Streetbeat News

Partnerships

FDX

UPS

United Parcel Service, Inc. (NYSE:UPS) reported a decline in Q1 earnings due to a shipping slump and high labor costs from a new union deal guaranteeing $170,000 salaries for delivery drivers. Despite this, shares rose 2.4% as profits exceeded expectations. UPS also secured a significant contract with the USPS, replacing FedEx Corp (NYSE:FDX) as the primary air cargo service provider, which is expected to support revenue despite ongoing volume declines.

Portfolio Pulse from Natan Ponieman

April 23, 2024 | 9:38 pm

IHRT

iHeartMedia and Deep Blue Sports + Entertainment have announced a partnership to launch the Women's Sports Audio Network, aiming to enhance women's sports coverage across various platforms including broadcast radio, podcasts, streaming, and events. The network will feature prominent sports figures such as Sarah Spain and Sheryl Swoopes.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:13 pm

ALGT

TNL

Travel + Leisure Co. and Allegiant have entered a multi-year marketing agreement to share promotional offerings, leveraging their substantial membership bases for mutual benefit.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:45 pm

BA

SPR

Spirit Aerosystems announced that Boeing will make an advance payment of $425M to support Boeing's contractual demands, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:12 pm

DELL

INTC

Dell shares are experiencing an uptick due to overall strength in the technology sector. Additionally, Dell announced an expansion of its edge partner ecosystem, including collaborations with Hyundai AutoEver and Intel.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 7:00 pm

DIS

PENN

PENN Entertainment was upgraded from Hold to Buy by Truist analyst Barry Jonas, with a price target of $23, based on the valuation of sportsbook ESPN Bet, launched in November 2023 through a licensing deal with The Walt Disney Company. Jonas believes the market has not assigned any value to ESPN Bet in its valuation of PENN, despite its potential and the value of PENN's other Interactive businesses. The first-quarter results expected on May 2 could surpass low market expectations. PENN's online licenses and iGaming business are also highlighted as valuable assets.

Portfolio Pulse from Chris Katje

April 23, 2024 | 6:42 pm

RTX

RTX Corporation (NYSE:RTX) reported a first-quarter FY24 adjusted net sales increase of 12% Y/Y to $19.3 billion, surpassing the consensus of $18.4 billion. Adjusted EPS rose 10% Y/Y to $1.34, beating the consensus of $1.23. The company reiterated its FY24 outlook, expecting sales of $78 billion-$79 billion and adjusted EPS of $5.25-$5.40. RTX's operating cash flow for the quarter was $0.3 billion, with a free cash outflow of $(0.1) billion. The backlog at the end of the quarter stood at $202 billion. RTX also entered into an energy supply agreement with ENGIE Resources LLC, a subsidiary of ENGIE North America.

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 5:49 pm

EA

TTWO

Electronic Arts Inc. (NASDAQ:EA) is set to report its F4Q earnings on May 7, with expectations moderated due to macroeconomic challenges and a conservative outlook on live service bookings and game releases. Analysts from Oppenheimer, Martin Yang and Andrew Northcutt, maintain an Outperform rating on EA with a $150 price target, citing decent downside protection despite market challenges. The report anticipates strategic discussions on EA's digital and mobile growth, new game launches, and potential for strategic mergers and acquisitions. EA's stock was trading at $127.50, showing a slight increase. The analysts also compare EA favorably to Take-Two Interactive Software Inc (NASDAQ:TTWO), suggesting EA as a better buy in the near term.

Portfolio Pulse from Franca Quarneti

April 23, 2024 | 5:47 pm

NBIX

TAK

Neurocrine Biosciences Inc (NASDAQ:NBIX) announced positive Phase 2 results for NBI-1065845, a treatment for major depressive disorder (MDD), developed in collaboration with Takeda Pharmaceutical Company Limited (NYSE:TAK). The study met its primary and key secondary endpoints, showing significant improvement in depression scores. The treatment was well tolerated, with headache being the most common adverse event. William Blair maintains an Outperform rating on Neurocrine, highlighting the potential for significant sales and the importance of Ingrezza revenue.

Portfolio Pulse from Vandana Singh

April 23, 2024 | 5:28 pm

VUZI

Vuzix has received additional orders for its M400 Smart Glasses from a global retailer, marking an expansion in its enterprise penetration as an industry leader in providing tools for improved warehousing solutions. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:47 pm