Pyxis Tankers Stock (NASDAQ:PXSAP), Trade Ideas

Pyxis Tankers Inc is an international maritime transportation company that focuses on the product tanker sector. It owns a fleet that comprises double-hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.

Pyxis Tankers Inc. - 7.75% Series A Cumulative Convertible Preferred Shares

Pyxis Tankers Inc

News

RTX Unit Raytheon Breaks Ground On $115M Expansion Of Alabama Missile Integration Facility

AMAT

NXPI

Shares of semiconductor stocks are trading higher in sympathy with Texas Instruments, which reported better-than-expected Q1 financial results.

Artisan Partners Asset (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APAM#NYSE">APAM</a>) reported quarterly earnings of $0.76 per share which missed the analyst consensus estimate of $0.77 by 1.3 percent. This is a 18.75 percent increase over earnings of $0.64 per share from the same period last year. The company reported quarterly sales of $264.400 million which missed the analyst consensus estimate of $270.900 million by 2.40 percent. This is a 12.75 percent increase over sales of $234.500 million the same period last year.

Earnings

Earnings Misses

APAM

Artisan Partners Asset Q1 2024 Adj EPS $0.76 Misses $0.77 Estimate, Sales $264.400M Miss $270.900M Estimate

WIIM

AEYE

AudioEye shares are trading higher after the company reported better-than-expected Q1 financial results.

QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) reported quarterly earnings of $1.59 per share which beat the analyst consensus estimate of $1.30 by 22.31 percent. This is a 3.64 percent decrease over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $54.699 million which missed the analyst consensus estimate of $63.769 million by 14.22 percent. This is a 3.72 percent decrease over sales of $56.810 million the same period last year.

Earnings Beats

QCRH

QCR Hldgs Q1 2024 Adj EPS $1.59 Beats $1.30 Estimate, Sales $54.699M Miss $63.769M Estimate

VICR

Vicor shares are trading lower after the company reported worse-than-expected Q1 sales results.

Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $0.97 by 20.62 percent. This is a 5.65 percent decrease over earnings of $1.24 per share from the same period last year. The company reported quarterly sales of $142.800 million which beat the analyst consensus estimate of $137.323 million by 3.99 percent. This is a 2.86 percent decrease over sales of $147.000 million the same period last year.

Bank of N.T Butterfield Q1 2024 Adj EPS $1.17 Beats $0.97 Estimate, Sales $142.800M Beat $137.323M Estimate

Stride shares are trading higher after the company reported better-than-expected Q3 financial results and issued FY24 revenue guidance above estimates.

Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) reported financial results for the first quarter after the market close on Tuesday. 
Here&#8217;s a rundown of the energy company&#8217;s quarterly results and a look at what&#8217;s <a href="https://www.benzinga.com/pressreleases/24/04/g38389532/enphase-energy-reports-financial-results-for-the-first-quarter-of-2024">driving shares lower after hours</a>.
Q1 Earnings: Enphase Energy reported first-quarter revenue of $263.3 million, which missed the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $281.95 million, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported adjusted earnings of 35 cents per share, which missed analyst estimates of 40 cents per share.
U.S. revenue was down approximately 34% on a year-over-year basis, while revenues in Europe climbed approximately 70%. 
&#8220;The decline in revenue for the&nbsp;first quarter&nbsp;of 2024 compared to the&nbsp;fourth quarter&nbsp;of 2023 was the result of seasonality and a further softening in U.S. demand, while we continued to reduce shipments to manage channel inventory,&#8221; the company said. 
Gross margin came in at 43.9%. Enphase said it generated $49.2 million in cash flow from operations and $41.8 million in free cash flow during the quarter. The company ended the quarter with $1.63 billion in cash, cash equivalents&nbsp;and marketable securities.
Outlook: 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%. 
Shares appeared to be reacting negatively to the company&#8217;s worse-than-expected results combined with Enphase&#8217;s weak guidance for the second quarter. 
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
Related Link: <a href="https://www.benzinga.com/news/24/04/38376714/wall-streets-most-accurate-analysts-views-on-3-energy-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Energy Stocks With Over 3% Dividend Yields</a>
ENPH Price Action: <a href="https://www.benzinga.com/quote/ENPH">Enphase shares</a> were down 5.14% after hours at $107.65 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Shutterstock.

After-Hours Center

Movers

Tech

ENPH

Enphase Energy Q1 Earnings: Revenue, EPS Come In Below Estimates Amid 'Softening' US Demand

Guidance

Stride Sees FY24 Revenue $2.025B-$2.040B Vs $2.023B Est.

AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) reported quarterly earnings of $0.08 per share which beat the analyst consensus estimate of $(0.08) by 200 percent. The company reported quarterly sales of $8.083 million which beat the analyst consensus estimate of $8.035 million by 0.59 percent. This is a 4.00 percent increase over sales of $7.772 million the same period last year.

AudioEye Q1 2024 Adj EPS $0.08 Beats $(0.08) Estimate, Sales $8.083M Beat $8.035M Estimate

Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) reported quarterly earnings of $1.50 per share which beat the analyst consensus estimate of $1.37 by 9.49 percent. This is a 54.64 percent increase over earnings of $0.97 per share from the same period last year. The company reported quarterly sales of $1.358 billion which beat the analyst consensus estimate of $1.325 billion by 2.51 percent. This is a 14.50 percent increase over sales of $1.186 billion the same period last year.

WFRD

Weatherford International Q1 2024 GAAP EPS $1.50 Beats $1.37 Estimate, Sales $1.358B Beat $1.325B Estimate

Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) reported quarterly earnings of $1.60 per share which beat the analyst consensus estimate of $1.42 by 12.68 percent. The company reported quarterly sales of $520.800 million which beat the analyst consensus estimate of $507.180 million by 2.69 percent. This is a 10.74 percent increase over sales of $470.284 million the same period last year.

Stride Q3 2024 GAAP EPS $1.60 Beats $1.42 Estimate, Sales $520.800M Beat $507.180M Estimate

Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) reported quarterly earnings of $0.89 per share which met the analyst consensus estimate. This is a 9.18 percent decrease over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $211.275 million which beat the analyst consensus estimate of $206.784 million by 2.17 percent. This is a 0.69 percent decrease over sales of $212.752 million the same period last year.

Highwoods Props Q1 2024 FFO $0.89, Inline, Sales $211.275M Beat $206.784M Estimate

Western New England (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNEB#NASDAQ">WNEB</a>) reported quarterly earnings of $0.14 per share which beat the analyst consensus estimate of $0.12 by 16.67 percent. The company reported quarterly sales of $18.018 million which beat the analyst consensus estimate of $15.850 million by 13.68 percent. This is a 16.13 percent decrease over sales of $21.483 million the same period last year.

WNEB

Western New England Q1 2024 GAAP EPS $0.14 Beats $0.12 Estimate, Sales $18.018M Beat $15.850M Estimate

Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) shares were trading up 4.17% to $577.75 at market close Tuesday as the stock rebounds after its recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38339754/netflix-stock-sized-up-by-7-analysts-post-q1-results-pivot-from-a-high-growth-low-p">earnings report</a>.
The company last week reported a strong first quarter with revenue reaching $9.37 billion, up by 14.8% compared to the previous year, surpassing analyst expectations. Earnings per share stood at $5.28, beating estimates of $4.51. 
The streaming giant added 9.33 million paid subscribers, totaling 269.60 million, marking a 16.0% increase from the previous year. These figures exceeded the company&#8217;s own forecasts&#8230;<a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda">Read More</a>
<h1 class="wp-block-heading">Is NFLX A Good Stock To Buy?</h1>
Wall Street analysts viewed Netflix on the whole as an Outperform, given the history of coverage over the past three months. Macquarie&#8217;s Tim Nollen was the most optimistic, expecting a 45.12% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, a person can reference historical price action for views on whether investors feel strongly about the stock one way or another. 
In the past three months, Netflix rose 4.49%, which indicated opinion improved on the business and how attractive it was to own based on either its stock price or underlying fundamentals, such as revenue, which rose 14.8% over the past year.
A complete overview of how Wall Street views individual stocks is available <a href="https://www.benzinga.com/analyst-stock-ratings">here</a>, while real-time updates on the latest analyst actions are delivered via <a href="https://pro.benzinga.com">Benzinga PRO</a>. Try it for free.
Netflix has a 52-week high of $639 and a 52-week low of $315.62.
Photo: Shutterstock

Entertainment

NFLX

What's Going On With Netflix Shares?

Avangrid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGR#NYSE">AGR</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.68 by 29.41 percent. This is a 24.14 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $2.417 billion which missed the analyst consensus estimate of $2.537 billion by 4.75 percent. This is a 1.99 percent decrease over sales of $2.466 billion the same period last year.

Avangrid Q1 2024 Adj EPS $0.88 Beats $0.68 Estimate, Sales $2.417B Miss $2.537B Estimate

TCMD

Tactile Systems Technology Sees Prelim Q1 2024 Revenue ~$61M Vs $59.175M Est.

Former Dallas Fed President Robert Kaplan offered a stern critique of current U.S. fiscal policies, suggesting that they are hampering the Federal Reserve&#8217;s ability to lower interest rates <a href="https://www.benzinga.com/topic/inflation">amidst ongoing economic pressures.</a>
In exclusive interview with <a href="https://marketnews.com/rpt-mni-interview-kaplan-says-loose-fiscal-is-holding-up-cut">Market News</a> (MNI), Kaplan highlighted that the expansive fiscal measures, which include unspent funds from various acts like the ARPA, CHIPS, and the Infrastructure Act, have contributed to sustained inflation, particularly in the services sector, leaving the Fed in a position where rate cuts are not advisable in the near term.
<h3 class="wp-block-heading">Impact Of Loose Fiscal Spending</h3>
Kaplan stressed the contradiction between the Federal Reserve&#8217;s efforts to temper demand through tighter monetary policy and the government&#8217;s fiscal actions, which continue to stimulate demand. 
He expressed concerns over the potential economic consequences of these policies, including rising debt-to-GDP ratios and interest payments that could soon surpass national defense spending.
Kaplan suggested that the central bank might need to avoid lowering rates throughout this year, citing services inflation propped up by loose fiscal measures as a key concern.
&#8220;I would be kicking the can down the road and I would not be ready to cut rates until I saw more sustained improvement but I would also be keeping my options open,&#8221; Kaplan stated during the interview. 
&#8220;I would be prepared to consider that we might do a couple and I&#8217;d be prepared to do zero,&#8221; he said, reflecting on the possibilities of future rate adjustments.
According to Kaplan, the neutral short-term rate is likely elevated due to the robust and continuous economic boost from government spending. 
&#8220;Monetary policy is highly restrictive, however, fiscal policy is historically stimulative,&#8221; he noted, pointing out the discord between the Fed&#8217;s intentions and fiscal activities.
Kaplan expressed concerns over the economic sacrifices made to possibly achieve a soft landing. He underscored the rising national debt, anticipating that interest payments might soon eclipse defense expenditure. 
&#8220;We&#8217;re buying this soft landing,&#8221; Kaplan remarked. 
&#8220;These are the kinds of projects you would normally do after you had a recession, and we&#8217;re doing it pre-recession, and the cost of it is higher interest rates.&#8221;
Kaplan attributed the persistence of high services prices to the government&#8217;s spending spree, suggesting that &#8220;it&#8217;s going to remain sticky, as long as you&#8217;ve got the fiscal spigot pretty wide.&#8221;
<h3 class="wp-block-heading">The Cost Of A &#8216;Soft Landing&#8217;</h3>
The tension between fiscal and monetary policy is a critical point of contention for Kaplan, who fears that without a recalibration of fiscal spending, the U.S. could face prolonged high interest rates and a potentially destabilizing economic scenario. 
The International Monetary Fund has also flagged concerns, predicting a fiscal deficit of 7.1% by 2025 and signaling significant risks to the global economy due to the U.S.&#8217;s expansive fiscal deficit.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp">Is The US National Debt Unsustainable? &#8216;We Can&#8217;t Have A Deficit Of 7% Of The GDP&#8217;</a>
Kaplan advocated for a more comprehensive government strategy to combat inflation, which would involve scrutinizing all aspects of economic policies rather than just monetary adjustments. 
&#8220;It would be unfortunate if the answer is everything stays the same and so the Fed is left to either delay much longer or take action&#8221; and raise rates, he commented.
He also suggested that the Fed should better communicate how fiscal spending impacts economic dynamics, emphasizing that the elevated neutral rate is largely fueled by aggressive fiscal activities. 
Kaplan believes the real solution may involve either maintaining higher rates longer or moderating fiscal spending to balance economic growth.
Read now:<a href="https://www.benzinga.com/general/macro-notification/24/04/38325320/small-group-of-hedge-funds-wields-dominance-in-us-treasury-market-a-concentration-of-v"> Small Group Of Hedge Funds Wields Dominance In US Treasury Market: &#8216;A Concentration Of Vulnerability Has Built Up,&#8217; IMF Warns</a>
Image generated using artificial intelligence via Midjourney.

Market Summary

Treasuries

Econ #s

Federal Reserve

'We're Buying This Soft Landing': Former Fed Governor Blames Government Spending For Delaying Rate Cuts

Stock Split

Bakkt Holdings, Inc. Class A Common Stock

BKKT

Bakkt Announces 1-for-25 Reverse Stock Split, Expected To Begin Trading On Reverse Split-Adjusted Basis On April 29

Pyxis Tankers Inc. 7.75% CNV PFD A goes ex dividend tomorrow

Pyxis Tankers: Change In Strategic Direction Unlikely To Impress Investors

Pyxis Tankers Inc. 2023 Q3 - Results - Earnings Call Presentation

Pyxis Tankers Inc. (PXS) Q3 2023 Earnings Call Transcript

Pyxis Tankers: Buy On Strong Product Tanker Prospects And Discounted Valuation

Pyxis Tankers Inc. 7.75% CNV PFD A goes ex-dividend tomorrow

Pyxis Tankers Inc. 7.75% CNV PFD A goes ex dividend Monday

Pyxis Tankers: Bet On A Strong MR Product Tankers Market

Pyxis Tankers Inc. (PXS) Q4 2023 Earnings Call Transcript

PXSAP

PXSAW

STNG

TRMD

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