Streetbeat News

Earnings

DIS

PENN

PENN Entertainment Inc (NASDAQ:PENN) reported Q4 financial results, with analysts focusing on the future growth of ESPN Bet. Analysts from Macquarie, Needham, Stifel, and JMP Securities provided insights, highlighting the high investment levels and losses in the digital segment but also noting the potential for future growth and market share gains. The integration of ESPN Bet with ESPN, licensed from Walt Disney Co (NYSE:DIS), is seen as a positive step. PENN shares have seen a decline, reflecting investor concerns and the high costs associated with the ESPN Bet launch.

Portfolio Pulse from Chris Katje

February 16, 2024 | 5:43 pm

CNA

MCY

MRAI

In Friday's intraday session, insurance stocks saw significant movements. Marpai, Mercury General, American Coastal, FG Finl Gr, Employers Holdings, and Palomar Hldgs were among the gainers, with increases ranging from 1.98% to 13.0%. On the downside, CNA Financial, GoHealth, Waterdrop, Oxbridge Re Holdings, Maiden Hldgs, and Fanhua experienced declines between 2.78% and 5.33%. Notably, Mercury General, Employers Holdings, and Palomar Hldgs recently released their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:40 pm

DHI

LEN

PMH

TOL

January's housing starts data revealed a significant decline, with a 14.8% drop overall and a 35.8% fall in multifamily dwellings, attributed partly to severe weather in the Midwest. Despite this, the long-term trend for single-family home starts remains positive. High interest rates have led to increased mortgage rates, affecting home sales and purchases. This has negatively impacted housebuilders' stock performance, with D.R. Horton, Lennar, Pulte Group, and Toll Brothers seeing varied changes in their stock prices. Home Depot's stock, however, is up 5% in 2024, despite potential challenges from a slowing housing market.

Portfolio Pulse from Neil Dennis

February 16, 2024 | 5:38 pm

NKE

Nike Inc (NYSE:NKE) shares dropped after Oppenheimer downgraded the stock to Perform from Outperform and cut the price target to $110 from $150. The downgrade is due to expectations of sluggish top-line trends, concerns over consumer demand, pauses in product innovation, and competitive pressures. Additionally, Nike plans to cut over 1,600 jobs to focus on key categories and aims for $2 billion in cost savings over three years. The analyst also lowered EPS estimates for Q3 and FY26.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 5:37 pm

KNSL

Kinsale Capital's stock price increased following the announcement of their Q4 results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 5:33 pm

PACB

Pacific Biosciences of California's shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 5:31 pm

GXAI

ROKU

TDS

TTD

USM

YELP

In Friday's intraday session, several communication services stocks experienced significant movements. Gaxos.AI, Pop Culture Gr, MoneyHero, WiMi Hologram Cloud, and Trade Desk were among the gainers, with Gaxos.AI leading with a 307.8% increase. On the downside, Roku, Telephone and Data, 9F, United States Cellular, BuzzFeed, and Yelp saw declines, with Roku dropping 23.6%. Earnings reports influenced many of these movements, notably for Trade Desk, Roku, Telephone and Data, United States Cellular, and Yelp.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

AMN

APLT

MODD

ONMD

In Friday's intraday session, several healthcare stocks showed significant movement. OneMedNet, Applied Therapeutics, and Modular Medical were among the top gainers, with shares rising up to 91.2%, 28.53%, and 24.58% respectively. On the losing side, AMN Healthcare Services, Cross Country Healthcare, and Inventiva saw declines of up to 18.9%. Earnings releases influenced some of the stock movements.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

HTOO

SPWR

TYGO

During Friday's intraday session, several industrials stocks experienced significant movements. Fusion Fuel Green (HTOO) saw a notable increase of 128.3%, while Bloom Energy (BE) experienced a significant decline of 19.6%. Other stocks such as Staffing 360 Solutions (STAF), Baiyu Holdings (BYU), and Quad/Graphics (QUAD) also saw considerable gains. Conversely, SunPower (SPWR), Tigo Energy (TYGO), and Babcock & Wilcox (BW) were among the stocks that faced declines, largely attributed to their recent earnings reports.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

FSLY

Deep-pocketed investors have shown a bearish sentiment towards Fastly (NYSE:FSLY), with unusual options activity detected. The activity includes 17 notable options trades, with a bearish majority. Fastly's current market position shows a slight decline in stock price, with analysts giving mixed reviews. The company, known for its content delivery network, primarily serves large enterprises in the U.S. and is approaching an earnings release.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm