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CCTG

RDZN

TEAM

In Friday's pre-market session, several Information Technology stocks showed significant movement. CCSC Technology led the gainers with a 34.1% increase, while Roadzen experienced the largest drop among the losers, falling 23.8%. Notably, Atlassian's stock fell 7.81% following the release of their Q2 earnings.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 1:05 pm

GRC

Gorman-Rupp (NYSE:GRC) reported Q4 earnings with a 41.67% beat on EPS estimates, posting $0.34 versus the expected $0.24. Revenue increased by $14.56 million from the same period last year. The company has a history of beating EPS estimates, which in the past has led to a share price increase the following day.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 1:05 pm

GWW

W.W. Grainger (NYSE:GWW) reported Q4 adjusted EPS of $8.33, surpassing the $8.05 estimate, marking a 16.67% year-over-year increase. However, its $4.00B sales fell short of the $4.04B estimate, though it represents a 5.13% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:03 pm

PIPR

Piper Sandler (NYSE:PIPR) reported Q4 adjusted EPS of $4.03, surpassing the $2.60 estimate, a 55% beat. Sales reached $471.85M, exceeding the $370.12M estimate by 27.49%. Both earnings and sales saw over 20% increase from the previous year.

Portfolio Pulse from saritha@benzinga.com

February 02, 2024 | 1:01 pm

CLFD

Clearfield (NASDAQ:CLFD) has received mixed analyst ratings over the past three months, with a recent negative shift in sentiment as evidenced by a decrease in the average price target by 8.78% to $40.75. The company faces challenges in revenue growth, with a significant decline of -47.72% as of September 30, 2023, but shows strong profitability with a net margin of 5.43%. Its debt management is solid, with a low debt-to-equity ratio of 0.07, although it has a below-average ROE of 0.86%.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 1:00 pm

AMZN

Barclays analyst Ross Sandler has maintained an Overweight rating on Amazon.com (NASDAQ:AMZN) and increased the price target from $190 to $220. This adjustment reflects a positive outlook on Amazon's future stock performance.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:43 pm

ABBV

AbbVie has reaffirmed its expectation for a high single-digit compound annual revenue growth rate (CAGR) through 2029, indicating confidence in its long-term financial performance.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:40 pm

MCHP

Microchip Technology Inc (NASDAQ:MCHP) shares dropped in premarket trading after reporting Q3 FY24 results with lower-than-expected net sales and a decline in margins. Despite beating EPS estimates, the company's revenue fell 18.6% Y/Y, and it warned of cautious demand outlook due to a weak macro environment. Microchip announced plans for factory shutdowns, underutilization charges, and a raised quarterly dividend. The company's Q4 outlook is below consensus estimates.

Portfolio Pulse from Lekha Gupta

February 02, 2024 | 12:40 pm

AAPL

Apple, Inc. (AAPL) reported fiscal year 2024 first-quarter earnings with a mixed outcome, leading to a nearly 3% drop in premarket trading despite surpassing consensus estimates. The company faced challenges in China with a 12.9% revenue decline and issued soft guidance for the March quarter, impacting investor sentiment.

Portfolio Pulse from Shanthi Rexaline

February 02, 2024 | 12:39 pm

ABBV

AbbVie (NYSE:ABBV) reported Q4 earnings of $2.79 per share, surpassing the $2.77 estimate, and sales of $14.30B, exceeding the $14.02B estimate. However, this represents a 22.5% decrease in earnings and a 5.42% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:37 pm