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LPX

Louisiana-Pacific Corp (NYSE:LPX) reported Q1 2024 results surpassing Wall Street expectations with a 24% YoY net sales increase to $724 million, driven by strong demand in the Siding sector and Oriented Strand Board (OSB) sales. Adjusted EPS rose to $1.53 from $0.34 YoY, and adjusted EBITDA increased to $182 million. The company raised its 2024 outlook, expecting higher Siding net sales growth and consolidated Adjusted EBITDA. LPX shares surged 8.39% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

May 08, 2024 | 1:26 pm

AAPL

Apple Inc. (NASDAQ:AAPL) announced the launch of new iPad models with advanced chips and displays on May 7, 2024, expected to drive significant revenue growth. The iPad Pro now features the M4 chip and OLED displays, while the iPad Air is updated with the M2 chip. Goldman Sachs forecasts double-digit year-over-year growth in iPad revenue for F3Q24E, supported by clean channel inventory and strong demand, especially in Greater China. The new iPads, along with updated accessories like the Magic Keyboard and Apple Pencil Pro, are set to enhance Apple's product mix and pricing strategy. Goldman Sachs maintains a Buy rating on AAPL with a 12-month target price of $226.

Portfolio Pulse from Piero Cingari

May 08, 2024 | 1:21 pm

GMED

Stifel analyst Mathew Blackman has maintained a Buy rating on Globus Medical (NYSE:GMED) and increased the price target from $64 to $70, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:21 pm

SGHC

Super Group (SGHC) reported Q1 earnings of $0.03 per share, meeting analyst estimates and marking a significant improvement from last year's loss of $(0.52) per share. Quarterly sales reached $411.89 million, exceeding expectations by 2.76% and showing a 13.37% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:20 pm

PWSC

PowerSchool Holdings' stock is trading higher after reports emerged that Bain is considering a takeover of the company.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:19 pm

LAZR

Luminar Technologies' stock (LAZR) is trading higher after the company reported its Q1 earnings, indicating a positive market response to the financial results.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:17 pm

ACB

Aurora Cannabis Inc (NASDAQ:ACB) experienced a Golden Cross, indicating a potential uptrend in its stock price ahead of its Q1 earnings report on May 20. Despite a significant drop in shares over the past years, the stock has risen 2.46% over the past year and 39.86% year-to-date. The company has focused on the medical cannabis market, especially in Germany and Australia, aiming for higher margins. However, analysts from BTIG express caution, citing challenges in Canadian and U.S. cannabis regulation changes and banking bill progress. The Golden Cross suggests a moderately bullish trend, but investors are advised to remain vigilant.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 1:17 pm

MCK

McKesson Corporation (NYSE:MCK) reported Q4 earnings below market expectations, with adjusted earnings of $6.18 per share against forecasts of $6.34, and sales of $76.40 billion compared to expected $79.32 billion. Despite this, the company's FY25 earnings outlook exceeds estimates, leading to a 2.3% rise in its shares. Analysts from Baird and UBS subsequently raised their price targets on McKesson.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 1:15 pm

BIG

Big Lots (NYSE:BIG) has seen a significant decrease in short interest, down 41.49% to 7.15 million shares, representing 25.12% of its float. This decline suggests a shift in market sentiment, potentially indicating a more bullish outlook among investors. Despite this, it's not a direct indicator of an imminent price increase. Big Lots has a higher short interest compared to its peers, with an average of 10.92% in its peer group.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:15 pm

MGM

MGM Resorts Intl's (NYSE:MGM) short interest has decreased by 6.17% since the last report, with 12.46 million shares sold short, representing 5.17% of its float. It would take about 4.28 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards MGM among investors. MGM's short interest is higher than its peer group average of 4.58%, suggesting it has more short interest compared to its peers.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:15 pm