Streetbeat News

Revenues

BIRK

Birkenstock Holding plc (NYSE:BIRK) reported a 22% increase in Q2 revenue, beating expectations with strong global demand. Revenue reached EUR 481 million, and adjusted EPS stood at EUR 0.41. The company raised its FY24 revenue and adjusted EBITDA guidance, despite a decline in gross margin due to production capacity expansion and inflation-related wage adjustments.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 1:12 pm

MSFT

NFLX

Netflix is developing a TV series based on the popular video game 'Minecraft'. This move is expected to attract a large audience given the game's massive fanbase. Microsoft, the owner of 'Minecraft', could see increased engagement and revenue from this new venture.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 1:11 pm

AI

C3.ai Inc (NYSE:AI) shares are trading higher after the company reported better-than-expected financial results for its fiscal fourth quarter. The company reported revenue of $86 million, beating estimates, and an adjusted loss of 11 cents per share, also better than expected. C3.ai generated $18.8 million in free cash flow and ended the quarter with $750.4 million in cash and equivalents. The company expects first-quarter revenue to be between $84 and $89 million and full-year revenue between $370 and $395 million. Despite the positive results, Needham analyst Mike Cikos reiterated a Hold rating on the stock.

Portfolio Pulse from Adam Eckert

May 30, 2024 | 1:09 pm

DARP

MSFT

NVDA

SMH

Jim Cramer suggests that Nvidia (NVDA) could surpass Microsoft (MSFT) in market value due to its significant role in AI, cloud computing, and data centers. Nvidia's products are becoming essential for tech infrastructure, and it is seen as a key AI beneficiary. Nvidia's stock has gained over 186% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

May 30, 2024 | 1:07 pm

SYK

Analysts have provided mixed ratings for Stryker (NYSE:SYK) over the past three months, with a recent increase in price targets. The average 12-month price target is now $381.5, up 6.27% from the previous $359.00. Despite a recent revenue decline, Stryker maintains strong financial health with high net margins, ROE, and ROA, and a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 1:00 pm

LVO

LiveOne has announced its FY25 consolidated revenue guidance, expecting between $140 million and $155 million, with an estimate of $148.884 million.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:57 pm

CGC

Canopy Growth Corporation (NASDAQ: CGC) reported a 7% year-over-year increase in Q4 net revenue, driven by strong performance in its subsidiary Storz & Bickel and growth in the Canadian and international cannabis markets. The company also achieved significant cost reductions and improved gross margins. CEO David Klein highlighted progress in reducing expenses, cash burn, and debt, and expressed optimism about regulatory shifts in Germany and the U.S. Canopy's shares traded 0.24% higher in pre-market trading.

Portfolio Pulse from Jelena Martinovic

May 30, 2024 | 12:55 pm

GLD

SPY

The U.S. economic growth for Q1 2024 was revised down to 1.3%, with consumer spending faltering. Inflation metrics were also slightly revised down. Corporate profits contracted, and jobless claims rose. Market reactions included lower equity futures and falling Treasury yields, while gold prices increased.

Portfolio Pulse from Piero Cingari

May 30, 2024 | 12:45 pm

HRL

Hormel Foods Corp (NYSE:HRL) reported a 3% decline in Q2 fiscal 2024 sales to $2.887 billion, missing expectations. Retail and International segments saw declines, while Foodservice grew. Adjusted EPS was 38 cents, above consensus. The company updated its full-year earnings outlook and reaffirmed net sales growth. HRL shares are trading lower by 1.14% premarket.

Portfolio Pulse from Akanksha Bakshi

May 30, 2024 | 12:45 pm

VZ

Verizon Public Sector has been awarded a 10-year, $2.67 billion contract by the Department of the Navy to provide wireless devices and services. This contract, known as Spiral 4, aims to offer cost-effective and advanced wireless mobility solutions to military personnel and federal civilian agencies.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:44 pm