Streetbeat News

Earnings

AAL

American Airlines Group Inc (NASDAQ:AAL) shares dropped after the company updated its fuel price guidance for Q1, expecting to pay between $2.80 and $2.90 per gallon, up from the previous $2.65 to $2.85. This adjustment leads to an anticipated Q1 adjusted loss at the lower end of the previously guided range of 15 to 35 cents per share, while full-year 2024 guidance remains unchanged. The company pays a dividend yielding 1.22% annually as of March 12.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 1:32 pm

MANU

Manchester United Ltd. (NYSE:MANU) shares rose in premarket trading after Q2 results exceeded expectations with a quarterly revenue of $280.28 million against a forecast of $222.43 million. The increase was attributed to UEFA Champions League participation and Matchday attendance. Despite an 8.8% drop in commercial revenue, broadcasting and Matchday revenues surged by 81% and 59.2%, respectively. Operating expenses rose by 18.6%, but cash and equivalents doubled, thanks to strategic financial management. Adjusted EPS was $0.15, outperforming the expected loss of $0.22. The company is exploring stadium development options and maintains its fiscal 2024 revenue and EBITDA guidance.

Portfolio Pulse from Nabaparna Bhattacharya

March 12, 2024 | 1:30 pm

BA

LUV

Southwest Airlines (NYSE:LUV) shares dropped in premarket trading after the company revised its Q1 2024 guidance downwards, citing lower-than-expected leisure passenger volumes and a reduction in Boeing (NYSE:BA) 737 MAX aircraft deliveries. The revised forecast includes flat to 2% RASM growth, a decrease in expected aircraft deliveries from 79 to 46, and an increase in CASM-X by approximately 6%. Additionally, Southwest anticipates a Q1 net loss but expects profitability in March. The company also plans to reduce its workforce by the end of the year.

Portfolio Pulse from Nabaparna Bhattacharya

March 12, 2024 | 1:29 pm

RDDT

Reddit, Inc. (NYSE:RDDT) plans to go public with an IPO aiming to raise $748 million at a valuation of $6.4 billion, offering shares priced between $31 and $34. The Reddit community is divided on the IPO's valuation, with discussions on financial health, profitability plans, and long-term potential. Concerns include negative shareholder's equity, net income loss, and skepticism about future performance, while some users express confidence in Reddit's long-term prospects.

Portfolio Pulse from Surbhi Jain

March 12, 2024 | 1:19 pm

AM

DTM

ETRN

GIFI

MPC

As of March 12, 2024, five energy stocks are considered overbought based on their RSI values, indicating potential short-term performance concerns. These include Gulf Island Fabrication, Inc. (GIFI), Equitrans Midstream Corporation (ETRN), Marathon Petroleum Corporation (MPC), DT Midstream, Inc (DTM), and Antero Midstream Corporation (AM). Each company has shown significant stock price movements recently, attributed to various operational successes and strategic initiatives.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 1:18 pm

ONON

On Holding AG (NYSE:ONON) shares dropped after reporting Q4 FY23 earnings with sales growth of 21.9% to $504.23 million, missing estimates of $510.19 million. Adjusted EPS fell to $(0.06), below the $0.11 estimate. Despite a 38.2% increase in DTC sales and a 10.7% increase in wholesale sales, the stock fell 14.4% in premarket trading. The company forecasts a 26% net sales growth rate for Q1 2024 and expects at least CHF 2.25 billion in net sales for 2024.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 1:16 pm

KSS

During a conference call, a Kohl's executive reported that in Q4, sales at Sephora locations within Kohl's stores increased by over 70%, and comparable sales growth was nearly 25%. Additionally, the partnership with Sephora will be expanded in 2024, with plans to open about 140 smaller-format shops.

Portfolio Pulse from Charles Gross

March 12, 2024 | 1:16 pm

KSS

A Kohl's executive reported that the company's digital sales, when excluding the impact of the 53rd week, experienced a decline of approximately 10% in the quarter.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:12 pm

USIO

Usio, Inc. (NASDAQ:USIO) reiterates its fiscal 2023 revenue growth guidance of 18-20% YoY, driven by a 21% increase in Q4 electronic payments processing volume, excluding crypto. The company expects record revenues and positive adjusted EBITDA for 2023. Growth was led by a 65% increase in prepaid card purchase volume and a 17% increase in PayFac volume. Usio's exit from crypto processing in late 2022 contributed to a 21% increase in total processing volume for the year, excluding crypto volumes. The company also highlighted innovations and capacity expansions in its Output Solutions business.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:12 pm

SHCR

Sharecare (NASDAQ:SHCR), a digital health company, has postponed its Q4 and FY23 earnings release and investor conference call from March 13, 2024, to after market close on March 28, 2024. The company will also file a Form 12b-25 with the SEC, indicating a delay in filing its Form 10-K, but expects to meet the 15-day extension period. No changes to previously reported financials are anticipated.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:10 pm