Streetbeat News

Earnings

COIN

Coinbase Global Inc (NASDAQ:COIN) received positive analyst ratings following its Q4 earnings beat, with revenue of $953.8 million and EPS of $0.51, surpassing expectations. Analysts highlighted Coinbase's thriving business amid increased volatility, trading volumes, and partnerships, particularly noting its role as custodian for 8 of the 11 approved spot BTC ETFs. Price targets were raised by several analysts, reflecting optimism about Coinbase's market leadership, expansion, and product initiatives. However, Goldman Sachs maintained a Sell rating despite raising its price target, citing market conditions as primary performance drivers.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 6:15 pm

CHNR

CPS

HTOO

PRAA

THS

TTD

U.S. stocks traded lower with the Nasdaq down 50 points. TreeHouse Foods shares fell 14% after reporting Q4 revenue below estimates and a disappointing FY24 outlook. The Trade Desk, PRA Group, and Fusion Fuel Green saw shares rise following their financial results. Conversely, China Natural Resources, Bloom Energy, and Cooper-Standard Holdings experienced significant drops after their reports. Oil and gold prices saw slight increases.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 6:04 pm

CHNR

DASH

GXAI

HTOO

DoorDash shares fell by 12.2% after reporting mixed Q4 results and providing Q1 guidance. Other stocks showed significant movements, with Gaxos.ai surging 444% after announcing an AI solution for game developers, and Fusion Fuel Green climbing 157% following European Commission approval for its project. Losers included China Natural Resources, dropping 48% after a direct placement announcement, and Bloom Energy, falling 24% due to disappointing Q4 results.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 6:04 pm

DKNG

FLUT

DraftKings Inc (NASDAQ:DKNG) reported strong Q4 financial results and announced the acquisition of Jackpocket, a move praised by analysts for potential cross-sell opportunities and user base expansion. Analysts from BMO Capital, Stifel, Oppenheimer, Needham, JMP Securities, Truist, and Benchmark provided positive outlooks, raising price targets and highlighting DraftKings' growth prospects, especially in light of new state legalizations and the Jackpocket acquisition. Flutter Entertainment (NYSE:FLUT) was also mentioned as a key competitor in the sports betting sector.

Portfolio Pulse from Chris Katje

February 16, 2024 | 6:01 pm

DCO

In the last three months, Ducommun (NYSE:DCO) received diverse analyst ratings, with a recent shift towards more bullish perspectives. The average 12-month price target for DCO is now $66.5, up 1.53% from the previous $65.50, with ratings ranging from 'Buy' to 'Outperform'. Analysts' actions, including maintaining and adjusting price targets, reflect their response to Ducommun's market performance and financial indicators such as revenue growth, net margin, ROE, ROA, and debt management. Ducommun's financial performance shows positive revenue growth, exceptional net margin, and strong ROE and ROA, with a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 6:01 pm

First Industrial Realty (NYSE:FR) has received mixed analyst ratings over the last three months, with a recent shift towards a more bullish outlook. The average 12-month price target has been raised to $55.00, indicating a 9.28% increase from the previous target. Analysts from RBC Capital, Goldman Sachs, and Mizuho have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. First Industrial Realty, a REIT focusing on industrial real estate, has shown strong financial health with positive revenue growth, exceptional net margin, and effective debt management.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 6:00 pm

DIS

PENN

PENN Entertainment Inc (NASDAQ:PENN) reported Q4 financial results, with analysts focusing on the future growth of ESPN Bet. Analysts from Macquarie, Needham, Stifel, and JMP Securities provided insights, highlighting the high investment levels and losses in the digital segment but also noting the potential for future growth and market share gains. The integration of ESPN Bet with ESPN, licensed from Walt Disney Co (NYSE:DIS), is seen as a positive step. PENN shares have seen a decline, reflecting investor concerns and the high costs associated with the ESPN Bet launch.

Portfolio Pulse from Chris Katje

February 16, 2024 | 5:43 pm

CNA

MCY

MRAI

In Friday's intraday session, insurance stocks saw significant movements. Marpai, Mercury General, American Coastal, FG Finl Gr, Employers Holdings, and Palomar Hldgs were among the gainers, with increases ranging from 1.98% to 13.0%. On the downside, CNA Financial, GoHealth, Waterdrop, Oxbridge Re Holdings, Maiden Hldgs, and Fanhua experienced declines between 2.78% and 5.33%. Notably, Mercury General, Employers Holdings, and Palomar Hldgs recently released their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:40 pm

DHI

LEN

PMH

TOL

January's housing starts data revealed a significant decline, with a 14.8% drop overall and a 35.8% fall in multifamily dwellings, attributed partly to severe weather in the Midwest. Despite this, the long-term trend for single-family home starts remains positive. High interest rates have led to increased mortgage rates, affecting home sales and purchases. This has negatively impacted housebuilders' stock performance, with D.R. Horton, Lennar, Pulte Group, and Toll Brothers seeing varied changes in their stock prices. Home Depot's stock, however, is up 5% in 2024, despite potential challenges from a slowing housing market.

Portfolio Pulse from Neil Dennis

February 16, 2024 | 5:38 pm

NKE

Nike Inc (NYSE:NKE) shares dropped after Oppenheimer downgraded the stock to Perform from Outperform and cut the price target to $110 from $150. The downgrade is due to expectations of sluggish top-line trends, concerns over consumer demand, pauses in product innovation, and competitive pressures. Additionally, Nike plans to cut over 1,600 jobs to focus on key categories and aims for $2 billion in cost savings over three years. The analyst also lowered EPS estimates for Q3 and FY26.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 5:37 pm