Streetbeat News

Earnings

WTI

W&T Offshore's stock price declined following the announcement of their Q4 financial results, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:33 pm

KFY

PSCI

SOVF

Korn Ferry (NYSE:KFY) reported a slight revenue decline in Q3 FY2024 but beat consensus estimates. The company announced a dividend and forecasts higher earnings for Q4. KFY shares fell 3.14% to $64.06. Exposure to KFY can also be gained through SOVF and PSCI ETFs.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 4:26 pm

THO

Thor Industries, Inc. (NYSE:THO) reported Q2 earnings and revenue below analyst expectations, with significant declines in North American RV sales and a slight increase in European RV sales. The company also reduced its FY24 revenue and EPS outlook, leading to an 11.15% drop in its stock price.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 4:24 pm

MBLY

Mobileye announced at the Morgan Stanley Technology, Media & Telecom Conference that they are on track to meet their Q2 outlook, which includes at least a 100% increase in Q2 versus Q1, with the vast majority of excess inventory cleared out. This outlook is supported by a significant number of customer commitments received for Q2.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:22 pm

ANF

Abercrombie & Fitch projects its Q1 revenue for fiscal 2024 to increase by low double digits year-over-year from $836 million, with an operating margin between 8% to 10%, up from 4.6% in Q1 2023. The effective tax rate is expected to be around 10%, benefiting from discrete federal income tax advantages.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:19 pm

ANF

Abercrombie & Fitch projects FY24 revenue between $4.47B and $4.56B, surpassing the $4.43B estimate. The company anticipates 4% to 6% sales growth from $4.3B in FY23, despite a $50M impact from an extra reporting week. Abercrombie brands are expected to outperform Hollister, with stronger growth in the Americas and the first half of the year. Operating margin is projected at 12%, up from 11.4%, with capital expenditures at $170M. The effective tax rate is expected in the mid-to-high 20s.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:17 pm

MRVL

Financial giants have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL), with 65% of unusual trades indicating bearishness. The analysis of options history revealed a focus on a price band between $65.0 and $110.0. Notable options activity includes both bullish and bearish sentiments with varying strike prices and expiration dates. Marvell Tech, a fabless chip designer, has seen its stock price increase by 3.67% to $81.62, with analysts setting an average price target of $89.5. The company is approaching its next earnings release in 1 day.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 4:15 pm

EWCZ

European Wax Center's shares surged following the announcement of their Q4 revenue results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:10 pm

GSK

ViiV Healthcare, a subsidiary of GSK Plc, announced interim data at CROI showing superior efficacy of its long-acting injectable HIV treatment, Cabenuva, compared to daily oral therapy in maintaining viral load suppression. The Latitude study also reported a similar rate of adverse events between both treatment arms.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 4:04 pm

BITF

Bitfarms (NASDAQ:BITF) is scheduled to release its quarterly earnings report on March 7, 2024, with analysts expecting an EPS of $-0.03. The company's past earnings performance shows a pattern of not meeting EPS estimates, leading to subsequent drops in share price. Shares of Bitfarms have risen 254.19% over the last 52 weeks, trading at $2.49 as of March 5. Investors are advised to pay attention to the company's guidance for future growth, which can significantly impact stock price.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 4:02 pm