Streetbeat News

Earnings

SHC

Sotera Health Company, a provider of sterilization solutions and lab services for healthcare, presented at the J.P. Morgan Healthcare Conference, forecasting FY23 revenues of $1.04B-$1.05B, aligning with estimates. CEO Michael B. Petras, Jr. highlighted the company's growth and critical role in healthcare. Full-year financial results will be reported on February 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:49 pm

TFC

Truist Finl Inc. (NYSE:TFC) stock dropped by 0.87% to $37.67 in the current market session, with a 10.66% increase over the past month but an 18.62% decrease over the past year. The company's P/E ratio is lower than the Banks industry average, which could indicate either potential undervaluation or a lack of expected future growth. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for investment decisions.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 3:45 pm

CAH

Cardinal Health's stock is trading lower following the company's update on its FY24 adjusted EPS guidance and the reiteration of its long-term financial targets. Additionally, Cardinal Health announced a new $250 million share repurchase program set to begin in Q2.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:36 pm

MXCT

MaxCyte Inc (NASDAQ:MXCT) shares rose over 9% following the announcement of strong preliminary Q4 and full-year 2023 revenue results, surpassing consensus estimates. Q4 revenue is projected between $15.5 million and $15.7 million, with core revenue between $7.0 million and $7.2 million, and SPL Program-related revenue around $8.5 million. For FY23, revenue is expected to be between $41.1 million and $41.3 million, against a consensus of $36.72 million. The company's cash position as of December 31, 2023, was approximately $210 million. CEO Maher Masoud expressed confidence in the company's future despite a challenging operating environment in 2023. Full Q4 results are anticipated to be released in March 2024.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 3:35 pm

CAH

Cardinal Health Inc (NYSE:CAH) shares dropped approximately 4% following an update on its FY24 outlook and ongoing portfolio review. The company expects FY24 adjusted EPS to be at the high end of the $6.75-$7.00 range, aligning with consensus estimates of $6.95. This expectation is due to favorable FY24 interest and shares outstanding from strong cash flow, allowing for an additional $250 million share repurchase in Q2. Cardinal Health reiterated its long-term adjusted EPS growth target of 12%-14% and confirmed a Medical Improvement Plan aiming for at least $650 million in segment profit by FY26. The company has completed a review of growth businesses within the Medical Segment and continues to review its Global Medical Products and Distribution business. Starting January 1, 2024, CAH will have a new enterprise operating and segment reporting structure, which will be included in financial reporting from Q3 FY24. Further updates will be provided on February 1, 2024.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 3:26 pm

RVTY

Revvity shares are trading higher following the announcement of their preliminary Q4 revenue guidance, indicating a positive outlook for the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:22 pm

COIN

Coinbase Global (NASDAQ:COIN) has seen significant options trading activity, with an even split between bullish and bearish sentiment among traders. Analysis of 18 unusual trades revealed 7 puts and 11 calls, with a focus on a price range between $60 and $280. The largest options spotted include both bullish and bearish trades with various expiration dates and strike prices. Coinbase is a leading cryptocurrency exchange platform, and its stock is currently trading at $159.99 with a slight increase of 0.36%. Analysts have issued mixed ratings for COIN, with a consensus target price of $144.67. The company is expected to announce earnings in 42 days.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 3:16 pm

ILMN

Illumina's stock is trading higher following the company's announcement of preliminary Q4 and full-year 2023 revenue guidance that exceeded analysts' expectations.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:15 pm

BMWYY

BMW Group has achieved a new record high in vehicle sales with 2.56 million units in 2023, marking a 6.5% year-over-year increase. The company's BEV sales reached the target of 15%, with significant growth across all regions. The BMW brand grew by 7.3% with 2.25 million vehicles delivered globally. In Q4 2023, BMW Group delivered 129,316 fully-electric vehicles, a 47.7% increase. BMW led the global premium segment in 2023, with electric models growing by 92.2%. The company aims to sell over half a million EVs in 2024. BMWYY shares dropped by 0.81% to $36.79.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 3:11 pm

ADT

HRB

ADT (NYSE:ADT) is set to pay a dividend of $0.04 per share on January 09, 2024, with an annualized yield of 2.51%. Shareholders as of December 13, 2023, will be eligible. ADT's dividend has been consistent at $0.14 per share since 2020, and earnings per share have grown from $-0.27 to $0.46 from 2020 to 2023. H&R Block (NYSE:HRB) has the highest annualized dividend yield in the industry at 2.71%.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 3:05 pm