Streetbeat News

Earnings

SNY

Sanofi's shares dropped following the announcement of disappointing Q4 financial results and weaker-than-expected FY24 EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:58 pm

SHEL

Shell's shares surged following the announcement of better-than-expected Q4 financial results, FY24 guidance, a $3.5 billion share buyback program, and a 4% dividend increase for Q4.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:57 pm

CAH

Cardinal Health Inc (NYSE:CAH) reported a 38% Y/Y increase in Q2 FY24 adjusted EPS to $1.82, surpassing consensus estimates. Sales rose 12% to $57.45 billion, also beating expectations. The pharmaceutical segment saw a 12% increase, while the Medical segment grew by 3%. Cardinal Health announced the acquisition of Specialty Networks for $1.2 billion, aiming to expand its specialty therapeutic areas. The company raised its FY24 adjusted EPS guidance and forecasts sales growth in its Pharmaceutical and Specialty Solutions and GMPD segments. Despite the positive report, CAH shares dropped 4.30% to $104.49.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 4:52 pm

CTVA

Corteva, Inc. (NYSE:CTVA) shares rose after reporting Q4 financial results surpassing analyst estimates and announcing a $1 billion repurchase plan. Adjusted earnings were 15 cents per share, a slight decrease from the previous year, with sales also seeing a minor decline. The repurchase plan is set for 2024. Mizuho analyst Chris Parkinson maintained a Buy rating but lowered the price target from $59 to $56. Corteva's stock is trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 4:51 pm

AAPL

QCOM

Qualcomm Inc (QCOM) shares fell despite beating Q1 expectations and extending its deal with Apple Inc (AAPL). Analysts remain positive, raising price targets and highlighting strong Android demand, automotive growth, and a recovery in the IoT sector. However, Huawei's re-entry into the Chinese 5G market is flagged as a key risk.

Portfolio Pulse from Priya Nigam

February 01, 2024 | 4:47 pm

KRE

NYCB

Regional bank stocks, including New York Community Bancorp (NYSE:NYCB), have plunged due to concerns over commercial real estate exposure. The SPDR S&P Regional Banking ETF (NYSE:KRE) fell over 11% in two days, marking its worst slump since March 2023. Analysts have downgraded NYCB's price target and expressed concerns over the sector's exposure to commercial real estate loans, with NYCB having the highest concentration at 56% of total loans.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 4:46 pm

MO

Altria Group's shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company provided optimistic adjusted EPS guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:45 pm

DOV

Dover Corp (NYSE:DOV) reported a slight decline in Q4 fiscal 2023 revenue by 1.6% Y/Y to $2.106 billion, missing consensus estimates. However, adjusted EPS increased by 13% Y/Y to $2.45, surpassing expectations. The company saw improvements in gross profit, operating income, and adjusted segment EBITDA. Operating cash flow and free cash flow also saw significant increases. Dover anticipates demand conditions to improve throughout 2024, projecting GAAP EPS of $7.90-$8.10 and adjusted EPS of $8.95-$9.15, with revenue growth expected between 2%-4%. Shares rose 1.63% to $152.22.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 4:45 pm

MRK

Merck & Co's shares saw an increase following the announcement of their Q4 financial results, which surpassed expectations. Additionally, the company provided an adjusted EPS guidance for FY24 that exceeded analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:43 pm

GOOG

MSFT

NVDA

Microsoft Corporation (NASDAQ:MSFT) reported strong quarterly results, with revenue and net income surpassing analyst expectations, driven by significant growth in its Azure cloud service. In contrast, Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) disappointed with lower-than-expected holiday-season advertising sales. Microsoft's success in AI, highlighted by its partnership with ChatGPT-maker OpenAI and the use of its AI tools by major corporations, has contributed to its stock's rise. Microsoft, along with other tech giants, has significantly influenced market performance, with Microsoft and Nvidia Corporation (NASDAQ:NVDA) accounting for a substantial portion of the S&P 500's gains.

Portfolio Pulse from Upwallstreet

February 01, 2024 | 4:41 pm