Streetbeat News

Earnings

OCC

Optical Cable Corporation (OCC) reported a significant decrease in its Q1 earnings, with a loss of $(0.18) per share compared to a profit of $0.10 per share year-over-year. Sales also decreased by 18.75% to $14.86 million from $18.28 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:01 pm

BILL

BILL Holdings (NYSE:BILL) has received mixed analyst ratings over the past three months, with a shift towards a more bearish sentiment. The average 12-month price target for BILL Holdings is $85.38, slightly decreased by 0.26%. Analysts from firms like Exane BNP Paribas, Citigroup, JP Morgan, Wells Fargo, Needham, and Piper Sandler have updated their ratings and price targets, reflecting changes in market dynamics and company performance. BILL Holdings, a provider of cloud-based payment solutions, has shown a revenue growth of 22.5% as of December 31, 2023, but struggles with profitability and efficiency, indicated by its net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 12:00 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) shares are down over 2% in pre-market trading after Wells Fargo downgraded the stock from Equal Weight to Underweight and slashed the price target from $200 to $125, citing concerns over disappointing deliveries, more price cuts, and potential negative EPS revisions. Analysts predict flat sales volumes in 2024 and a decline in 2025, along with lower lease residuals and a potential loss of the luxury brand premium. Tesla bull Gary Black of Future Fund warned about potential downward revision of delivery estimates, suggesting the current consensus estimate of 474,000 units for Q1 is too high and models a lower figure of 425,000 units.

Portfolio Pulse from Shanthi Rexaline

March 13, 2024 | 11:55 am

ADDYY

Adidas AG (OTC:ADDYY) reported a 2% decline in currency-neutral revenues for Q4 FY23, with a notable 8% decline in euro terms due to unfavorable currency movements and the absence of Yeezy business. Despite these challenges, footwear sales rose 8%, driven by growth in Originals and Skateboarding. The company faced a 21% sales decrease in North America but saw a 37% increase in Greater China. Adidas anticipates mid-single-digit sales growth in FY24, despite inventory and currency challenges, and expects an operating profit of around €500 million.

Portfolio Pulse from Shivani Kumaresan

March 13, 2024 | 11:54 am

SLDB

Solid Biosciences reported a Q4 2023 net loss of $20.3 million, an increase from the previous year's $15.2 million loss. However, the company maintains a cash balance of $123.6 million, expected to support operations into 2026.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:49 am

TH

Target Hospitality's shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company provided FY24 revenue guidance that surpassed analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:49 am

INDP

Indaptus Therapeutics reported a FY EPS of $(1.83), surpassing the $(1.95) estimate. Despite a 5.78% increase in losses from the previous year, its $13.4M cash balance is expected to sustain operations through Q3 of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:39 am

DLTR

Dollar Tree's shares dropped following the announcement of disappointing Q4 financial results and Q1 earnings per share (EPS) guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:37 am

ARCO

Arcos Dorados announced plans to open 80 to 90 new restaurants in 2024, with approximately 90% being free-standing units. The company anticipates total capital expenditures for 2024 to be between $300M and $350M.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:36 am

DV

DoubleVerify Holdings, Inc. (NYSE:DV) has expanded its collaboration with NBCUniversal to offer program-level measurement solutions for OTT devices, including Connected TV (CTV). This partnership aims to provide NBCUniversal advertisers with tools to assess brand safety, suitability, and content performance at the program level. The company, which has seen a 34% increase in its stock over the last year, expects Q1 revenue of $136 million to $140 million and full-year 2024 revenue of $688 million to $704 million, marking a 22% increase at the midpoint. Macquarie analyst Tim Nollen upgraded DoubleVerify from Neutral to Outperform with a $40 price target.

Portfolio Pulse from Nabaparna Bhattacharya

March 13, 2024 | 11:33 am