Streetbeat News

Earnings

AAPL

Apple Inc (NASDAQ:AAPL) executives, including CEO Tim Cook, have sold shares totaling $134.58 million as part of a prearranged trading program. This comes after Apple's Q1 report in February showed earnings per share of $1.88, falling short of the projected $1.94, largely due to underperforming iPhone 14 sales. The recent launch of the iPhone 15 raises questions about the company’s performance expectations for the upcoming quarter.

Portfolio Pulse from AJ Fabino

October 04, 2023 | 5:42 pm

BGS

B&G Foods Inc's shares have dropped by around 11% following a downgrade by Piper Sandler analyst Michael S. Lavery from Neutral to Underweight, with a lowered price target of $8 from $14. The downgrade is due to the company's Q3 US measured retail sales declining by 11.5%, below analysts' expectations. Lavery also noted the risk of trade inventory de-loading due to lower volumes and the impact of retailers adjusting shelf space. BGS's new shares worth $75 million in Q3 have led to FY24 EPS dilution of $0.07, and debt payment and refinancing added a $0.17 hit to FY24 EPS.

Portfolio Pulse from Lekha Gupta

October 04, 2023 | 5:17 pm

SPWR

SunPower Corporation's shares hit a new 52-week low of $5.23 per share. Truist Securities analyst Jordan Levy maintained a Hold rating for the company and lowered the price target from $10 to $6. SunPower's shares have fallen more than 15% over the last five days and 27% for the month. The company is expected to release its third-quarter financial reports on Nov. 1.

Portfolio Pulse from Erica Kollmann

October 04, 2023 | 5:02 pm

AYI

Acuity Brands reported mixed Q4 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 4:54 pm

ATEN

CALM

MKUL

VINO

VVOS

The article lists the stocks that have gained and lost the most in Wednesday's mid-day session. Gaucho Group Holdings, Vivos Therapeutics, and Conduit Pharmaceuticals were among the top gainers, while Molekule Group, A10 Networks, and Inhibikase Therapeutics were among the top losers. Cal-Maine Foods shares fell by around 8% due to weaker-than-expected sales for its first quarter.

Portfolio Pulse from Lisa Levin

October 04, 2023 | 4:48 pm

ROAD

Construction Partners announced preliminary financial results for FY23, which led to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 4:46 pm

AMZN

AYI

EADSY

GOOG

HELE

JNJ

MMM

PLTR

PODD

SFTBF

SNY

TEVA

UAL

UBER

UBS

Palantir is expanding its collaboration with PwC to combine AI capabilities. Anthropic, a competitor to OpenAI, is securing additional funding from Alphabet and Amazon. Sanofi and Teva have collaborated to co-develop a drug for inflammatory bowel disease. Insulet's CFO is resigning to join 3M. United Airlines has ordered 110 more aircraft from Boeing and Airbus. Zoom has unveiled AI-powered innovations. Over 75,000 employees of Kaiser Permanente have initiated a three-day strike. Softbank's CEO emphasized the importance of AGI. Uber is expanding its service offerings to include package return. UBS is offering enticing interest rates to attract clients. A New Jersey appeals court overturned a verdict linked to asbestos exposure in Johnson & Johnson's talc powder products. BP is looking to sell a stake in its U.S. oil and gas pipeline network. Helen Of Troy and Acuity Brands reported their earnings.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:37 pm

PXLW

Pixelworks has announced its preliminary Q3 revenue results and initial Q4 outlook, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 4:02 pm

ATEN

BOF

TSE

VINO

VVOS

U.S. stocks traded higher with the Nasdaq Composite gaining around 1% on Wednesday. The ISM services PMI fell to 53.6 in September. BranchOut Food Inc. (NASDAQ:BOF), Gaucho Group Holdings, Inc. (NASDAQ:VINO), and Vivos Therapeutics, Inc. (NASDAQ:VVOS) saw their shares rise. However, Kineta, Inc. (NASDAQ:KA), A10 Networks, Inc. (NYSE:ATEN), and Trinseo PLC (NYSE:TSE) experienced a drop in their shares. Crude oil fell by 4%.

Portfolio Pulse from Lisa Levin

October 04, 2023 | 3:59 pm

TRN

Trinity Industries' Q3 deliveries fell short of expectations, causing its shares to trade lower. Stephens & Co maintained an Equal-Weight rating on the stock but reduced its price target from $28 to $27.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 3:19 pm