Streetbeat News

Earnings

ARKQ

ARKX

IRDM

Iridium Communications Inc (NASDAQ:IRDM) shares surged 10% after reporting Q1 earnings of 16 cents per share, surpassing Wall Street's estimate of 15 cents, and revenues of $203.85 million, beating the consensus of $193.75 million. The growth was attributed to strong service revenue and subscriber expansion, with total billable subscribers increasing 14% year-over-year. Operational EBITDA rose to $115.0 million, and the company reiterated its full-year 2024 service revenue growth forecast of 4%-6%. IRDM is also featured in ARK Space Exploration & Innovation ETF (BATS:ARKX) and ARK Autonomous Technology & Robotics ETF (BATS:ARKQ).

Portfolio Pulse from Nabaparna Bhattacharya

April 18, 2024 | 1:57 pm

AMZN

GOOG

META

MSFT

Big Tech companies including Meta Platforms (META), Alphabet (GOOG/GOOGL), Amazon.com Inc (AMZN), and Microsoft Corporation (MSFT) are set to release their earnings reports, offering insights into their financial health and the impact of generative AI development. Meta reported a 25% revenue increase in Q4, Alphabet's net income surged 52%, Amazon crushed estimates with record holiday sales, and Microsoft's revenue grew 18% in its fiscal second quarter. These reports will not only highlight the companies' performances but also provide a glimpse into the tech industry's direction and the unfolding AI era.

Portfolio Pulse from Upwallstreet

April 18, 2024 | 1:52 pm

STLA

VWAGY

XPEV

European passenger-car sales fell 2.8% in March, with BEV sales down 11.3%. Volkswagen and Stellantis NV reported significant drops in EV registrations, attributing the decline to reduced subsidies and high interest rates. Volkswagen's EV sales in Europe fell 24.3%, while Stellantis experienced a 12.6% decrease in registrations. Both companies anticipate a challenging 2024, with Volkswagen partnering with XPeng Inc to boost EV sales. The trend suggests European automakers need a new strategy to compete, especially against Chinese firms expanding in Europe.

Portfolio Pulse from Upwallstreet

April 18, 2024 | 1:52 pm

MMC

Marsh & McLennan's shares saw an increase after the company reported Q1 earnings that surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:51 pm

UNH

UnitedHealth shares are trading higher due to continued strength following the company's positive Q1 earnings report released on Tuesday.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:50 pm

UAL

United Airlines Holdings Inc (UAL) will receive compensation from Boeing Co (BA) for Q1 financial losses due to the grounding of 737 MAX 9 aircraft. The compensation includes credit memos for future purchases, which will be accounted as a reduction to the cost basis of the aircraft. United's Q1 earnings were impacted by approximately $200 million from the grounding, but 78 of 79 aircraft have since returned to service. Boeing's reputation has been damaged by the incident, affecting its management and production.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 1:48 pm

LVS

Las Vegas Sands Corp. (NYSE:LVS) reported Q1 financial results surpassing analyst expectations with adjusted earnings of 75 cents per share and quarterly sales of $2.96 billion, marking significant year-over-year growth. Despite positive results, shares fell 7.2% following the announcement. Analysts from JP Morgan, Wells Fargo, and Mizuho adjusted their price targets downwards while maintaining positive ratings.

Portfolio Pulse from Priya Nigam

April 18, 2024 | 1:38 pm

CAN

Canaan Inc (NASDAQ:CAN) shares dropped after announcing a mixed securities shelf offering of up to $300 million, which may include various types of securities. The company, specializing in ASIC high-performance computing chip design and crypto mining, particularly bitcoin, had $96 million in cash by the end of 2023. Its next earnings report is expected at the end of May, with analysts predicting a loss and specific revenue figures.

Portfolio Pulse from Adam Eckert

April 18, 2024 | 1:32 pm

CCI

Crown Castle Inc. (NYSE:CCI) reported Q1 sales of $1.64 billion, slightly above expectations, and maintained its 2024 AFFO per share outlook of $6.85 to $6.97. Despite positive results, shares fell 1% after analysts from BMO Capital and Scotiabank lowered their price targets on CCI following the earnings announcement.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:30 pm

ETN

FTI

MARA

SMR

VRT

XOM

Jim Cramer recommends buying Ethereum or Bitcoin over Marathon Digital Holdings, citing a preference for cryptocurrency. He also commented on Exxon Mobil's 'parabolic move' and suggested buying Vertiv or Eaton for investments related to data centers. Additionally, NuScale Power's Q4 sales missed estimates, and Exxon Mobil awarded a contract to TechnipFMC for the Whiptail project in Guyana.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:25 pm