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HTGC

Hercules Capital reported significant growth in its Q4 and FY23 financial results, with record increases in total investment income and net investment income. Q4 investment income rose to $122.6M, a 22.4% increase YOY, and net investment income reached $86M, up 38.5% YOY. FY23 saw total investment income of $460.7M and net investment income of $304M, marking increases of 43.2% and 61.7% YOY, respectively. The company also announced a new supplemental cash distribution for 2024 of $0.32 per share and reported over $1.0 billion in available liquidity and $4.2 billion in assets under management.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:45 pm

NOG

Northern Oil and Gas (NOG) provided preliminary production and capital expenditure guidance for 2024, forecasting full-year production between 115,000 – 120,000 boe per day, with oil production estimated at 70,000 – 73,000 bbl per day. The company plans to budget approximately $825 – $900 million in total capital expenditures, focusing on drilling, completion, acquisitions, and workover expenses. The budget allocation includes 50% for the Permian Basin, 35% for the Williston Basin, and 1% for the Appalachian Basin. NOG expects a slight decline in quarterly production in Q1 2024, with modest increases thereafter. The company also anticipates steady activity in the Williston and other assets, with reduced Appalachian natural gas activity due to lower prices.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:44 pm

NOG

Northern Oil and Gas, Inc. (NOG) provided a Q4 2023 operations update and preliminary 2024 guidance, highlighting a 20% year-over-year growth in production. Q4 production was estimated at 114.4 Mboe per day, with annual production at the high end of guidance. The company executed $25 million in Ground Game acquisitions in Q4 and anticipates a slight decrease in Q1 2024 production volumes due to weather disruptions and planned curtailments. NOG expects strong returns from its acquisitions, with cash flow contributions mainly in 2024.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:44 pm

GDX

NEM

RING

Value investors are targeting mining stocks, particularly gold miners like Newmont Corp (NYSE:NEM), due to a significant market dislocation. Taylor McKenna of Kopernik Global Investors highlighted the gap between metal prices and mining company valuations, noting gold stocks are at a 50-80% discount despite rising gold prices. Newmont Corp's stock has dropped 60% from last year, despite gold's 10% price increase. McKenna views this as an undervaluation, especially after Newmont's acquisition of Newcrest Mining. ETFs holding Newmont Corp include iShares MSCI Global Gold Miners ETF (NYSE:RING), VanEck Gold Miners ETF (NYSE:GDX), and others, indicating a broader market impact.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 9:38 pm

WEST

Westrock Coffee Company (NASDAQ:WEST) announced several business developments including the expansion of its Extract and RTD facility in Conway, Arkansas, a joint venture with Select Milk Producers for a new facility in Texas, and the issuance of $72 million in convertible senior unsecured notes to fund these expansions. The company also provided an update on its FY23 preliminary results, expecting Adjusted EBITDA to be near the lower end of its $45M-$50M guidance range, and shared its initial outlook for 2024.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:38 pm

HOOD

Robinhood Markets reported a 2% increase in total cash sweep balances at the end of January to $16.8 billion, up from the end of December 2023. Additionally, their total securities lending revenue in January remained steady at $12 million, unchanged from December 2023.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:35 pm

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) reported its January 2024 operating data, showing a slight increase in funded customers to 23.5 million and assets under custody remaining stable at $102.4 billion. Net deposits saw a 44% annualized growth rate, with trading volumes increasing for options but decreasing for equities and crypto. Margin balances and total cash sweep balances also saw modest increases.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:34 pm

GE

Over the past 5 years, General Electric (NYSE:GE) has outperformed the market with an annualized return of 19.54%, turning a $1000 investment into $2,440.76. GE's market capitalization stands at $161.72 billion.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 9:31 pm

ANGO

AngioDynamics, Inc. (ANGO) has sold its PICC and Midline product portfolios to Spectrum Vascular for up to $45 million in cash. This sale is part of AngioDynamics' strategy to optimize its product portfolio and focus on high-growth markets. The divested products contributed approximately $43.5 million in annual sales. Additionally, AngioDynamics has discontinued its radiofrequency ablation and Syntrax products, which contributed about $5.5 million in annual sales. The company expects the divestiture and discontinuations to be accretive to fiscal 2024 gross margin but slightly dilutive to adjusted earnings per share. AngioDynamics will provide updated fiscal 2024 guidance in its upcoming earnings call.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:30 pm

ROKU

Roku, Inc. (NASDAQ:ROKU) has surpassed significant milestones, reaching over 80 million active accounts and more than 100 billion streaming hours in 2023. The company's active account base in the U.S. now exceeds the combined subscribers of the six largest traditional pay-TV providers. Roku also launched its own line of TVs and expanded its TV licensing program. These achievements underscore Roku's position as a leading TV streaming platform, with the highest streaming hours in the U.S. and Mexico and the top-selling TV operating system in the U.S., Canada, and Mexico in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:27 pm