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LSCC

Lattice Semiconductor Corporation (NASDAQ:LSCC) reported Q1 earnings of 29 cents per share, surpassing the consensus estimate of 28 cents but marking a 43.14% decrease from the previous year. Q1 sales were $140.815 million, slightly above estimates but 23.6% lower year-over-year. The company issued a Q2 revenue forecast below analyst expectations. Following the earnings announcement, analysts from Needham, Susquehanna, and Benchmark raised their price targets on LSCC, which saw its shares rise 4%.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:57 pm

GOOG

GOOGL

IXP

XLC

Alphabet Inc (GOOG, GOOGL) announced layoffs across key teams like Flutter, Dart, Python ahead of its I/O developer conference, aiming to align resources with product priorities. Despite the cuts, Google is still focused on Flutter updates for the I/O conference. The tech sector has seen over 42,324 layoffs in 2024, continuing from nearly 263,000 in 2023, with major companies including Amazon (AMZN), Microsoft (MSFT), Salesforce (CRM), eBay (EBAY), and PayPal (PYPL) announcing significant layoffs. Google's shares gained 56% in the last 12 months, with exposure through IShares Global Comm Services ETF (IXP) and The Communication Services Select Sector SPDR Fund (XLC).

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 12:56 pm

ON Semiconductor Corp reported better-than-expected Q1 2024 results with a revenue decline of 5% year-on-year to $1.86 billion, surpassing the consensus of $1.85 billion. Adjusted EPS was $1.08, beating the consensus of $1.04. Revenue from different groups varied, with PSG growing 2%, AMG decreasing 6%, and ISG falling 18%. The company expects Q2 adjusted revenue to be below consensus, leading to a 4.1% rise in shares to close at $70.82. Analysts from Mizuho, Susquehanna, Rosenblatt, Keybanc, Benchmark, and B. Riley Securities adjusted their price targets following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:51 pm

MAMO

Massimo Group (NASDAQ:MAMO) has announced a distribution partnership with Fleet Farm to sell its UTV, ATV, and youth series product lines in stores and online. This partnership aims to leverage Fleet Farm's strong Midwest presence and Massimo's diverse range of powersports vehicles to meet the growing demand for UTVs and ATVs in the U.S. The agreement includes six Massimo products, highlighting the company's commitment to expanding its distribution network and capitalizing on the increasing outdoor activity trend.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:44 pm

DAL

IYC

JPM

On CNBC's 'Halftime Report Final Trades,' experts highlighted iShares US Consumer Discretionary ETF (IYC), Delta Air Lines (DAL), and JPMorgan Chase & Co. (JPM) based on recent financial performances and market trends. IYC was chosen due to increasing consumer spending in services, travel, and e-commerce. DAL was recommended as its fundamentals are strong, evidenced by better-than-expected Q1 2024 earnings with an 8% YoY revenue growth. JPM was selected following its Q1 earnings beat with net revenue up 8% YoY. Delta's shares rose 1.1%, IYC gained 1.3%, while JPMorgan shares slightly fell by 0.1%.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:44 pm

CHGG

DPZ

EMN

LSCC

LUV

MSCI

Wall Street analysts have made significant adjustments to their price targets and ratings for several US-listed companies, impacting their stock performance. Notable changes include downgrades for Chegg and XP Inc., while Domino's Pizza and Lattice Semiconductor received positive revisions. Other companies like ON Semiconductor, Eastman Chemical, Goldman Sachs, Sensata Technologies, Southwest Airlines, and MSCI also saw adjustments in their price targets and ratings.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:43 pm

APWC

Asia Pacific Wire & Cable (APWC) reported its FY earnings with an EPS of $0.19, unchanged from last year, and a slight decrease in sales to $425.80M from $433.90M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:41 pm

NRXP

NRx Pharmaceuticals announced that both NRX-101 and lurasidone, a standard treatment for Bipolar Depression, showed a roughly 50% reduction in depression symptoms. This positions NRX-101 as a potentially significant treatment option alongside established medications.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:38 pm

GROM

Grom Social Enterprises, Inc. (NASDAQ:GROM) is advancing towards the acquisition of Arctic7, a Texas-based gaming industry service provider. The companies are now in the definitive documents draft phase of the deal, initially announced in March. This acquisition aims to integrate Arctic7's gaming development services with Grom's family-friendly media and technology solutions, potentially tapping into the $180B gaming industry. Arctic7 is expected to operate as a division within Grom post-acquisition, focusing on delivering engaging gaming experiences.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:38 pm

CIVB

Civista Bancshares (NASDAQ:CIVB) reported Q1 2024 earnings of $0.41 per share, missing the $0.46 estimate, and sales of $36.876M, below the $38.328M estimate. This represents a 50% decrease in earnings and a 15.56% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:35 pm