Streetbeat News

Earnings

STVN

Stevanato Group's shares dropped following the announcement of their Q4 financial results and FY24 guidance, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:36 pm

KGS

Kodiak Gas Services' shares dropped following the announcement of disappointing Q4 earnings per share (EPS) results and less optimistic fiscal year 2024 guidance.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:34 pm

AFCG

AFC Gamma Inc. (NASDAQ:AFCG) reported a 41% year-over-year drop in net income for fiscal year 2023, with net interest income falling to $64.2 million from $74.7 million in 2022. The company also announced a shift towards becoming a pure-play cannabis lender by 2024. Despite a challenging cannabis market, AFC Gamma distributed $40.9 million in dividends for 2023 and declared a $0.48 per share dividend for Q1 2024. The company's shares slightly declined by 0.09% to $11.38.

Portfolio Pulse from Jelena Martinovic

March 07, 2024 | 3:29 pm

KR

A Kroger executive highlighted in a conference call that Q4 marked the company's fifth consecutive quarter of sequential improvement in units, indicating ongoing positive momentum in its operations.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:28 pm

AEO

American Eagle Outfitters, Inc. (NYSE:AEO) shares rose after reporting Q4 earnings that exceeded analyst expectations. The company announced adjusted earnings per share of 61 cents, surpassing the consensus of 50 cents, and revenues of $1.679 billion, beating the expected $1.66 billion. Sales increased by 12% year over year, with store revenue up 10% and digital revenue up 19%. The company also reported a quarterly adjusted gross profit of $626 million, a 23% increase, and a gross margin rate improvement of 340 basis points. Looking ahead, American Eagle expects FY24 revenue growth of 2%-4% and operating income of $445 million-$465 million, with first-quarter operating income projected at $65 million-$70 million.

Portfolio Pulse from Nabaparna Bhattacharya

March 07, 2024 | 3:26 pm

GE

GE shares are trading higher following the GE Aerospace division's presentation of guidance and a long-term financial outlook at its investor day.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:23 pm

AEO

BURL

KR

American Eagle Outfitters reported better-than-expected Q4 earnings, leading to a 5.4% stock increase. Other companies like MoneyLion, CompoSecure, Rush Street Interactive, and more also saw significant gains following positive financial results or guidance. Notable movers include Burlington Stores and Kroger with strong quarterly results and future EPS guidance.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 3:23 pm

ADP

SPY

The Bureau of Labor Statistics (BLS) is set to release the February jobs report, with economists predicting an addition of 200,000 non-farm payrolls and an unemployment rate holding at 3.7%. The ADP report showed weaker-than-expected private employment growth, adding 140,000 jobs versus the 150,000 forecasted. JPMorgan, Comerica, Wells Fargo, and ING Group provided varied forecasts, generally expecting a slowdown from January's growth. The labor market's performance could influence interest rate expectations, with traders currently anticipating four rate cuts by year-end. The SPDR S&P 500 ETF Trust (SPY) is trading near all-time highs.

Portfolio Pulse from Piero Cingari

March 07, 2024 | 3:22 pm

KR

Kroger's CEO announced expectations of over 20% growth in its retail media business for 2024. The personal finance segment showed mixed results in 2023, with an increase in bad debt in the credit card business. Efforts are underway to convert non-pharmacy customers through enhanced marketing and in-store engagement.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:22 pm

MAT

During Mattel's Investor Day, CEO expressed optimism for the toy industry beyond 2024, citing an increase in movies heading to theaters as a positive growth factor.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:20 pm