Streetbeat News

Earnings

SWI

SolarWinds Corp plans to open a new office in Riyadh by 2025, driven by growing tech investments in Saudi Arabia. The company has seen double-digit growth since opening a Dubai office in 2022 and is considering moving its EMEA headquarters to Dubai. SolarWinds reported a 4% revenue growth in Q2 2024, surpassing analyst expectations, and anticipates further growth in Q3. The stock has gained 37% over the past year.

Portfolio Pulse from Anusuya Lahiri

October 17, 2024 | 6:29 pm

CSX

CSX Corporation has received a subpoena from the SEC regarding an accounting restatement disclosed in its second-quarter earnings report. The company is also responding to SEC inquiries about its non-financial performance metrics.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 6:16 pm

MPC

Marathon Petroleum's (NYSE:MPC) stock is currently priced at $158.00, showing a slight increase of 0.06%. Over the past month, the stock has decreased by 5.06%, but has increased by 4.69% over the past year. The company's P/E ratio is lower than the industry average, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

October 17, 2024 | 6:15 pm

CERS

GEVO

IRDM

LCID

NIXX

PAL

U.S. stocks rose with the S&P 500 gaining 0.08%. Gevo, Inc. secured a $1.46 billion DOE loan, boosting its stock by 18%. Nixxy, Inc. surged 52% after business updates. Iridium Communications rose 12% on strong earnings. Proficient Auto Logistics fell 28% due to poor earnings outlook. Cerus Corporation dropped 18% after program updates. Lucid Group fell 16% after announcing a new investment.

Portfolio Pulse from Avi Kapoor

October 17, 2024 | 6:12 pm

ELV

EVH

Elevance Health Inc. (NYSE:ELV) reported Q3 revenues of $44.7 billion, surpassing expectations but with a lower EPS forecast. Evolent Health, Inc (NYSE:EVH) is also trading lower due to mixed earnings and guidance from Elevance. Both companies face challenges related to Medicaid utilization and medical cost pressures.

Portfolio Pulse from Vandana Singh

October 17, 2024 | 6:11 pm

MS

Morgan Stanley's Q3 results exceeded expectations, leading to increased price targets from analysts at Barclays and Bank of America. Analysts are optimistic about the company's growth prospects, driven by strong performance in wealth and investment management and a favorable interest rate environment.

Portfolio Pulse from Chris Katje

October 17, 2024 | 6:10 pm

ULTA

BofA Securities analyst Lorraine Hutchinson maintains a Neutral rating on Ulta Beauty (NASDAQ:ULTA) with a $380 price target. The FY25 EPS estimate is reduced by 8% due to more store openings and lower margins. Ulta projects annual sales growth of 4-6% and a new $3 billion share buyback program. FY25 is seen as transitional, with potential shortfalls in long-term targets as the company invests in growth initiatives.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2024 | 5:58 pm

AA

PWER

XME

Alcoa's Q3 sales missed expectations, but EPS exceeded forecasts. JPMorgan raised its price target for Alcoa, citing potential savings and benefits from strategic initiatives. The analyst remains cautious about aluminum's near-term outlook due to global economic factors.

Portfolio Pulse from Lekha Gupta

October 17, 2024 | 5:55 pm

SOFI

Whales have shown a bearish stance on SoFi Techs (NASDAQ:SOFI) with 84% of options trades being bearish. The stock is currently down 2.14% at $9.82, and RSI indicators suggest it may be overbought. The next earnings report is due in 12 days.

Portfolio Pulse from Benzinga Insights

October 17, 2024 | 5:48 pm

NOK

Nokia is cutting 2,000 jobs in China and 350 in Europe as part of its cost-cutting measures. The company aims to save up to 1.2 billion euros by 2026. Despite a 9% rise in Q3 operating profit, Nokia's net sales missed estimates, causing a 4% drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 5:47 pm