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JPM

SPY

JPMorgan Chase & Co. strategists remain bearish on the S&P 500 despite its record highs, citing 'lackluster' earnings and elevated valuations as concerns. They predict a potential 13% decline in the S&P 500 to a year-end target of 4,200, warning of risks from consumer companies, high AI expectations, and the possibility of sustained high interest rates.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 11:25 am

GE

GE (General Electric) reported a 7% year-over-year increase in Q4 orders, totaling $21.7 billion. This indicates a positive trend in demand for GE's products and services.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:23 am

JNJ

Johnson & Johnson (NYSE:JNJ) exceeded Q4 earnings and sales estimates with an EPS of $2.29, surpassing the $2.28 forecast, and reported sales of $21.39B, beating the $20.99B estimate. This reflects an 11.71% increase in EPS from last year, despite a 9.75% decrease in sales from the same period.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:22 am

FOR

Forestar Group (NYSE:FOR) reported Q1 earnings of $0.76 per share, surpassing the consensus estimate of $0.50 by 52%. Year-over-year, earnings rose by 80.95% from $0.42 per share. Quarterly sales reached $305.90M, exceeding estimates by 12.31% and marking a 41.16% increase from the previous year's $216.70M.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:11 am

AAPL

Apple Inc. has implemented a 27% commission fee on sales from links clicked in iOS apps, drawing criticism from developers and Ark Invest analyst Andrew Kim. This move, following a partial victory against Epic Games in an antitrust lawsuit, is seen as potentially alienating developers and undermining the court's order, according to Epic Games CEO Tim Sweeney. Critics, including Ruby on Rails creator David Heinemeier Hansson, have labeled Apple as 'Enemy Number 1' for developers, comparing its tactics to past Microsoft practices.

Portfolio Pulse from Rounak Jain

January 23, 2024 | 11:10 am

MMYT

MakeMyTrip (NASDAQ:MMYT) reported Q3 adjusted EPS of $0.35, surpassing the $0.24 estimate, a 150% increase from $0.14 per share last year. Sales reached $217.89M, exceeding the $208.59M estimate, marking a 26.58% increase from $172.13M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:09 am

SYF

Synchrony Financial reported an increase in Q4 loan receivables by 11% YoY to $103B, with purchase volume up 3% and average active accounts up 5%. Deposits grew by 13% YoY to $81.2B. However, new accounts fell by 3%, net interest margin decreased by 48 basis points, and both return on assets and equity saw declines.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:09 am

PEBO

Peoples Bancorp (NASDAQ:PEBO) reported Q4 adjusted earnings of $1.04 per share, surpassing the consensus estimate of $0.96, and adjusted sales of $115.13M, also beating the estimate of $114.16M. These figures represent a 9.47% increase in earnings and a 27.17% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:07 am

BANF

FBK

MLI

WMPN

Insiders at FB Financial, Mueller Industries, BancFirst, and William Penn Bancorporation have recently made notable stock purchases. FB Financial's 10% owner bought shares at $35.50 each after a downgrade by Hovde Group. Mueller Industries' director acquired shares at $28.68 each following a downgrade by Northcoast Research. BancFirst's EVP purchased shares at $92.60 each after the company posted upbeat quarterly earnings. William Penn Bancorporation's director bought shares at $12.35 each, with Piper Sandler maintaining an Overweight rating and raising the price target.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 11:06 am

XOM

TD Cowen analyst Jason Gabelman upgraded Exxon Mobil (NYSE:XOM) from Market Perform to Outperform and set a price target of $115. This upgrade suggests a positive outlook on Exxon Mobil's stock performance.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:02 am