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PRGO

Perrigo Company plc (NYSE:PRGO) reported mixed Q4 earnings with a slight miss on net sales at $1.16 billion versus the consensus of $1.18 billion but beat EPS estimates with $0.86, up 14.7% Y/Y. The company announced Project Energize, a cost-saving plan expected to yield $140-$170 million in annual pre-tax savings by 2026, despite projecting a net reduction of 6% of its workforce. Perrigo forecasts FY 2024 organic net sales growth of 1.0%-3.0% and adjusted EPS of $2.50-$2.65, below the consensus of $3.00. PRGO shares dropped 15.3% to $27.25.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 7:46 pm

TMDX

TransMedics Group Inc (NASDAQ:TMDX) reported a Q4 profit with revenue of $81.2 million, up 159% Y/Y, surpassing the consensus of $68.51 million. The growth was attributed to increased use of its Organ Care System (OCS) and new logistics services. EPS was $0.12, beating the expected loss of $(0.03). The company expects FY 2024 revenues of $360-$370 million, above the consensus of $330.23 million. Oppenheimer raised TMDX's price target from $92 to $105 with an Outperform rating, and William Blair maintains an Outperform rating, highlighting the company's strong Q4 results and promising outlook.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 7:33 pm

HIMS

JANX

NERV

NRXP

SJM

TWKS

VKTX

U.S. stocks showed mixed performance with the Dow Jones falling by 0.35% and the NASDAQ rising by 0.28%. J.M. Smucker reported better-than-expected earnings, while Janux Therapeutics, Hims & Hers Health, and Viking Therapeutics saw significant stock price increases. Conversely, Minerva Neurosciences, Thoughtworks Holding, and NRx Pharmaceuticals experienced notable declines. Oil and gold prices saw slight increases.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 7:32 pm

KLAC

Over the past 15 years, KLA (NASDAQ:KLAC) has significantly outperformed the market, with an average annual return of 27.97%, turning a $100 investment into $4,220.73. The company's market capitalization currently stands at $91.79 billion.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:30 pm

COF

Over the past 15 years, Capital One Financial (NYSE:COF) has delivered an average annual return of 18.69%, outperforming the market by 4.78% annually. A $1000 investment in COF 15 years ago would be worth $13,389.22 today. The company currently has a market capitalization of $51.32 billion, highlighting the significant impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:30 pm

CMCSA

PARA

WBD

Warner Bros. Discovery Inc (NASDAQ:WBD) has ended talks about acquiring Paramount Global (NASDAQ:PARA), causing both stocks to rise. Despite this, Paramount is still exploring sale options, with Skydance Media conducting due diligence and Byron Allen offering $14 billion. Comcast Corp (NASDAQ:CMCSA) is focusing on potential collaborations rather than acquisition. Both WBD and PARA face challenges, with WBD's shares dropping 10% after disappointing earnings and PARA trading near a 52-week low. WBD has lost 25.3% YTD, and PARA 22%.

Portfolio Pulse from Anusuya Lahiri

February 27, 2024 | 7:19 pm

DIA

IWM

JANX

QQQ

SPY

VKTX

XLU

On Tuesday, the S&P 500 and Nasdaq 100 saw declines, while small caps and certain biotech stocks experienced significant gains. The iShares Russell 2000 ETF (IWM) rose over 1%, marking its fourth consecutive session of gains. Durable goods orders fell more than expected, and oil prices reached their highest close since mid-November 2023. Bitcoin surged over 4%, reaching its highest level since December 2021. Major ETFs like SPY, DIA, and QQQ saw slight declines, while XLU outperformed. Biotech stocks Viking Therapeutics and Janux Therapeutics saw dramatic increases following positive trial results. Other notable stock movements included gains for Norwegian Cruise Line and Lowe's, and declines for Clarivate and American Tower.

Portfolio Pulse from Piero Cingari

February 27, 2024 | 7:18 pm

SNAP

Snap Inc. (NYSE:SNAP) has seen a decrease in short interest, with 86.77 million shares sold short, representing 9.62% of its float. This marks a 9.33% decline in short interest since the last report. The current short interest suggests a more bullish sentiment among investors compared to its peer group average of 6.90% short interest. However, this does not guarantee a near-term price increase.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:15 pm

COHR

Coherent's (NYSE:COHR) short interest has increased by 40.07% since the last report, with 4.57 million shares sold short, representing 4.02% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 3.66%. The article suggests that an increase in short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:15 pm

ALK

Alaska Air Group's (NYSE:ALK) short interest has increased by 7.01% since the last report, with 3.22 million shares sold short, representing 2.9% of available shares. The current short interest suggests a bearish market sentiment towards ALK, although it has less short interest compared to its peers' average of 9.17%. The article suggests that an increase in short interest does not necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:15 pm