Streetbeat News

Products Services

BSX

Boston Scientific Corporation (NYSE:BSX) reported better-than-expected Q1 earnings, with revenues of $3.86 billion surpassing the consensus estimate of $3.69 billion. The company's cardiovascular segment led sales, contributing to a 13.8% year-over-year revenue increase. Adjusted EPS was $0.56, beating both consensus and management's guidance. Following these results, Boston Scientific raised its 2024 profit forecast, expecting net sales growth of 11%-13% and adjusted EPS of $2.29-$2.34. Shares soared 6.02% to $73.15.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 4:42 pm

BLNK

Blink Charging Co. (NASDAQ:BLNK) announced a collaboration with Evri, a UK parcel delivery company, to install EV charging hubs at Evri's sorting center in Rugby, marking the beginning of a larger program aimed at achieving net-zero emissions by 2035. The initial phase includes the installation of twelve chargers, with plans to expand Blink's offerings in the UK and Ireland. Despite this development, BLNK shares have dropped over 67% in the past year and are currently trading lower.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 4:37 pm

CGEM

Cullinan Therapeutics' stock price increased following the announcement that clinical data from its Phase 1 trial of CLN-619 for advanced solid tumors will be presented at the 2024 ASCO Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:22 pm

ABNB

Mizuho Securities analyst James Lee upgraded Airbnb Inc (NASDAQ:ABNB) from Neutral to Buy, raising the price target from $150 to $200. Lee highlights the potential for Airbnb to leverage AI in disrupting the OTA industry and sees sponsored listings as offering a significant long-term EBITDA upside. Despite a reduction in room night growth expectations for 2024, Lee believes Airbnb can outperform due to factors like the Summer Olympics and higher hotel prices.

Portfolio Pulse from Priya Nigam

April 24, 2024 | 4:16 pm

GD

General Dynamics announced its expectation to deliver about 50 G700 aircraft within the current year, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:16 pm

BIIB

Biogen Inc (NASDAQ:BIIB) reported Q1 adjusted EPS of $3.67, beating consensus but with a 7% year-over-year sales decline to $2.29 billion, missing expectations. Multiple sclerosis and rare disease revenues fell, while Leqembi (Alzheimer's drug) sales showed significant growth. The company reaffirmed its fiscal 2024 EPS guidance and expects a low to mid-single-digit percentage decline in total revenue. Shares rose 4.47% following the report.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 4:12 pm

UNH

UnitedHealth Group's Optum is shutting down its Optum Virtual Care business, which offered online urgent and primary care visits and prescription refills. This move raises questions about UnitedHealth's strategy in the virtual care space, especially after the business was a significant part of its telehealth services expansion in 2021 due to the Covid-19 pandemic.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:10 pm

OC

Owens Corning Inc (NYSE:OC) reported a slight decline in Q1 fiscal 2024 net sales to $2.3 billion, narrowly beating consensus estimates. Despite a sales drop, the company saw a significant increase in adjusted EPS to $3.59 from $2.80 a year ago, surpassing expectations. Adjusted EBIT and EBITDA also rose, with margins expanding significantly. The company highlighted its margin expansion and enhanced product lineup as key drivers of its performance. Owens Corning also reported positive operating cash flow, continued share repurchases, and dividend payments. Looking ahead, it expects Q2 net sales to align with the previous year and maintains a focus on innovation with 13 new or enhanced products introduced.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:06 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after announcing the completion of the first phase of battery line integration at its high energy facility. The company targets the production line start for early 2025, expecting to hire over 200 people. CEO David Michery highlighted the plant's role in strengthening the supply chain and supporting American-made battery components. Mullen also announced the production of its 500th commercial electric vehicle and plans for expansion into Europe and the U.S. Nearly 10 million shares have been traded, with a 25.04% short interest. MULN shares are up 44% at $3.93.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 4:05 pm

NVO

SPY

Senator Bernie Sanders is leading a Senate Committee investigation into Novo Nordisk's pricing of Ozempic and Wegovy, popular diabetes and weight loss medications. The inquiry aims to understand the rationale behind the drugs' pricing strategies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:03 pm