Streetbeat News

Earnings

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Health care stocks experienced significant movements in Wednesday's intraday session, with notable gainers including Emergent BioSolutions, Ventyx Biosciences, and Motus GI Holdings, among others. Losers for the day included BioSig Technologies, PHAXIAM Therapeutics, and Community Health Systems, with some companies' movements attributed to recent Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 5:31 pm

MARA

Financial analysis of Marathon Digital Holdings (NASDAQ:MARA) options trading reveals a bullish sentiment among traders, with 57% bullish and 42% bearish. The analysis highlighted unusual trades, including 6 puts and 13 calls, with a focus on a price window from $10.0 to $45.0. Notable options activity includes both bullish and bearish trades with varying expiration dates and strike prices. Marathon Digital Holdings, a company specializing in mining digital assets, has seen its stock price decrease by -6.57%, with an upcoming earnings announcement in 7 days.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 5:31 pm

GIL

Gildan Activewear, Inc. (NYSE:GIL) shares rose after reporting Q4 earnings and revenue that beat analyst expectations. Earnings per share were $0.75, above the consensus of $0.73, with revenues at $782.7 million, surpassing the expected $764.48 million. Net sales increased by 9% year over year, with activewear sales up 8% and hosiery and underwear sales up 11%. The company also raised its quarterly dividend by 10% and provided an FY24 outlook expecting revenue growth to be flat to low-single digits and adjusted EPS of $2.92-$3.07.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 5:25 pm

AVGO

NVDA

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Broadcom Inc (NASDAQ:AVGO) has seen a 10% increase in shares, potentially positioning it to overtake Tesla Inc (NASDAQ:TSLA) in market capitalization. This comes as Tesla's shares have slumped 22%. Broadcom's upcoming quarterly earnings on March 7 are highly anticipated, with expectations of significant revenue and earnings growth, partly due to its acquisition of VMWare. Comparatively, Nvidia Inc (NASDAQ:NVDA) has outperformed with a 235% gain in shares, but both Broadcom and Nvidia face potential volatility ahead of Nvidia's earnings report. Analysts remain bullish on Broadcom, with several raising their price targets.

Portfolio Pulse from Neil Dennis

February 21, 2024 | 5:24 pm

Workiva's shares dropped following the announcement of its Q4 financial results and the issuance of its future guidance.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:23 pm

ADI

Analog Devices, Inc (NASDAQ:ADI) reported Q1 fiscal 2024 results with a revenue decline of 22.7% Y/Y to $2.513 billion, slightly beating consensus. Adjusted EPS was $1.73, above the consensus of $1.71. The company saw a decline in Industrial and Communications revenue, but Automotive revenue grew by 9% Y/Y. The adjusted gross and operating margins declined due to lower revenue. The quarterly dividend was raised by 7% to $0.92 per share. The outlook for Q2 revenue and adjusted EPS is below consensus. ADI's stock traded higher by 1.66% to $192.49, with an average 1-year price target of $201.0.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 5:17 pm

Significant bearish options activity has been observed in Zscaler (NASDAQ:ZS), with a notable volume of puts and calls indicating a bearish sentiment among big-money traders. The options activity suggests a price target range of $125 to $350 for ZS. Despite this, Zscaler's stock is currently down by -14.36%, trading at $213.27, with an earnings announcement expected in 8 days. Analyst ratings in the last month have varied, with an average target price of $241.8.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 5:16 pm

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U.S. stocks traded lower with the Nasdaq Composite down 0.5%. Energy shares rose by 1.5%, while information technology shares fell by 1%. Exelon Corp reported better-than-expected Q4 results and increased its dividend. MediaAlpha, Gentherm, and Motus GI Holdings saw shares rise after positive financial results or patent news. Palo Alto Networks, U Power, and Community Health Systems shares fell due to disappointing guidance, delisting notice, and financial results, respectively. Oil prices increased by 0.6%.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 5:03 pm

ACRE

Ares Comml Real Est (NYSE:ACRE) is scheduled to release its quarterly earnings report on February 22, 2024, with an estimated EPS of $-0.01. Investors are hopeful for a beat on this estimate and positive guidance for future growth. The company's past earnings performance shows a mix of beats and misses, with varying impacts on stock price. Currently, ACRE shares are trading at $8.2, down 29.35% over the last year, indicating potential concern among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 5:02 pm

BWMX

Betterware de Mexico SAPI (NASDAQ:BWMX) is scheduled to release its quarterly earnings report on February 22, 2024, with an estimated EPS of $0.28. Historical performance shows mixed results with the last quarter missing estimates, leading to a significant share price drop. Shares have risen 49.13% over the last year, indicating positive sentiment among long-term investors.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 5:02 pm