Airline company Alaska Air Group, Inc. (NYSE:ALK) is set to report first-quarter financial results before market opens Thursday, April 18.

Here are the key earnings estimates and items to watch.

Earnings Estimates: Analysts estimate Alaska Air will report first-quarter revenue of $2.19 billion, according to data from Benzinga Pro.

The company reported revenue of $2.196 billion in last year’s first quarter. Alaska Air has beaten revenue estimates from analysts in three of the past five quarters.

Analysts expect the company to report a loss of $1.05 per share in the first quarter, compared to a loss of 62 cents per share in last year’s first quarter. The company missed analysts’ estimates for earnings per share in three of the past five quarters.

Guidance from the company previously said it expected to hit earnings per share of $3 to $5 for the full fiscal 2024 year.

Related Link: Compensation Package: Boeing Assists Alaska Air with $160M Amid Crisis

Key Items to Watch: Alaska Air is among the airline stocks impacted by safety concerns from airplanes made by Boeing Co (NYSE:BA).

A Jan. 5 flight on a Boeing 737 MAX 9 flown by Alaska Airlines saw a plug door blow and an emergency landing was required. Alaska Airlines was forced to ground its Boeing planes for inspection.

As part of its fourth-quarter earnings, Alaska Air said it had completed final inspections of all its Boeing 737 MAX 9 planes and that a return to service would happen soon.

In December, Alaska Air announced a merger with Hawaiian Holdings, Inc. (NASDAQ:HA). The merger agreement is now under further investigation as a group of passengers, which includes former travel agents, filed a lawsuit Monday. The lawsuit alleges that the merger could harm air travel competition.

“The current trend toward concentration, the lessening of competition and the tendency to create a monopoly in the airlines industry is unmatched, unparalleled, and dangerous,” the lawsuit said, as shared by CNBC.

The merger is under current antitrust review by the U.S. Justice Department. The Justice Department recently blocked a $3.8 billion merger between JetBlue and Spirit Airlines, which saw the companies call off the planned tie-up.

An update on the timeline and any comment on the new lawsuit is one item to watch from the first-quarter financial report.

On Wednesday morning, Alaska Airlines saw an issue reported while upgrading its system that calculates weight and balance. The airline’s flights were paused as it worked to resolve the issue.

The earnings report from Alaska Air comes after peers Delta Air Lines, Inc. (NYSE:DAL) and United Airlines Holdings Inc (NASDAQ:UAL) reported quarterly results. Both airlines reported better-than-expected numbers and saw shares rise.

Earlier this week, United Airlines reported earnings per share and revenue, which both came in ahead of Street estimates. The company also expressed confidence in Boeing planes, adding that the grounding of planes cost it around $200 million.

Investors could be looking for the updated financial impact for Alaska Air, with the airline company previously saying it expected a $150 million negative impact from the grounding.

ALK Price Action: Alaska Air shares were up 3.31% at $42.15 on Wednesday at publication versus a 52-week trading range of $30.75 to $57.17. Shares of Alaska Air are up 7.1% year-to-date in 2024.

Read Next: American Airlines Vs. Alaska Air: Which Is The Better Buy Heading Into Q4 Earnings?

Photo: Chad Slattery, Courtesy Alaska Air

Intra-Cellular Therapies Inc (NASDAQ:ITCI) unveiled on Tuesday topline results from Study 501 evaluating lumateperone 42 mg as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD). 

Topline results from the second Phase 3 study, Study 502, are anticipated late in the second quarter of this year.

Caplyta (lumateperone) is a once-daily pill proven to deliver significant symptom relief from bipolar I and bipolar II depression.

“We believe that these robust efficacy results coupled with its favorable safety and tolerability profile and convenient dosing make CAPLYTA a compelling option as an adjunctive treatment for MDD, if approved,” said Sharon Mates, chairman and CEO of Intra-Cellular Therapies. 

Lumateperone 42 mg, given once daily as adjunctive therapy to antidepressants, met the primary endpoint in Study 501 by demonstrating a statistically significant and clinically meaningful reduction in the MADRS total score compared to placebo at Week 6. 

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Montgomery–Åsberg Depression Rating Scale (MADRS) is a widely used clinician‐rated measure of depressive severity.

In the modified intent-to-treat (mITT) study population, the least squares (LS) mean reduction from baseline for lumateperone 42 mg was 14.7 points versus 9.8 points for placebo, with an effect size of 0.61.

Lumateperone 42 mg also met the key secondary endpoint in the study by demonstrating a statistically significant and clinically meaningful reduction in the CGI-S score (severity of illness), compared to placebo at Week 6, with an effect size of 0.67.

Statistically significant efficacy was seen at the earliest time point tested (Week 1) and maintained throughout the study in the primary and the key secondary endpoints.

In this study, lumateperone 42 mg robustly improved depressive symptoms, as reported by patients.

Lumateperone was generally safe and well-tolerated in this study. 

ITCI Price Action: Intra-Cellular Therapies shares are up 27.60% at $82.64 at publication Tuesday.

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Photo by Julia Koblitz via Unsplash

Video-sharing platform Rumble Inc (NASDAQ:RUM) is set to report fourth-quarter (Q4) financial results after market close Wednesday.

Here are the key earnings estimates and items to watch.

Earnings Estimates: Analysts expect Rumble Q4 revenue to be $28.13 million, according to data from Benzinga Pro. That’s up from $19.96 million in last year’s three-month timeframe.

If Rumble hits the revenue estimate, it would mark the highest revenue total in any quarter in the current fiscal year.

Analysts expect Rumble to report a loss of 22 cents per share in the fourth quarter, compared to net even earnings per share in last year’s fourth quarter.

The 11-year-old company has beaten analysts’ estimates for revenue in four of the last five quarters. It has also beaten earnings per share estimates from analysts in two of the last four quarters.

Related Link: Rumble Stock Slides On Mixed Q3 Earnings Report: Details

Barstool

Along with revenue and earnings per share, investors and analysts will be looking at key user metrics from Rumble.

The Longboat Key, Florida-based company reported a partnership with Barstool Sports in January and features the sports media company on its homepage.

Rumble and Barstool Sports reached an advertising agreement and Rumble will be the preferred video home for the sports media company.

“With the power of Barstool Sports, we are going to help Rumble be the top player in the video, cloud and live streaming space. The partnership with Barstool Sports is a major step in pursuit of our mission to continue building a portfolio of widely popular sports and entertainment content,” Rumble CEO Chris Pavlovski said.

2024 Election

Rumble could also benefit from the current 2024 election cycle. The video platform has been the preferred home for former President Donald Trump ever since Trump Media & Technology Group (NASDAQ:DJT)migrated its website and mobile applications to Rumble’s cloud infrastructure in 2022.

Truth Social, the conservative-leaning social platform owned by Trump Media, is also expected to make a push into video, possibly siphoning far-right users away from Rumble.

“Rumble looks to have new competition from none other than $DWAC,” Culper Research tweeted recently. “DWAC disclosed for the first time that it has begun testing a new video streaming service which would provide ‘a home for canceled creators.’ Sounds familiar…”

Culper referenced the SPAC Digital World Acquisition Corporation in its post, which is the company that took Trump Media public.

Culper Research and several others have issued short reports on Rumble in the past.  

Trump currently hosts videos for events such as campaign speeches on Rumble, where he has 2.17 million followers. Many of his speeches rack up hundreds of thousands of views each.

Trump was also unbanned on X, formerly known as Twitter, in 2022 but has only posted once since the un-ban. Other conservative voices were also banned on X and have been welcomed back.

As X pushes more into video, it could also disrupt Rumble’s user growth and potential video partners.

TikTok

Rumble could also use the Q4 report to highlight its interest in becoming the cloud technology partner of TikTok. Pavlovski shared an offer letter on X sharing his interest to work with whoever buys the U.S. arm of TikTok.

RUM Price Action: Rumble shares trade at $7.51 Tuesday versus a 52-week trading range of $3.33 to $11.25. Rumble shares are down 10% over the last year, but have surged over 60% year-to-date in 2024.

Read Next: Trump-Linked Stocks Take Off As He Seeks GOP Nomination For White House

Image: Shutterstock

Leading airline company Delta Air Lines Inc (NYSE:DAL) is set to report first-quarter financial results before market open Wednesday, April 10, 2024.

Here’s a look at the key earnings estimates, analyst ratings and key items to watch.

Earnings Estimates: Analysts expect Delta Air Lines to report first-quarter revenue of $12.547 billion, according to data from Benzinga Pro.

The company reported revenue of $12.759 billion in last year’s first quarter. Delta has beaten revenue estimates from analysts in over 10 straight quarters.

Analysts expect the airline company to report first-quarter earnings per share of 35 cents, compared to 25 cents per share in last year’s first quarter.

The company has beaten earnings per share in four of the last five quarters, including three straight quarters.

Delta recently said it expects first-quarter earnings per share to come in a range of 25 cents to 50 cents. The company has guided for full year earnings per share to be in a range of $6 to $7.

Analyst Ratings: Several analysts increased their price targets on Delta Air Lines ahead of quarterly financial results.

Here are the most recent analyst ratings on Delta Air Lines.

Bank of America: Buy rating, raised price target from $50 to $53.

Morgan Stanley: Overweight rating, raised price target from $77 to $85.

UBS: Initiated with Buy rating, price target $52.

Related Link: Apple iPhone Allows ‘Greatest Hack’ Ever For Airline Flights: Text Yourself, Your Uber Driver And Watch The Magic Unfold

Key Items to Watch: The airline sector has had an up-and-down 2024 due to concerns over Boeing Co (NYSE:BA) airplanes and customer concerns of the safety of airplanes.

Delta shares have been among the better performers in the airline sector in 2024 and a strong earnings report could help continue to the positive momentum.

Comments on the ongoing Boeing struggles could be an item to watch. Delta recently said it expected Boeing 737 Max 10 deliveries to be postponed into 2027, from a previous estimate of 2025. Delta ordered 100 of this aircraft type.

Another item to watch could be overall health of the airline industry with Delta reporting strong March figures and saying it was seeing corporate demand come back.

The solar eclipse on April 8 was also an event highlighted by Delta having a flight that followed the path of totality. While this is only one flight, Delta may have benefitted from other flights that went near the path being booked and seeing strong ticket sales or overall strong travel around this key event.

The U.S. Global Jets ETF (NYSE:JETS) is up 11.4% over the last year and up 7.3% year-to-date in 2024. Delta is the largest holding in the airline ETF.

Delta shares meanwhile are up 40.9% over the last year and up 17.2% year-to-date.

DAL Price Action: Delta shares are up 2.26% to $47.10 on Monday versus a 52-week trading range of $30.60.

Read Next: Delta To Introduce Premium Lounge Experience At New York, Boston And Los Angeles Airports

Photo: Courtesy Delta

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 energy sector.

APA Corporation (NYSE:APA)

• Dividend Yield: 3.08%
• Piper Sandler analyst Mark Lear maintained a Neutral rating and raised the price target from $33 to $35 on April 19, 2024. This analyst has an accuracy rate of 76%.
• JP Morgan analyst Arun Jayaram maintained a Neutral rating and boosted the price target from $38 to $40 on April 11, 2024. This analyst has an accuracy rate of 74%.
• Recent News: APA is scheduled to host a conference call to discuss its first-quarter 2024 results on May 2, 2024.

Exxon Mobil Corporation (NYSE:XOM)

• Dividend Yield: 3.15%
• Piper Sandler analyst Ryan Todd maintained an Overweight rating and raised the price target from $130 to $145 on April 18, 2024. This analyst has an accuracy rate of 77%.
• Wells Fargo analyst Roger Read maintained an Overweight rating and boosted the price target from $126 to $138 on April 4, 2024. This analyst has an accuracy rate of 74%.
• Recent News: Exxon Mobil said it will release its first quarter 2024 financial results on April 26, 2024.

Northern Oil and Gas, Inc. (NYSE:NOG)

• Dividend Yield: 3.75%
• Piper Sandler analyst Mark Lear maintained a Neutral rating and raised the price target from $38 to $42 on April 19, 2024. This analyst has an accuracy rate of 76%.
• RBC Capital analyst Scott Hanold reiterated an Outperform rating with a price target of $46 on March 6, 2024. This analyst has an accuracy rate of 80%.
• Recent News: On April 16, Northern Oil and Gas issued an update regarding first quarter hedging results and stock repurchases.

Read More: Investor Optimism Improves, But Fear & Greed Index Remains In ‘Fear’ Zone

U.S. stock futures were higher this morning, with the Dow futures gaining over 150 points on Monday.

Shares of Tesla, Inc. (NASDAQ:TSLA) fell sharply in today’s pre-market trading after the company reduced vehicle prices in the US, Germany and China.

Late Friday after the market closed for the week, Tesla sprang in a surprise by announcing a $2,000 price cut for its U.S. electric-vehicle lineups, excluding the refreshed Model 3 and Cybertruck.

Tesla shares fell 3.6% to $141.82 pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• iLearningEngines, Inc. (NASDAQ:AILE) shares declined 16.4% to $5.75 in pre-market trading after declining 5% on Friday.
• Adlai Nortye Ltd. (NASDAQ:ANL) shares fell 12.7% to $13.97 in pre-market trading after surging 23% on Friday.
• Li Auto Inc. (NASDAQ:LI) fell 7.5% to $24.40 in pre-market trading. Shares of Chinese EV stocks traded lower after Tesla reduced vehicle prices in China.
• Mobile-health Network Solutions (NASDAQ:MNDR) fell 7.4% to $25.26 in pre-market trading after jumping 34% on Friday.
• Coeur Mining, Inc. (NYSE:CDE) shares declined 6.2% to $4.22 in pre-market trading. Shares of precious metals stocks traded lower amid a pullback in the price of gold and silver.
• i-80 Gold Corp. (NYSE:IAUX) shares fell 4.7% to $1.21 in pre-market trading after gaining around 6% on Friday.
• Informatica Inc. (NYSE:INFA) fell 6.4% to $32.94 in pre-market trading following reports suggesting Salesforce’s talks to acquire the company have eased.

Read More: Albertsons Companies, Nucor And 3 Stocks To Watch Heading Into Monday

Brown & Brown, Inc. (NYSE:BRO) is set to release earnings results for its first quarter after the closing bell on April 22, 2024.

Analysts expect the Daytona Beach, Florida-based company to report quarterly earnings at $1.05 per share, up from 84 cents per share in the year-ago period. Brown & Brown is projected to report quarterly revenue of $1.22 billion, compared to $1.07 billion in the year-earlier quarter, according to data from Benzinga Pro.

Brown & Brown recently acquired the assets of CHAPP and Citrus Insurance.

Brown & Brown shares rose 1.3% to close at $82.17 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Michael Ward maintained a Buy rating and raised the price target from $89 to $94 on April 16, 2024. This analyst has an accuracy rate of 76%.
• Wells Fargo analyst Elyse Greenspan maintained an Equal-Weight rating and boosted the price target from $81 to $84 on April 11, 2024. This analyst has an accuracy rate of 75%.
• Keefe, Bruyette & Woods analyst Meyer Shields maintained an Underperform rating and raised the price target from $75 to $80 on April 10, 2024. This analyst has an accuracy rate of 72%.
• Raymond James analyst C. Gregory Peters reiterated an Outperform rating and boosted the price target from $90 to $95 on March 26, 2024. This analyst has an accuracy rate of 72%.
• Truist Securities analyst Mark Hughes maintained a Buy rating and increased the price target from $85 to $92 on Jan. 24, 2024. This analyst has an accuracy rate of 80%.

Read More: Top 3 Risk Off Stocks That May Rocket Higher This Month

As of April 19, 2024, two stocks in the communication services 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 70, according to Benzinga Pro.  

Here’s the latest list of major overbought players in this sector.

Hanryu Holdings, Inc. (NASDAQ:HRYU)

• On Feb. 14, Hanryu Holdings 13D filing showed Hang Muk Shin and Sewang Co., Ltd. reported a 13.13% stake in the company as of Dec. 7, 2023. The company’s stock gained around 36% over the past five days and has a 52-week high of $7.78.
• RSI Value: 70.85                              
• HRYU Price Action: Shares of Hanryu Holdings rose 3.5% to close at $0.5899 on Thursday.

IZEA Worldwide, Inc. (NASDAQ:IZEA)

• On April 1, IZEA Worldwide posted downbeat quarterly results. “Last year we made comprehensive strategic adjustments to better position ourselves for 2024 and beyond,” commented Ted Murphy, Founder and CEO of IZEA. “This included shifts in organizational frameworks, as well as updates to our platforms and pricing strategies. We made these challenging yet necessary transitions to improve our operations, setting the stage for an upcoming era of ambitious global expansion through both organic and inorganic initiatives. I’m happy to report that we are beginning to see the positive outcomes of these changes in the first quarter of this year.” The company’s stock gained around 25% over the past month and has a 52-week high of $3.28.
• RSI Value: 80.12
• IZEA Price Action: Shares of IZEA Worldwide gained 2.4% to close at $2.59 on Thursday.

Also Read This: Netflix, Procter & Gamble And 3 Stocks To Watch Heading Into Friday

PepsiCo Inc (NASDAQ:PEP) will be reporting its first-quarter earnings on April 23 before market hours.

Wall Street observers expect $1.52 in EPS and $18.12 billion in revenues.

Here’s a look at the stock:

• PepsiCo stock is down 5.73% over the past year.
• It’s up 2.53% year-to-date.
• PepsiCo’s share price is currently above its 5, 20, and 50-day moving averages, indicating significant buying pressure and suggesting potential for further bullish movement.

Chart: Benzinga Pro

Also Read: Pepsi’s Fresh Face: Revamps Logo With Modern Flair, Expanding Reach In 120+ Countries

With its price of $174.81, above the five-day simple moving average (SMA) of $171.64 and the 20-day SMA of $170.88, PepsiCo displays clear bullish signals.

Additionally, the stock’s price is above the 50-day simple moving average of $168.70 and the 200-day SMA of $171.69, reinforcing the bullish sentiment.

Chart: Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator stands at 0.82 and has crossed over the signal, indicating a bullish momentum.

The Relative Strength Index (RSI) of 65.55 is steadily heading towards the overbought territory which begins at 70.

Bollinger Bands show the stock moving from the lower band to the upper band recently, reinforcing bullish sentiment for PepsiCo stock.

PepsiCo Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on PepsiCo stock stands at a Buy currently with a price target of $156.33.

The most recent analyst ratings issued from April 3 onwards by Barclays, Jefferies, and Argus Research, project an average price target of $131 for Pepsi stock. These ratings suggest a potential downside of approximately 24.73% for the company’s stock.

While the technicals appear bullish, analyst ratings appear to spell caution. Investors must take into account the fundamentals of the business too, when making an investment decision regarding PepsiCo stock.

Price Action: PepsiCo stock was trading at $174.56 at the time of publication.

Read Next: ‘Once-In-A-Lifetime Opportunity’: Wealth Manager Sees Potential In These Three Stocks

Image: Unsplash

Leading electric vehicle company Tesla Inc (NASDAQ:TSLA) is set to report first-quarter financial results on April 23, which comes after recent layoff news sent shares lower.

A leading tech analyst weighs in on the impact the first quarter could have on Tesla and its stock.

The Tesla Analyst: Wedbush analyst Dan Ives has an Outperform rating on Tesla and a price target of $300.

Related Link: Tesla Stock Rescue Plan: Analyst Lays Out 10 Items For Musk To Consider Including AI, Buyback, Acquisitions

The Analyst Takeaways: The first quarter earnings report and subsequent conference call could be a “moment of truth” for Tesla and CEO Elon Musk, Ives said.

“Next week’s conference call and messaging one of the most important moments in the company’s history in our view,” Ives said.

The analyst said Tesla has faced difficult times in the past, naming the 2015, 2018 and 2020 years as examples. Without a new strategy outlook on the conference call, Ives said there could be “darker days” ahead.

“This time is clearly a bit different as for the first time many long-time Tesla believers are giving up on the story and throwing in the white towel,” he added.

Ives said demand erosion in China has hurt the bull thesis on Tesla stock. A debate over whether the company should prioritize robotaxis or the Model 2 has also weighed on the stock, the analyst said.

“Global EV landscape that has turned Tesla from a Cinderella story to a horror show in the near-term.”

Ives said most analysts and investors are expecting a rough first quarter, what he calls a “rip the band-aid off quarter.” The analyst said it’s still important the company conveys the future of the company and tries to change the narrative of the story during this tough time.

Here are five key issues Ives believes should be addressed by Musk:

1. Negative growth trend in China, pricing strategy for the region
2. 2024 outlook for growth, free cash flow and margins
3. Model 2 update
4. Tesla artificial intelligence initiatives
5. Announce an AI Day

On point three, Ives said a second growth wave will not come for Tesla if the Model 2 is not a priority to come out in the next 12 to 18 months.

“Trading in Model 2 for robotaxis would be a tragic gamble in our opinion as full autonomy we do not see until 2030 for the industry. Musk needs to recommit to the Model 2 strategy ALONG with robotaxis but it CANNOT be solely replaced by autonomy.”

Ives said Tesla is “one of the most disruptive companies in the world” and he’s always had a long-term outlook on the company.

“HOWEVER the clock has struck midnight for Musk to lay out the strategic plan for the future.”

TSLA Price Action: Tesla shares trade at $150.46 on Friday versus a 52-week trading range of $148.10 to $299.29. Shares of Tesla are down 39.7% year-to-date in 2024.

Read Next: Tesla Q4 Earnings Highlights: Revenue Miss, EPS Miss, Model Y A Global Bestseller, Next-Gen Vehicle Update And More

Photo: Shutterstock