Streetbeat News

Earnings

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) anticipates lower Q1 FY24 earnings due to weak oil and gas prices. The company expects negative impacts on upstream results from gas and liquid price fluctuations, but sees potential positive impacts from variations in industry margins on energy, specialty, and chemical products earnings. Additionally, unsettled derivatives could also affect earnings. Investors can gain exposure to Exxon Mobil through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

April 04, 2024 | 10:45 am

ALDX

ALZN

RVP

Insiders at Aldeyra Therapeutics, Retractable Technologies, and Alzamend Neuro have recently made significant stock purchases, signaling potential confidence in their companies' futures. Aldeyra Therapeutics saw a notable upgrade from Oppenheimer with a $10 price target. Retractable Technologies reported its 2023 results, and Alzamend Neuro received FDA approval to proceed with a Phase 2A study for PTSD treatment.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 10:23 am

BlackBerry Limited (NYSE:BB) shares rose in premarket trading after reporting better-than-expected fourth-quarter FY24 results. Revenue increased to $173 million, surpassing the consensus of $154.8 million, with IoT revenue hitting a record $66 million and Cybersecurity revenue growing to $92 million. Adjusted gross margin improved to 75%, and adjusted EBITDA turned positive at $21 million. Adjusted EPS was $0.03, beating the expected loss of $(0.03). However, the company's FY25 revenue and EPS outlook fell short of expectations, projecting lower than estimated figures.

Portfolio Pulse from Lekha Gupta

April 04, 2024 | 10:18 am

AAPL

By 2026, India is projected to become Apple Inc.'s third-largest iPhone market, surpassing Japan and the UK. In 2023, iPhone shipments in India exceeded 10 million units for the first time, contributing to significant revenue for Apple. iPhones produced in India accounted for 13% of global shipments in 2023, a substantial increase from 1% in 2018. This growth is attributed to Apple's expanding brand affinity in India. Additionally, Apple's services sector is expected to make up a quarter of its total revenue by 2025, potentially exceeding $100 billion annually. The introduction of the Apple One subscription in 2023 is anticipated to further enhance Apple's service revenue.

Portfolio Pulse from Shomik Sen Bhattacharjee

April 04, 2024 | 9:44 am

NIU

Niu Technologies reported a 37% year-over-year increase in unit sales for Q1 2024, totaling 129,139 units. Sales in China rose by 35% to 110,115 units, while international sales surged by 48% to 19,024 units. The company highlighted the success of its new products, especially the premium flagship model NXT, which accounted for 26% of domestic sales and received over 10,000 pre-orders within two weeks of launch.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 9:29 am

ACB

CRON

DXYZ

LEVI

MGNX

MNMD

SLP

Simulations Plus, Inc. (SLP) shares surged 8.9% in pre-market trading after reporting Q2 earnings and sales above market expectations, and providing optimistic FY24 guidance. Other stocks like Destiny Tech100 Inc. (DXYZ), Cronos Group Inc. (CRON), MacroGenics, Inc. (MGNX), Mind Medicine (MindMed) Inc. (MNMD), Levi Strauss & Co. (LEVI), BlackBerry Limited (BB), Aurora Cannabis Inc. (ACB), and Lamb Weston Holdings, Inc. (LW) also saw significant pre-market gains following positive earnings reports, guidance updates, or previous session jumps.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 9:18 am

ANGO

CAG

DOL

TRIB

Earnings reports for April 4, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Conagra Brands, Trinity Biotech, and AngioDynamics are set to report before the bell, with projections ranging from profits to losses. WisdomTree International LargeCap Dividend Fund and others also anticipate earnings, while companies like Conifer Holdings and Movano will report after the bell.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 9:18 am

AYI

CAG

INTC

RPM

U.S. stocks closed mixed with the Dow Jones falling for the third consecutive session, despite a slight improvement in market sentiment as indicated by the CNN Money Fear and Greed index. Intel Corporation's shares dropped over 8% after revealing a $7 billion operating loss in its foundry segment for 2023. Acuity Brands reported better-than-expected Q2 earnings. The S&P 500 and Nasdaq Composite saw gains, driven by communication services, energy, and materials stocks. Investors are looking forward to earnings results from Lamb Weston Holdings, RPM International, and Conagra Brands.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 7:56 am

CAG

Conagra Brands, Inc. (NYSE:CAG) is expected to report lower Q3 earnings with an estimate of 65 cents per share, down from 76 cents per year ago, and revenue of $3.01 billion. The company also divested its 51.8% stake in Agro Tech Foods Limited. Shares fell 1.7% to $29.06. Analysts have adjusted their ratings and price targets, with changes including downgrades and reductions in price targets.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 7:51 am

ETH-USD

A cryptocurrency trader turned a $13,000 investment into over $2 million by trading the new memecoin Donotfomoew (MOEW) on the Base blockchain, achieving a 15,700% gain in a single day. The trader bought 499.9 million MOEW with 4 Ethereum (ETH) and sold part of it for a significant profit, while still holding a substantial amount of MOEW. The token was launched by Bitget Wallet with a cautionary note to potential buyers.

Portfolio Pulse from Mehab Qureshi

April 04, 2024 | 7:34 am