Streetbeat News

Earnings

ENPH

Enphase Energy (NASDAQ:ENPH) received mixed analyst ratings over the past three months, with a shift towards a more neutral stance in the last 30 days. The average 12-month price target for ENPH has risen to $122.93, up 9.56% from $112.20. Analyst actions varied, with several raising, lowering, or maintaining their price targets and ratings. Enphase Energy's financial performance shows challenges, including a significant revenue decline of -45.1% as of December 31, 2023, and below-average profitability and efficiency metrics.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 8:00 pm

ADVM

FDMT

RGNX

Adverum Biotechnologies Inc (NASDAQ:ADVM) reported preliminary safety and efficacy data from its LUNA Phase 2 trial for wet age-related macular degeneration, showing no serious adverse events and significant reduction in treatment burden. Despite positive data, ADVM shares dropped 20.60% to $2.23. The company also announced a $127.5 million private placement expected to fund operations into late 2025. Rivals 4D Molecular Therapeutics (NASDAQ:FDMT) and Regenxbio Inc (NASDAQ:RGNX) also released data on their wet AMD therapies earlier in the week.

Portfolio Pulse from Vandana Singh

February 08, 2024 | 7:59 pm

CX

Cemex shares are trading lower following the announcement of worse-than-expected Q4 revenue results.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:58 pm

PM

Philip Morris International's shares dropped following the announcement of disappointing Q4 adjusted EPS results and weaker-than-expected FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:55 pm

CVX

Recent options trading activity indicates a bearish stance on Chevron (CVX) by large investors, with a mix of bullish and bearish trades observed. The trading window for CVX options ranged from $125.0 to $170.0. Notable trades include both puts and calls with varying sentiments and expiration dates. Chevron, a major integrated energy company, has a current stock price of $152.19 with a slight increase of 0.04%. Analyst ratings have seen some downgrades, with a consensus target price of $167.5. The company's next earnings release is anticipated in 78 days.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 7:46 pm

ARKK

PINS

SARK

TARK

Pinterest, Inc (NYSE:PINS) is anticipated to release its Q4 earnings after market close on Thursday, with expectations set for an EPS of 51 cents on revenues of $989.53 million. The stock has shown strong performance since its Q3 earnings beat, with technical analysis suggesting a potential uptrend continuation. Keybanc analyst Justin Patterson has given Pinterest an Overweight rating with a price target of $48. For diversification, investors might consider the AXS 2X Innovation ETF (NASDAQ:TARK) or the AXS Short Innovation Daily ETF (NASDAQ:SARK), both related to the performance of ARK Innovation ETF (NYSE:ARKK), which holds Pinterest stock.

Portfolio Pulse from Melanie Schaffer

February 08, 2024 | 7:46 pm

DUK

Duke Energy's shares declined following the announcement of disappointing Q4 financial results. The company also provided its FY24 and long-term adjusted EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:42 pm

TRI

Thomson Reuters shares surged following the announcement of better-than-expected Q4 adjusted EPS results and positive FY24 revenue growth guidance. Additionally, the company raised its quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:39 pm

MCK

McKesson Corporation (NYSE:MCK) reported Q3 2024 sales of $80.9 billion, a 15% increase, surpassing the consensus of $77.86 billion, primarily due to growth in the U.S. Pharmaceutical segment. Adjusted EPS was $7.74, up 12% Y/Y, beating the consensus of $7.05. The company revised its FY 2024 adjusted EPS outlook to $27.25-$27.65. Despite positive results and raised price targets by Baird and Citigroup, MCK shares fell 5.22% to $490.00.

Portfolio Pulse from Vandana Singh

February 08, 2024 | 7:30 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) shares dropped after Q4 earnings, despite beating expectations. Analysts have mixed views but generally lowered price targets due to disappointing 2024 guidance. The guidance suggests minimal EPS growth and flat transaction margin dollars, indicating a transition year with investments in product and marketing. Analysts from Piper Sandler, BofA Securities, Goldman Sachs, JPMorgan, Wedbush, Oppenheimer, KeyBanc Capital Markets, and Needham provided insights, with most maintaining neutral or equivalent ratings and adjusting price targets downward.

Portfolio Pulse from Priya Nigam

February 08, 2024 | 7:26 pm