Streetbeat News

Revenues

GLD

SLV

Gold and silver are trading lower as Treasury yields rise following strong US economic data.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:52 pm

JILL

J.Jill Inc (NYSE:JILL) shares are trading higher after the company reported better-than-expected first-quarter FY24 earnings and raised its outlook. The company saw a 7.5% increase in sales, a 3.1% rise in comparable sales, and an 11.6% growth in direct-to-consumer net sales. Gross profit grew by 8.6%, and the gross margin expanded by 80 basis points. Operating income increased by 11.8%, and adjusted EPS of $1.22 beat the consensus of $0.99. J.Jill raised its FY24 sales growth guidance to 1%-3% and expects adjusted EBITDA to decline by 1%-3%.

Portfolio Pulse from Shivani Kumaresan

June 07, 2024 | 12:46 pm

TSLA

Morgan Stanley analyst Adam Jonas highlights the significant impact of AI growth on the power grid, which could affect Tesla and other automakers. The projected increase in data center power usage is equivalent to adding 59 million EVs to U.S. roads. Tesla's energy generation and storage segment could aid in managing this increased power demand.

Portfolio Pulse from Anan Ashraf

June 07, 2024 | 12:43 pm

SPY

UUP

The U.S. labor market outperformed expectations in May, with nonfarm payrolls increasing by 272,000 and wages rising by 4.1% year-over-year. This led to a rise in Treasury yields and a rally in the U.S. dollar index, while futures on major U.S. indices fell.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 12:40 pm

VIRC

Virco Manufacturing reported a significant improvement in its Q1 earnings per share (EPS), which rose to $0.13 from a loss of $(0.09) year-over-year. Additionally, the company's net sales increased to $46.735 million from $34.943 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:33 pm

DIA

IWM

QQQ

SPY

Major indexes are trading lower following stronger-than-expected US economic data.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:32 pm

SPY

Private nonfarm payrolls for May increased by 229,000, surpassing the estimated 170,000. This indicates a stronger-than-expected job market.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:30 pm

SPY

The USA Nonfarm Payrolls for May reported an increase of 272,000 jobs, significantly higher than the estimated 182,000 and the prior month's 165,000. This indicates a stronger-than-expected job market.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:30 pm

CNPOF

SMG

Scotts Miracle-Gro (NYSE: SMG) has updated its financial projections for fiscal year 2024, reducing its adjusted EBITDA expectations to $530-$540 million, down from $575 million. The company reaffirmed its $1 billion cash flow target and cost-saving initiatives. Hawthorne, its cannabis-focused subsidiary, is expected to break even by year-end and may benefit from a merger with RIV Capital and Cansortium Inc. Shares of SMG were trading 0.92% lower at $66.91 during Friday's pre-market session.

Portfolio Pulse from Nina Zdinjak

June 07, 2024 | 12:29 pm

GME

JPM

Keith Gill's significant bet on GameStop (GME) has sparked discussions within the cryptocurrency community about its implications and lessons for the crypto industry. If GME reaches $69 per share, Gill could become a billionaire, and many in the crypto space are celebrating his potential win. The event has drawn comparisons to the 'David vs. Goliath' narrative and raised questions about the potential influx of new investors into the crypto market.

Portfolio Pulse from Murtuza Merchant

June 07, 2024 | 12:28 pm