Streetbeat News

Revenues

NVO

Novo Nordisk has indicated that demand for its obesity drug Wegovy will continue to outstrip supply, leading to potential difficulties for patients in filling prescriptions.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 6:06 pm

PNR

Seven analysts have recently updated their ratings on Pentair (NYSE:PNR), with an average 12-month price target of $80.57, reflecting a 3.83% increase from the previous target. The ratings range from 'Outperform' to 'Neutral', with price targets adjusted both upwards and downwards. Pentair, a global water treatment leader, reported a revenue decline of -4.39% for the quarter ending September 30, 2023, but maintains a strong net margin of 13.09%. The company's ROE and ROA are below industry averages, and it has a higher debt-to-equity ratio of 0.69.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 6:00 pm

SWKS

Skyworks Solutions (NASDAQ:SWKS) received mixed analyst ratings over the past three months, with an average 12-month price target of $112.78, down 8.2% from the previous $122.86. Analysts' actions include both upgrades and downgrades, reflecting changing market dynamics and company performance. Skyworks Solutions, a semiconductor producer for wireless connectivity, has seen a revenue decline of -13.37% and exhibits financial metrics below industry averages, including net margin and ROE.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 6:00 pm

TRIB

Trinity Biotech reported its Q3 2023 earnings with a loss per ADS of $(0.18), an improvement from $(0.24) YoY. However, revenue decreased to $14.677M from $15.704M YoY.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:52 pm

AMD

GOOGL

KRE

NYCB

TLT

Ahead of the FOMC meeting, the Nasdaq 100 and S&P 500 fell due to disappointing earnings from tech companies like Alphabet and AMD. The ADP National Employment Report showed slower job growth, and the VIX rose. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. The SPDR S&P Regional Banking ETF dropped after New York Community Bancorp reported a loss. Other stocks moved on earnings reports, with Boeing rallying on strong results.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 5:45 pm

NKE

UAA

Footwear and athletic apparel stocks are trading lower following Adidas's announcement that its preliminary reported sales decreased by 5% in 2023, indicating a potential industry-wide impact.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:44 pm

ADDYY

Adidas anticipates its currency-neutral sales to grow at a mid-single-digit rate by 2024, with expected sales of approximately €250 million.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:41 pm

ADDYY

Adidas has reported that the discontinuation of its Yeezy business line has negatively impacted its top-line development over the year, with a significant drag of approximately €500 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:37 pm

ADDYY

NKE

UAA

Adidas has reported preliminary financial results for FY23, indicating that currency-neutral revenues are expected to remain flat compared to the previous year. However, actual sales have decreased by 5%, amounting to €21.427 billion.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:35 pm

OMVKY

TTE

TotalEnergies SE (NYSE:TTE) has agreed to purchase a 50% stake in SapuraOMV Upstream Sdn from OMV AG (OTCPK: OMVKY) for $903 million, which includes the transfer of a $350 million loan. The assets are located offshore Sarawak in Malaysia, and the deal is expected to close by the end of the first half of 2024. This acquisition aligns with TotalEnergies' strategy to grow in Malaysia and strengthen its partnership with Petronas, while also contributing to the demand for gas in Asia. Additionally, TotalEnergies recently won a contract to supply 1.34 GW of renewable electricity to New Jersey.

Portfolio Pulse from Lekha Gupta

January 31, 2024 | 5:29 pm