Streetbeat News

Earnings

CMCSA

CNQ

LAC

RIVN

SOUN

Benzinga's Stock Whisper Index highlights five stocks: Rivian Automotive, Comcast Corp, Lithium Americas Corp, SoundHound AI Inc, and Canadian Natural Resources Ltd. Rivian's new SUVs and production plans, Comcast's Academy Awards success, Lithium Americas' Department of Energy loan, SoundHound's revenue growth and Nvidia investment, and Canadian Natural Resources' financial results and dividend increase are key points of interest.

Portfolio Pulse from Chris Katje

March 15, 2024 | 2:50 pm

QQQ

SPY

XLE

The University of Michigan's consumer sentiment report for March showed a slight decrease in the overall sentiment index to 76.5, with inflation expectations remaining above the Fed's 2% target. Consumer sentiment has been stable since January 2024, with year-ahead inflation expectations at 3% and long-term expectations at 2.9%. The market reacted minimally to the report, with the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) both showing declines, while the Energy Select Sector SPDR Fund (XLE) saw an increase.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 2:33 pm

DIS

Recent options activity on Walt Disney (NYSE:DIS) shows a bullish sentiment among high-rolling investors, with 62% bullish and 37% bearish trades. Benzinga's options scanner identified 8 significant trades, including 7 calls and 1 put, aiming for a price range of $50.0 to $115.0 in the next three months. The volume and open interest trends indicate an average open interest of 2763.88 and a total volume of 789.00. Current trading volume for DIS is 2,445,485, with a slight price decrease of -0.44%, reaching $111.57. Analysts have mixed opinions, with an average target price of $135.5, and the next earnings report is due in 54 days.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 2:33 pm

DM

Desktop Metal Inc (NYSE:DM) reported a Q4 fiscal 2023 revenue of $52.30 million, surpassing expectations and showing a 13.7% decline YoY. The company's net loss decreased, and adjusted gross margin improved. Despite not meeting the A-EBITDA target, the CEO remains optimistic about reaching profitability. Desktop Metal forecasts 2024 revenue between $175 million and $215 million, with an adjusted EBITDA loss of $30 million to $10 million. Shares surged 19.6% to $0.7369.

Portfolio Pulse from Akanksha Bakshi

March 15, 2024 | 2:29 pm

AVD

BLND

CDLX

MDGL

Blend Labs, Inc. (BLND) reported Q4 financial results with a loss of 9 cents per share and sales of $36.10 million, causing its shares to jump 24.3%. Other stocks like Cardlytics, Inc. (CDLX), American Vanguard Corporation (AVD), and Madrigal Pharmaceuticals, Inc. (MDGL) also saw significant gains following their earnings reports or other positive news. The overall market was down, with the Dow Jones index falling around 100 points.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 2:25 pm

WW

WW International shares are trading higher following the company's announcement that it is set to exceed its Q1 2024 guidance for end of period Clinical subscribers.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 2:22 pm

WW

WW International, Inc. announced to its employees that it expects to surpass its Q1 fiscal 2024 guidance for end of period Clinical subscribers, as per a communication on March 14, 2024. This update, considered a forward-looking statement, is based on current management expectations and subject to risks as detailed in its Annual Report on Form 10-K filed on February 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 2:16 pm

INTC

Recent options trading activity indicates a predominantly bearish sentiment towards Intel (NASDAQ:INTC), with 83% of detected trades being bearish. The trades span a price window of $40.0 to $60.0. Notable options activity includes both puts and calls with bearish sentiment, highlighting significant trades with expiration dates in 2025 and strike prices ranging from $47.00 to $55.00. Intel's current market status shows a slight decrease in stock price to $42.65, with a neutral RSI and an upcoming earnings report in 41 days. Analysts have mixed views on Intel, with an average price target of $38.25 and ratings ranging from Neutral to Sell.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 2:16 pm

MSOS

Cannabis stocks surged following Doug Kass's announcement on X about the DEA's imminent rescheduling of cannabis to Schedule III. The Benzinga Cannabis Capital Conference in Florida will discuss the industry's future, including valuations and investment opportunities. Senator Cory Booker hinted at the rescheduling, potentially around 4/20. Despite recent earnings struggles, the AdvisorShares Pure US Cannabis ETF (MSOS) saw an 8.94% increase.

Portfolio Pulse from Maureen Meehan

March 15, 2024 | 2:08 pm

WSM

Williams-Sonoma, Inc. (NYSE:WSM) reported strong fourth quarter earnings, surpassing expectations with higher margins and positive guidance for 2024. Goldman Sachs analyst Kate McShane upgraded WSM from Sell to Neutral and increased the price target from $154 to $263, citing the company's effective management of promotions, freight costs, and supply chain improvements. Despite expecting another year of negative comps in FY24, WSM is anticipated to maintain its current operating margin.

Portfolio Pulse from Priya Nigam

March 15, 2024 | 2:02 pm