Streetbeat News

Earnings

GOEV

SAIC

Science Applications International Corporation (SAIC) shares fell over 10% after reporting Q4 fiscal 2024 earnings below estimates, despite beating revenue consensus. Other stocks experienced significant movements, with Canoo Inc. (GOEV) surging 95% after its facility was approved as a Foreign Trade Zone, and various companies seeing gains due to positive developments or analyst upgrades. Conversely, several companies faced declines due to disappointing financial results, regulatory issues, or strategic decisions.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 6:37 pm

SONY

Leaked specifications for Sony Group Corp.'s PlayStation 5 Pro, expected in Q4 2024, reveal significant upgrades in CPU and GPU performance. Features include a High CPU Frequency Modem, 33.5 teraflops GPU, PlayStation Spectral Super Resolution Upscaling, custom machine learning architecture, an AI accelerator, a detachable disc drive, and 1TB storage. The release could boost interest in the PS5 lineup, especially ahead of Grand Theft Auto 6's 2025 launch. Sony recently adjusted its PS5 sales forecast down to 21 million units and announced over 900 layoffs, including the closure of its London studio.

Portfolio Pulse from Franca Quarneti

March 18, 2024 | 6:17 pm

GOOGL

HCP

NVDA

PEP

TSLA

Stocks rallied with significant contributions from Google and Tesla, amid rising oil prices and inflation concerns. The S&P 500 and Nasdaq 100 saw gains, with a notable AI agreement between Alphabet Inc. and Apple Inc. Nvidia's upcoming GPU Technology Conference and rising Treasury yields also influenced the market. Oil prices increased, while Bitcoin and gold saw mixed movements. Sector ETFs and individual stocks like Tesla, PepsiCo, HashiCorp, Science Applications International, and Shift4 Payments showed notable price changes.

Portfolio Pulse from Piero Cingari

March 18, 2024 | 6:02 pm

BAC

Deep-pocketed investors have shown a predominantly bearish stance on Bank of America (NYSE:BAC), as revealed by Benzinga's tracking of public options records. A significant level of activity was observed with 24 extraordinary options activities, where 79% of the sentiment is bearish. The options trades suggest a price target range of $28.0 to $40.0 for BAC over the next three months. Currently, BAC's stock is up by 0.68% at $35.65, with an anticipated earnings release in 29 days. Analysts, including one from Piper Sandler with an Underweight rating, have set an average target price of $33.0 for BAC.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 6:00 pm

CAL

Caleres (NYSE:CAL) is scheduled to release its quarterly earnings report on March 19, 2024, with an expected EPS of $0.85. Analysts and investors are keen on whether the company will surpass this estimate and provide positive guidance for the next quarter. Historical data shows mixed reactions in stock price post-earnings announcements, despite generally positive long-term performance, with shares up 76.05% over the last 52 weeks. The stock was trading at $39.0 as of March 15.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 6:00 pm

GCT

GOEV

SOND

SWIM

Consumer Discretionary stocks experienced significant movements in Monday's intraday session. Notable gainers include Canoo (GOEV) with a 53.9% increase, and Latham Group (SWIM) rising by 20.03% following their Q4 earnings report. On the losing end, Sonder Holdings (SOND) dropped by 33%, and GigaCloud Tech (GCT) fell by 21.56% after their Q4 earnings. The movements reflect varied investor reactions to company performances and market conditions.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:31 pm

BWSN

SMR

STI

In Monday's intraday session, several industrials stocks showed significant movement. Solidion Technology (STI) led the gainers with a 77.1% increase, while Babcock & Wilcox Enterprises, Inc. 8.125% Senior Notes due 2026 (BWSN) led the losers with an 18.8% decrease. Notably, companies like NuScale Power (SMR), Li-Cycle Holdings (LICY), and Babcock & Wilcox (BW) had their Q4 earnings reports influencing their stock movements.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:31 pm

Recent options trading activity for General Electric (NYSE:GE) indicates a bearish sentiment among significant investors, with a split of 36% bullish and 63% bearish. Benzinga's options scanner revealed 11 unusual trades, with a mix of puts and calls aiming for a price range of $130.0 to $195.0 over the next three months. The current market standing of GE shows a slight increase in stock price to $169.01, with potential overbought conditions and an upcoming earnings release in 36 days.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:31 pm

SHC

Sotera Health saw significant options activity with a sweep of 715 calls for May 17 at $15, priced near the ask at $0.897, against an open interest of 27. This activity comes ahead of their earnings report estimated on May 1, with the reference stock price at $14.335.

Portfolio Pulse from Charles Gross

March 18, 2024 | 5:27 pm

TNGX

Tango Therapeutics shares are trading lower following the announcement of worse-than-expected Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:25 pm