Streetbeat News

Earnings

TGT

Target Corp (NYSE:TGT) shares rose after reporting Q4 FY23 revenue of $31.92 billion, surpassing estimates. Despite a 4.4% decline in comparable sales, gross margin expanded to 25.6% due to lower costs and favorable category mix. Operating income increased by 60.9% to $1.86 billion, with adjusted EPS of $2.98 beating estimates. The company holds $3.8 billion in cash and paid $508 million in dividends. Target did not repurchase any shares in Q4 but has $9.7 billion left in its repurchase program. FY24 EPS is projected at $8.60 - $9.60, with 0% - 2% growth in comparable sales. TGT shares surged 8.25% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 12:48 pm

TSLA

Tesla, Inc. (TSLA) shares are experiencing a decline in premarket trading, continuing from a 7% drop in the previous session. This downturn is attributed to negative sentiment towards mega-cap tech stocks and specific challenges for Tesla, including a production halt at Giga Berlin due to a suspected arson attack on a nearby electricity pylon. Additionally, concerns over Tesla not meeting delivery expectations for Q1 have impacted investor sentiment, potentially leading to reduced earnings estimates for 2024.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 12:46 pm

CASI

CASI Pharmaceuticals' shares surged following the announcement of positive interim Phase 1 data for BI-1206, aimed at treating relapsed/refractory indolent Non-Hodgkin's Lymphoma in China.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:44 pm

ALNY

RHHBY

Alnylam Pharmaceuticals and Roche reported that their KARDIA-2 study met its primary endpoint, showing significant blood pressure reductions with Zilebesiran when added to standard antihypertensive treatments.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:41 pm

SFIX

Stitch Fix shares dropped following disappointing Q2 financial results and lower-than-expected revenue guidance for Q3 and FY24. Additionally, Bernstein and Wells Fargo reduced their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:40 pm

DYN

Dyne Therapeutics (NASDAQ:DYN) reported Q4 earnings with an EPS of $-1.09, missing estimates by -18.0% and showing no revenue change from the previous year. The company had previously missed EPS estimates last quarter, resulting in a 4.0% share price drop the following day.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 12:40 pm

MYE

Myers Industries' shares surged following the announcement of Q4 adjusted EPS results that exceeded expectations and the issuance of FY24 adjusted EPS guidance surpassing estimates.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:38 pm

DYN

Dyne Therapeutics (NASDAQ:DYN) reported a Q4 EPS loss of $(1.09), missing the consensus estimate of $(0.92) by 18.48%. This represents a 47.3% increase in losses compared to the same period last year. The company also reported a cash balance of $123.1M.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:36 pm

GOSS

Gossamer Bio reported Q4 EPS of $(0.21), meeting analyst estimates and marking a 64.41% improvement from last year. With $296.4M in cash and equivalents, it expects a cash runway into H1 2026.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:36 pm

STIM

Neuronetics projects Q1 FY 2024 sales to be between $16.7M-$17.7M and full-year sales to reach $78M-$80M, aligning closely with consensus estimates of $16.98M for Q1 and $78.64M for the year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:33 pm