Streetbeat News

Stock Prices

VSCO

Morgan Stanley analyst Alexandra Steiger downgraded Victoria's Secret (VSCO) from Equal-Weight to Underweight and reduced the price target from $19 to $15.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:24 am

ESI

Element Solutions (NYSE:ESI) reported Q1 earnings on April 29, 2024, beating EPS estimates by 6.0% with an EPS of $0.34 versus the expected $0.32. Revenue increased by $600 thousand from the previous year. Despite the positive earnings, the stock price dropped by 1.28% the next day. Competitors Arcadium Lithium, H.B. Fuller, and Quaker Houghton also exceeded EPS expectations in their recent earnings, with Quaker Houghton's stock price increasing by 0.95% following their announcement.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 10:15 am

NWN

Northwest Natural has reaffirmed its long-term EPS growth rate target of 4% to 6% compounded annually from 2022 through 2027, indicating confidence in its financial strategy and growth prospects.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:04 am

NWN

Northwest Natural Holding (NWN) reported Q1 2024 earnings of $1.69 per share, missing the consensus estimate of $2.02 by 16.34%. Quarterly sales were $433.470 million, below the estimate of $466.749 million by 7.13%, marking a 6.26% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:02 am

SAVE

Spirit Airlines reported Q1 2024 adjusted EPS of $(1.46), missing estimates by 0.69%, and sales of $1.265B, missing estimates by 0.35%. This represents a 78.05% decrease in EPS and a 6.23% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:56 am

MLCO

Morgan Stanley analyst Praveen Choudhary upgraded Melco Resorts and Enter (NASDAQ:MLCO) from Equal-Weight to Overweight and increased the price target from $8.3 to $9.6.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:43 am

SIMO

Morgan Stanley analyst Ray Wu upgraded Silicon Motion Technology (SIMO) from Equal-Weight to Overweight and increased the price target from $59 to $88.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:32 am

DIS

HOOD

PLTR

QQQ

RDDT

SPY

Earnings reports and a dovish Federal Reserve stance lifted stocks last week, with Apple and Amazon leading the charge. FactSet reports 80% of S&P 500 companies have exceeded earnings expectations. This week, attention turns to Disney, Palantir, Robinhood, and Reddit's debut report. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust saw gains, reflecting positive market sentiment.

Portfolio Pulse from Shanthi Rexaline

May 06, 2024 | 9:25 am

AMKBY

A. P. Moller Maersk (OTC:AMKBY), the world's largest container shipping company, announced that disruptions in the Red Sea, caused by attacks from Iran-aligned Houthi militants, are expected to reduce the shipping industry's capacity between the Far East and Europe by 15%-20% in Q2. These disruptions have forced vessels to reroute, leading to longer journey times and increased freight rates. Maersk has leased over 125,000 additional containers to enhance reliability and address the capacity shortage, with disruptions likely to persist until the end of the year.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 9:18 am

BRK

TSLA

Elon Musk expressed astonishment at Berkshire Hathaway's cash reserves reaching $189 billion, equivalent to Musk's own wealth. Berkshire Hathaway, led by Warren Buffett, increased its cash pile to a record level after selling $20 billion in stocks and purchasing $2.7 billion worth during Q1 2024. Musk, comparing the cash reserve to his wealth of $192 billion, suggested Buffett should invest in Tesla, which has seen a 25% stock rally post-Q1 2024 earnings but is still down 27% for the year. Berkshire Hathaway also reduced its Apple Inc. holdings significantly during the same period.

Portfolio Pulse from Rounak Jain

May 06, 2024 | 9:04 am