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GRMN

SNSR

UFO

Garmin Ltd (NYSE:GRMN) reported a 20% year-on-year revenue growth for Q1 2024, reaching $1.38 billion and surpassing the consensus of $1.25 billion. The company's proforma EPS of $1.42 also beat the consensus of $1.01. Revenue growth was seen across all segments, with Fitness growing by 40% and contributions from the acquisition of JL Audio boosting Marine revenue by 17%. Garmin's gross and operating margins improved, and it generated $402.14 million in free cash flow. The company intends to recommend a $3.00 per share dividend and reiterated its FY24 revenue outlook of $5.75 billion and proforma EPS of $5.40. Garmin stock has gained 47% in the last 12 months and saw an 8.82% increase to $157.21 recently. Investors can also gain exposure to Garmin through the Global X Internet Of Things ETF (NASDAQ:SNSR) and Procure Space ETF (NASDAQ:UFO).

Portfolio Pulse from Anusuya Lahiri

May 01, 2024 | 1:47 pm

DuPont De Nemours, Inc. (DD) reported a mixed first-quarter fiscal 2024 with a 3% year-over-year sales decline to $2.931 billion, surpassing consensus estimates. Organic sales dropped by 6%, with varying declines across regions. The company saw a notable recovery in the electronics market, with significant volume growth in Semiconductor Technologies and Interconnect Solutions. Despite a decrease in Water & Protection sales and a contraction in operating EBITDA margins, DuPont beat adjusted EPS expectations and reported a substantial increase in adjusted free cash flow. The company anticipates sequential sales and earnings improvement in Q2 2024, driven by favorable seasonality and continued recovery in electronics. DuPont has raised its 2024 outlook for adjusted EPS and revenue, reflecting optimism about its future performance. Shares surged 7.77% to $78.13 following the announcement.

Portfolio Pulse from Akanksha Bakshi

May 01, 2024 | 1:43 pm

ARUSD

BTCUSD

ETHUSD

OPUSD

Bitcoin and Ethereum experienced declines, with Bitcoin falling below the $58,000 mark and Ethereum trading below $2,900. The global crypto market cap dropped by 4.9% to $2.14 trillion. Optimism was the top gainer, while Arweave was the biggest loser among the cryptocurrencies mentioned. The U.S. private sector job growth exceeded expectations in April, but the crypto market still faced a downturn.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 1:42 pm

ACB

AKAN

CGC

CRON

GRWG

The Wall Street Journal reports that despite the declassification of cannabis, pot stocks such as ACB, AKAN, CGC, CRON, GRWG, HUGE, IGC, IMCC, LFLY, SNDL, and TLRY remain in a state of uncertainty. The article suggests that regulatory, legal, and market dynamics still pose significant challenges for these companies, impacting their stock performance and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:41 pm

PGSS

SHMD

SCHMID Group has completed a business combination with Pegasus Digital Mobility Acquisition Corp., resulting in SCHMID Group N.V. starting to trade on the Nasdaq under the ticker 'SHMD' from April 30, 2024. The combination includes a non-redemption and investment agreement for approximately $26 million in committed capital. SCHMID, a global provider for high-tech industries, is supported by a diverse board of directors and is based in Germany.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:40 pm

PINS

Pinterest Inc (NYSE:PINS) shares surged after reporting strong Q1 earnings and upbeat guidance. Revenue hit $740 million, surpassing estimates of $699.872 million, with a smaller-than-expected EPS loss of 4 cents. Year-over-year, revenues grew nearly 23%, and global monthly active users reached a record 518 million. CEO Bill Ready highlighted significant growth and advancements in AI and shoppability. Q2 revenue is expected to be between $835 million to $850 million, exceeding forecasts. Rosenblatt analyst Barton Crockett upgraded the price target from $45 to $48.

Portfolio Pulse from Adam Eckert

May 01, 2024 | 1:32 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) reported a Q1 revenue of $143.3 billion, a 13% increase year-over-year, surpassing estimates with earnings per share at 98 cents. The growth was driven by AWS and its international business, with AWS revenue growing 17%. JPMorgan analyst Doug Anmuth maintains an Overweight rating on Amazon, raising the price target from $225 to $240, based on future free cash flow estimates. Anmuth highlights Amazon's potential for profit growth, driven by AWS and GenAI services, and anticipates a multi-billion-dollar revenue run-rate from GenAI services. Despite a 3.29% drop in stock price on Tuesday, Amazon's stock was up 3.8% in premarket trading following the earnings beat.

Portfolio Pulse from Surbhi Jain

May 01, 2024 | 1:27 pm

AAPL

AMD

AMZN

CORN

DJT

NVDA

SBUX

SMCI

TLRY

TSLA

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:23 pm

ADN

Advent Technologies Holdings has announced a 1-for-30 reverse stock split, a move typically aimed at increasing the market price of a company's shares. This decision could affect the stock's liquidity and market perception.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:21 pm

CETX

Cemtrex Inc (NASDAQ:CETX) stock plummeted 75% to $0.29 after announcing a public offering expected to raise $10 million, up from $9 million. The offering includes common and pre-funded units, with Aegis Capital Corp. having an option to purchase additional shares/warrants. Funds are intended for operational purposes, marketing, business investments, debt repayment, and potentially acquiring complementary businesses or technologies. The offering's closing is scheduled for May 3.

Portfolio Pulse from Henry Khederian

May 01, 2024 | 1:20 pm