IQ MacKay ESG Core Plus Bond ETF (ARCA: ESGB)

IQ MacKay ESG Core Plus Bond ETF (ARCA:ESGB), Trade Ideas

IQ MacKay ESG Core Plus Bond ETF

1Q Net sales up 2.7% and organic sales up 3.8% driven by Service net sales up 5.8% with organic sales up 6.5%
&bull;1Q GAAP EPS up 8.9% and adjusted EPS up 10.0% with GAAP operating profit margin expansion of 50 basis points and adjusted operating profit margin expansion of 80 basis points
&bull;1Q New Equipment orders down 10%, backlog down 2%, ~flat at constant currency
&bull;1Q Mod orders up 13%, backlog up 14%, up 15% at constant currency
&bull;Maintenance portfolio units increased 4.1%
&bull;1Q GAAP cash flow from operations of $171 million; adjusted free cash flow of $155 million
&bull;1Q share repurchases of $300 million
&bull;Updated full-year outlook1; increasing adjusted EPS to $3.83 to $3.90 and full year share repurchase target to $1 billion

Earnings

News

OTIS

Otis Q1 New Equipment Orders -10%, New Equipment Backlog -2%,

<div>System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between&nbsp;2.0 percent&nbsp;and&nbsp;4.0 percent&nbsp;compared to the&nbsp;second quarter&nbsp;of 2023.&nbsp;Adjusted EBITDA is projected to be between&nbsp;$890 million&nbsp;and&nbsp;$910 million.</div>

Guidance

Hilton Expects Q2 Adjusted EPS Of $1.80-$1.86, Est $1.88

Pacific Premier Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBI#NASDAQ">PPBI</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.47 by 4.26 percent. The company reported quarterly sales of $170.901 million which beat the analyst consensus estimate of $149.350 million by 14.43 percent. This is a 9.96 percent decrease over sales of $189.796 million the same period last year.

Earnings Beats

PPBI

Pacific Premier Bancorp Q1 2024 Adj EPS $0.49 Beats $0.47 Estimate, Sales $170.901M Beat $149.350M Estimate

Contracts

Tutor Perini's Subsidiary, Black Construction Corporation Won Three Projects In Diego Garcia Totaling $54.5M

Otis Worldwide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.87 by 1.15 percent. This is a 10 percent increase over earnings of $0.80 per share from the same period last year. The company reported quarterly sales of $3.437 billion which missed the analyst consensus estimate of $3.455 billion by 0.53 percent. This is a 2.72 percent increase over sales of $3.346 billion the same period last year.

Earnings Misses

Otis Worldwide Q1 2024 Adj EPS $0.88 Beats $0.87 Estimate, Sales $3.437B Miss $3.455B Estimate

Owens Corning Expects Q2 Net Sales To Be Stable Y/Y, While Generating About 20% EBIT Margins For Its Existing Businesses

<div>System-wide comparable RevPAR, on a currency neutral basis, is still projected to increase between&nbsp;2.0 percent&nbsp;and&nbsp;4.0 percent&nbsp;compared to 2023.&nbsp;Net unit growth, excluding the effect of the planned acquisition of the Graduate Hotels brand, is projected to be between&nbsp;6.0 percent&nbsp;and&nbsp;6.5 percent.</div>

Hilton Boosts FY24 Adj EPS Outlook From $6.80-$6.94 To $6.89-$7.03, Est $7.12

WIIM

Synchrony Financial shares are trading lower following Q1 financial results.

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Buy and maintains $150 price target.

Price Target

Reiteration

Analyst Ratings

NBIX

HC Wainwright & Co. Reiterates Buy on Neurocrine Biosciences, Maintains $150 Price Target

Third Quarter&nbsp;FY24&nbsp;Outlook
For the&nbsp;third quarter&nbsp;of fiscal 2024, the company expects net sales of approximately&nbsp;$4.0 billion. GAAP EPS from continuing operations are expected to be approximately&nbsp;$1.71, up&nbsp;2%&nbsp;year over year, with adjusted EPS of approximately&nbsp;$1.85, up&nbsp;5%&nbsp;year over year.&nbsp;Third quarter&nbsp;guidance&nbsp;includes a&nbsp;$0.15&nbsp;year-over-year headwind from tax and currency exchange rates.

TE Connectivity Expects Q3 Net Sales of $4B Vs $4.11B Est, Adj EPS of $1.85 Vs $1.92 Est

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) reported quarterly earnings of $3.59 per share which beat the analyst consensus estimate of $3.08 by 16.56 percent. This is a 29.6 percent increase over earnings of $2.77 per share from the same period last year. The company reported quarterly sales of $2.30 billion which beat the analyst consensus estimate of $2.28 billion by 0.88 percent. This is a 1.33 percent decrease over sales of $2.33 billion the same period last year.

Owens-Corning Q1 Adj. EPS $3.59 Beats $3.08 Estimate, Sales $2.30B Beat $2.28B Estimate

Bunge Sees FY24 Adj EPS Of $9.00 Vs. $9.39 Est.

Vertiv Holdings Sees Q2 Revenue Of $1.90B-$1.95B (Vs. $1.90B Cons.), Adj. EPS Of $0.53 - $0.57 (Vs. $0.55 Est.)

Synchrony Financial Purchase Volume Increased 2%, Loan Receivables Increased 12%, Net Interest Margin Decreased 67 bps

Annual Guidance for 2024
Thermo Fisher is raising its full year revenue and adjusted EPS guidance to reflect stronger operational performance. The company is raising its revenue guidance to a new range of $42.3 to $43.3 billion versus its previous guidance of $42.1 to $43.3 billion. The company is raising its adjusted EPS guidance to a new range of $21.14 to $22.02 versus its previous guidance of $20.95 to $22.00.
&nbsp;

Thermo Fisher Scientific Raises FY2024 Outlook: Adj EPS $21.40-$22.02 ($20.95-22.00 Prior) vs $21.53 Est; Sales $42.3B-$43.3B ($42.1B-43.3B Prior) vs $42.83B Est

TE Connectivity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEL#NYSE">TEL</a>) reported quarterly earnings of $1.86 per share which beat the analyst consensus estimate of $1.83 by 1.64 percent. This is a 12.73 percent increase over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $3.967 billion which beat the analyst consensus estimate of $3.956 billion by 0.27 percent. This is a 4.64 percent decrease over sales of $4.160 billion the same period last year.

TE Connectivity Q2 2024 Adj EPS $1.86 Beats $1.83 Estimate, Sales $3.967B Beat $3.956B Estimate

Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported quarterly earnings of $1.18 per share which missed the analyst consensus estimate of $1.35 by 12.59 percent.

Synchrony Finl Q1 2024 Adj EPS $1.18 Misses $1.35 Estimate

Bunge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>) reported quarterly adjusted earnings of $3.04 per share which beat the analyst consensus estimate of $2.53 by 20.16 percent. This is a 6.75 percent decrease over earnings of $3.26 per share from the same period last year. The company reported quarterly sales of $13.42 billion which missed the analyst consensus estimate of $13.96 billion by 3.89 percent. This is a 12.47 percent decrease over sales of $15.33 billion the same period last year.

Bunge Q1 Adj $3.04 Beats $2.53 Estimate, Sales $13.42B Miss $13.96B Estimate

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining over 70 points on Wednesday.
Shares of Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue <a href="https://www.benzinga.com/news/earnings/24/04/38391465/enphase-energy-q1-earnings-revenue-eps-come-in-below-estimates-amid-softening-us-demand">guidance below estimates</a>.
Enphase Energy reported first-quarter revenue of $263.3 million, which missed the consensus estimate of $281.95 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The company reported adjusted earnings of 35 cents per share, which missed analyst estimates of 40 cents per share.
Enphase saw second-quarter revenue in the range of $290 million to $330 million versus estimates of $350.706 million. The company anticipated second-quarter gross margin of 42% to 45%.
Enphase Energy shares dipped 7.3% to $105.18 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) fell 34.7% to $5.09 in pre-market trading after reporting fiscal year 2023 results.</li>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) fell 11.4% to $8.42 in pre-market trading after jumping over 137% on Tuesday. The company priced its IPO at $4 per share.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) fell 9.8% to $5.16 pre-market trading. Equinox Gold entered into a binding share purchase agreement with certain funds managed by Orion Mine Finance Management LP to acquire Orion&#8217;s 40% interest in Greenstone Gold Mine GP Inc., giving Equinox Gold 100% ownership of the Greenstone Mine in Ontario, Canada.</li>
<li>Revvity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) fell 6.1% to $97.17 in pre-market trading.</li>
<li>Jackson Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JXN#NYSE">JXN</a>) shares declined 5.9% to $65.45 in pre-market trading after gaining around 4% on Tuesday.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) shares fell 3.6% to $255.10 in pre-market trading following downbeat quarterly earnings.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares slipped 3.3% to $86.65 in pre-market trading following downbeat quarterly earnings.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38396278/investor-sentiment-improves-further-dow-jumps-over-250-points">Investor Sentiment Improves Further, Dow Jumps Over 250 Points</a>

Pre-Market Outlook

Markets

Movers

Trading Ideas

New Oriental Education & Technology Group

ENPH

RVTY

Enphase Energy Reports Weak Results, Joins Lithia Motors And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) reported quarterly Adj earnings of $1.53 per share which beat the analyst consensus estimate of $1.42 by 7.75 percent. The company reported quarterly sales of $2.573 billion which beat the analyst consensus estimate of $2.550 billion by 0.88 percent. This is a 12.21 percent increase over sales of $2.293 billion the same period last year.