Streetbeat News

Stock Prices

ISRG

Intuitive Surgical Inc (NASDAQ:ISRG) reported Q1 earnings with revenue of $1.89 billion and adjusted EPS of $1.50, both surpassing analyst estimates. The company saw a 14% increase in its da Vinci surgical system installed base, with 313 systems placed this quarter. Worldwide da Vinci procedures grew by approximately 16% year-over-year. The company ended the quarter with $7.32 billion in cash, equivalents, and investments.

Portfolio Pulse from Adam Eckert

April 18, 2024 | 8:44 pm

WAL

Western Alliance (NYSE:WAL) reported Q1 adjusted EPS of $1.72, surpassing the $1.66 estimate, marking a 3.61% beat. However, this represents a 25.22% decrease from last year's $2.30 EPS. Quarterly sales reached $728.80M, exceeding the $697.04M forecast by 4.56% and showing a 32.05% increase from the previous year's $551.90M.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:42 pm

GBCI

HTLF

Glacier Bancorp, Inc. (GBCI) has received regulatory approval to acquire six Montana branches from HTLF Bank, a subsidiary of Heartland Financial USA, Inc. (HTLF). The transaction, expected to close in July 2024, involves branches with $463 million in deposits and $296 million in loans. It is projected to be $0.03 per share accretive to GBCI's 2024 EPS and $0.07 per share accretive to 2025 EPS, excluding one-time expenses. This acquisition aims to strengthen Glacier's presence in Montana.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:41 pm

PPG

PPG Industries, Inc. (NYSE:PPG) reported mixed Q1 results with earnings per share of $1.86, meeting analyst estimates, but missing sales forecasts with $4.31 billion versus the expected $4.43 billion. The company announced a $2.5 billion stock repurchase program and declared a quarterly dividend of 65 cents per share. CEO Tim Knavish highlighted year-over-year adjusted EPS growth for the fifth consecutive quarter and organic sales growth in key markets. PPG anticipates low single-digit organic sales growth and adjusted earnings of $2.42 to $2.52 per share for Q2, slightly below the $2.55 estimate.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 8:38 pm

PIRS

Pieris Pharmaceuticals has announced a 1-for-80 reverse stock split, a move typically aimed at increasing the market price of a company's shares. This action can be indicative of efforts to meet stock exchange listing requirements or to attract a broader range of investors by moving the stock price into a more 'respectable' range. Reverse splits can have mixed impacts on investor perception, potentially leading to concerns about the company's long-term viability while also making the stock more appealing to institutional investors.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:37 pm

NFLX

Netflix shares are trading lower following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:33 pm

NSC

Norfolk Southern has issued a letter to its shareholders ahead of its Annual Meeting on May 9, 2024, advocating for the election of its 13 nominees using the white proxy card. The company emphasizes its goal to achieve a sub-60% operating ratio within three to four years, aiming to close the margin gap with its industry peers.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:32 pm

TMO

Thermo Fisher Scientific (NYSE:TMO) has seen a balanced mix of bullish and bearish options trading, with significant activity suggesting a price target range of $530 to $560. The stock is currently trading at $541.52, down by -1.05%, and may be considered oversold based on RSI readings. Analysts have set an average price target of $636.67, with ratings from HSBC, Evercore ISI Group, and Goldman Sachs indicating a positive outlook. The anticipated earnings release in 6 days could influence future stock performance.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 8:32 pm

EW

Recent options trading activity for Edwards Lifesciences (NYSE:EW) shows a predominantly bearish sentiment among investors, with 87% of detected trades being bearish. The trading volume highlights a targeted price range of $80.0 to $95.0 for EW over the last 3 months. Current trading volume and analyst ratings suggest mixed views on the stock's future, with a current price of $86.45 and an average analyst price target of $99.8. The company is a leader in medical devices for structural heart disease, with significant sales outside the US.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 8:32 pm

MCB

Metropolitan Bank's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:32 pm