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AXTI

NET

SPT

In Friday's pre-market session, several Information Technology stocks showed significant movement. AXT, AEye, OneSpan, Clearfield, Upland Software, and OMNIQ were among the gainers, with AXT leading by a 25.7% increase following their Q1 earnings report. Conversely, Sprout Social, Marin Software, Radcom, Cloudflare, BigBear.ai Holdings, and Sobr Safe were the losers, with Sprout Social dropping 29% after their Q1 earnings announcement.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 12:06 pm

HSY

Hershey Company (NYSE:HSY) shares are trading higher after reporting better-than-expected first-quarter FY24 earnings, with significant growth in sales, gross margin, and operating income. The company also declared quarterly dividends and reaffirmed its FY24 outlook.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 12:04 pm

AXL

American Axle & Mfg Hldgs (AXL) reported Q1 earnings of $0.18 per share, surpassing the $0.02 estimate, marking a 1900% increase from last year's losses. Sales reached $1.61B, exceeding the $1.53B forecast and showing a 7.70% year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:04 pm

BENF

Beneficient has successfully regained compliance with the NASDAQ's minimum bid price rule, ensuring its continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:04 pm

CMLS

Cumulus Media (CMLS) reported Q1 2024 GAAP EPS of $(0.85), surpassing the $(1.32) estimate, but its sales of $200.053M fell short of the $200.300M forecast, marking a 2.74% year-over-year decline.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:03 pm

UTZ

Analyst ratings for Utz Brands (NYSE:UTZ) have shown diverse opinions over the last three months, with recent updates indicating a positive shift in sentiment. The average 12-month price target for UTZ has increased to $20.44, up 10.49% from the previous target. Analysts from firms like Needham, Mizuho, B of A Securities, DA Davidson, Truist Securities, and Piper Sandler have adjusted their ratings and price targets, reflecting optimism about the company's future performance. Despite this, Utz Brands faces financial challenges, including a below-average market capitalization, a negative revenue trend, and lower than average net margin, ROE, and ROA, indicating potential operational and profitability issues.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 12:01 pm

WOW

WideOpenWest, Inc. (WOW) has received an unsolicited non-binding preliminary proposal from DigitalBridge Investments, LLC and Crestview entities for purchasing all outstanding shares of WOW that Crestview does not own at $4.80 per share in cash. The WOW Board of Directors plans to form a special committee to evaluate this proposal. Currently, WOW stockholders are advised not to take any action.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:01 pm

CGNX

Over the last three months, Cognex (NASDAQ:CGNX) has been evaluated by 5 analysts, showing a mix of bullish and indifferent sentiments. The average 12-month price target for CGNX has been raised to $47.2, reflecting an 11.72% increase from the previous target of $42.25. Analysts from firms including Needham, Baird, Citigroup, UBS, and Truist Securities have adjusted their ratings and price targets, indicating a positive outlook on the stock. Despite facing revenue challenges with a -17.86% decline over 3 months, Cognex's financial strength is evident in its net margin, ROE, ROA, and low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 12:00 pm

ARKB

FBTC

GBTC

IBIT

Spot Bitcoin ETFs experienced a net outflow of $34.36 million on Thursday, with Grayscale's GBTC seeing a $55 million outflow, while ARK 21Shares Bitcoin ETF (ARKB) saw inflows of $13 million. BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Bitcoin ETF (FBTC) recorded no new outflows. This trend reflects investor caution and a search for diversification within the digital asset landscape.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 11:59 am

KOP

Koppers Holdings (KOP) reported Q1 2024 adjusted EPS of $0.62, missing the $0.67 estimate, and sales of $497.6M, below the $501.667M forecast. This represents a 48.33% decrease in earnings and a 3.08% drop in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:58 am