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C

Citigroup Inc (NYSE:C) reported Q1 fiscal 2024 results with a revenue of $21.10 billion, surpassing the consensus of $20.39 billion, and a GAAP EPS of $1.58, beating the $1.20 consensus. Despite a 2% revenue decline year-over-year and a 27% decrease in net income due to higher expenses and credit costs, Citigroup's results exceeded expectations. The company confirmed its fiscal 2024 revenue outlook of $80.00 billion to $81.00 billion, against a consensus of $73.69 billion. Following the announcement, Citigroup shares dropped by 0.6%. Analysts from Oppenheimer and Piper Sandler adjusted their price targets on Citigroup, with Oppenheimer lowering it to $87 and Piper Sandler increasing it to $70.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 4:09 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

Oil prices are falling due to an Iranian attack on Israel, with minimal damage reported thanks to advance notice. Apple's iPhone shipments fell 10%, and Tesla is laying off 10% of its workforce but cutting its Full Self-Driving subscription price. Positive early trade money flows are seen in Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust, while negative flows are in Apple and Tesla. The article also discusses the impact of consumer spending and financial conditions on the stock market.

Portfolio Pulse from The Arora Report

April 15, 2024 | 4:08 pm

TRNS

Transcat Inc (NASDAQ:TRNS) has acquired Becnel Rental Tools LLC for $50 million, aiming to boost its rental portfolio and expected margins. The deal, effective April 15, 2024, includes $32.5 million in company stock and $17.5 million in cash. Becnel, an ISO 9001:2015 certified provider of rental tools for oil well maintenance, will retain its staff and leadership under President Jason Becnel. Transcat anticipates the acquisition to enhance its offerings, profit margins, and EBITDA margins across its Service and Distribution segments, with an acquired EBITDA of approximately $5.8 million. As of December 23, 2023, Transcat reported $35.2 million in cash and equivalents. TRNS shares slightly declined by 0.09% to $110.19.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 4:04 pm

SMCI

Super Micro Computer (SMCI) shares are experiencing an increase in trading activity, potentially due to ongoing volatility in the AI sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:03 pm

LGVN

MRNS

NMRA

RARE

SCHW

SNGX

SNPO

U.S. stocks traded higher with the Dow Jones gaining over 100 points. Charles Schwab Corporation reported a decline in Q1 2024 earnings but beat revenue estimates. Soligenix, Longeveron, and Snap One Holdings saw significant stock increases, while Marinus Pharmaceuticals, Neumora Therapeutics, and Ultragenyx Pharmaceutical experienced declines. Crude oil and gold prices fell, while silver and copper prices rose. European and Asian markets showed mixed results, with economic indicators like the NY Empire State Manufacturing Index and retail sales showing improvement.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 4:02 pm

DTE

Analysts have diverse views on DTE Energy (NYSE:DTE), with recent evaluations ranging from bullish to bearish. The average 12-month price target is $113.0, reflecting a slight increase from the previous target. DTE Energy, with significant operations in Michigan, faces challenges including a -24.17% revenue decline and below-average net margin, yet it maintains strong ROE and ROA figures. Analysts' ratings and price targets have been updated, indicating varying expectations for the company's performance.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:01 pm

BIGC

Six analysts have recently updated their ratings on BigCommerce Holdings (NASDAQ:BIGC), showing a mix of perspectives with an average 12-month price target of $10.33, down from $10.70. The ratings reflect adjustments due to market conditions and company performance, with most analysts lowering their price targets. BigCommerce Holdings, a SaaS e-commerce platform provider, has shown a revenue growth rate of 16.18% as of December 31, 2023, but faces challenges with a high debt-to-equity ratio of 13.72.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:01 pm

METC

Analyst reviews for Ramaco Resources (NASDAQ:METC) over the last three months show a unanimous bullish outlook, despite a slight decline in the average 12-month price target from $27.25 to $27.00. The company's financial performance indicates strong growth, with a revenue increase of 49.92%, a net margin of 14.82%, and an ROE of 8.32%. Ramaco Resources operates as a metallurgical coal company with operations in West Virginia and Virginia, and explores opportunities in rare earth elements and coal-to-carbon-based products.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:01 pm

RMD

Over the past 15 years, ResMed (NYSE:RMD) has delivered an average annual return of 16.58%, outperforming the market by 3.87% annually. With a current market capitalization of $27.51 billion, an initial investment of $1000 in RMD would have grown to $10,104.11 today.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:00 pm

NVO

Over the past 5 years, Novo Nordisk (NYSE:NVO) has significantly outperformed the market, with an annualized return of 27.13% and an average annual return of 39.15%, turning a $1000 investment into $5,200. The company's market capitalization stands at $561.38 billion.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:00 pm