Streetbeat News

Earnings

JCI

Johnson Controls Intl Inc. (NYSE:JCI) shares increased by 0.23% and have risen by 7.80% over the past month, despite a 21.55% decline over the past year. The company's P/E ratio is lower than the Building Products industry average, which could indicate that the stock is undervalued or that shareholders expect lower future performance.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 8:30 pm

GOGL

Golden Ocean Group's stock is trading higher following the announcement of Q3 revenue results that surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:07 pm

FDX

Citi analyst Christian Wetherbee predicts FedEx Corp (NYSE:FDX) will exceed Q2 expectations, maintaining the company as a top pick. Despite headwinds in the transport sector, Wetherbee's estimates remain above the Street's, at $4.51 for Q2 and $18.75 for FY24. Macro factors, DRIVE cost initiatives, better LTL results, and an extra Cyber-Week day are expected to contribute to another strong quarter. However, it's uncertain if FedEx will raise its guidance due to fundamental transport sector headwinds. FedEx shares saw a slight increase of 0.18% to $256.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 7:53 pm

ENPH

Mizuho Securities analyst Maheep Mandloi initiated coverage on Enphase Energy Inc (ENPH) with a Buy rating and a price target of $131. Mandloi highlights ENPH's strong U.S. market position, growth in battery storage, and international expansion. Despite near-term market slowdown and expected FY24 revenue decline, the analyst predicts recovery and growth in H2 FY24 and beyond. ENPH's Q3 FY23 earnings missed estimates, and shares are currently trading slightly lower.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 7:45 pm

AIRE

BURL

GLMD

HIBB

SYM

VTVT

U.S. stocks declined as the FOMC minutes were released, with the Dow, NASDAQ, and S&P 500 all falling. Health care shares rose by 0.8%, while information technology shares dropped by 0.9%. Burlington Stores, Symbotic, and Hibbett saw their shares rise after reporting positive financial results. Conversely, reAlpha Tech, vTv Therapeutics, and Galmed Pharmaceuticals experienced significant share price drops due to a public offering, reverse stock split, and study delay, respectively. Gold prices increased by 1.1%, and sales of previously owned homes in the U.S. fell by 4.1%.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 7:35 pm

YOU

Needham analyst Joshua Reilly reiterated a Buy rating on Clear Secure Inc (NYSE:YOU) with a $40 price target, citing potential ARPU growth from recent pricing strategy changes. The analyst expects increased ARPU in FY24 due to price increases, a shift in customer mix towards full-price members, and the diminishing negative impact of Amex Platinum pricing step-downs. Reilly projects Q4 revenue and adjusted EPS to slightly exceed consensus estimates. Shares of YOU traded slightly higher.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 7:33 pm

HSY

RBC Capital Markets analyst Nik Modi downgraded The Hershey Co (HSY) to Sector Perform from Outperform with a lowered price target of $213 from $239, citing an expected competitive landscape in 2024 with increased marketing and innovation from rivals like Mars and Ferraro/Ferrera. Hershey's shares have been under pressure due to the underperformance of the packaged food space and share erosion. Modi also cut revenue and EPS estimates for FY23 and FY24, reflecting challenges in regaining volume growth and market share amidst rising sugar/cocoa costs and macroeconomic factors.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 7:00 pm

TRMR

Tremor Intl (NASDAQ:TRMR) is scheduled to release its quarterly earnings report on Wednesday, 2023-11-22, with analysts expecting an EPS of $0.06. Investors are looking for an earnings beat and positive guidance for future growth. Tremor Intl's stock performance has been negative over the past year, with a 49.34% decline. The company's past earnings have shown mixed results, with both misses and beats, affecting the stock price variably.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

MKSI

KeyBanc analyst Steve Barger maintains an Overweight rating on MKS Instruments, Inc (MKSI) with a price target of $115, citing a strong position in semiconductor and substrate manufacturing equipment. Barger believes MKSI is poised for upside due to cyclical recovery in advanced electronics and unappreciated potential in advanced packaging. He expects earnings to rebound as the cycle improves and the company focuses on deleveraging. Barger's Q4 revenue and EPS projections slightly exceed consensus estimates.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 6:50 pm

ANET

CSCO

INTC

JNPR

MRVL

NVDA

Susquehanna analyst Christopher Rolland maintains a Positive rating on Marvell Technology (MRVL) with a $70 price target, despite expecting in-line earnings and weaker guidance due to industry headwinds. Rolland highlights Marvell's AI strengths, particularly in PAM4 DSPs (Inphi), which benefit from Nvidia's (NVDA) demand. However, challenges in Storage, Carrier, and Networking may offset AI momentum. Other companies like Cisco (CSCO), Intel (INTC), AMD, Arista Networks (ANET), and Juniper Networks (JNPR) have mixed outlooks, with Cisco's guidance notably weaker. Marvell's gross margins are expected to expand in Q4 due to an improved mix.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 6:38 pm