Streetbeat News

Earnings

PANW

Palo Alto Networks, Inc. (NASDAQ:PANW) reported Q2 results with revenue of $1.98 billion, surpassing estimates, and earnings of $1.46 per share, also above expectations. However, the company's Q3 guidance was below analyst estimates, leading to a slight stock price decline and analysts adjusting their price targets. Wedbush and Rosenblatt revised their price targets for PANW, with Wedbush maintaining an Outperform rating and Rosenblatt downgrading to Neutral.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 1:26 pm

ABOS

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) announced its plans to present data from the Phase 1 INTERCEPT-AD study of sabirnetug (ACU193) for early Alzheimer's treatment at the AD/PD 2024 meeting. The study showed sabirnetug to be well-tolerated with a favorable safety profile and significant amyloid plaque reduction. Acumen is set to initiate a Phase 2 trial in the first half of 2024, highlighting sabirnetug's potential as a next-generation treatment for early Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:24 pm

IFF

International Flavors & Fragrances Inc (IFF) shares dropped premarket after reporting mixed Q4 FY23 results and announcing a dividend cut. Revenue slightly exceeded expectations, but adjusted EPS fell short. The company plans to halve its quarterly dividend to improve financial flexibility. FY24 outlook anticipates modest volume growth amid macroeconomic uncertainty, with sales projections below consensus. IFF also announced a new CEO, J. Erik Fyrwald.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 1:22 pm

RGEN

Repligen's shares are trading lower due to the company issuing weak guidance for the year 2024, indicating potential challenges ahead.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:17 pm

TOL

Toll Brothers, Inc. (NYSE:TOL) shares rose in premarket trading on Wednesday after the company reported Q1 2024 earnings and revenue that exceeded analyst expectations. Earnings per share were $2.25, surpassing the consensus of $1.78, with revenues at $1.948 billion against expected $1.859 billion. The company also reported a 42% year-over-year increase in net signed contract value and a 40% increase in contracted homes. Despite a decrease in backlog value and homes, the gross margin on home sales improved. CEO Douglas C. Yearley, Jr. announced an increase in full-year guidance and highlighted the company's strong land position for future growth. TOL shares were up 3.09% to $106.75 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 1:12 pm

PM

Philip Morris International Inc. (PMI) reaffirmed its FY24 EPS forecast at the 2024 CAGNY Conference, projecting a 7%-9% currency-neutral growth. The presentation highlighted PMI's transition towards a smoke-free business, integration with Swedish Match, and strong financial performance. The forecast anticipates a reported diluted EPS of $5.90-$6.02 and an adjusted diluted EPS of $6.32-$6.44, aligning with consensus expectations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:09 pm

WING

Wingstop reported Q4 adjusted EPS of $0.64, surpassing the $0.57 estimate, and sales of $127.06M, exceeding the $119.8M estimate. This represents a 6.67% increase in earnings and a 21.16% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:07 pm

IVP

MOTS

NEO

TDOC

In Wednesday's pre-market session, several healthcare stocks showed significant movement. Inspire Veterinary, Motus GI Holdings, and Talphera were among the top gainers, with notable increases in their stock prices. Conversely, Avinger, Biofrontera, and Teladoc Health were among the top losers, experiencing significant declines. NeoGenomics and Teladoc Health released their Q4 earnings, impacting their stock prices.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 1:06 pm

ENVX

VCIG

VRT

In Wednesday's pre-market session, several industrials stocks showed significant movement. VCI Global, Energy Focus, and Intuitive Machines were among the top gainers, with increases of 83.0%, 43.41%, and 28.29% respectively. On the losing side, Vertiv Holdings, Staffing 360 Solutions, and Roma Green Finance saw declines of 11.3%, 10.37%, and 7.86%. Notably, Vertiv Holdings and Alight released their Q4 earnings today, while Enovix did so yesterday.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 1:06 pm

AMPL

HOLO

PANW

SEDG

In Wednesday's pre-market session, several Information Technology stocks showed significant movement. Gainers included MicroCloud Hologram, CCSC Technology, Rubicon Technologies, AEye, Intrusion, and Taoping with increases ranging from 5.26% to 22.2%. On the downside, Sequans Communications, Palo Alto Networks, Amplitude, SolarEdge Technologies, Genasys, and Infobird Co saw declines between 11.8% and 24.3%, with some attributing their drops to recent earnings releases.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 1:06 pm