Streetbeat News

Earnings

OCFT

OneConnect Financial Tech (OCFT) reported Q4 earnings with losses of $(0.31) per share, surpassing the $(1.62) estimate, marking an 80.8% beat and a 53.58% improvement from last year. However, their sales of $128.31M fell short of the $142.69M estimate, a 10.08% miss and a 26.53% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:04 am

NIU

Niu Technologies (NASDAQ:NIU) reported a Q4 fiscal 2023 revenue decline of 21.8% to $67.42 million, with a net loss per ADS of $(0.23). Despite a slight decrease in e-scooter sales, international sales grew by 33.7%. The company anticipates a revenue increase of 5% to 15% in Q1 and aims for a 41% to 69% increase in sales volume for fiscal 2024. CEO Dr. Yan Li remains optimistic about regaining market favor in 2024, highlighting the success of new models like MQiL, RQi, and XQi3.

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 9:59 am

FOUR

LOGI

RILY

In Monday's pre-market session, Logitech International S.A. (LOGI) shares fell by 4.8% following the announcement of CFO Chuck Boynton's departure and a reaffirmation of its 2024 financial outlook. Other notable stocks experiencing declines include B. Riley Financial, Inc. (RILY), which dipped 11% due to its failure to file audited results, and Shift4 Payments, Inc. (FOUR), which dropped 9.1% after reports that bids from potential contenders undervalued the firm. Additional stocks mentioned with pre-market losses are Nanobiotix S.A. (NBTX), AlTi Global, Inc. (ALTI), Li Auto Inc. (LI), Geron Corporation (GERN), and Sibanye Stillwater Limited (SBSW).

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 9:57 am

ERJ

OCFT

SAIC

SST

STNE

XGN

Earnings reports for March 18, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Embraer, Science Applications Intl, and StoneCo are anticipated to report profits, while System1, Exagen, and OneConnect Financial Tech project losses. The diversity in performance highlights the varied economic conditions impacting different industries.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 9:57 am

NVDA

Nvidia Corp. is set to reveal its next-gen AI chip, the B100, at the GPU Technology Conference (GTC 2024), with expectations of significantly surpassing the performance of its predecessor, the Hopper H200 AI chip. The B100, featuring advanced TSMC CoWoS-L packaging technology and 192GB of memory, is anticipated to more than double the AI performance of Hopper GPUs. Demand for the B100 is expected to outstrip supply, indicating a major upcoming product cycle for Nvidia. The company's stock has seen a significant increase, gaining about 73% year to date.

Portfolio Pulse from Shanthi Rexaline

March 18, 2024 | 9:30 am

Qudian Inc. (NYSE:QD) reported a significant decrease in both earnings and sales for Q4, with earnings per share down 90% to $0.03 from $0.30 YoY, and sales down 61.29% to $8.98M from $23.21M YoY.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:02 am

HTZ

Hertz Global Holdings Inc (NASDAQ:HTZ) appointed Gil West, former COO of GM's autonomous driving unit Cruise, as its new CEO. West's appointment is part of Hertz's cost-cutting mission, which includes selling 20,000 electric vehicles due to high repair costs and replacing them with combustion engine cars. Hertz reported a Q4 adjusted EPS loss of $1.36, with revenue growing 7% year on year to $2.18 billion. GM reported a $3.48 billion operating loss at Cruise in 2023.

Portfolio Pulse from Anan Ashraf

March 18, 2024 | 8:43 am

ALTI

CMTL

SAIC

STNE

U.S. stock futures are trading higher, with focus on SAIC, CMTL, ALTI, STNE, and YY due to earnings reports. SAIC and CMTL are expected to report earnings before and after market close respectively, with SAIC anticipated to report $1.43 EPS on $1.64 billion revenue, and CMTL expected at 22 cents EPS on $152.85 million revenue. ALTI reported a Q4 loss of 87 cents per share, with sales at $91.71 million. STNE is projected to post earnings of 30 cents per share on $685.73 million revenue, while YY is expected to report 77 cents EPS on $558.30 million revenue.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 8:07 am

TSLA

Gary Black, Managing Partner at Future Fund, criticized personal attacks from Tesla fans after he trimmed his stake in Tesla, citing a 50% loss in the company's long-term earnings power. He maintains a $250 price target for Tesla, despite its recent slump. Ross Gerber, CEO of Gerber Kawasaki, also faced criticism but views the slump as a move towards a more reasonable valuation. Both emphasize analysis over hype in valuation.

Portfolio Pulse from Anan Ashraf

March 18, 2024 | 7:35 am

ASML

AVGO

BIDU

MCK

SYK

UBS has identified key sectors poised for technological innovation, including AI, cybersecurity, health tech, Greentech, and fintech, and listed 29 companies expected to see superior earnings growth. Among these, McKesson Corp, Baidu, Stryker, ASML Holding, and Broadcom were highlighted for their potential in their respective fields. The report suggests these sectors and companies are likely to be industry leaders by 2030.

Portfolio Pulse from Benzinga Neuro

March 18, 2024 | 7:14 am