Streetbeat News

Earnings

ERIE

Erie Indemnity's stock price increased following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:48 pm

VERV

Verve Therapeutics shares surged following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:46 pm

JANX

Janux Therapeutics Inc (NASDAQ:JANX) released promising data for its cancer treatments, JANX007 and JANX008, showing significant efficacy and safety. JANX007, targeting metastatic castration-resistant prostate cancer, demonstrated high rates of PSA declines and favorable safety profiles in a Phase 1a trial. JANX008, aimed at various solid tumors, also showed encouraging clinical activity and safety. Following these updates, Janux's stock surged 186.5% to $43.26, yet William Blair considers it undervalued, highlighting the potential of Janux's TRACTr platform.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 5:41 pm

MSFT

SNOW

Snowflake Inc (SNOW) is set to report its Q4 earnings with expectations of 18 cents EPS and $759.10 million in revenues. Analyst Mike Cikos of Needham has a Buy rating on SNOW, with a price target raised to $265, citing an 'outsized benefit' from AI growth and cloud migrations. Snowflake's cloud-native data platform is disrupting the market, with a 21% exposure to Azure, indicating a strategic advantage. The company's focus on unstructured data and the Applica acquisition further positions it against competitors like Databricks.

Portfolio Pulse from Surbhi Jain

February 27, 2024 | 5:40 pm

CRD

EHTH

RELI

TRUP

Insurance stocks showed notable movements in Tuesday's intraday session. Gainers included Reliance Global Group, Trupanion, Hippo Holdings, Erie Indemnity, Lemonade, and Root, with increases ranging from 6.76% to 15.39%. Losers were eHealth, Crawford (with two different stock symbols), Oxbridge Re Holdings, Waterdrop, and Maiden Holdings, with declines between 2.26% and 9.21%. Notably, several companies released their Q4 earnings reports, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 5:40 pm

CVNA

Carvana Co. (NYSE:CVNA) shares surged over 50% following its first-ever annual profit report last week. Analysts have revised price targets, with Morgan Stanley raising its target from $32 to $45. Despite a high short interest of 42.04%, the stock's significant movement is attributed to its earnings report. The average 1-year price target is $49.33, indicating a potential downside. Shares are currently trading up 18% at $82.45.

Portfolio Pulse from Erica Kollmann

February 27, 2024 | 5:39 pm

SLCA

U.S. Silica Holdings, Inc. (NYSE:SLCA) shares rose after reporting Q4 FY23 results with revenue of $336.04 million, down 19% Y/Y but with an adjusted EPS of $0.28, beating the consensus of $0.25. The Oil & Gas segment saw a 27% revenue decline, while the Industrial & Specialty Products segment's revenue fell 3%. The company highlighted strong customer commitments in the Oil and Gas segment and robust demand in the Industrial segment, expecting strong operating cash flow in 2024.

Portfolio Pulse from Lekha Gupta

February 27, 2024 | 5:38 pm

TARS

Tarsus Pharmaceuticals shares are trading higher following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:35 pm

AAN

GOTU

Consumer Discretionary stocks showed significant movement in Tuesday's intraday session, with notable gainers including Gaotu Techedu, Singing Machine Co, Sonder Holdings, Jumia Technologies, Big Lots, and Norwegian Cruise Line, primarily driven by Q4 earnings releases. Conversely, Aarons, BT Brands, Qurate Retail, Cango, Zapp Electric Vehicles, and Chijet Motor Co experienced declines, with Aarons' drop attributed to its Q4 earnings announcement.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 5:31 pm

HIMS

JANX

NERV

VKTX

Health care stocks experienced significant movements in Tuesday's intraday session, with notable gainers including Janux Therapeutics, Viking Therapeutics, and CytomX Therapeutics, among others. Losers for the day included Minerva Neurosciences, NRX Pharmaceuticals, and Calidi Biotherapeutics. Factors influencing these movements include recent earnings reports for some companies.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 5:31 pm