Streetbeat News

Earnings

CVS

Benzinga's options scanner revealed significant trading activity in CVS Health (NYSE:CVS), with a mix of bullish and bearish sentiments among big-money investors. The detected options trades suggest a price target range of $70.0 to $80.0 for CVS over the next three months. The trading activity includes 8 uncommon options trades, with 6 puts totaling $303,288 and 2 calls totaling $93,600. CVS Health's current market status shows a slight increase in stock price to $75.65, with neutral RSI readings and an anticipated earnings release in 62 days. Analysts have provided an average target price of $86.33, with varying ratings from Outperform to Overweight.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:17 pm

ENVB

Enveric Biosciences, Inc. (NASDAQ:ENVB) shares surged after announcing three non-binding term sheets with an undisclosed biotech company for out-licensing compounds, potentially earning up to $200 million plus royalties. The deals are contingent on IND approvals and successful Phase I-III testing. CEO Joseph Tucker highlighted the potential revenue and value creation from Enveric's discovery platforms. Additionally, ENVB has an average 1-year price target of $10, indicating a significant upside.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 4:16 pm

GDRX

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares surged after reporting Q4 FY23 results with revenue and adjusted revenue up 7% Y/Y to $196.6 million, surpassing estimates. Prescription transactions revenue increased 11% to $143.9 million, driven by an 8% rise in Monthly Active Consumers. Adjusted EBITDA and EPS also beat expectations. The company announced a new stock repurchase program worth $450 million and provided FY24 revenue guidance above consensus.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 4:16 pm

PSCD

SIX

Six Flags Entertainment Corp (NYSE:SIX) reported a 5% year-on-year sales growth for Q4 fiscal 2023, reaching $293 million, which missed the analyst consensus of $297.5 million. The adjusted EPS was 18 cents, below the consensus of 27 cents. Attendance increased by 6% Y/Y to 4.3 million guests, but total guest spending per capita decreased by 1% Y/Y to $64.19. Operating income and margin significantly declined Y/Y, while adjusted EBITDA remained nearly flat. The company noted early success in sales of 2024 passes, which are ahead of last year. Invesco S&P SmallCap Consumer Discretionary ETF (NASDAQ:PSCD), with 1% exposure to SIX, gained close to 6% last month. SIX shares traded higher by 4.07% at $25.60 premarket.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 4:14 pm

DELL

Dell Technologies Inc. (NYSE:DELL) is set to release its Q4 earnings after the market closes on Feb. 29, 2024, with analysts forecasting a decrease in earnings per share from $1.80 to $1.73 and a drop in revenue from $25.04 billion to $22.16 billion year-over-year. The company also announced the introduction of a new portfolio of commercial AI laptops and mobile workstations. Ahead of the earnings call, several analysts have revised their ratings and price targets for Dell, with positive adjustments reflecting optimism about the company's performance.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 4:11 pm

FA

First Advantage's stock is trading lower due to disappointing Q4 results and weak 2024 guidance. Additionally, the company plans to acquire Sterling Check for $2.2 billion in a cash and stock deal.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:10 pm

DFH

Dream Finders Homes shares surged following the announcement of their Q4 earnings, which exceeded analysts' expectations in both EPS and revenue.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:07 pm

STRA

Strategic Education's shares surged following the announcement of their fourth-quarter financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:06 pm

BUD

Anheuser-Busch InBev SA/NV (NYSE:BUD) reported Q4 fiscal 2023 revenue of $14.473 billion, missing consensus estimates of $15.49 billion, with a 6.2% organic growth year-over-year. Total volumes declined by 2.6%, with own beer volumes down 3.6%. U.S. revenues fell 17.3% Y/Y, largely due to Bud Light's volume decline. Gross profit and normalized EBITDA saw organic growths of 5.3% and 6.2%, respectively. The company executed $870 million of its $1 billion share repurchase program. BUD shares dropped 3.28% to $60.40.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 4:05 pm

GE

Eight analysts have recently updated their ratings on General Electric (NYSE:GE), showing a mix of bullish and somewhat bullish sentiments, with an average 12-month price target of $151.0, up from $137.00. The ratings adjustments reflect analysts' responses to GE's market performance and company developments. GE's financials indicate strong growth, profitability, and effective debt management, with a notable market capitalization, revenue growth of 15.43%, a net margin of 8.2%, ROE of 5.68%, and ROA of 1.0%. The company's strategic positioning and financial health are highlighted as key factors in its market performance.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:01 pm