Streetbeat News

Earnings

AAPL

On Steve Jobs' birthday, a reflection on the impact of the iPhone's unveiling in 2007 reveals a $1,000 investment in Apple stock then would be worth $54,000.37 today, marking a 5,300% return. Jobs' legacy continues as Apple dominates the smartphone market in 2023.

Portfolio Pulse from Chris Katje

February 24, 2024 | 1:10 pm

AMZN

GOOG

MSFT

NVDA

Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang, in an interview with Wired, acknowledged the intense competition in the AI industry from major tech companies like Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), and Alphabet Inc.'s Google (NASDAQ:GOOG), among others. Despite this, Huang remains confident in Nvidia's leadership in AI, highlighting its 70% market share and the company's potential to become the first semiconductor firm with a $2 trillion valuation. Huang's optimism is supported by Nvidia's strong position in AI supercomputers and its $1 billion annualized revenue run rate in software and services.

Portfolio Pulse from Rounak Jain

February 24, 2024 | 8:25 am

Jim Cramer expressed mixed feelings about Block Inc. (NYSE:SQ) after its Q4 earnings beat, initially praising the company's performance but later criticizing the fervent buying activity. Block reported Q4 revenue of $5.77 billion, surpassing expectations and closing over 15% up on Friday. Cramer set a $100 price target for Block, despite his critique of the buying frenzy. Analysts, including JPMorgan's Tien-tsin Huang, remain bullish, highlighting Cash App's momentum and Block's focus on AI efficiency.

Portfolio Pulse from Rounak Jain

February 24, 2024 | 4:47 am

BHP

HCC

RBC Capital analysts lowered their price target for Warrior Met Coal (NYSE:HCC) from $74 to $64 due to increased development costs at the Blue Creek mine, which were significantly higher than expected. The company plans to spend $335 million to $390 million this year on the mine and other expenditures, a 32% increase over RBC's forecast and 24% above consensus. Despite these higher costs, Warrior Met Coal's Q4 net income rose, supported by higher production, sales, and prices for steelmaking coal. The Blue Creek mine, set to begin operations in 2026, is one of the largest untouched metallurgical coal reserves in North America.

Portfolio Pulse from Matt Whittaker

February 23, 2024 | 10:17 pm

CCTG

CCSC Technology International reported a significant decrease in its H1 2024 earnings per share (EPS) to $0.04 from $0.28 year-over-year (YoY). Revenue also saw a sharp decline to $7.5 million from $15.6 million YoY.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:46 pm

BTCM

BIT Mining (NYSE:BTCM) reported a Q4 2023 adjusted EPS of $(0.39) and sales of $10.40M, missing the analyst consensus estimate of $77.30M by 86.55%. This represents an 82.96% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:45 pm

GHC

Graham Holdings (GHC) reported Q4 2023 adjusted EPS of $10.94, missing the consensus estimate of $12.53 by 12.69%. Quarterly sales were $1.17B, in line with estimates, marking a 9.58% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:36 pm

ARKK

NVDA

SARK

TARK

Nvidia (NVDA) experienced a historic surge, adding $273 billion in value in a single day, becoming the 4th largest company globally. This surge followed an earnings call where Nvidia beat revenue and earnings expectations, with optimistic forecasts for the next quarter. Cathie Wood of ARK Innovation ETF (ARKK) sold her Nvidia shares in January 2023, believing Nvidia to be overvalued and preferring smaller AI stocks. Wood's current preferences include UiPath (PATH) and Twilio (TWLO). For bullish traders on ARKK, the AXS 2X Innovation ETF (TARK) offers double the daily return of ARKK, while the AXS Short Innovation Daily ETF (SARK) provides an option for bears, aiming for inverse performance of ARKK.

Portfolio Pulse from Johnny Rice

February 23, 2024 | 9:32 pm

CABO

DUO

SSP

In Friday's after-market session, several communication services stocks saw significant movements. E W Scripps and Cable One reported Q4 earnings, leading to a 5.1% and 3.15% increase in their stock prices, respectively. Other gainers included VS Media Holdings, Super League Enterprise, Iridium Comms, and FaZe Hldgs. Conversely, Fangdd Network Group, Chicken Soup for the Soul, Kartoon Studios, EverQuote, BuzzFeed, and Zedge experienced declines, with Fangdd Network Group leading the losses at 9%.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 9:31 pm

AMD

LCID

NVDA

PANW

RIVN

Nvidia Corp. (NASDAQ:NVDA) reported exceptional earnings, driving its stock and the broader market to record highs. The company's AI division's success, with a 70% market share in AI chips, positions Nvidia as a leader in the emerging 'AI factories' sector. Other companies and ETFs related to Nvidia and tech, such as C3.ai (NASDAQ:AI) and Advanced Micro Devices Inc. (NASDAQ:AMD), are also set to benefit. Meanwhile, the Federal Reserve's cautious stance on rate cuts and expanded sanctions against Russia mark significant economic developments. Additionally, notable mentions include Palo Alto Networks Inc. (NASDAQ:PANW) facing challenges due to strategic shifts, and Elon Musk's skepticism towards Lucid Group Inc. (NASDAQ:LCID) and Rivian Automotive Inc. (NASDAQ:RIVN) in the EV market.

Portfolio Pulse from Piero Cingari

February 23, 2024 | 9:05 pm