Streetbeat News

Earnings

TME

Tencent Music Enter Gr (NYSE:TME) reported its Q4 earnings on March 19, 2024, with an EPS of $0.14, meeting the estimate but with a revenue decrease of $106M from the previous year. Despite missing EPS estimates in the past, such occurrences were followed by share price increases.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 10:00 am

CSL

Carlisle Companies Inc (NYSE:CSL) has agreed to acquire MTL Holdings, which includes brands Metal-Era and Hickman, from GreyLion Partners for $410 million in cash. The acquisition aligns with Carlisle's Vision 2030 strategy and is expected to be $0.60 accretive to adjusted EPS in the first full fiscal year post-acquisition. MTL, known for its pre-fabricated edge metal products, generated $132 million in revenue for the twelve months ending February 29, 2024. The deal is expected to close in Q2 2024, with Carlisle anticipating $13 million in cost synergies within the first three years.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 9:50 am

TME

Tencent Music Entertainment Group (TME) reported Q4 adjusted EPS of $0.14, meeting consensus estimates, and sales of $971M, beating estimates of $931.97M. This represents a 7.69% increase in EPS and a 9.84% decrease in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:08 am

CAL

CNM

CTRN

NCMI

YY

U.S. stock futures are trading lower, with focus on Core & Main, JOYY Inc., Caleres, National CineMedia, and Citi Trends due to earnings reports and corporate actions. Core & Main is expected to report earnings with a slight decrease in after-hours trading. JOYY Inc. reported strong Q4 earnings but forecasts Q1 revenues below market estimates, yet shares increased. Caleres is anticipated to report earnings with a slight rise in after-hours trading. National CineMedia reported upbeat Q4 results and announced a $100 million share repurchase program, leading to a significant share price increase. Citi Trends is expected to report earnings, with a decrease in after-hours trading.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 8:12 am

AAPL

CAL

CTRN

GOOG

GOOGL

SAIC

U.S. stocks closed higher on Monday, with the S&P 500 ending a three-session losing streak ahead of the Federal Reserve's two-day policy meeting. The CNN Money Fear and Greed index indicated a slight decline in market sentiment but remained in the 'Greed' zone. Alphabet Inc. shares rose over 4% following reports of discussions with Apple to integrate Google Gemini into the iPhone. Science Applications International Corp shares fell about 10% after its Q4 results. The NAHB/Wells Fargo Housing Market Index reached its highest in eight months, and most S&P 500 sectors saw gains, except healthcare and real estate. Investors are looking forward to earnings results from Citi Trends, Caleres, and Core & Main.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 6:56 am

FINV

FinVolution Group reported Q4 adjusted earnings per share of $0.29, unchanged YoY, with sales of $454.03M missing the $455.12M estimate, a 2.68% increase from last year's $442.20M.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:48 am

FFND

TSLA

Gary Black, Future Fund Managing Partner, suggests Tesla Inc (TSLA) should report AI revenue and profit as a separate segment in its earnings to highlight its AI initiatives, potentially enhancing its valuation. He estimates FSD revenue at $1B, a fraction of Tesla's total revenue, but believes a dedicated AI segment could attract more investor interest. Additionally, Black comments on Tesla's recent stock price increase, attributing it to announced price hikes for the Model Y in the U.S. and Europe, rather than just the new FSD version, suggesting this could improve Tesla's earnings and margins.

Portfolio Pulse from Anan Ashraf

March 19, 2024 | 6:22 am

CNM

Core & Main, Inc. (NYSE:CNM) is set to release its Q4 earnings on March 19, 2024, with expectations to report earnings of 35 cents per share and quarterly revenue of $1.43 billion, showing growth from the previous year. The company recently acquired NW Geosynthetics Inc. (ACF West Inc.). Analysts from Loop Capital, Citigroup, Goldman Sachs, Truist Securities, and Barclays have provided updates on their ratings and price targets for CNM, reflecting a generally positive outlook.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 5:43 am

YY

JOYY Inc. reported a 4.5% year-over-year increase in Q4 average mobile MAUs for Bigo Live, reaching 38.4 million. However, Likee and Hago saw declines in MAUs due to reduced ad spending. Overall, global mobile MAUs rose by 2.6% to 274.9 million. The total number of paying users for BIGO services increased by 7.9% to 1.67 million, although the average revenue per paying user slightly decreased.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:03 am

YY

JOYY Inc. forecasts its Q1 2024 net revenues to range between $543M and $560M, falling short of the consensus estimate of $579.45M. The company attributes this outlook to current market conditions, operational factors, and business strategies, while also noting the potential impact of growing macroeconomic uncertainties.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:59 am