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Earnings

GREE

Greenidge Generation Holdings Inc. (NASDAQ:GREE) announced a $6M investment from Armistice Capital to support its business transformation and growth strategy. This investment will fund expansion into low-cost power centers, bitcoin mining, EPCM business, new AI infrastructure/data centers, and innovative efforts in bitcoin interest. Greenidge recently reported its first profitable quarter in two years, with favorable preliminary financial results for Q4 2023, including a net income of $1.4M to $2.4M and a significant debt reduction.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:06 pm

GNSS

LPTH

MNDY

RXT

In Monday's pre-market session, several Information Technology stocks showed significant movements. Genasys, Rackspace Tech, and SMX were among the top gainers, with increases of 17.7%, 13.77%, and 11.11% respectively. On the losing side, LightPath Technologies, MicroCloud Hologram, and Monday.Com experienced declines of 19.8%, 13.82%, and 11.31% respectively. Notably, earnings reports influenced some of these movements, with Amtech Systems, LightPath Technologies, and Monday.Com releasing their financial results.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:05 pm

MNDY

Monday.com Ltd (NASDAQ:MNDY) reported Q4 2023 revenue growth of 35% Y/Y to $202.57 million, surpassing consensus estimates. Adjusted EPS was $0.65, beating the consensus of $0.32. Despite positive financial results, MNDY shares dropped 9.76% in premarket trading. The company also reported a net dollar retention rate of 110%, a 56% Y/Y increase in paid customers with over $50,000 in ARR, and strong cash flows. CFO Eliran Glazer expressed confidence in future growth despite economic challenges. Monday.com provided an optimistic outlook for Q1 and FY24 revenues and adjusted operating margins.

Portfolio Pulse from Anusuya Lahiri

February 12, 2024 | 1:02 pm

TAK

The FDA has approved Takeda's EOHILIA, the first and only oral treatment for eosinophilic esophagitis (EoE) for patients 11 years and older. EOHILIA, a novel formulation of budesonide, demonstrated significant efficacy in reducing esophageal inflammation and improving swallowing in two 12-week clinical studies. Takeda is evaluating the financial impact of this approval on FY2023 but does not expect it to be material.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:01 pm

TFIN

In the last three months, 4 analysts have updated their ratings on Triumph Financial (NASDAQ:TFIN), showing a shift towards a more cautious stance with 3 indifferent and 1 somewhat bearish rating recently. The average 12-month price target for TFIN has been raised to $70.5, indicating a 3.68% increase from the previous target of $68. Analysts from firms including Piper Sandler and Stephens & Co. have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Triumph Financial's financial indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management were also discussed, providing a comprehensive view of the company's current financial health.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:00 pm

IMVT

Immunovant (NASDAQ:IMVT) reported Q3 earnings, beating estimated earnings by 16.28% with an EPS of $-0.36 versus an estimate of $-0.43. However, revenue remained unchanged from the same period last year. In the previous quarter, the company also surpassed EPS estimates, which led to a 4.22% increase in share price the following day.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 1:00 pm

TRMB

Trimble (NASDAQ:TRMB) reported Q4 2023 adjusted EPS of $0.63, surpassing the $0.59 estimate, with sales of $932.40M exceeding the $909.53M forecast. This represents an 8.86% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:59 pm

MNDY

Monday.com's shares are trading lower despite the company reporting Q4 results that exceeded estimates and providing FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:55 pm

ABBV

AbbVie has revised its Q1 2024 adjusted EPS guidance downwards from $2.30-$2.34 to $2.26-$2.30, below the consensus of $2.35. This revision includes a $0.04/share dilutive impact from the acquisition of Immunogen.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:45 pm

ABBV

AbbVie has reaffirmed its adjusted EPS guidance for 2024 at $11.05-$11.25, aligning with the consensus of $11.21. This forecast now includes a $0.42 per share dilutive impact from the Immunogen acquisition and the pending Cerevel deal, an increase from the previously estimated $0.32 per share.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:44 pm