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BKU

BankUnited (NYSE:BKU) reported Q1 earnings of $0.64 per share, surpassing the $0.59 estimate, and sales of $241.73M, exceeding the $239.96M estimate. This represents a slight decrease in both earnings and sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:48 am

IYT

JBHT

QQQN

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) shares fell after reporting Q1 2024 results with a 9% Y/Y decrease in operating revenue to $2.94 billion, missing the $3.12 billion consensus. Operating income dropped 30% Y/Y to $194.4 million, and EPS of $1.22 missed the $1.52 consensus. The company also repurchased $25 million in shares, with $366 million remaining under its authorization. Exposure to JBHT can be gained through IShares Trust IShares U.S. Transportation ETF (BATS:IYT) and VictoryShares Nasdaq Next 50 ETF (NASDAQ:QQQN).

Portfolio Pulse from Lekha Gupta

April 17, 2024 | 10:44 am

CPRI

TPR

Capri Holdings shares are trading lower after reports emerged that the FTC is preparing to sue to block Tapestry's acquisition of the company. This legal challenge could potentially derail the takeover, affecting Capri Holdings' stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:41 am

GLD

SPY

On April 16th, U.S. markets ended mixed with the S&P 500 and Nasdaq Composite falling, while the Dow Jones gained. This was amid volatile trading due to rising Treasury yields and concerns over high interest rates. Federal Reserve Chair Jerome Powell hinted at maintaining higher interest rates longer than expected due to inflation. Asian markets, excluding China, saw declines, while European markets and the STOXX 50 index experienced gains. Commodities showed mixed results with gold surpassing $2,400.

Portfolio Pulse from Akanksha Bakshi

April 17, 2024 | 10:39 am

FHN

First Horizon (NYSE:FHN) reported Q1 earnings of $0.35 per share, surpassing the consensus estimate of $0.34, and sales of $819.00M, beating estimates of $809.19M. However, this represents a 22.22% decrease in earnings and a 4.66% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:33 am

CFG

Citizens Financial Group (CFG) reported Q1 adjusted earnings of $0.79 per share, surpassing the consensus estimate of $0.74 by 6.76%. However, earnings decreased by 28.18% from $1.10 per share a year ago. Q1 sales were $1.959 billion, slightly missing the estimate of $1.96 billion by 0.05% and representing a 7.94% decrease from $2.13 billion in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:24 am

STLA

Stellantis N.V. (NYSE:STLA) CEO Carlos Tavares warned of a challenging year ahead due to rising prices, raw material costs, and labor disputes. Despite these challenges, shareholders approved the 2023 remuneration report for senior managers with 70% approval. Tavares' compensation faced scrutiny amid cost-cutting and workforce reduction efforts, including voluntary redundancy for 3,000 Italian workers and layoffs in France and the U.S. The company rewarded employees with €1.9 billion for 2023 performance. STLA shares rose 0.35% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 17, 2024 | 10:19 am

VFS

VinFast Auto reported Q1 earnings with a loss of $(0.26) per share, missing the consensus estimate of $(0.22). Sales reached $302.65M, marking a 269.7% increase YoY, primarily from EV sales.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:18 am

DYNT

INVO

MGAM

YYAO

INVO Bioscience shares surged 73% in pre-market trading after reporting a 397% increase in quarterly revenue. Other stocks also showed significant movement in pre-market trading, with notable gainers including Mobile Global Esports, Chromocell Therapeutics, and Clene Inc., and losers like Connexa Sports Technologies and Dynatronics Corporation.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 10:13 am

ESPO

NERD

TTWO

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced a workforce reduction of 5% as part of a cost reduction program, aiming to enhance its margin profile while still investing for growth. The company expects to incur $160 million to $200 million in total charges related to this plan, which includes costs for title cancellations, employee severance, and office space reductions. The plan is expected to be complete by December 31. Grand Theft Auto VI, anticipated for release in 2025, is expected to be one of the highest-grossing media products. TTWO stock has gained over 16% in the past year and is trading higher by 0.39% to $146.00 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

April 17, 2024 | 10:10 am