Streetbeat News

Earnings

ARQT

Arcutis Biotherapeutics released new data from its INTEGUMENT-PED Phase 3 study of Roflumilast Cream for treating children aged 2 to 5 with mild to moderate atopic dermatitis. The results showed significant improvements across multiple efficacy endpoints and at all timepoints.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:11 am

LLY

Eli Lilly announced positive results from a study of Lebrikizumab in individuals with skin of color suffering from moderate-to-severe atopic dermatitis, showing significant improvement in skin clearance and itch relief.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:08 am

ADM

Archer-Daniels-Midland Company (ADM) is set to release its Q4 financial results on March 12, 2024, with analysts forecasting a decrease in earnings per share to $1.43 from $1.93 year-over-year and a revenue drop to $23.64 billion from $26.23 billion. Following a Q3 sales miss, ADM's stock gained 1%. Analysts from Goldman Sachs, Stifel, Barclays, BMO Capital, and Baird have revised their ratings and price targets for ADM, reflecting a cautious outlook.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 8:56 am

BLDP

MTN

ORCL

Earnings reports for March 11, 2024, include a mix of projected losses and gains across various sectors. Notable companies like Oracle, Vail Resorts, and Ballard Power Systems are among those reporting. The diversity in performance indicators suggests a varied impact on the market.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 8:56 am

AXR

CASY

CVGW

FTRE

ORCL

U.S. stock futures are trading lower, with focus on Fortrea Holdings, Oracle, AMREP, Calavo Growers, and Casey's General Stores due to earnings reports. Fortrea and AMREP have already reported, while Oracle, Calavo Growers, and Casey's are expected to report after the market closes. Fortrea and AMREP shares saw gains in after-hours and previous close, respectively, while Oracle and Casey's experienced slight movements, and Calavo Growers shares increased.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 8:38 am

IBM

Short-seller Jim Chanos criticized IBM for its rumored job cuts and questioned the company's growth prospects, highlighting AI as both a risk and opportunity for IBM's business model. The Register reported IBM is seeking voluntary redundancies, targeting mainly the Enterprise Operations & Support and Q2C missions, Finance & Operations. IBM's Q4 results showed a 4% revenue growth, and CFO Jim Kavanaugh discussed productivity initiatives and AI-driven efficiencies aiming for $3 billion in cost savings by 2024. IBM's stock closed down 0.30% at $195.95.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 8:12 am

IMAX

During the 96th Academy Awards, 'Oppenheimer' co-producer Emma Thomas thanked IMAX Corp CEO Richard Gelfond in her acceptance speech for Best Picture. This acknowledgment highlights IMAX's significant contributions to the film industry, especially following the success of 'Dune: Part Two'. The movie's global opening contributed over $32 million to IMAX, accounting for 18% of the global box office, which has positively impacted IMAX's stock. Analysts, including Wedbush's Alicia Reese, foresee further growth for IMAX, emphasizing its expanding role in the industry.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 3:55 am

KLAC

NVDA

TSM

KLA Corp (NASDAQ:KLAC), a semiconductor equipment company, is highlighted by fund manager Stephanie Niven as benefiting from the AI boom due to its role as a supplier to Taiwan Semiconductor (NYSE:TSM), which manufactures AI chips for NVIDIA Corp (NASDAQ:NVDA). KLA's focus on reducing manufacturing errors and wastage aligns with sustainability goals, contributing to its stock surge of 25% in 2024 and 89% over the past year. Despite concerns of a potential near-term drop due to its significant price increase, analysts remain bullish on KLA's fundamentals.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 3:51 am

NVDA

Nvidia Corp.'s GeForce Now cloud gaming service experienced a global outage but is now back online. The outage, lasting over two hours, prevented users from accessing their game libraries. Despite this, local gameplay was unaffected. The issue was resolved, and Nvidia's services are operational again. This event follows a lawsuit against Nvidia for allegedly using copyrighted works without permission to train its AI platform. Nvidia's Q4 results exceeded forecasts, with non-GAAP earnings per share of $5.16 and revenue of $22.10 billion.

Portfolio Pulse from Ananya Gairola

March 11, 2024 | 2:40 am

ADP

EQT

TSM

President Joe Biden proposed a tax overhaul targeting billionaires like Elon Musk and Jeff Bezos in his State of the Union address, aiming to invest in various sectors. Fed Chair Jerome Powell provided an optimistic outlook on the U.S. economy, anticipating strong growth and a robust labor market. Asia's emerging markets, led by TSMC and Samsung, are recovering, driven by tech stocks. Natural gas prices surged as EQT Corporation, the largest U.S. producer, cut output. Employment growth in February, as reported by ADP, missed forecasts, indicating a slowdown in the labor market.

Portfolio Pulse from Benzinga Neuro

March 10, 2024 | 11:55 am