Streetbeat News

Earnings

AXL

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported a Q4 adjusted loss per share of $(0.09), beating estimates of a $(0.19) loss. Q4 sales rose 5% YoY to $1.46 billion, surpassing the $1.42 billion forecast. The company attributes the sales increase to volume and mix, despite the UAW work stoppage. Adjusted EBITDA for Q4 was $169.5 million, up from $157.7 million YoY. However, adjusted free cash flow decreased to $4.5 million from $99.0 million in Q4 2022. For FY24, American Axle targets sales between $6.05 billion and $6.35 billion, with adjusted EBITDA between $685 million and $750 million, expecting North American light vehicle production of about 15.8 million units. The company anticipates a gross new and incremental business backlog of approximately $600 million in future annual sales from 2024 to 2026, with an electrification mix of 50%. AXL shares dropped 1.93% to $8.385.

Portfolio Pulse from Nabaparna Bhattacharya

February 16, 2024 | 5:00 pm

TNET

TriNet Group's shares surged following the announcement of better-than-expected adjusted EPS results. Additionally, Needham reaffirmed its Buy rating on TNET and increased the price target from $135 to $150.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:58 pm

SWAV

Shockwave Medical's shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, Needham reaffirmed a Buy rating on Shockwave Medical and increased its price target from $260 to $286.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:54 pm

TDS

Telephone And Data Systems (TDS) shares are trading lower following the release of their Q4 financial results and the issuance of FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:52 pm

AAPL

MSFT

NVDA

SMCI

Nvidia Corp (NVDA) is set to report its Q4 results on February 21, with analysts projecting strong performance and future guidance raises. Wedbush and Oppenheimer analysts have raised their price targets to $800 and $850, respectively, citing high demand in AI infrastructure and data center investments. BofA also maintains a Buy rating with an $800 price target. Nvidia's market cap has reached $1.8 trillion, only behind Microsoft (MSFT) and Apple (AAPL) in the S&P 500, driven by AI enthusiasm. Super Micro Computer Inc (SMCI) also reported sales acceleration due to AI.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 4:47 pm

VMC

Vulcan Materials Co (NYSE:VMC) shares surged after reporting strong Q4 FY23 results, with revenue of $1.83 billion and adjusted EPS of $1.46, beating consensus estimates. The company saw significant growth in its Aggregates and Asphalt, Concrete, and Calcium segments, with increased gross profits and margins. Vulcan returned $428 million to shareholders, reported a 34% Y/Y increase in operating cash flow, and provided a positive outlook for 2024, expecting net earnings of $1.07 billion-$1.19 billion and adjusted EBITDA of $2.15 billion-$2.30 billion.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 4:44 pm

TTD

The Trade Desk, Inc. (NASDAQ:TTD) shares rose after reporting Q4 financial results that exceeded expectations and provided strong guidance. Despite missing EPS estimates, sales outperformed analyst predictions, and the company expanded its share repurchase program. Keybanc upgraded its price target for TTD following these results.

Portfolio Pulse from Erica Kollmann

February 16, 2024 | 4:42 pm

DIS

GOOG

NFLX

ROKU

Roku, Inc. (NASDAQ:ROKU) stock fell after reporting Q4 results with higher revenue but a larger EPS loss than expected. Despite beating revenue forecasts, its EPS loss of $(0.55) was below the expected $(0.54). Roku anticipates Q1 revenue above consensus, added 4.2 million net accounts, but saw a 4% decrease in average revenue per user. Analyst Jason Helfstein downgraded Roku to Perform. Roku introduced premium TVs and partnered with GroupM for ad buying. Its success is partly tied to Netflix's ad-supported tier expansion.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 4:34 pm

TRP

TC Energy Corp (NYSE:TRP) reported Q4 results surpassing estimates with adjusted EPS of $0.99 against a consensus of $0.83, and sales of $3.11 billion over the expected $3.03 billion. The company saw significant improvements in segmented earnings and comparable EBITDA, with notable growth in U.S. and Canadian Natural Gas Pipelines. TC Energy also announced a 3.2% increase in its quarterly dividend to C$0.96 per share and maintains a positive FY24 outlook, expecting comparable EBITDA between C$11.2 billion to C$11.5 billion. Shares rose 2.02% to $39.38.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 4:33 pm

AAPL

AMAT

AMZN

NVDA

TSLA

Applied Materials (AMAT) is highlighted as a prime 'picks and shovels' play in AI, benefiting from the demand for sophisticated chips, with strong earnings pushing tech stocks higher. Producer Price Index (PPI) data came in hotter than expected, indicating persistent inflation. Early trade money flows show positive trends for NVIDIA (NVDA) and Tesla (TSLA), neutral for Alphabet (GOOG) and Microsoft (MSFT), and negative for Apple (AAPL), Amazon (AMZN), and Meta (META). The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) show mixed money flows. The article also touches on Japan's Nikkei 225 reaching a 34-year high, and the importance of maintaining a protection band in investment strategies.

Portfolio Pulse from The Arora Report

February 16, 2024 | 4:32 pm