Streetbeat News

Earnings

BLMN

Bloomin' Brands, Inc. (NASDAQ:BLMN) is set to announce its Q4 earnings on Feb. 23, 2024, with analysts forecasting a slight increase in earnings per share and revenue compared to the previous year. The company recently entered a cooperation agreement with Starboard Value LP, leading to the appointment of Dave George and Jon Sagal to its Board of Directors. Analysts have provided mixed ratings and price targets for BLMN, reflecting varied expectations for the company's financial performance.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 6:47 am

PBA

Pembina Pipeline (NYSE:PBA) reported Q4 earnings of $0.89 per share, surpassing the $0.63 estimate, marking a 206.9% increase from last year. However, their Q4 sales of $1.81B fell short of the $1.87B estimate, a 9.81% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:47 am

RIVN

TSLA

Elon Musk, CEO of Tesla, warned that Rivian Automotive's executive team needs to significantly cut costs and spend more time in the factory to avoid bankruptcy. Musk's comments follow his previous statement about Rivian's potential bankruptcy in six quarters. Despite acknowledging Rivian's product design, he highlighted the challenges of volume production and positive cash flow. Rivian reported a Q4 revenue of $1.3 billion, a net loss of $1.52 billion, and ended the quarter with $10.47 billion in total liquidity.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 6:44 am

VFS

VinFast Auto (NASDAQ:VFS) CEO Le Thi Thu Thuy highlighted the company's unique battery leasing policy as a competitive advantage in the EV market. The policy allows customers to lease the battery separately, reducing the upfront cost of EVs and making them more affordable. Thuy claims this approach makes the monthly costs of owning a VinFast vehicle competitive with, or even lower than, those of gas-powered vehicles. The company, which began U.S. deliveries in March 2023, reported a Q4 EPS loss of $(0.28), wider than expected, and quarterly sales of $436.5 million. VinFast shares closed down 3.4% at $5.08.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 6:12 am

NVDA

Nvidia's recent earnings report has sparked optimism in the U.S. stock market, with JPMorgan traders suggesting it could reignite bullish sentiment. The report, highlighting Nvidia's success in artificial intelligence, led to significant gains in the S&P 500 and Nasdaq 100 indexes. This positive outcome aligns with JPMorgan's prediction that Nvidia's performance could overshadow concerns about Federal Reserve interest rate cuts, potentially leading to a decoupling of stocks and yields. Nvidia's market cap approached $2 trillion, underscoring the company's growing influence and the market's confidence in its long-term potential.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 5:16 am

SQ

Block Inc. (NASDAQ:SQ) reported a significant profit from its Bitcoin investments, largely driven by sales through its Cash App. In Q4 2023, Block's Bitcoin sales reached $2.52 billion, a 37% increase year-over-year, resulting in a gross profit of $66 million, up 90% from the previous year. The company's strategic Bitcoin purchases in late 2020 and early 2021 have led to a current estimated profit of $207 million. The Cash App generated $205 million in Bitcoin profits in 2023, with total Bitcoin revenue of $9.50 billion. Block's overall revenues for the fiscal year increased by 33.54%, reversing a previous downward trend. Following the earnings report, Block's stock price surged 20% to $52 per share, and after-hours trading saw a further 13% increase to $76.95.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 4:09 am

CVNA

LUNR

NVDA

SQ

TSLA

Intuitive Machines, Carvana, Block, Nvidia, and Tesla were among the top stocks on investors' radars, with significant movements in their stock prices. Intuitive Machines' stock soared in after-hours trading following a successful moon landing. Carvana reported growth despite missing Q4 estimates. Block's Q4 results beat expectations with a focus on growth and cost reduction. Nvidia's market cap surged after an earnings report that exceeded expectations. Tesla saw a modest gain, with investor Gary Black maintaining a bullish outlook despite acknowledging past misjudgments.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 4:08 am

NVDA

Jim Cramer praised Nvidia's success, attributing it to the company's innovative AI technology and urging investors to believe in stocks like Nvidia that defy conventional wisdom. Nvidia's recent earnings exceeded expectations, driven by high demand for AI products. Cramer compared Nvidia's CEO, Jensen Huang, to Tesla's Elon Musk, highlighting Huang's visionary approach.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 2:47 am

BWMX

Betterware de Mexico SAPI (NASDAQ:BWMX) reported Q4 earnings of $0.62 per share, surpassing the $0.28 estimate, marking a 121.43% beat and a 113.79% increase from last year. Q4 sales reached $193.94M, exceeding the $179.65M estimate by 7.95% and showing a 17.96% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 11:08 pm

NU

Nu Holdings reported Q4 earnings of $0.07 per share, missing the $0.08 estimate, but its sales of $2.40B exceeded the $2.22B estimate. This represents a 270% increase in earnings and a 65.75% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 10:37 pm