Streetbeat News

Earnings

JPM

Financial giants have shown a bullish sentiment towards JPMorgan Chase (NYSE:JPM), with 54% of traders being bullish based on recent unusual options activity. The activity includes 11 trades, with a notable preference for calls over puts, indicating a price target range of $100.0 to $190.0 for the next three months. JPMorgan Chase, a major financial institution with nearly $4 trillion in assets, is currently trading at $184.91, up by 0.8%, but may be overbought according to RSI readings. Its next earnings release is anticipated in 44 days.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 4:00 pm

JNJ

13 analysts have provided diverse opinions on Johnson & Johnson (JNJ) over the past quarter, with sentiments ranging from bullish to bearish. The average 12-month price target for JNJ has been raised to $191.0, indicating a 10.72% increase from the previous target of $172.50. Analysts' actions include maintaining, raising, and lowering ratings and price targets, reflecting their reaction to JNJ's market performance. JNJ's financial performance shows solid revenue growth, exceptional net margin, and strong ROE and ROA, with a conservative debt management approach.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 4:00 pm

PTN

Palatin Technologies Inc (NASDAQ:PTN) shares plummeted after the company announced results from its Phase 3 clinical trial for PL9643 in treating dry eye disease (DED), which showed mixed efficacy results. While the treatment demonstrated statistically significant results for the primary symptom of pain and other symptom endpoints, it did not achieve statistical significance for the primary sign endpoint and secondary sign endpoints. The company noted the treatment's clinical meaningfulness and ongoing additional analyses.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 3:57 pm

ALHC

Alignment Healthcare's shares dropped following the announcement of disappointing Q4 GAAP EPS results, falling short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:56 pm

BGS

B&G Foods' shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company provided positive revenue guidance for FY24. Despite this, Piper Sandler maintained an Underweight rating on B&G Foods but increased the price target from $8 to $9.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:54 pm

MRK

MRNA

MYNZ

Merck's Phase 3 LEAP-001 trial for endometrial carcinoma treatment with Keytruda failed, reflecting challenges in treating advanced cancers. Despite this, Merck is progressing with trials for a mRNA vaccine developed with Moderna against melanoma and plans to test it against other cancers. Merck also signed a $45 million licensing agreement with Inspirna for colorectal cancer treatment. Mainz Biomed showcased its ColoAlert® diagnostic solution at the Gynecology Congress, emphasizing the role of gynecologists in colorectal cancer screening and surpassing traditional methods by detecting tumor DNA and pre-cancerous lesions.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 3:54 pm

ADT

ADT Inc. reported a 7.2% decline in Q4 fiscal 2023 sales to $1.22 billion, missing expectations. However, adjusted EPS of $0.25 beat the consensus of $0.04. The company announced exiting its residential solar business, reduced debt by $2.1 billion, and expects 2024 CSB segment revenue of $4.8-$5.0 billion with adjusted EPS of $0.60-$0.70. ADT shares rose 7.5% to $7.02.

Portfolio Pulse from Akanksha Bakshi

February 28, 2024 | 3:52 pm

NVAX

Novavax Inc (NASDAQ:NVAX) reported a Q4 2023 revenue of $291 million, missing the consensus of $321.97 million, and a net loss of $178 million. The company's full-year 2023 revenue was $984 million, down from $2 billion in 2022. EPS loss for Q4 was $(1.44), worse than the consensus of $(0.45). Novavax announced workforce reductions and a settlement with Gavi over a 2021 advance purchase agreement. The company forecasts 2024 revenue of $800 million-$1 billion, below the consensus of $969.56 million. NVAX shares dropped 29.30% to $4.25.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 3:52 pm

MSTR

Financial analysis reveals a bearish sentiment among big money traders on MicroStrategy (NASDAQ:MSTR), with 60% showing bearish tendencies in options trading. The analysis highlighted 149 unusual trades, with a significant portion being calls. The predicted price range for MSTR is between $200.0 and $1450.0. Currently, MSTR's stock is up by 9.89%, trading at $957.99, with potential overbought conditions indicated by RSI readings. The company is a provider of enterprise analytics and mobility software.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 3:46 pm

VTYX

Ventyx Biosciences shares surged following the announcement of better-than-expected GAAP EPS results.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:39 pm