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CTSH

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) reported Q4 results with adjusted earnings of $1.18 per share, surpassing estimates of $1.04. However, sales of $4.758 billion slightly missed expectations by $0.001 billion. The company forecasts Q1 revenue to decline by 2.7% to 1.2%, with full-year revenue expected between $19.0 and $19.8 billion. Adjusted EPS for 2024 is projected in the range of $4.50 to $4.68. Following the report, BMO Capital reduced its price target from $88 to $85, while RBC Capital increased its target from $74 to $77. CTSH shares dropped 0.2% to $78.60.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:17 pm

YUM

Yum! Brands Inc (NYSE:YUM) reported a 1% year-on-year sales growth for Q4 fiscal 2023, totaling $2.04 billion, which missed the analyst consensus estimate of $2.11 billion. Worldwide system sales excluding foreign currency translation grew by 5%, with KFC at 7%, Taco Bell at 6%, and Pizza Hut at 1%. Same-store sales increased by 1% overall, with KFC up 2%, Taco Bell up 3%, and Pizza Hut down 2%. The company's adjusted EPS was $1.26, below the consensus of $1.40. YUM opened 1,853 new units during the quarter and paid off a $325 million debt maturity. The operating margin expanded to 29.9%, and operating income climbed 5.4% to $609 million. The company anticipates the recent purchase of 218 KFC outlets in the U.K. and Ireland to have a negligible effect on its 2024 EPS. YUM shares are trading higher by 3.16% at $131.29.

Portfolio Pulse from Akanksha Bakshi

February 07, 2024 | 5:16 pm

RIVN

Deep-pocketed investors have shown a bearish sentiment towards Rivian Automotive (NASDAQ:RIVN), with options trading data revealing 62% bearish and 37% bullish positions. Significant options activities include both puts and calls, with a target price range from $10.0 to $22.5. The current stock price of RIVN is up 0.97% at $15.65, with analysts giving mixed ratings and target prices ranging from $17 to $25. The next earnings report is expected in 14 days.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:16 pm

RGNX

REGENXBIO's stock price increased following the announcement that its pivotal trial of RGX-121 for MPS II treatment met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:15 pm

HRB

H&R Block's stock price declined following the announcement of their Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:09 pm

AVNW

GLT

HOLO

SNAP

TCS

TGI

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Information technology shares rose by 1.1%, while energy shares fell by 0.1%. Crude oil inventories increased significantly. MicroCloud Hologram Inc. joined the Communications Industry Association, causing its shares to surge 450%. Glatfelter Corporation's shares surged 77% after announcing a merger with Berry Global's segment. Aviat Networks reported strong financial results, boosting its shares by 24%. Conversely, Triumph Group, The Container Store Group, and Snap Inc. saw their shares plummet due to disappointing financial results.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:08 pm

HHLA

Shares of HH&L Acquisition Co. have been halted pending news under the trading code. This action typically indicates significant upcoming announcements that could impact the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:05 pm

LUMN

Lumen Technologies' stock price increased following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:03 pm

CTLT

NVO

Novo Nordisk faces manufacturing challenges for its drugs Wegvoy and Ozempic due to high demand, leading to a deal to acquire three fill-finish sites from Novo Holdings for $11 billion. These sites, located in Italy, Belgium, and the US, specialize in sterile drug filling. The acquisition follows FDA scrutiny of Catalent's Bloomington plant, revealing quality control issues, including a pest on the manufacturing line and numerous unexplained discrepancies. Catalent's shares dropped by 0.56% to $58.16.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 5:02 pm

RBC

RBC Bearings (NYSE:RBC) is anticipated to release its quarterly earnings report on February 8, 2024, with analysts expecting an EPS of $1.96. The company's past performance shows a trend of beating EPS estimates, leading to positive stock price movements. Shares have increased by 17.74% over the last 52 weeks, indicating a bullish sentiment among long-term shareholders. Investors will be keenly watching for not only the earnings results but also the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:02 pm