Singing Machine Co Stock (NASDAQ:MICS), Trade Ideas

Singing Machine Co

Singing Machine Co Inc is engaged in the development, production, marketing and distribution of consumer karaoke audio equipment, toy products, accessories, music, and audio consumer electronic products. It contracts for the manufacturing of all its electronic equipment products with factories located in China. The company has also collaborated with a music content service provider that allows the company to offer karaoke downloads and streaming subscription services. This collaboration provides the company with a distribution platform for digital music sales and subscriptions and music sales to customers. Geographically, it derives a majority of revenue from North America and also has a presence in Europe; Asia, and Australia.

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Shares of  Helix Energy Solutions Group, Inc. (NYSE: HLX) fell sharply during Tuesday’s session following weak earnings.

Why Helix Energy Solutions Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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Ault Alliance Inc (AMEX: AULT) subsidiary Ault Lending, which owns around 28.2% of Singing Machine Co Inc (NASDAQ: MICS) shares, filed a derivative lawsuit against 

Disharmony in the Tune: Ault Alliance Strikes a Chord with Lawsuit Against Singing Machine Over Share Sale Controversy

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Why Harley-Davidson Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

The Singing Machine Company, Inc. - Common Stock

Singing Machine Co Inc

SAIA

Saia Says Company's Executive Vice President And Chief Financial Officer, Douglas Col, Plans To Retire After 10 Years, Including Last Four Years At Company;  Col To Maintain Positions Until Company Announces Successor

Stifel analyst Brad Reback maintains Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Buy and raises the price target from $455 to $475.

Price Target

Analyst Ratings

MSFT

Stifel Maintains Buy on Microsoft, Raises Price Target to $475

Barclays analyst Matthew Bouley maintains Anywhere Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) with a Underweight and lowers the price target from $5 to $4.5.

HOUS

Barclays Maintains Underweight on Anywhere Real Estate, Lowers Price Target to $4.5

WIIM

SNAP

Snap shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates. Also, the company reported a year-over-year increase in Q1 daily active users.

Stifel analyst J. Bruce Chan downgrades Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) from Buy to Hold and lowers the price target from $53 to $47.

Downgrades

Stifel Downgrades Knight-Swift to Hold, Lowers Price Target to $47

Barclays maintains Accolade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) with a Equal-Weight and lowers the price target from $13 to $11.

ACCD

Barclays Maintains Equal-Weight on Accolade, Lowers Price Target to $11

ABBV

AbbVie shares are trading higher after the company reported better-than-expected Q1 financial results and raised its FY24 adjusted EPS guidance above estimates.

HSBC analyst Mohammed Khallouf upgrades Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) from Reduce to Hold.

Upgrades

HSBC Upgrades Snap to Hold

&#8220;Mad Money&#8221; host Jim Cramer pointed out the disproportionate coverage of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">&#8220;losing leadership&#8221;</a> compared to Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) post their &#8220;spectacular quarters.&#8221;
What Happened: On Friday, Cramer took to X, formerly Twitter, to express his observation. He noted the abundance of articles discussing Apple&#8217;s recent struggles with <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">antitrust regulations</a> and its latest product, Vision Pro, while <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Google</a> and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">Microsoft&#8217;s remarkable quarterly results</a> barely made the news.
His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations, while Apple&#8217;s iPhone sales in China plunged.
&#8220;There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1783774623689011385?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Apple&#8217;s iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to data from Counterpoint Research.
This is Apple&#8217;s worst performance since 2020, largely due to the impact of Huawei Technologies Co.'s new <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" target="_blank" rel="noreferrer noopener">product launches</a> in the premium segment. Huawei's sales surged by 70% in the same period.
Why It Matters: Wall Street is eagerly anticipating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">Apple&#8217;s upcoming Q2 earnings</a> report, with analysts highlighting the stock&#8217;s promising outlook. Meanwhile, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft</a> and Alphabet have already reported impressive Q3 and Q1 earnings, respectively, beating both top and bottom-line estimates for five consecutive quarters.
Price Action: On Thursday, Apple closed at $169.89, Alphabet Inc. at $157.95, and Microsoft at $399.04, as per<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
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Analyst Color

Tech

General

AAPL

GOOG

GOOGL

Jim Cramer Says 'There Are Hundreds Of Articles' About Apple Losing Top Spot In China: 'Google And Microsoft Can Barely Buy An Inch Of Ink After Some Spectacular Quarters'

Charter currently expects full year 2024 capital expenditures to total between&nbsp;$12.2 billion&nbsp;and&nbsp;$12.4 billion, including line extensions capital expenditures of approximately&nbsp;$4.5 billion&nbsp;and network evolution spend of approximately&nbsp;$1.6 billion, compared to&nbsp;$4.0 billion&nbsp;and&nbsp;$0.9 billion, respectively, in 2023.

Guidance

CHTR

Charter Communications Reiterated 2024 Capex Outlook of $12.2B–$12.4B

Software giant Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported Thursday after the market close <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">strong third-quarter results,</a> sending its stock higher. 
On Cloud Nine: Microsoft attributed the strong quarterly performance, primarily to its Cloud business. &#8220;This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,&#8221; CFO Amy Hood said in a statement.
Microsoft&#8217;s Azure public cloud and other cloud services saw both GAAP and constant currency revenue growth of 31%.
Speaking on the earnings call, CEO Satya Nadella said, &#8220;Azure again took share as customers use our platforms and tools to build their own AI solutions.&#8221; He also noted that more than 65% of the Fortune 500 now use Azure OpenAI service.&nbsp;
Commenting on the Azure performance, Piper Sandler&#8217;s Brent Bracelin said the 31% growth exceeded the guidance for a 28% increase and reinforced his bullish view that Microsoft remained &#8220;best-positioned to monetize robust AI secular tailwinds while capitalizing on a first-mover advantage.&#8221;
Bracelin estimated that Azure AI contributed over a $5 billion annualized run rate. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Ancillary Beneficiaries: Calling Snowflake, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) and MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) as &#8220;Azure upside derivatives to watch,&#8221; Bracelin said these two companies have the most indirect exposure to consumption activity trends across the Cloud Titan cohort.
&#8220;Majority of revenue for SNOW is consumption-based while about 66% of revenue mix for MDB is consumption-based,&#8221; he said.
Bozeman, Montana-based Snowflake is a data-as-a-service company — backed by <a href="https://www.benzinga.com/news/large-cap/23/08/33611401/in-ai-we-trust-warren-buffett-sent-46-7-of-berkshire-hathaways-portfolio-there">Warren Buffett&#8216;s Berkshire Hathway</a> — offering a cloud-based data storage and analytics service and New York-based MongoDB is a provider of commercial support for the source-available database engine MongoDB.
In premarket trading on Friday, Snowflake rose 3.19% to $157.37&nbsp;and MongDB climbed 3.55% to $379.13, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> Microsoft rallied 4.34% to $416.34.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38455462/wall-street-futures-ride-high-on-microsoft-alphabet-cheer-but-will-inflation-data-burst-the-bubble-">Wall Street Futures Ride High On Microsoft, Alphabet Cheer, But Will Inflation Data Burst The Bubble? Why This Analyst Thinks Bull Run Isn&#8217;t Over Yet</a>
Photo via Shutterstock

Long Ideas

SNOW

Microsoft's Azure Strength Could Rub Off On This Warren Buffett-Backed Stock And Another Big Cloud Player, Says Analyst

HCA Healthcare shares are trading lower. The company reported Q1 financial results.

Raymond James analyst Brian Gesuale upgrades Kratos Defense &amp; Security (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>) from Outperform to Strong Buy and raises the price target from $20 to $27.

KTOS

Raymond James Upgrades Kratos Defense & Security to Strong Buy, Raises Price Target to $27

Enabled by high-capacity batteries, this key technology seeks to enhance security for users, ensure the conformity of all system components, and deliver an elevated boating experience.

VMAR

Vision Marine Technologies Says It Filed Patent For Advanced System Communication Encryption In E-Motion Powertrain

Needham analyst Laura Martin reiterates Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) with a Buy and maintains $100 price target.

Reiteration

ROKU

Needham Reiterates Buy on Roku, Maintains $100 Price Target

Earnings

Large Cap

Health Care

AbbVie Is Raising Its 2024 Adjusted EPS Guidance From $10.97-$11.17 To $11.13-$11.33, Which Includes An Unfavorable Impact Of $0.08 Per Share Related To Acquired IPR&D And Milestones Expense, Versus Consensus Of $11.12

For the first quarter, the Company expects revenue to increase over 40% year-over-year and come in between $18.5 million and $19.2 million with a GAAP net loss and Adjusted EBITDA loss between $(8.2) - $(7.0) million and $(1.0) - $(0.7) million, respectively (see definition of this non-GAAP measure and reconciliation to GAAP, below). The year-over-year revenue increase was primarily driven by strong organic growth due to our Dynamic Audience Activation Platform (DAAP) as well as from our October 2023 acquisition of Medicx Health.
Steve Silvestro, OptimizeRx President commented, "The momentum from the fourth quarter has carried into the first quarter of 2024 with the signing of 9 new DAAP deals. Current industry trends favor our approach with pharma looking to partner with scalable platforms that have agile precision-marketing capabilities which at its core is what our AI enabled platform delivers."
"Our commercial integration strategy between OptimizeRx and Medicx is also progressing ahead of our expectations, with numerous new cross-sell opportunities in late-stage negotiations. The integration of the two businesses is ahead of schedule and we are optimistic about our performance. With the addition of Medicx, we stand out as the only scalable platform with both HCP and direct-to-consumer reach. This unique positioning enhances our ability to cross-sell and upsell, unlocking significant value. We estimate the potential opportunity with existing brands alone to be nearly $2.8 billion, with even greater potential for brands we don't yet support. This favorable environment strengthens our confidence in meeting or exceeding our financial targets."

OPRX

OptimizeRx Corporation Says 1Q24 Revenue Expected To Grow Over 40% YoY And Come In Between $18.5M-$19.2M Vs. $17.03M Estimate; Company Says DAAP Adoption And Cross Selling Activities Are Tracking Ahead Of Internal Expectations

HC Wainwright &amp; Co. analyst Edward White reiterates Syndax Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDX#NASDAQ">SNDX</a>) with a Buy and maintains $41 price target.

SNDX

HC Wainwright & Co. Reiterates Buy on Syndax Pharmaceuticals, Maintains $41 Price Target

Mizuho analyst Vijay Rakesh maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Buy and lowers the price target from $55 to $45.

INTC

Mizuho Maintains Buy on Intel, Lowers Price Target to $45

AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) reported quarterly earnings of $2.31 per share which beat the analyst consensus estimate of $2.23 by 3.59 percent. This is a 6.1 percent decrease over earnings of $2.46 per share from the same period last year. The company reported quarterly sales of $12.310 billion which beat the analyst consensus estimate of $11.923 billion by 3.25 percent. This is a 0.70 percent increase over sales of $12.225 billion the same period last year.

Earnings Beats

AbbVie Q1 2024 Adj EPS $2.31 Beats $2.23 Estimate, Sales $12.310B Beat $11.923B Estimate

Warning: MICS is at high risk of performing badly

These Technology stocks are trading higher:-Minim Inc (MINM) stock is trading at $7.99, an increase of $7.08, or 771.98%, on high volume.  Minim Inc gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $8.75.  -Singing Machine Company I

Technology Stocks Moving Up and Down Thursday: MINM, MICS, ZUO, CRM, WETG, AAOI, QUIK, PSTG

CCCC, XPOF and AUVI are among pre market gainers

Singing Machine says subscription service with Stingray up 34.8% in 2023

These Technology stocks are trading higher:-CXApp Inc (CXAI) stock is trading at $3.09, an increase of $1.54, or 99.35%, on high volume.  Cxapp Inc gets a Sentiment Score of Very Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $6.00.  -Singing Machine Compa

Technology Stocks Moving Tuesday: CXAI, MICS, STRC, BBAI, IFBD, TWKS, AUUD, CLVT

The Singing Machine gets $2M credit facility

AAOI

AUUD

AUVI

CCCC

IOAC

MINM

PSTG

QUIK

STRC

XPOF

Opinion

Press Releases

Thinking about buying stock in Invo Bioscience, Singing Machine Company, Beauty Health, Beyond Air, or Tivic Health Systems?

Singing Machine to Announce its Financial Results for the Second Quarter Fiscal 2024

Singing Machine Announces Results of Operations For Second Quarter Fiscal 2024

Singing Machine Completes $2.0 Million Private Placement

Ault Alliance Subsidiary Files Lawsuit Against Singing Machine CEO Gary Atkinson and Other Directors Who Approved Highly Dilutive Related Party Stock Sale

Singing Machine and Stingray Unveil New Karaoke Gaming & Scoring Capabilities Targeting the Automotive Market

Company Generates Record Subscriptions Sales for 2023 Holiday Season

Singing Machine Announces Distribution & License Agreement for Singing Machine Product Sales in the People's Republic of China