Streetbeat News

Earnings

TDC

Teradata Corporation (NYSE:TDC) reported Q4 earnings of 56 cents per share, surpassing the consensus estimate of 51 cents, and a 60% increase from the previous year. Quarterly sales were $457 million, slightly above estimates. Despite the positive results, Teradata issued weak earnings guidance for Q1 and FY 2024, leading to a 23.8% drop in its share price. Following the report, RBC Capital, B of A Securities, and Morgan Stanley adjusted their price targets and ratings for Teradata.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 4:32 pm

TRMB

Trimble has provided its financial outlook for FY24, expecting revenues to range between $3.57 billion and $3.67 billion.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 4:28 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares fell 7.7% to $15.08 amid broader automotive sector declines after January 2024 inflation rates missed forecasts. The annual CPI inflation rate dropped to 3.1% from 3.4%, above the expected 2.9%. Higher-than-expected inflation could increase operational costs for Rivian, potentially squeezing profit margins and leading to investor sell-off.

Portfolio Pulse from Henry Khederian

February 13, 2024 | 4:27 pm

ZI

ZoomInfo Technologies Inc. (NASDAQ:ZI) reported Q4 earnings surpassing analyst expectations with earnings of 26 cents per share and sales of $316.4 million. The company forecasts FY 2024 adjusted operating income between $492 million and $502 million, with earnings between 99 cents and $1.01 per share. Following the report, ZoomInfo shares rose 12.5% to $18.01. Analysts from Piper Sandler, DA Davidson, RBC Capital, and Needham updated their price targets and ratings on ZoomInfo.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 4:25 pm

USAC

USA Compression Partners, LP (NYSE:USAC) reported a significant increase in Q4 fiscal 2023 revenue, surpassing market expectations with a total of $225.049 million, an 18.4% growth YoY. Earnings per unit rose to $0.02, reversing a loss from the previous year. The company also saw improvements in adjusted gross margin, operating income, and EBITDA margin. Distributable Cash Flow and horsepower utilization also increased. Looking ahead to 2024, USAC expects a tight compression market to benefit its operations, forecasting higher net income, Adjusted EBITDA, and Distributable Cash Flow. Despite the positive report, USAC shares dropped 1.32% to $23.58.

Portfolio Pulse from Akanksha Bakshi

February 13, 2024 | 4:21 pm

ABNB

Airbnb Inc (NASDAQ:ABNB) is experiencing increased attention ahead of its Q4 earnings report, expected to post earnings of 62 cents per share and $2.164 billion in revenue. Last quarter, Airbnb anticipated record-high Q4 adjusted EBITDA and noted potential impacts from macroeconomic trends and geopolitical conflicts on travel demand. Analysts from Oppenheimer and BofA have highlighted strong consumer demand and bookings for Airbnb, with BofA expecting the company to surpass average daily rates and room nights booked expectations. The average one-year price target for ABNB shares is $136.60, indicating a potential downside, with mixed analyst ratings.

Portfolio Pulse from Adam Eckert

February 13, 2024 | 4:18 pm

JPM

Analysis of JPMorgan Chase's (NYSE:JPM) options market reveals a bearish sentiment among traders, with 69% showing bearish tendencies and 30% bullish. Unusual trading activity includes 13 trades, with a notable preference for puts over calls. The options market targets a price range of $135.0 to $185.0 for JPM over the next 3 months. JPMorgan Chase, a major financial institution with nearly $4 trillion in assets, saw its stock price decrease by -0.84%, reaching $174.32. The next earnings report is scheduled in 59 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:16 pm

HWM

Howmet Aerospace's shares surged following the announcement of their Q4 results, which exceeded expectations. Additionally, the company provided Q1 revenue guidance that surpassed estimates.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 4:13 pm

GFS

GlobalFoundries Inc (NASDAQ:GFS) reported a decline in its Q4 FY2023 revenue by 12% year-on-year to $1.854 billion, slightly beating the consensus of $1.851 billion. The semiconductor manufacturer's adjusted EPS of 64 cents also surpassed the expected $0.58. However, the company saw a decline in adjusted gross margin and EBITDA margin, while operating margin improved. GFS generated $684 million in operating cash flow and held $3.9 billion in cash. The company's outlook for Q1 revenue and adjusted EPS is below market estimates, leading to a 4.07% drop in its stock price in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 4:10 pm

INCY

Incyte shares are trading higher following the announcement of better-than-expected Q4 revenue results and the issuance of FY24 Jakafi net product revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 4:09 pm