Streetbeat News

Earnings

VERV

Verve Therapeutics (NASDAQ:VERV) reported Q4 earnings, beating estimates with an EPS of $-0.69 against an expected $-0.82 and saw a revenue increase of $4.13 million year-over-year. Despite beating last quarter's EPS estimate, the share price dropped by 10% the following day.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 1:50 pm

LOW

Lowe's Companies Inc (NYSE:LOW) reported Q4 FY23 sales of $18.60 billion, slightly above estimates but saw a 6.2% Y/Y decrease in comparable sales due to weak DIY demand and unfavorable weather. Despite this, EPS of $1.77 beat estimates. Gross profit and operating income fell, but margins improved. The company issued a weak FY24 outlook with expected revenue and EPS below consensus estimates, leading to a 1.22% premarket drop in LOW shares.

Portfolio Pulse from Lekha Gupta

February 27, 2024 | 1:46 pm

HIMS

JANX

PUBM

Shares of Janux Therapeutics (JANX), PubMatic (PUBM), and Hims & Hers Health (HIMS) surged following positive updates. JANX soared 156% after announcing promising clinical data. PUBM jumped 38% on strong Q4 results and future guidance. HIMS increased 22% also due to favorable Q4 outcomes and guidance.

Portfolio Pulse from ryanfaloona@benzinga.com

February 27, 2024 | 1:44 pm

WVE

Wave Life Sciences Ltd. announced its participation in the 2024 MDA Clinical & Scientific Conference, highlighting the potential of WVE-N531 for Duchenne muscular dystrophy (DMD). The presentations will showcase clinical and preclinical data, including the first evidence of satellite cell uptake in DMD therapy, significant drug concentrations in non-human primates, and the impact of Wave's PN chemistry on exon skipping and dystrophin restoration. The FORWARD-53 study is evaluating WVE-N531's ability to restore dystrophin, with 24-week data expected in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:44 pm

RBA

Ritchie Bros. Auctioneers (NYSE:RBA) reported a successful premier global auction event in Orlando, FL, from Feb. 19-23, generating over $258 million in gross transaction value from the sale of 16,500+ equipment items, trucks, and vehicles. The event attracted 22,000+ bidders from over 80 countries, with 83% of equipment sold to U.S. buyers. Additionally, Ritchie Bros.' online platforms hosted auctions in Australia and on IronPlanet, contributing to a total of over $300 million in GTV sold last week.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:42 pm

AZO

AutoZone's stock is trading higher following the announcement of their Q2 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:41 pm

PNW

Pinnacle West Capital (PNW) projects its FY24 EPS to be between $4.60 and $4.80, following the conclusion of APS's rate case. This forecast is slightly below the estimated $4.80. The company's 2024 earnings guidance and key factors are detailed in their year-end/fourth-quarter 2023 earnings presentation available on their website.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:39 pm

PNW

Pinnacle West Capital (PNW) reported Q4 earnings per share (EPS) of $0.00, an improvement over the estimated $(0.13), but missed sales estimates with $991.57M against the expected $1.12B, marking an 11.47% miss and a 1.76% decrease from last year's $1.01B.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:38 pm

ZM

Zoom Video Communications Inc (NASDAQ:ZM) reported better-than-expected Q4 financial results, issued strong guidance, and announced a new $1.5 billion share repurchase program. Q4 revenue rose 2.6% YoY to $1.15 billion, surpassing estimates. Earnings per share were $1.42, beating estimates of $1.15. The company ended the quarter with 220,400 enterprise customers, a 3.5% increase YoY, and introduced Zoom AI Companion. FY24 revenue is expected to be around $4.6 billion, with earnings between $4.85 and $4.88 per share.

Portfolio Pulse from Adam Eckert

February 27, 2024 | 1:35 pm

U

Unity Software Inc (NYSE:U) shares fell after reporting Q4 financial results. Revenue increased 35% YoY to $609 million, beating estimates, but the loss per share of 66 cents missed expectations. The company forecasts Q1 strategic portfolio revenue between $415 million to $420 million and full-year 2024 revenue of $1.76 billion to $1.8 billion. Piper Sandler upgraded Unity from Underweight to Neutral, lowering the price target from $35 to $30. Shares were down 13.3% at $28.65.

Portfolio Pulse from Adam Eckert

February 27, 2024 | 1:33 pm