Results for: Inc.

Home Bancshares, Inc. (HOMB) is expected to report earnings of $1.97 per share for 2024, up 1.8% year-over-year. This growth will be driven by loan growth, but margin contraction will limit the earnings potential. The company’s net interest margin is expected to decline by six basis points over the remaining nine months of 2024 due to rate cuts. However, loan growth is expected to remain steady at 0.6% each quarter, leading to a full-year loan growth of 2.4%. The company’s price-to-tangible book and price-to-earnings ratios suggest a combined target price of $25.3, implying a 2.2% upside from the current market price. Given the updated total expected return, the analyst has downgraded Home Bancshares to a hold rating.

During Meta Platforms, Inc.’s first-quarter earnings call, CFO Susan Li expressed caution when asked about the potential impact of the TikTok ban or sale on the US social media landscape. While acknowledging that they have been closely following the events, Li stated that it is too early to assess its impact on Meta’s business. CEO Mark Zuckerberg declined to address the question. The TikTok ban has garnered significant attention, with analysts suggesting that Meta and Google could emerge as winners if TikTok exits the US.

On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended selling Petróleo Brasileiro S.A. – Petrobras (PBR) and buying Enterprise Products Partners L.P. (EPD), Recursion Pharmaceuticals, Inc. (RXRX), Casey’s General Stores, Inc. (CASY), and Broadcom Inc. (AVGO). Cramer called Cheniere Energy, Inc. (LNG) “terrific.” Price action: PBR rose 0.1%, EPD fell 0.3%, CASY fell 0.1%, RXRX rose 1.3%, LNG fell 1%, and AVGO gained 2%.

An ambitious development project in East Cleveland, Ohio, is still underway despite losing fiscal support from Cuyahoga County. Nonprofits Euclid Circle, Inc. and the Olympia Foundation are transforming a former Department of Developmental Disabilities building into a light industrial space, charter vocational school, market, credit union, and eventually apartments. The project’s first phase was expected to cost over $3 million, which organizers had hoped to fund with a JobsOhio grant, a loan from Cuyahoga County’s Department of Development, equity, and a planning grant from JobsOhio. However, the Department of Development withdrew its loan after a tenant pulled out. Despite the setback, the developers are close to finalizing a deal to own the building and plan to make up for the lost county funding through private investment. The project is still facing challenges, including skepticism from some county council members about the scope of the project given the size of the building. However, supporters of the project believe it will bring much-needed investment and services to East Cleveland.

Calix, Inc. (CALX) reported Q1/2024 results in line with guidance, but below analyst expectations. Revenue and profitability declined, despite solid free cash flow. The appliance business faced challenges due to customer indecision on government funding, shorter lead times, and spending plan adjustments. The company’s guidance for Q2 also fell short of consensus estimates. Analysts are expected to reduce estimates, and the stock’s valuation is seen as rich. Stimulus funding delays and ongoing headwinds pose risks to future expectations.

Baiju Bhatt, a director at Robinhood Markets, Inc. (NASDAQ: HOOD), has sold 16,667 shares of the company’s stock, totaling approximately $285,994. The sale was part of a pre-arranged 10b5-1 trading plan adopted by Bhatt’s Living Trust in September 2023. Following the transaction, Bhatt’s Living Trust now directly holds 36,045 shares of Class A Common Stock and indirectly owns 58,416,704 shares of Class B Common Stock. The sale is part of a planned trading strategy and does not necessarily reflect a change in company outlook.

David Zaslav, President and CEO of Discovery, Inc., has played a pivotal role in transforming the company from a traditional cable network into a global media conglomerate. Through strategic acquisitions, including the purchase of Scripps Networks Interactive and the historic merger with WarnerMedia, Discovery has significantly expanded its portfolio and global footprint.

A securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Rivian Automotive, Inc. (Rivian or the Company) (NASDAQ: RIVN) between March 1, 2023, and February 21, 2024, inclusive (the Class Period). The lawsuit alleges that the Company failed to disclose to investors that it had overstated demand for its products, its ability to withstand negative macroeconomic impacts, and that its order bank had significantly deteriorated, which negatively impacted its anticipated earnings and vehicle production targets.