Streetbeat News

Revenues

DIT

AMCON's Q1 2024 earnings per share (EPS) were $1.78, a decrease from $4.46 year-over-year (YoY). However, their revenue increased to $644.959 million from $565.989 million, surpassing estimates.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:17 pm

IKNA

Ikena Oncology, Inc. (NASDAQ:IKNA) announced a strategic shift towards advancing its lead oncology assets, IK-930 and IK-595, with a workforce reduction of about 35%. The company ended 2023 with approximately $175 million in cash, extending its financial runway into the second half of 2026. IK-930's optimized formulation is now in the clinic, with additional data expected in 2H 2024. The first cohort for IK-595 has been treated and cleared the safety evaluation. The reallocation of resources from discovery to clinical development is aimed at maximizing impact and driving advancements in cancer treatments.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:14 pm

MCB

Metropolitan Bank Holding Corp. reported Q4 2023 earnings of $1.28 per share, missing the consensus estimate of $1.49 by 14.09%. However, their quarterly sales of $63.55M exceeded the estimate of $61.68M by 3.03%, despite being a 9.53% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:13 pm

EA

NTDOY

SONY

WBD

Warner Bros. Discovery Inc's (NASDAQ:WBD) Hogwarts Legacy became the best-selling video game in the U.S. in 2023, surpassing titles from Activision and Rockstar. It led in dollar sales on PlayStation, was second on Xbox, and fifth on Nintendo platforms. Other top sellers included Electronic Arts Inc's (NASDAQ:EA) Madden NFL 24, Sony Group Corp.'s (NYSE:SONY) Marvel’s Spider-Man 2, and Nintendo ADR’s (OTC:NTDOY) The Legend of Zelda. U.S. video game spending reached $57.2 billion in 2023, a 1% increase from the previous year.

Portfolio Pulse from Franca Quarneti

January 18, 2024 | 9:09 pm

CMBM

Cambium Networks projects its FY24 revenue to be between $215M-$245M, which brackets the current analyst estimate of $230.18M.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:07 pm

CMBM

Cambium Networks reported preliminary Q4 2023 revenue of $40M, which falls short of the estimated $47.22M. This indicates a potential revenue miss for the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:05 pm

PMVP

PMV Pharmaceuticals announced a workforce reduction of approximately 30% as part of a strategic prioritization of its PC14586 development and focused discovery research efforts. The company also reported unaudited cash, cash equivalents, and marketable securities of approximately $229 million as of December 31, 2023. The cost savings from the workforce reduction are expected to extend the company's cash runway to the end of 2026.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:03 pm

ALK

BA

Boeing Company (NYSE:BA) faces increased scrutiny after U.S. Secretary of State Antony Blinken had to switch from a modified Boeing 737 due to an oxygen leak. This follows a January 5 incident involving an Alaska Air Group Inc (NYSE:ALK) flight where a Boeing 737 had a door plug blow out. The series of setbacks has led to a significant decline in net trust for Boeing, with a recent survey showing a 12 percentage point drop since December. Boeing's stock is currently trading at $211.92, down 19% year-to-date in 2024.

Portfolio Pulse from Chris Katje

January 18, 2024 | 8:53 pm

FHI

Four financial analysts have provided their ratings on Federated Hermes (NYSE:FHI), with a mix of indifferent and somewhat bullish views. The average 12-month price target is $37.0, with a high of $44.00 and a low of $32.00, marking a 5.13% decrease in the average target. Analysts from JP Morgan and UBS have raised their price targets, while TD Cowen has set a target of $32.00. Federated Hermes has a diverse asset management portfolio and has shown a revenue growth of 5.64% as of September 30, 2023. However, it faces challenges with a net margin below industry standards and a lower growth rate compared to peers. The company's strong ROE and ROA, along with a conservative debt-to-equity ratio, indicate financial health.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 8:00 pm

AFRM

FIS

HOOD

MA

PYPL

SQ

V

Mizuho analyst Dan Dolev has highlighted Affirm Holdings (AFRM), Fidelity National Information Services (FIS), Robinhood Markets (HOOD), and Block (SQ) as top FinTech stocks for 2024, promising growth for average Americans. Dolev emphasizes AFRM's expansion beyond 'Buy Now Pay Later' into a broader payment network, competing with Visa (V), Mastercard (MA), and PayPal (PYPL). He projects higher than consensus FY24 revenues for AFRM, FIS, and HOOD, and a 16%+ gross profit growth for Block. AFRM shares recently dropped by 2.27%.

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 7:44 pm