Electric vehicle leader Tesla Inc (NASDAQ:TSLA) reported first-quarter revenue and earnings per share that missed Street consensus estimates.  Here's a look at what analysts are saying after the report and for the future of the company.  The Tesla Analysts: Truist analyst William Stein has a Hold rating and lowers the price target from $176 to $162.  Piper Sandler analyst Alexander Potter has an Overweight rating and a price target of $205.  Bank of America analyst John Murphy upgrades shares from Neutral to Buy and has a price target of $220.  Needham analyst Chris Pierce has a Hold rating and no price target.  Mizuho analyst Vijay Rakesh has a Neutral rating and lowers the price target from $195 to $180.  Goldman Sachs analyst Mark Delaney has a Neutral rating and price target of $175.  Oppenheimer analyst Colin Rusch has a Perform rating and no price target.  Roth MKM analyst Craig Irwin has a Neutral rating and price target of $85.  Related Link: Tesla Stock Is Ripping Higher Wednesday: What’s Going On? Truist on Tesla: New products and artificial intelligence developments could help the company, Stein said in a new investor note.  "Tesla's Q1 result was modestly below consensus, but messaging around new auto products and improving AI developments were distinctly positive surprises, likely smoothing performance between the prior, growth wave and the next growth wave," Stein said.  The analyst said Tesla has several risks, which include price cuts and the overhang of CEO Elon Musk's compensation package being voted on by shareholders.  "The most important update today is that, instead of waiting for the next-gen platform to drive a wave of growth starting in late 2025, Tesla now plans to release more iterative versions of vehicles before late 2025 using aspects of the next gen platform."  The analyst said this push could help "smooth the transition" for the company's waves of growth.  Piper Sandler on Tesla: First quarter results from Tesla were better than expected, Potter said.  The analyst said investors likely expected the worst with recent reports of weak deliveries and mass layoffs. "Make no mistake: the TSLA thesis hinges ...Full story available on Benzinga.com

Leading electric vehicle company Tesla Inc (NASDAQ:TSLA) reports first-quarter financial results after market close Tuesday, April 23. Here are the key earnings estimates, what analysts are saying and key items to watch. Earnings Estimates: Analysts expect Tesla to report first-quarter revenue of $22.34 billion, according to data from Benzinga Pro. The company reported revenue of $23.33 billion in last year's first quarter. Tesla has beaten revenue estimates from analysts in three of the last five quarters. Analysts expect Tesla to report earnings per share of 51 cents in the first quarter, compared to 85 cents reported in last year's first quarter. Over the past five quarters, Tesla beat analysts' earnings per share two times, missed two times and was even one time. Tesla missed revenue and earnings per share estimates in the past two quarters compared to estimates from analysts. In its fourth-quarter financial results, the company said it was between growth waves. "In 2024, our vehicle growth rate may be notably lower than the growth rate achieved in 2023," the company said. Related Link: Tesla Q4 Earnings Highlights: Revenue Miss, EPS Miss, Model Y A Global Bestseller, Next-Gen Vehicle Update And More What Analysts Are Saying: Tesla had several well-known issues that would factor into the first quarter earnings results, Bank of America analyst John Murphy said in a new investor note. "TSLA stock has been under material pressure due to both weaker EV fundamentals and sentiment around the electrification theme," Murphy said. The analyst had a Neutral rating and price target of $220 on Tesla. Murphy said the focus from investors would be on demand and future growth plans from Tesla. "Despite near-term ...Full story available on Benzinga.com

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BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $550. The analyst marginally increased his first-quarter estimates for positive ad checks and Easter benefits but lowered second-quarter and 2024 estimates for recent U.S. dollar depreciation.  Post estimates first-quarter revenue of $36.4 billion (up 27% Y/Y) above Street at $36.2 billion.  Also Read: Google’s DeepMind to Lead Unified AI Charge as Company Seeks to Outpace Microsoft He expects ad revenue to grow 26% year over year to $35.5 billion (vs. the Street at $35.4 billion), with 2 points of Q/Q acceleration.  Post estimates EBITDA at $20.9 billion and EPS at $4.48, above Street at $20.3 billion and $4.33, respectively.  For users, Sensor Tower suggests healthy Instagram users & time spent (though Facebook time ...Full story available on Benzinga.com

VICTOR, N.Y., April 18, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today that its indirect, wholly-owned subsidiaries, Greenstar Canada Investment Limited Partnership (“Greenstar”) and CBG Holdings LLC (“CBG”), have converted (the "Conversion”) their common shares (“Common Shares”) of Canopy Growth Corporation (“Canopy”) into non-voting and non-participating exchangeable shares of Canopy (“Exchangeable Shares”). The amendment to Canopy’s share capital and the creation of the Exchangeable Shares were authorized by Canopy shareholders at a special meeting held on April 12, 2024 (the “Amendment”). Greenstar and Canopy also agreed to exchange (the “Note Exchange” and together with the Conversion, the “Transactions”) C$81.2 million of the principal amount of the C$100 million promissory note due December 2024 issued by Canopy (the “Note”) for Exchangeable Shares pursuant to an exchange agreement between Greenstar and Canopy (the “Exchange Agreement”). Pursuant to the Exchange Agreement, Greenstar forgave all accrued but unpaid interest on the Note together with the remaining principal amount of the Note. Constellation had previously disclosed its intention to complete the Transactions following Canopy shareholder approval of the Amendment.

Johnson & Johnson (NYSE: JNJ) reported better-than-expected first-quarter earnings on Tuesday. The company posted adjusted EPS of $2.71, up 12.4% year over year, beating the consensus of $2.64. The pharma giant reported sales of $21.38 billion, up 2.3% year over year, almost in line with the consensus of $21.39 billion, according to data from Benzinga Pro. Johnson & Johnson also raised its quarterly dividend by 4.2% from $1.19 per share to $1.24 per share. Johnson & Johnson said it expects fiscal year 2024 operational sales of $88.7 billion-$89.1 billion versus prior guidance ...Full story available on Benzinga.com

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Monday, in an interim analysis of Marinus Pharmaceuticals Inc’s (NASDAQ:MRNS) phase 3 RAISE trial, evaluating intravenous (IV) ganaxolone as a treatment for refractory status epilepticus (RSE), failed to meet pre-defined “stopping criteria.” Marinus has completed RAISE enrollment at approximately 100 patients, with topline results expected in the summer of 2024. The company said the future development of IV ganaxolone in refractory status epilepticus will be assessed following a review of the final RAISE study results. An independent Data Monitoring Committee (DMC) recommended continuing the study. Cantor Fitzgerald said it shifted focus to oral ganaxolone (O-GNX), which is progressing in the global Phase 3 TrustTSC study for tuberous ...Full story available on Benzinga.com

Tuesday, Oppenheimer upgraded Avalo Therapeutics Inc (NASDAQ:AVTX), noting that its AVTX-009 is a promising drug candidate and looks forward to a Phase 2 topline data in 2026 in hidradenitis suppurativa (HS) and additional updates. In March, Avalo Therapeutics announced the acquisition of a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, originally developed by Eli Lilly And Co (NYSE:LLY). Avalo announced a private placement of $185 million in gross proceeds, including an initial gross upfront investment of $115.6 million. Oppenheimer says that the company is preparing to advance ‘009 for Phase 2 development in hidradenitis suppurativa (HS), showing confidence in its potential. While topline data won’t be available until 2026, there’s consideration to also ...Full story available on Benzinga.com

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Wall Street can breathe a sigh of relief following the tense events on Saturday night, when Iran launched airstrikes against Israel. For now, the specter of escalation towards a larger conflict seems to have been mitigated, as both U.S. and U.K. allies have sternly cautioned Israeli Prime Minister Benjamin Netanyahu against any retaliatory actions towards Tehran. Major U.S. indices moved sideways in midday trading on Monday in New York, halting the significant losses recorded last Friday and the risks of a further extension following last Saturday’s heightened geopolitical tensions. The market sentiment was further bolstered by a retail sales report that significantly exceeded expectations, showing a 0.7% increase last month. However, this robust data slightly tempered ...Full story available on Benzinga.com

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U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 500 points on Friday. The Dow traded down 1.37% to 37,934.02 while the NASDAQ fell 1.82% to 16,142.15. The S&P 500 also fell, dropping, 1.61% to 5,115.54. Check This Out: Best Buy, Box And 2 Other Stocks Insiders Are Selling   Leading and Lagging Sectors   Utilities shares fell by just 0.7% on Friday. In trading on Friday, materials shares dipped by 2%.   Top Headline   BlackRock, Inc. (NYSE: BLK) posted stronger-than-expected earnings for its first quarter. Revenue growth of 11% Y/Y to $4.728 billion, beating the consensus of $4.676 billion. Adjusted EPS increased 24% Y/Y to $9.81, beating the consensus of $9.32.   Equities Trading UP   PaxMedica, Inc. (NASDAQ: PXMD) shares shot up 106% to $0.8542 after the company announced the completed execution of three pivotal registration/validation batches of PAX-101. Shares of EZGO Technologies Ltd. (NASDAQ: EZGO) got a boost, surging 31% to $2.04. EZGO entered into a $1.84 million procurement agreement for sale of security patrol robots and platform. NextPlat Corp (NASDAQ: NXPL) shares were also up, gaining 28% to $1.93 after the company reported a year-over-year increase in FY23 consolidated revenue results. NextPlat announced ...

Shares of JPMorgan Chase & Co. (NYSE: JPM) fell sharply during Friday’s session following first-quarter earnings. Net revenue (managed) of $42.5 billion (+8% Y/Y), beating the consensus of $41.8 billion. Excluding an item resulted in an increase of $550 million (after tax) to reported net income from $13.4 billion to $14.0 billion and an increase of $0.19 per share to reported EPS from $4.44 to $4.63. EPS was $4.44, beating the consensus of $4.15. JPMorgan Chase shares dipped 5.1% to $185.49 on Friday. Here are some other stocks moving in today's mid-day session. Gainers PaxMedica, Inc. (NASDAQ: PXMD) jumped 143% to $1.0101 after the company announced the completed execution of its three pivotal registration/validation batches of PAX-101. EZGO Technologies Ltd. (NASDAQ: EZGO) gained 83.3% to $2.86. EZGO entered into a $1.84 million procurement agreement for sale of security patrol robots and platform. Allarity Therapeutics, Inc. (NASDAQ: ALLR) shares jumped 58.8% to $3.6550 after dipping 29% on Thursday. Allarity Therapeutics filed prospectus supplement to increase offering price of common stock that may be offered from $1.4 million to $2.4 million. Beneficient (NASDAQ: BENF) rose 45.5% to $0.1006 after dipping around 10% on Thursday. NextPlat Corp (NASDAQ: NXPL) shares jumped 44% to $2.1799 after the company reported a year-over-year increase in FY23 consolidated revenue results. NextPlat announced a proposed business combination with Progressive Care Inc. HUB Cyber Security Ltd. (NASDAQ: HUBC) gained 31.6% to $1.54. 9F Inc. (NASDAQ: JFU) surged 25.1% to $3.63. Hanryu Holdings, Inc. (NASDAQ: HRYU) surged 25% to $0.51. Argan, Inc. (NYSE: AGX) gained 21.5% to $59.97 as the company reported better-than-expected results for its fourth quarter on Thursday. Rent the Runway, Inc. (NASDAQ: RENT) gained 19.6% to $23.55. Rent the Runway shares jumped 162% ...

Friday, Agenus Inc (NASDAQ:AGEN) released updated results from its Phase 1 clinical trial of botensilimab and balstilimab (BOT/BAL) combination therapy for metastatic colorectal cancer (CRC) that is not microsatellite instability-high (MSS) or deficient mismatch repair (dMMR).  These findings build upon the compelling clinical activity demonstrated by BOT/BAL across nine different cancer types in Agenus’ broad clinical development program. In the Phase 1 trial of 77 patients with refractory MSS-CRC without active liver metastases, a 23% overall response rate (ORR) was observed after a median follow up of 13.6 months at the data cutoff of March 1, 2024.  The median duration of response in 18 responders has not yet been reached. The estimated 12-month and 18-month overall survival (OS) rates were 71% and 62%, respectively. The median OS was 21.2 months. The Phase 2 trial has completed enrollment and the ...Full story available on Benzinga.com

BMO Capital Markets analyst Keith Bachman reiterated the Outperform rating on Microsoft Corporation (NASDAQ:MSFT), raising the forecast to $465 from $455. Per the analyst, Microsoft’s valuation is reasonable on an EV/FCF and P/E basis, but not inexpensive.  The analyst writes that AI can help support longer-term growth, and the durable growth opportunities warrant a premium valuation. Microsoft is well positioned in the gaming market, particularly since leading content and scale are sources of competitive advantage. In the December quarter, gaming generated 11% of total revenues. While ...Full story available on Benzinga.com

RBC Capital analyst Rishi Jaluria reiterated Salesforce Inc (NYSE:CRM) with an Outperform and raised the price target from $325 to $350. The analyst hosted investor meetings with Valmik Desai, Director of Investor Relations, and Brooke Bakewell, Senior Manager of Investor Relations, which focused on Generative Artificial Intelligence, Data Cloud, margins, and macro. Jaluria noted that customers are enthusiastic about generative AI and, in many cases, are turning to Salesforce to help with their AI strategies.  Also Read: Salesforce Spends $20M on Einstein Image Rights, Securing AI Brand Dominance and Guinness Record That said, with Copilot in public beta and no release date set yet, it will likely take time before GenAI conversations translate into meaningful revenue (fiscal 2025 guidance assumes no GenAI contribution).  The analyst noted that the company believes it is well-positioned to benefit from AI because Salesforce, especially Sales/Service Cloud, serves as a control plane where people spend the vast majority of their day and a store for the majority of customer-centric data.  Salesforce’s first signs of ...Full story available on Benzinga.com

Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350. Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Patterson refined his estimates and framed vital factors to watch.  The analyst now expects 2024 revenue of €15.4 billion and 2025 revenue of €18.0 billion, which reflects slightly higher ARPU growth. His 2024 operating profit decreases by 20% due to social charges, while 2025 increases by 2% due to higher revenue.  Finally, Patterson introduced 2026 revenue of €20.6 billion and an operating profit of €2.2 billion, which assumes 14% revenue growth, 29.9% ...Full story available on Benzinga.com

BlackRock, Inc. (NYSE:BLK) shares are trading lower on Friday. The company reported revenue growth of 11% year over year to $4.728 billion in the first quarter, beating the consensus of $4.676 billion.  According to Goldman Sachs analyst Alexander Blostein, the company’s management fees of $3.778 billion missed consensus by 1% on worse-than-expected fee rate dynamics.  Blostein writes equity fee rates were light across all product types, and the Alts fee rate declined three bps quarter on quarter as catch-up fees rolled off, and Tech/risk management fees were also a bit light (-1% versus Street). The analyst adds that flows were driven by ...Full story available on Benzinga.com

Mizuho analyst John Roberts upgraded the shares of Ecolab Inc (NYSE:ECL) from Neutral to Buy and raised the price target from $216 to $260. According to the analyst, ECL appears back to its historical beat-and-raise visibility. The analyst noted that the company had almost 25 years of meeting or exceeding quarterly consensus estimates before the pandemic. Meanwhile, the analyst added that ECL is not resilient against travel/hospitality collapses, which happened during the pandemic & immediately post-9/11.  Greater cleanliness protects customer ...Full story available on Benzinga.com

By Jupiter Zheng For many years, observers have wondered when the behemoths of traditional finance, like BlackRock (NYSE: BLK) and JPMorgan (NYSE: JPM), would finally enter the blockchain arena in a big way. The expectation that these bellwethers of global finance would, in a sense, “see the light” by acknowledging the technological advantages of web3 was perhaps a little naive. But it was not unfounded: traditional investors have been making incremental shifts in this direction for some time, whether by investing in spot cryptocurrency, launching custody services, settling digital bonds on public ledgers, or creating their own product offerings for retail and institutional clients. The argument that blockchain and cryptocurrencies must be embraced by traditional powerhouses in order to flourish is a sound one. But the heavy focus on legacy financial institutions overlooks something important: the rise of crypto-native institutions. Rather than having to be convinced of the merits of distributed ledgers, these forward-looking innovators and investors grew up with decentralized tech at the heart of their operations and vision. And make no mistake, they will be the ones to drive the industry – and maybe finance as a whole – forward. We Were Always Here: The Vitality of Crypto-Native Institutions As the crypto industry has matured, a new breed of institution has emerged. These are not your traditional Wall Street firms belatedly flirting with blockchain tech; they are entities that fundamentally understand and appreciate the ethos of decentralization. They get the tech, and the reasons for its development, at an instinctive level. They have been an integral part of Web3 since the technology’s inception, and have evolved together with it. From the beginning, these institutions have been key drivers in the industry’s advancement through major milestones, from the rise ...Full story available on Benzinga.com

Technology giant Apple Inc (NASDAQ:AAPL) is set to report second-quarter financial results after market close on May 2, 2024, with investors and analysts ready to hear more about several catalysts, including question marks over demand in China. A leading analyst previewed the second quarter earnings with several catalysts that could lead to a strong second half of fiscal 2024. The Apple Analyst: Goldman Sachs analyst Michael Ng had a Buy rating on Apple and lowered the price target from $232 to $226. Related Link: Apple Q1 Earnings Beat Estimates As Cupertino Snaps 4-Quarter Revenue Decline Streak; Stock Slides On China Weakness The Analyst Takeaways: Second-quarter iPhone revenue could decline 11% year-over-year to $45.9 billion, according to estimates from the analyst. "The overall industry environment for smartphones and PCS is improving, which should be supportive for AAPL product sales in C2024/25 (calendar years 2024, 2025)," Ng ...Full story available on Benzinga.com

Needham analyst Quinn Bolton reiterated a Buy rating on Marvell Technology Inc (NASDAQ:MRVL) with a price target of $95. On Thursday, Marvell hosted its Accelerated Infrastructure for the AI Era Event, at which it laid out its Data Center expectations and growth drivers. Growth opportunities include custom computing, cloud optics, AEC DSPs, silicon photonics (SiPho), and Ethernet switching.  Marvell’s key announcements included the company’s third North American hyperscaler customer for custom silicon, likely to generate more revenue than its first two hyperscaler customers combined, expectations for AI revenue to exceed $1.5 billion and $2.5 billion in fiscal 2025 and fiscal 2026, respectively, and an updated Data Center TAM that will exceed $75 billion in 2028 with Marvell’s goal to secure 20% share of this TAM long-term. Also Read: Marvell Technology Poised To Expand Leadership In AI Chip Market, Analyst Sees Market Potential Worth Billions Should the company achieve ...Full story available on Benzinga.com

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Friday. The Dow traded down 0.82% to 38,143.73 while the NASDAQ fell 1.16% to 16,252.28. The S&P 500 also fell, dropping, 0.98% to 5,147.87. Check This Out: Best Buy, Box And 2 Other Stocks Insiders Are Selling   Leading and Lagging Sectors   Energy shares rose by 0.9% on Friday. In trading on Friday, information technology shares fell by 1.4%.   Top Headline   Wells Fargo & Company (NYSE: C) posted stronger-than-expected earnings for its first quarter. Wells Fargo reported first-quarter earnings per share of $1.20, beating the analyst consensus of $1.09. Quarterly sales of $20.86 billion topped the Wall Street view of $20.20 billion.   Equities Trading UP   PaxMedica, Inc. (NASDAQ: PXMD) shares shot up 158% to $1.07 after the company announced the completed execution of three pivotal registration/validation batches of PAX-101. Shares of EZGO Technologies Ltd. (NASDAQ: EZGO) got a boost, surging 90% to $2.9690. EZGO entered into a $1.84 million procurement agreement for sale of security patrol robots and platform. NextPlat Corp (NASDAQ: NXPL) shares were also up, gaining 32% to $1.9987 after the company reported a year-over-year increase in FY23 consolidated revenue results. ...

As the retail landscape evolves amidst changing consumer behaviors and economic shifts, investors seek guidance on navigating this dynamic sector. The JPMorgan Retail Round-Up Conference 2024 shed light on key themes shaping the retail landscape this year, including: Stable U.S. consumer backdrop Resurgence in denim and activewear categories Renewed focus on consumer value. Amidst these trends, Christopher Horvers, head of U.S. Broadlines and Hardlines Retail at JPMorgan, presented compelling stock picks poised for growth in the retail sector. 1. Wayfair: Offers Upside From Sales, Margins Horvers expressed optimism about Wayfair Inc (NYSE:W), the leading online specialty retailer. He attributed its potential for growth to the improving demand for home goods. With sales expected to rise alongside the resurgence in home-related purchases, Wayfair stood to benefit from its dominance in the online home furnishings category. Horvers noted the company’s focus on cost optimization post-Covid-19 pandemic. “We see upside not only from sales but also from margins,” said Hoervers. 2. Lowe’s: Outdoor Patio Demand To See Acute Uplift Horvers ...Full story available on Benzinga.com

In recent evaluations by Zuanic & Associates and Water Tower Research LLC, Gold Flora Corporation (OTC: GRAM), a key player in the competitive California cannabis market, reported its financial outcomes for the fourth quarter of 2023. Despite a strategic decision leading to an 11% sequential dip in revenue, dropping to $28.4 million, the company’s focus on closing non-viable delivery depots and divesting an underperforming retail license has favorably impacted its profitability. Adjusted gross profit surged by 11.60% quarter-over-quarter to $18.7 million, and adjusted EBITDA turned a positive corner at $105,000, improving from a negative $459,000 in the previous quarter. Although the company made less money this period, dropping to $28.4 million, its profits rose to $18.7 million, and it earned more money than it spent, making $105,000 compared to losing $459,000 in the previous quarter. Interested in the latest developments in the industry? Stay abreast at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17. The two-day event at The Diplomat Beach Resort is a chance for entrepreneurs, both large and small, to network, learn, and grow. Get your tickets now on bzcannabis.com – Prices will ...Full story available on Benzinga.com

Arista Networks Inc (NYSE: ANET) shares tanked in premarket trading on Friday, amid concerns around AI stocks trading at a premium. Although ethernet could prevail in the AI era, the company is unlikely to be a big winner of this trend, according to Rosenblatt Securities. The Arista Networks Analyst: Mike Genovese downgraded the rating for Arista Networks from Buy to Sell while slashing the price target from $330 to $210. The Arista Networks Thesis: The stock is trading at a significant premium, as investors see the ...Full story available on Benzinga.com

Applied Digital Corporation (NASDAQ: APLD) reported worse-than-expected third-quarter financial results on Thursday. Revenue of $43.3 million, up 208% Y/Y, missed the consensus of $51.9 million. Adjusted loss of 24 cents per share, missed the consensus for a loss of 10 cents per share, according to data from Benzinga Pro. Adjusted EBITDA loss came in at $(2.3) million compared to an adjusted EBITDA of $0.9 million in the prior year.  "During the quarter, Applied Digital encountered several challenges ...Full story available on Benzinga.com

Investors in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) are grappling with unexpected challenges as inflation heats up, sending shockwaves through the bond market. iShares 20+ Year Treasury Bond ETF, once among the most favored bond funds of 2023, has seen a dramatic reversal of fortune, plunging to fresh lows in 2024 following a string of hotter-than-anticipated inflation data releases. Inflation Fears Spark Sell-Off In TLT iShares 20+ Year Treasury Bond ETF, like many bond funds, witnessed a sharp decline after the release of March’s Consumer Price Index, which surpassed expectations. The interest rate-sensitive ETF dropped 1.3%, contributing to its year-to-date decline, now standing at 9.17%. This marked a stark contrast to its performance last year when it garnered significant investor interest, attracting a staggering $24.8 billion in inflows, the most of any fixed-income ETF. Also Read: Producer Inflation ...Full story available on Benzinga.com

U.S. stocks were lower, with the Dow Jones index falling over 250 points on Friday. Shares of Argan, Inc. (NYSE: AGX) rose sharply during Friday’s session as the company reported better-than-expected results for its fourth quarter. Argan posted quarterly earnings of 89 cents per share, beating market estimates of 75 cents per share. The company’s quarterly sales came in at $164.55 million, topping expectations of $161.60 million, according to data from Benzinga Pro. Argan, shares jumped 21.5% to $59.97 on Friday. Here are some other big stocks recording losses in today’s session. Globe Life Inc. (NYSE: GL) shares rose 17% to $57.28 amid volatility following a short ...

In a recent equity research report by Zuanic & Associates, Chicago Atlantic Real Estate Finance (NASDAQ: REFI) showcases resilience and growth within the volatile cannabis sector. Pablo Zuanic, senior analyst, highlights REFI's premium trading status over mortgage REITs, underpinned by its exceptional growth trajectory and reliable dividend yields, signaling a bullish Overweight rating. Zuanic’s analysis suggests the stock will perform better than others in its sector, thanks to its strong growth and steady dividends. Interested in the latest developments in the industry? Stay abreast at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17. The two-day event at The Diplomat Beach Resort is a chance for entrepreneurs, both large and small, to network, learn, and grow. Get your tickets now on bzcannabis.com – Prices will increase very soon!  Operational Highlights And Strategic Moves The report compares the stock with (NASDAQ: Full story available on Benzinga.com

U.S. stocks traded lower this morning, with the Dow Jones index falling around 200 points on Friday. Following the market opening Friday, the Dow traded down 0.54% to 38,249.92 while the NASDAQ fell 0.83% to 16,305.21. The S&P 500 also fell, dropping, 0.62% to 5,166.70. Check This Out: Best Buy, Box And 2 Other Stocks Insiders Are Selling   Leading and Lagging Sectors   Energy shares rose by 1.1% on Friday. In trading on Friday, information technology shares fell by 1.1%.   Top Headline   Citigroup Inc (NYSE: C) posted better-than-expected earnings for its first quarter. Citigroup reported a first-quarter fiscal 2024 revenue decline of 2% year-over-year to $21.10 billion, beating the consensus of $20.39 billion. GAAP EPS of $1.58 beat the consensus of $1.20.   Equities Trading UP   PaxMedica, Inc. (NASDAQ: PXMD) shares shot up 137% to $0.9902 after the company announced the completed execution of three pivotal registration/validation batches of PAX-101. Shares of Beneficient (NASDAQ: BENF) got a boost, surging 65% to $0.1145 after dipping around 10% on Thursday. NextPlat Corp (NASDAQ: NXPL) shares were also up, gaining 44% to $2.17 after the company reported a year-over-year increase in FY23 consolidated ...

Constellation Brands Inc (NYSE: STZ) reported better-than-expected fourth-quarter financial results on Thursday. Constellation Brands reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion. Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 beat the consensus estimate of $2.09, according to data from Benzinga Pro. “We also generated strong operating cash flow, which enabled continued execution of our capital allocation priorities including: reducing our net leverage ratio from 3.6x to 3.2x, returning over $900 million to shareholders in dividends and share repurchases, and deploying ...Full story available on Benzinga.com

Nvidia Corp. (NASDAQ:NVDA) has pulled back from record high levels in recent sessions and yet has been a standout among stocks. An analyst on Thursday compared the stock with an American collegiate basketball legend. What Happened: “Nvidia is the Caitlin Clark of the stock market,” said Charlie Bilello, Creative Planning’s Chief Market Strategist. The comparison came in the wake of Creative Planning‘s CEO Peter Mallouk sharing a chart comparing the points scored and assists by Clark and 9,718 Division 1 college hoops players this season. The star basketball’s performance was a cut above the rest, going by the plotting. “That green dot in the far upper right corner is Caitlin Clark,” Mallouk said. Bilello drew a parallel between Nvidia and Clark by plotting the past 10-year stock performances and earnings ...Full story available on Benzinga.com

Amidst the burgeoning landscape of Artificial Intelligence (AI) investments, Hewlett Packard Enterprise Co (NYSE:HPE) stands out as a poised player, leveraging its broad-based portfolio and strategic partnerships to capitalize on emerging opportunities. Recently, insights gleaned from a management meeting by JPMorgan shed light on Hewlett Packard’s strategic positioning within the AI sector, setting the stage for potential growth. Hewlett Packard – Well Positioned To Leverage The Upcoming AI Cycle Samik Chatterjee, CFA, at JPMorgan, highlighted Hewlett Packard Enterprise’s (HPE) strategic positioning within the AI investment landscape. Chatterjee notes that AI investment, currently in its early stages, is primarily driven by Hyperscalers. However, he underscored Hewlett Packard’s potential to leverage this trend, particularly with anticipated investments from sovereigns, and governments. “HPE expects its strong relationship with the Governments around the globe to position it favorably to benefit from the investment cycle,” Chatterjee wrote. Hewlett Packard’s proprietary liquid cooling technology as a significant differentiator, providing the company with a competitive advantage in the infrastructure market. Moreover, he suggested that the company’s GreenLake offering could further incentivize on-premise AI investments, aligning with the expected preference of ...Full story available on Benzinga.com

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Citigroup cut the price target for Starbucks Corporation (NASDAQ: SBUX) from $102 to $95. Citigroup analyst Jon Tower maintained a Neutral rating. Starbucks shares fell 0.1% to close at $85.90 on Thursday. See how other analysts view this stock. Citigroup slashed the price target for Tesla, Inc. (NASDAQ: TSLA) from $196 to $180. Citigroup analyst Itay Michaeli maintained a Neutral rating. Tesla shares gained 1.7% to close at $174.60 on Thursday. See how other analysts view this stock. Needham cut CarMax, Inc. (NYSE: KMX) price target from $99 to $91. Needham analyst Chris Pierce maintained a Buy rating. CarMax shares fell 9.2% to close at $71.98 on Thursday. See how other analysts view this stock. Mizuho cut the price target for Phillips 66 (NYSE: Full story available on Benzinga.com

On CNBC’s "Halftime Report Final Trades," Shannon Saccocia of NB Private Wealth named iShares S&P GSCI Commodity-Indexed Trust (NYSE: GSG) as her final trade. Jason Snipe of Odyssey Capital Advisors said he likes Chubb Limited (NYSE: CB). The company’s operating income was up 42% year-over-year. On April 11, Evercore ISI Group analyst David Motemaden maintained Chubb with an Outperform and raised the price target from $270 to $281. The company is scheduled to issue its first quarter earnings release after the closing bell ...

On CNBC’s "Mad Money Lightning Round," Jim Cramer said he likes New Fortress Energy Inc. (NYSE: NFE), but "right now Wes Edens [co-founder of Fortress Investment Group and founder of New Fortress Energy] is kind of just hurt by the president.” On March 5, New Fortress Energy reported upsizing and pricing of $750 million of senior secured notes. Cramer said he likes Cummins Inc. (NYSE: CMI) and recommended buying the stock. "I think it’s terrific," he added. On March 14, Truist Securities analyst Jamie Cook initiated coverage on the shares of Cummins with a ...

The Dow Jones index closed slightly lower on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform. Tecogen The Trade: Tecogen Inc. (OTC: TGEN) Director John Hatsopoulos acquired a total of 1,000 shares an average price of $0.70. To acquire these shares, it cost around $700. What’s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of ...

Goldman Sachs Group, Inc. (NYSE: GS) is set to release earnings results for its first quarter before the opening bell on April 15, 2024. Analysts expect the New York-based investment bank to report quarterly earnings at $8.56 per share, down from $8.79 per share in the year-ago period. Goldman Sachs is projected to report quarterly revenue of $12.92 billion, compared to $12.22 billion in the year-earlier quarter, according to data from Benzinga Pro. On April 9, JMP Securities analyst Devin Ryan maintained Goldman Sachs Group with a Market Outperform and raised the price target from $440 to $460. With the recent buzz around Goldman Sachs, some investors may be eyeing potential gains from the company’s dividends, too. As of now, Goldman Sachs offers an annual ...

As of April 12, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above ...

The Nasdaq 100 closed higher by around 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision. Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform. Best Buy The Trade: Best Buy Co., Inc. (NYSE: BBY) SVP, Controller & CAO Mathew Watson sold a total of 3,520 shares at an average price of $82.43. The insider received around $290,154 from selling those shares. What’s Happening: Best Buy Co. Alphabet’s Google Cloud, and Accenture Plc have entered into a new collaboration ...

U.S. stock futures were lower this morning, with the Dow futures falling over 50 points on Friday. Shares of Applied Digital Corporation (NASDAQ: APLD) fell sharply in today’s pre-market trading after the company reported worse-than-expected third-quarter financial results. Applied Digital posted a quarterly loss of 24 cents per share, versus a year-ago loss of 10 cents per share. The company’s quarterly sales came in at $43.35 million versus expectations of $51.92 million, according to data from Benzinga ...

CarMax Inc (NYSE: KMX) reported weaker-than-expected fourth-quarter earnings on Thursday. CarMax reported a fourth-quarter FY24 sales decline of 1.7% year-on-year to $5.63 billion, missing the analyst consensus estimate of $5.79 billion. EPS of 32 cents missed the consensus estimate of 49 cents, according to data from Benzinga Pro. The company sold 287,603 units through combined retail and wholesale channels, a decrease of 0.9% year-over-year. The company opened four stores in the fourth quarter and had a total of 245 used car stores as of February 29, 2024. "We are encouraged by the performance of our business during the fourth quarter. We reported growth in ...Full story available on Benzinga.com

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy . Below are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector. Kennametal Inc. (NYSE: KMT) Dividend Yield: 3.34% Barclays analyst Julian Mitchell maintained an Equal-Weight rating and cut the price target from $25 to ...Full story available on Benzinga.com

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here’s the latest list of major oversold players in this sector, having an RSI near or below ...

The relief rally sparked by Thursday’s producer price index report is teetering on the edge. The mood has shifted back to cautiousness, with stock futures pointing towards a potential pullback in today’s final trading session of the week. Traders are meticulously analyzing each incoming piece of economic data to gauge the Federal Reserve’s next move. Upcoming consumer confidence data and speeches by Fed officials are likely to garner significant market interest. Big bank earnings released so far have triggered negative reactions, and this could cast a cloud on the upcoming reporting season and its impact on the market. Futures Performance On Thursday ( as of 6:30 a.m. EDT) Futures Performance (+/-) Nasdaq 100 -0.53% S&P 500 -0.43% Dow -0.27% R2K -0.52% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.30% to $516.43, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.43% to $443.45, according to Benzinga Pro data. Cues From Previous Session: Producer price data released on Thursday came in slightly lower than anticipated, initially triggering a knee-jerk negative reaction in the market. However, major averages reversed course later in the morning, steadily climbing before consolidating in late-day trading. The Nasdaq Composite and S&P 500 closed solidly higher, with the Nasdaq reaching a new closing high driven by strength in IT and communication services stocks. Conversely, the Dow Jones Industrial Average closed with a slight negative bias, marking its fourth consecutive down day.