Streetbeat News

Earnings

GE

During Investor Day, GE Aerospace's CFO emphasized cost reduction as the top priority, aiming to counteract the 9x engine headwind through volume, price, and productivity improvements. The CFO also projected that by 2028, Leap engines will achieve CFM-level profitability. Additionally, GE plans to utilize its $15B share buyback authorization over the next three years.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:58 pm

GE

During the Investor Day, GE Aerospace's CFO announced expectations for the company to become price-cost positive in 2024, with the Leap program turning profitable next year. The 9x engine is anticipated to remain a challenge, while inflation headwinds are expected to ease by 2025. The company has planned for mid-single digit price increases next year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:57 pm

PEPG

PepGen (NASDAQ:PEPG) reported its Q4 2023 earnings with a GAAP EPS of $(0.810), surpassing the analyst consensus estimate of $(1.010) by 19.8%. This indicates a better-than-expected financial performance for the quarter.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:55 pm

CIEN

Ciena has revised its fiscal 2024 revenue expectations to a range of $4B-$4.3B, a decrease from its previous forecast of 1%-4% growth, which would have implied a revenue estimate of around $4.5B.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:49 pm

EHAB

Enhabit's shares surged following the announcement of Q4 financial results that exceeded expectations and the issuance of FY24 revenue guidance surpassing estimates. Additionally, UBS upgraded Enhabit's stock from Sell to Neutral and set a price target of $9.5.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:47 pm

MEI

Methode Electronics shares dropped following disappointing Q3 financial results and the suspension of future guidance.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:45 pm

ML

MoneyLion shares surged following the announcement of better-than-expected Q4 revenue results and positive Q1 guidance.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:42 pm

UP

Wheels Up Experience reported worse-than-expected Q4 revenue results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:40 pm

KR

A Kroger executive stated during a conference call that the first quarter will be the most challenging period for sales growth.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:38 pm

FCEL

FuelCell Energy Inc (NASDAQ:FCEL) reported a significant revenue decline of 55% YoY in Q1 fiscal 2024, with revenues falling to $16.69 million, missing the consensus estimate of $23.82 million. The company experienced a gross loss of $11.7 million, a stark contrast to the previous year's gross profit of $5.2 million, and an expanded operating loss of $42.5 million. Despite these challenges, FCEL maintains a positive outlook, citing an increase in operational generation assets and expected product sales. The company's backlog decreased slightly to $1.03 billion, and shares dropped by 6.6% to $1.14.

Portfolio Pulse from Akanksha Bakshi

March 07, 2024 | 3:38 pm