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Earnings

CRVO

CervoMed Inc. (NASDAQ:CRVO) announced positive results from the AscenD-LB Phase 2a trial of neflamapimod for dementia with Lewy bodies (DLB), showing significant reduction in plasma GFAP levels compared to placebo. The reduction in GFAP correlated with improved clinical outcomes. Additionally, data from UCL demonstrated neflamapimod's potential in improving axonal transport in a tauopathy mouse model, supporting its use in frontotemporal dementia treatment. These findings will be presented at the AD/PD™ 2024 conference.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:01 pm

NUWE

Nuwellis reported Q4 2023 earnings with a GAAP EPS of $(2.240), missing the $(1.390) estimate, while sales of $2.600M exceeded the $2.551M estimate, marking an 11.16% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:01 pm

GTLB

GitLab Inc. (NASDAQ:GTLB) reported Q4 earnings of 15 cents per share, surpassing the 8 cents estimate, with sales of $163.78 million beating the $158.21 million forecast. However, its FY2025 EPS guidance of 19-23 cents was below the 35 cents consensus. Shares rose 17.6% to $16.13. Bernstein raised GitLab's price target from $71 to $76, maintaining an Outperform rating, while Cantor Fitzgerald lowered it from $80 to $70, keeping an Overweight rating.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 12:59 pm

PPBT

Purple Biotech (NASDAQ:PPBT) reported its Q4 earnings with losses of $(0.19) per share, meeting analyst consensus estimates. This represents a 36.67% improvement over the $(0.30) per share loss reported in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:58 pm

CARA

Cara Therapeutics shares are trading lower following the announcement of worse-than-expected Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:56 pm

AAPL

VGT

XLK

Apple Inc's iPhone sales in China dropped 24% in the first six weeks of the year, placing it fourth among smartphone vendors in the country. The decline was attributed to a 7% contraction in China's overall smartphone market and strong performances by Vivo and Huawei, with Huawei's market share increasing to 16.5%. Apple's market share fell to 15.7%. In response, Apple introduced discounts and promotions. Investors can gain exposure to Apple through ETFs like Vanguard Information Tech ETF (VGT) and SPDR Select Sector Fund - Technology (XLK). AAPL shares dropped 2.25% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 12:55 pm

ARKO

BGFV

CHH

RIVN

SMP

The article highlights the top 5 consumer discretionary stocks considered oversold based on their Relative Strength Index (RSI), suggesting potential buying opportunities. These include Arko Corp. (ARKO), Choice Hotels International, Inc. (CHH), Standard Motor Products, Inc. (SMP), Big 5 Sporting Goods Corporation (BGFV), and Rivian Automotive, Inc. (RIVN), each with recent financial results and stock performance.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 12:53 pm

DSP

Viant Technology's shares surged following its report of higher-than-expected Q4 adjusted EPS results and optimistic Q1 revenue guidance. Additionally, Needham and Canaccord Genuity increased their price targets for the stock.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:52 pm

AVDL

Avadel Pharmaceuticals plc (NASDAQ:AVDL) exceeded Q4 revenue expectations with $19.45 million against estimates of $18.11 million and reported a loss of 32 cents per share. The company's shares surged 17.6% following the announcement. Analysts from Needham, Piper Sandler, HC Wainwright & Co., and Oppenheimer have subsequently raised their price targets for AVDL, citing strong early launch results of LUMRYZ and a positive outlook for 2024.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 12:52 pm

GBTG

American Express Global Business Travel, a part of Global Business Travel Group (GBTG), forecasts its FY24 revenue to be between $2.43B and $2.50B, which is slightly below the estimated $2.51B.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:51 pm