Streetbeat News

Earnings

WPC

W.P. Carey Inc (NYSE:WPC) shares fell after reporting Q4 FY23 earnings with a revenue increase of 2.4% Y/Y to $412.4 million, missing consensus. Lease revenues decreased due to reclassifications and a spin-off, and AFFO per share dropped 7.8% Y/Y to $1.19, below expectations. The company announced a FY24 AFFO per share outlook of $4.65-$4.75 and plans for increased investment volume. Despite the downturn, CEO Jason Fox remains optimistic about 2024.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 5:37 pm

EMKR

EMCORE shares are trading lower due to the company reporting worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 5:35 pm

CNXA

EXPE

NWL

PLCE

POWW

QRTEB

In Friday's intraday session, several consumer discretionary stocks showed significant movement. Notably, Connexa Sports Techs (CNXA) surged by 65.8%, while Children's Place (PLCE) plummeted by 48%. Other notable movers include Qurate Retail (QRTEB) and Expedia Group (EXPE), with respective changes of 30.85% and -18.91%. Earnings reports influenced some of these movements, with AMMO (POWW), Expedia Group (EXPE), and Newell Brands (NWL) releasing their quarterly results.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 5:31 pm

CLSK

EMKR

NET

In Friday's intraday session, notable movements were observed in the Information Technology sector. Cleanspark, Meta Materials, Cloudflare, Aeva Technologies, SPS Commerce, and Iris Energy experienced significant gains following their earnings reports. Conversely, EMCORE, MicroAlgo, Lantronix, MicroCloud Hologram, eGain, and CCSC Technology saw substantial declines, also influenced by their earnings releases.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 5:31 pm

CCJ

NATKY

Cameco (NYSE:CCJ) reported significant growth in 2023 with revenue, gross profit, and net earnings all showing substantial increases from the previous year. The company highlighted the global support for nuclear power and its role in achieving net-zero emissions by 2050. Cameco's performance was boosted by increased sales volumes and prices in uranium and fuel services. However, uncertainties include production issues by Kazatomprom (OTCPK: NATKY) and potential U.S. bans on Russian uranium. Cameco has also entered a strategic acquisition of Westinghouse in partnership with Brookfield (NYSE:BN), expecting significant EBITDA growth.

Portfolio Pulse from Stjepan Kalinic

February 09, 2024 | 5:29 pm

PLCE

Children's Place, Inc. (NASDAQ:PLCE) shares plummeted after the company revised its fourth-quarter net sales and adjusted operating loss forecasts to figures below prior guidance and estimates. The company anticipates net sales between $454 million to $456 million, lower than the expected $462.88 million. Adjusted operating loss is projected at (9.0%) to (8.0%) of net sales, a significant deviation from the previously forecasted 2% to 3% adjusted operating margin. Additionally, Children's Place aims to end the year with a clean inventory, expecting a 16% to 20% decrease compared to the previous year. The company also forecasts a substantial reduction in total indebtedness by more than $100 million from the third quarter of fiscal 2023, with expected total liquidity of approximately $45 million as of February 3, 2024. Consequently, PLCE shares dropped by 48% to $10.25.

Portfolio Pulse from Nabaparna Bhattacharya

February 09, 2024 | 5:18 pm

AFRM

SHOP

Affirm Holdings Inc (NASDAQ:AFRM) shares fell after Q2 earnings, despite beating estimates, due to guidance suggesting a slowdown in GMV growth. Analysts have mixed views, with price targets adjusted accordingly. The company's performance was boosted by its Shopify partnership and transaction growth, but future revenue and GMV growth are expected to slow. Affirm's BNPL service is seen as a leader in a growing market, with significant partnerships like Amazon and Shopify.

Portfolio Pulse from Priya Nigam

February 09, 2024 | 5:12 pm

DIS

Walt Disney Co (NYSE:DIS) has developed 'Disney's Magic Words,' an AI-powered advertising tool for Disney+ and Hulu, aimed at tailoring commercials to specific scenes or moods. This innovation comes as Disney reports a 3% drop in advertising revenue to $3.35 billion in Q1 fiscal 2024, reflecting a broader industry shift away from traditional TV. Despite this, Disney's strategic investment in streaming ad technology and AI across its divisions underscores its adaptation to changing market dynamics. However, Disney's Q1 revenue was flat at $23.5 billion, missing estimates, and its shares fell by 2.04%.

Portfolio Pulse from Anusuya Lahiri

February 09, 2024 | 5:09 pm

DOOR

EMKR

INBS

NET

PINS

PLCE

SYBX

Nasdaq rose over 100 points while the Dow and S&P 500 showed mixed results. Pinterest reported higher earnings but missed sales estimates, forecasting Q1 revenue below expectations. Intelligent Bio Solutions, Masonite International, and Cloudflare saw significant stock increases, while The Children's Place, Synlogic, and EMCORE Corporation experienced sharp declines. The information technology sector led gains, whereas consumer staples fell.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 5:08 pm

GSK

MRNA

PFE

Moderna Inc's stock is trading lower after a Phase 3 trial analysis of its experimental RSV vaccine showed a faster decline in effectiveness compared to competitors GSK Plc and Pfizer Inc. The vaccine's efficacy dropped to about 63% after 8.6 months from an initial 84% at 3.3 months. In contrast, Pfizer's vaccine efficacy decreased to 49% at 17 months from 67%, and GSK's vaccine efficacy reduced to 77% at 14 months from 83%. Moderna is focusing on driving sales of its COVID-19 vaccine and launching its RSV vaccine in 2024.

Portfolio Pulse from Vandana Singh

February 09, 2024 | 5:03 pm