Streetbeat News

Earnings

VRTX

Vertex Pharmaceuticals (NASDAQ:VRTX) reported Q2 revenues of $2.65 billion, slightly below estimates, and an adjusted EPS loss of $(12.83). The company raised its 2024 product revenue guidance and highlighted strong performance in its cystic fibrosis franchise. Vertex discontinued development of two AAT correctors but sees potential in its pain management pipeline, including suzetrigine. William Blair reiterated an Outperform rating on Vertex.

Portfolio Pulse from Vandana Singh

August 02, 2024 | 5:48 pm

CVX

Chevron shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:41 pm

AAPL

Analysts from Goldman Sachs, KeyBanc, Piper Sandler, and BofA Securities have provided their insights on Apple Inc. (NASDAQ:AAPL). Goldman Sachs raised its price target to $275, citing a multi-year iPhone upgrade cycle and strong services momentum. KeyBanc reiterated a Sector Weight rating, noting skepticism about a significant acceleration in the upgrade cycle. Piper Sandler maintained a Neutral rating with a $225 price target, highlighting strong iPad and services growth but cautious consumer sentiment. BofA Securities maintained a Buy rating with a $256 price target, expecting strong iPhone upgrade cycles in fiscal years 2025 and 2026.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 5:29 pm

INTC

NVDA

Nvidia Corp (NASDAQ:NVDA) is under scrutiny by hedge fund Elliott Management, which labeled the company a 'bubble' due to overhyped AI technology. Nvidia's stock is trading lower, having lost 12.4% in the last 30 days amid geopolitical tensions and a U.S. semiconductor embargo on China. Additionally, the U.S. Department of Justice has commenced an antitrust review against Nvidia. Intel Corp (NASDAQ:INTC) shares also fell 20% after weak Q2 results and job cut announcements.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 5:14 pm

DELL

HPE

HPQ

PSTG

STX

Shares of hardware and storage stocks are trading lower following a soft outlook from Intel.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:11 pm

MRNA

Moderna shares are trading lower after the company revised its 2024 expectations due to low EU sales, potential revenue deferrals, and increased competition in the US respiratory vaccine market. Multiple analysts have lowered their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:58 pm

OTEX

Open Text shares are trading lower after the company reported worse-than-expected Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:50 pm

CNK

Cinemark Holdings shares are trading higher after the company reported better-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:50 pm

WSC

WillScot Mobile Mini shares are trading lower after the company reported worse-than-expected Q2 sales results. Oppenheimer maintained an Outperform rating but lowered its price target from $53 to $46.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:49 pm

HUBG

Hub Group shares are trading lower after the company reported worse-than-expected Q2 financial results and issued FY24 revenue guidance below estimates. Susquehanna maintained a Neutral rating on the stock and lowered its price target from $45 to $44.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 4:48 pm