Streetbeat News

Earnings

GCPEF

GCL Technology Holdings Ltd. (OTC:GCPEF) reported a significant drop in profit and a slight decrease in revenue for the last year, attributed to falling polysilicon prices despite booming demand for solar panels. The company's profit plunged by 85% to 2.5 billion yuan, with revenue falling 6.2% to 33.7 billion yuan. Polysilicon prices have sharply decreased, impacting GCL's gross profit margin, which fell to 34.7% from 48.7% in 2022. Despite the downturn, GCL plans to continue expanding its production capacity. Daqo (NYSE:DQ) also experienced a dramatic drop in polysilicon prices, affecting its average selling price.

Portfolio Pulse from The Bamboo Works

March 18, 2024 | 1:38 pm

CYTH

Cyclo Therapeutics reported its FY23 earnings with an EPS of $(1.23), an improvement from $(1.83) year-over-year. However, its revenue decreased to $1.076M from $1.375M in the same period.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:11 pm

TSLA

XLY

Goldman Sachs has lowered its stock price projections and delivery forecasts for Tesla, Inc. (NASDAQ:TSLA) due to production challenges and weakening demand for electric vehicles. The firm reduced its 12-month price target for Tesla from $220 to $190, citing slower Model 3 ramp-up, operational disruptions in Berlin, and a general softening in EV demand. Despite these challenges, Goldman Sachs sees growth opportunities for Tesla, including new models and a low-cost vehicle. Tesla's shares have dropped 34% year to date, significantly impacting its market valuation. The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY), with Tesla as its largest holding, has also seen its price stall.

Portfolio Pulse from Piero Cingari

March 18, 2024 | 1:09 pm

ERJ

Embraer SA (NYSE:ERJ) reported a Q4 FY23 revenue of $1.975 billion, missing consensus estimates but saw an increase in adjusted EBIT and EBITDA margins compared to the previous year. The company delivered 75 jets, including a military C-390 jet, and announced a firm order backlog of $18.7 billion. Adjusted income per basic ADS beat consensus, and FY24 guidance anticipates 72-80 commercial and 125-135 executive jet deliveries, with revenues of $6.0-$6.4 billion. ERJ shares rose 1.93% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 18, 2024 | 1:08 pm

PEGY

SAIC

STI

In Monday's pre-market session, several industrials stocks showed significant movement. Solidion Technology led the gainers with a 98.3% increase, while Pineapple Energy experienced the largest drop among the losers, falling 9.1%. Notably, EHang Holdings and Science Applications Intl released their Q4 earnings, influencing their stock prices.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 1:05 pm

AAPL

BYDDF

NVDA

QCOM

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged amid selling pressure. Apple unveiled a new AI with 30B parameters. US markets saw Logitech and B. Riley Financial moving lower. Nvidia and Qualcomm introduced new technologies, while Apple discussed licensing AI models with Google. Tesla and BYD made headlines in the EV market. Walmart and Best Buy engaged in a price war on Apple's MacBook Air. Boeing faced financial and safety scrutiny. Warren Buffett and Dave Ramsey expressed skepticism towards Bitcoin.

Portfolio Pulse from Akanksha Bakshi

March 18, 2024 | 1:05 pm

QTWO

Q2 Holdings (NYSE:QTWO) received mixed analyst ratings with a shift towards bullish sentiment over the past 30 days. The average 12-month price target is $49.67, reflecting a 21.47% increase from the previous target. Analysts from firms like Baird, DA Davidson, and Goldman Sachs have raised their price targets, indicating a positive outlook on the company's performance. Q2 Holdings, a provider of cloud-based virtual banking solutions, shows strong market confidence despite challenges in net margin and debt management.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 1:00 pm

ADM

CME

LULU

On CNBC's 'Halftime Report Final Trades,' analysts picked Lululemon Athletica Inc. (LULU), CME Group Inc. (CME), and Archer-Daniels-Midland Company (ADM) as their final trades. LULU is expected to report increased quarterly earnings and revenue. CME Group's earnings are also projected to rise. ADM reported a decline in fourth-quarter revenues and missed earnings expectations.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 12:48 pm

AWRE

COOK

NRDY

RVP

Insiders at Aware, Traeger, Nerdy, and Retractable Technologies have recently made significant stock purchases. These transactions come amid various company performances, including Aware's year-over-year EPS decrease, Traeger's disappointing Q4 results and FY24 guidance, Nerdy's positive analyst rating with a $5 price target, and Retractable Technologies' reported operational loss for the first nine months of 2023.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 12:44 pm

CAL

Caleres, Inc. (NYSE:CAL) is set to release its Q4 earnings report on March 19, 2024, with an annual dividend yield of 0.72%. Investors looking to earn $500 monthly from dividends would need approximately $835,731 invested in CAL, equating to around 21,429 shares. The company is expected to report quarterly earnings of 85 cents per share, up from 65 cents per share in the previous year, with projected revenue of $694.33 million. CAL shares recently gained 1.7% to close at $39.00.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 12:41 pm