Streetbeat News

Earnings

FDIV

RTH

TGT

WMT

Target Corp (NYSE:TGT) is reportedly set to double the bonuses for its salaried employees for 2023, paying out 100% of eligible bonuses, up from 50% the previous year. This move, reported by Bloomberg, showcases Target's financial strength despite facing challenges in 2022 with inflation and sales declines. The company has seen positive developments recently, including better-than-expected fourth-quarter FY23 earnings and the introduction of a paid membership program. Shares of Target have risen nearly 20% year to date. Competitor Walmart Inc (NYSE:WMT) also made headlines with a stock split and increased compensation for store managers. Investors can gain exposure to Target through VanEck Retail ETF (NASDAQ:RTH) and MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV).

Portfolio Pulse from Shivani Kumaresan

March 21, 2024 | 4:43 pm

AVGO

GOOG

GOOGL

META

NVDA

Broadcom Inc (NASDAQ:AVGO) hosted an 'Enabling AI Infrastructure Investor Meeting', projecting AI chip sales to exceed $10 billion in fiscal 2024. Analysts from BofA Securities, JPMorgan, Benchmark, Goldman Sachs, and Rosenblatt Securities reiterated Buy ratings with price targets ranging from $1,276 to $1,720. The event highlighted Broadcom's leadership in high-speed switches Ethernet and its expanding AI accelerator (XPU) business, with a third custom ASIC accelerator customer potentially being ByteDance. Broadcom's AI silicon is expected to account for 35% of 2024 revenues. Shares of Broadcom rose by 8.71% to $1,386.70.

Portfolio Pulse from Priya Nigam

March 21, 2024 | 4:35 pm

PYXS

Pyxis Oncology's shares are trading lower following the announcement of their FY23 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:26 pm

NXTC

NextCure shares surged following the announcement of an increase in its FY23 EPS results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:21 pm

LUNR

Intuitive Machines, Inc. (NASDAQ:LUNR) reported Q4 sales of $30.56 million, surpassing analyst estimates by 37.66%. The company achieved a significant milestone with the United States' first lunar landing in over 50 years, earning $12.5 million in mission completion payments. CEO Steve Altemus highlighted the mission's impact on lunar economics and program costs. Analysts have a bullish outlook on LUNR, with an average 1-year price target of $12.40, indicating a potential upside of 126.48%.

Portfolio Pulse from Erica Kollmann

March 21, 2024 | 4:13 pm

CHWY

Chewy Inc (NYSE:CHWY) reported Q4 financial results, with analysts providing mixed reactions. While the pet care sector faces challenges, including a 30% year-over-year decline in pet adoptions and inflation concerns, Chewy is seen as gaining market share and expanding margins. Analysts from Wedbush, JPMorgan, Goldman Sachs, and Needham provided insights, with some adjusting their price targets. Despite the sector's challenges, Chewy's efforts in health, autoship, and international expansion are highlighted as growth opportunities.

Portfolio Pulse from Chris Katje

March 21, 2024 | 4:13 pm

SOFI

SoFi Technologies Inc's CEO Anthony Noto discussed on CNBC's 'Mad Money' the company's strategies for financial growth, including achieving GAAP profitability by 2024, expanding its tech platform, cautiously managing its personal loan business, refinancing debt to save $40-$60 million annually, and conducting a convertible note sale to improve financial position and stock momentum.

Portfolio Pulse from Surbhi Jain

March 21, 2024 | 4:11 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) shares are trading higher, driven by a rise in Bitcoin prices and increased demand following the approval of spot bitcoin ETFs. Despite recent outflows from these ETFs, Bitcoin and Coinbase stocks are recovering, with Coinbase benefiting from the volatility in crypto markets. The company reported strong Q4 financial results, with transaction revenues up 83% QoQ. Analysts expect earnings of 48 cents per share on revenue of $1.104 billion in the next report. Coinbase's stock has significantly outperformed its historical averages this year.

Portfolio Pulse from Adam Eckert

March 21, 2024 | 4:10 pm

APYX

CURI

MVLA

SPIR

YTEN

U.S. stocks traded higher with the Nasdaq Composite gaining around 100 points. Micron Technology reported upbeat Q2 results and strong Q3 guidance, beating estimates with $5.82 billion in revenue and adjusted earnings of 42 cents per share. Yield10 Bioscience, CuriosityStream, and Lufax Holding saw significant stock increases following positive announcements, while Movella Holdings, Apyx Medical, and Spire Global experienced declines. Gold and silver prices rose, while oil and copper saw minimal changes.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 4:09 pm

XFOR

X4 Pharmaceuticals shares surged following the announcement of better-than-expected Q4 EPS results.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:08 pm