After lagging in 2023, the energy sector returned to the top of all sector returns in Q1 with a 13.5% return. This was driven by rising oil prices during the quarter. All segments of the energy sector were up, but the refiners were outstanding.
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining around 0.3% on Friday. The Dow traded down 0.49% to 39,585.67 while the NASDAQ rose 0.26% to 16,444.91. The S&P 500 also rose, gaining, 0.01% to 5,241.56.
Shares of Cutera, Inc. (NASDAQCUTR) fell sharply during Friday’s session after the company reported worse-than-expected fourth quarter adjusted EPS results.
Summit Midstream Partners shares surge after announcing $625 million cash sale of Summit Midstream Utica, reducing leverage and shifting portfolio focus.
U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 200 points. The Dow traded down 0.54% to 39,565.50 while the NASDAQ rose 0.04% to 16,408.74. The S&P 500 also fell, dropping, 0.14% to 5,233.98.
Summit Midstream reported Q4 FY23 revenue of $127.32M. Adjusted EBITDA was $75.0M, up from $50.3M last year. EPS loss improved. Company expects $260M-$300M EBITDA in FY24.
Companies Reporting Before The Bell • AudioCodes (NASDAQAUDC) is estimated to report quarterly earnings at $0.18 per share on revenue of $61.52 million.
Summit Midstream Partners LP (NYSESMLP) shares are trading higher by around 14% after the company disclosed its external advisors are evaluating strategic alternatives for the Partnership to maximize its unitholder value, including continued
Companies Reporting Before The Bell • CNH Industrial (NYSECNHI) is estimated to report quarterly earnings at $0.32 per share on revenue of $5.08 billion.
Targa Resources, which specializes in midstream energy infrastructure, has been consolidating. Can it surpass its April high and meet analysts' targets?
