Streetbeat News

Earnings

KGRN

NIO

PGJ

XPEV

Shares of Chinese EV manufacturers XPeng Inc. (XPEV) and NIO Inc. (NIO) are trading lower in the premarket session on Tuesday. XPeng reported a 99% monthly and 29% yearly increase in Smart EV deliveries for March 2024, with a total of 21,821 vehicles delivered in Q1 2024. NIO's March deliveries rose 14.3% year-over-year, with a total of 11,866 vehicles. Despite these positive delivery reports, XPEV and NIO stocks have lost over 29% and 52% in the past year, respectively. Investors can also gain exposure to NIO through ETFs like KraneShares MSCI China Clean Technology Index ETF (KGRN) and Invesco Golden Dragon China ETF (PGJ).

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 1:18 pm

RIVN

TSLA

Tesla, Inc. (TSLA) reported a year-over-year decline in Q1 deliveries and production, missing analyst estimates and sending its stock lower in premarket trading. Despite this, Tesla reclaimed its position as the world's leading battery electric vehicle manufacturer by volume. Rival Rivian Automotive, Inc. (RIVN) also reported its Q1 deliveries. Tesla's price cuts failed to significantly boost sales, and the company faces headwinds in Europe and potential supply disruptions in the U.S. Tesla's Q1 earnings report is anticipated on April 23, with investors looking for updates on a sub-$30,000 electric vehicle and the Full Self-Driving software rollout.

Portfolio Pulse from Shanthi Rexaline

April 02, 2024 | 1:18 pm

MVST

Microvast Holdings' stock is trading lower following the company's announcement of weak guidance for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:15 pm

CLRO

ClearOne (NASDAQ:CLRO) reported a Q4 EPS of $(0.05), improving from $(0.09) YoY, with sales increasing to $4.15M from $4.02M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:11 pm

TSLA

Tesla reported a decline in volumes, attributing it partially to the early phase of the production ramp of the updated Model 3 at its Fremont factory. Additionally, factory shutdowns were caused by shipping diversions due to the Red Sea conflict and an arson attack at Gigafactory Berlin.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:06 pm

TSLA

Tesla announced its Q1 performance, reporting the production of over 433,000 vehicles and the delivery of approximately 387,000 vehicles. Additionally, the company deployed 4,053 MWh of energy storage during the quarter.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:05 pm

HLT

SLB

WYNN

Wynn Resorts, Hilton Worldwide, and Schlumberger were featured on CNBC's 'Halftime Report Final Trades'. Wynn Resorts reported Q4 earnings surpassing estimates with a significant sales increase. Hilton Worldwide is anticipated to report strong Q1 2024 earnings. Schlumberger announced a major deal to merge its carbon capture division, owning 80% of the combined business post-transaction. The stocks of Wynn Resorts and Schlumberger saw gains, while Hilton Worldwide experienced a slight decline.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 1:05 pm

ESEA

Euroseas Ltd. (NASDAQ:ESEA) announced a one-year time charter contract for its containership, M/V Synergy Antwerp, at a daily rate of $26,500, starting April 2, 2024. The ship underwent retrofits, including energy-saving devices, expected to reduce CO2 emissions by 9,800 metric tons annually. These upgrades are part of Euroseas' efforts to modernize its fleet and reduce its carbon footprint. The charter is expected to contribute about $6.5 million of EBITDA and increases Euroseas' 2024 charter coverage to 80%.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:03 pm

EL

Estee Lauder Cos (NYSE:EL) has been evaluated by 12 analysts over the last three months, showing a diverse range of opinions. Recent updates include raised price targets and ratings, with an average 12-month price target of $160.17, marking a 17.0% increase from the previous average of $136.90. The company is a leader in the global prestige beauty market but faces challenges with a -7.38% revenue growth decline over 3 months. Despite this, it maintains strong profitability metrics.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 1:00 pm

VEEV

20 analysts have recently reviewed Veeva Systems (NYSE:VEEV), showing a mix of bullish and bearish sentiments. The average 12-month price target is now $243.5, up from $219.00, indicating an 11.19% increase. Analysts' ratings range from 'Buy' to 'Underweight', with several maintaining their previous ratings and others raising their price targets. Veeva Systems, a leading provider of cloud-based solutions for the life sciences industry, has shown strong financial performance with a revenue growth rate of 11.93%, a net margin of 23.37%, and an ROE of 3.27%.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 1:00 pm