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BMY

Bristol Myers Squibb & Co (NYSE:BMY) reported Q1 revenues of $11.9 billion, surpassing expectations with a 5% year-over-year increase, driven by Eliquis, Reblozyl, and Opdualag, despite losses from Opdivo and Revlimid. The company swung to a quarterly loss with an adjusted EPS of $(4.40), but beat the consensus loss estimate of $(4.44). A productivity initiative aims to save $1.5 billion by 2025, including cutting 2,200 jobs. Reblozyl sales slightly exceeded expectations, but the new product portfolio's overall performance was underwhelming. BMY revised its 2024 EPS guidance downwards, significantly impacting its stock price, which fell 8.12% to $44.90.

Portfolio Pulse from Vandana Singh

April 25, 2024 | 4:23 pm

NOC

Northrop Grumman Corp (NYSE:NOC) reported a 9% year-over-year sales growth to $10.133 billion in Q1 fiscal 2024, surpassing consensus estimates. EPS rose to $6.32 from $5.50, beating expectations. The company highlighted robust defense spending and a strong backlog as key drivers of its positive outlook, including expected free cash flow growth. Segment sales and operating income saw increases, with notable awards including $3.1 billion for restricted programs. Despite a cash outflow, NOC plans to return over $2 billion to investors through dividends and share repurchases in 2024. The company reaffirmed its fiscal 2024 guidance, expecting sales between $40.8 billion and $41.2 billion and adjusted EPS of $24.45-$24.85.

Portfolio Pulse from Akanksha Bakshi

April 25, 2024 | 4:22 pm

STRA

Strategic Education Inc (NASDAQ:STRA) shares surged after reporting a 13.1% year-on-year sales growth to $290.3 million in Q1 2024, surpassing analyst estimates. Expenses decreased by 3.6%, and the company saw significant improvements in operating margin, adjusted EBITDA, and EPS. A quarterly dividend of $0.60 per share was declared, with the stock price rising by 11.9% to $112.62.

Portfolio Pulse from Shivani Kumaresan

April 25, 2024 | 4:21 pm

AMZN

ONLN

XLY

Amazon's AWS plans to invest $11 billion in Indiana for a new data center campus, marking the state's largest capital investment. This move will create at least 1,000 jobs and support AI technologies. AWS leads the global cloud market with a 31% share. Amazon's stock has risen over 66% in the past year, and its growth in AI and cloud services is expected to continue. Investors can gain exposure to Amazon through ETFs like XLY and ONLN.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 4:17 pm

EYEN

Eyenovia's stock price increased following the announcement of clinical and scientific updates on its FDA-approved products, Mydcombi and Clobetasol Propionate Ophthalmic Suspension.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:16 pm

TT

Trane Technologies (NYSE:TT) has seen a 4.76% increase in its short percent of float since the last report, with 2.50 million shares sold short, representing 1.1% of available shares. It would take about 3.35 days to cover these short positions. While an increase in short interest can indicate bearish market sentiment, it's noted that Trane Technologies has less short interest than its peer group average of 3.93%. This suggests a mixed sentiment among investors regarding TT's stock.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 4:15 pm

ZI

ZoomInfo Technologies (NYSE:ZI) has seen a decrease in short interest, with the short percent of float falling 18.28% to 3.8% of all shares available for trading. This indicates a reduction in bearish sentiment among traders. The company's short interest is below its peer group average of 6.78%, suggesting a relatively more bullish outlook compared to its peers.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 4:15 pm

LUMN

Lumen Technologies (NYSE:LUMN) has seen a 16.76% increase in its short percent of float since the last report, with 143.98 million shares sold short, representing 19.65% of available shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a price drop. Lumen's short interest is significantly higher than its peer group average of 5.55%.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 4:15 pm

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares rose after reporting higher-than-expected Q1 sales and earnings, with several analysts upgrading their price targets and reiterating positive ratings. The company's standout performance, driven by strong same-store sales growth, impressive traffic trends, and operational efficiencies, led to increased optimism among analysts. Management also raised its 2024 same-store sales guidance, reflecting confidence in sustained growth.

Portfolio Pulse from Priya Nigam

April 25, 2024 | 4:13 pm

HOOD

'Dogecoin Killer' Shiba Inu (SHIB) sees a 2,092% burn rate spike and is now available for trading on Robinhood for New York residents. K9finance becomes the official LSD for Shibarium, aiming to boost its network's value and trading volume. Shibariumscan and IntoTheBlock data show significant growth in contracts and transaction volumes, indicating increased activity and interest in SHIB.

Portfolio Pulse from Khyathi Dalal

April 25, 2024 | 4:12 pm