Streetbeat News

Stock Prices

CRS

Carpenter Technology Corporation (NYSE:CRS) reported Q2 earnings per share (EPS) of $0.85, which was in line with analyst estimates, marking a significant increase from $0.13 per share in the same quarter last year. However, the company's sales of $624.20 million fell short of the expected $657.10 million, a 5.01% miss, though it was a 7.79% increase from the previous year's sales.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:04 pm

LBAI

Lakeland Bancorp (NASDAQ:LBAI) reported Q4 2023 earnings of $0.30 per share, missing the consensus estimate of $0.32, and a 41.18% decrease from the previous year. Sales were $72.09M, also missing the estimate of $73.80M, and down 18.69% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm

WWD

Woodward, Inc. has authorized a new stock repurchase program, allowing the company to buy back up to $600 million of its shares. This move is part of Woodward's capital allocation strategy and reflects its commitment to delivering shareholder value. The repurchase program does not have an expiration date and may be executed through various methods, including open market purchases or privately negotiated transactions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm

FRME

First Merchants (NASDAQ:FRME) reported Q4 2023 adjusted GAAP EPS of $0.87, which was in line with analyst estimates but represented a 26.89% decrease from the same period last year. Sales for the quarter were $156.51M, falling short of the $165.48M estimate by 5.42% and marking a 9.59% decrease from the previous year's sales.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm

ABT

Analysts have recently provided various updates on Abbott Laboratories (NYSE:ABT), with 4 somewhat bullish ratings in the last three months. The average 12-month price target for ABT has risen to $125.00, up from $117.25. Key analysts from firms like Raymond James and Wells Fargo have raised their price targets, reflecting a positive outlook on the company's performance. Despite a negative revenue trend of -2.56% over the last quarter, Abbott's net margin and ROA are strong, and its debt management is sound. The company is a major player in the healthcare sector, with a diverse product portfolio and significant international sales.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:00 pm

CBRE

Raymond James analyst Patrick O'Shaughnessy has reaffirmed a Strong Buy rating on CBRE Group (NYSE:CBRE) and increased the price target from $95 to $103.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:00 pm

TSLA

Elon Musk, CEO of Tesla, Inc. (NASDAQ:TSLA), expressed concerns about proxy advisory firms like Institutional Shareholder Services and Glass Lewis potentially voting him out as he aims to grow Tesla into a significant AI and robotics company. Musk seeks to have enough voting control to be influential but not full control, suggesting a 25% stake as ideal. Critics, including Jim Cramer, see this as a potential risk to Tesla's stock price. Tesla's AI and robotics are crucial for its future growth, particularly in self-driving technology and production efficiency. Musk currently owns just under 13% of Tesla and could increase his stake to over 20% through option exercises. Following these revelations, Tesla's stock dropped about 8% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 25, 2024 | 12:55 pm

AUID

CMP

NWBI

Insider purchases were reported for Northwest Bancshares, Compass Minerals International, and authID. Northwest Bancshares EVP Scott J Watson bought 5,000 shares at $12.90 each. Compass Minerals Director Joseph Reece acquired 5,000 shares at $21.24 each, and authID 10% owner Stephen Jeffrey Garchik purchased 3,311 shares at $8.89 each. These transactions may indicate confidence in the companies' prospects.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 12:54 pm

IBM

TSLA

IBM shares surged over 7% in pre-market trading after reporting Q4 revenue of $17.38 billion, surpassing estimates of $17.3 billion, driven by hybrid cloud and AI adoption. Adjusted earnings were $3.87 per share, beating the $3.78 estimate. Other stocks showed pre-market movements, with notable gainers including C3is Inc., Charge Enterprises, and Acutus Medical, and losers such as Akoustis Technologies and Tesla, which reported disappointing earnings.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 12:50 pm

M

Macy's, the iconic department store chain, may receive a takeover bid from private equity firm Sycamore Partners amidst declining sales and recent job cuts. The potential acquisition could signal a significant change in the company's operations and ownership structure.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 12:50 pm