Streetbeat News

Earnings

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, expressed concerns over Tesla's falling earnings despite increased sales of Cybertrucks and overall vehicles. He highlighted the need for Tesla to address the decline in earnings amidst high sales volumes. Gerber also noted that Tesla is being valued more as a hardware company due to intense competition in China and its failure to achieve autonomous driving. Tesla's stock dropped over 7% following a reported decline in vehicle sales in China for February.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 10:59 am

NIO

NIO Inc. projects its Q1 2024 revenue to range between $1.48B and $1.56B, with vehicle deliveries estimated at 31,000 to 33,000 units. This forecast suggests a slight decrease to a moderate increase in both revenue and deliveries compared to Q1 2023.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:07 am

NIO

NIO Inc. reported a 25.0% year-over-year increase in Q4 vehicle deliveries, totaling 50,045 units, despite a 9.7% decrease from the previous quarter. The deliveries included 33,679 premium smart electric SUVs and 16,366 sedans.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:04 am

NIO

NIO reported Q4 adjusted EPS of $(0.39), surpassing the $(0.51) estimate, and sales of $2.41B, exceeding the $2.29B estimate. This represents an 11.36% increase in EPS and a 3.43% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:03 am

ALB

CLSK

FUFU

GTLB

MARA

MSTR

SEMR

SFIX

SMCI

GitLab Inc. (GTLB) shares fell 22.4% in pre-market trading after issuing a weak earnings forecast for FY25, below analyst expectations. Other stocks such as Stitch Fix (SFIX), Semrush Holdings (SEMR), MicroStrategy (MSTR), Ethereal Tech (FUFU), CleanSpark (CLSK), Albemarle Corporation (ALB), Marathon Digital Holdings (MARA), and Super Micro Computer (SMCI) also recorded losses in pre-market trading due to various factors including disappointing financial results, proposed offerings, and market volatility.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 10:00 am

JWN

NIO

TGT

Earnings reports for March 5, 2024, include a mix of expected quarterly losses and earnings from various sectors. Notable companies like NIO, Target, and Nordstrom are among those reporting. The reports span across different industries, including automotive, retail, biotech, and technology, indicating a broad market impact.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 10:00 am

ESLT

Elbit Systems Ltd. (NASDAQ:ESLT) anticipates non-cash expenses of $52 million in Q4 2023 due to inventory write-off from closing an underperforming subsidiary and discontinuing a project.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 8:48 am

NIO

TSLA

Nio Inc's sub-brand Alps is set to launch its first model, an electric vehicle touted as 'better than Tesla's Model Y,' according to new spy shots. The vehicle, expected to be a mid-size SUV with features like battery swap and faster charging, aims to be cheaper than the Model Y. The model is scheduled for launch in October. Tesla's Model Y was the best-selling vehicle worldwide in 2023, with significant sales in China. Nio is expected to report a Q4 loss of 51 cents per share, following a Q3 net loss of 37 cents per share.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 8:40 am

BTCUSD

SHIBUSD

SMCI

In 2023, Bitcoin and Shiba Inu saw significant returns, with Bitcoin gaining over 155% and SHIB 260%. Super Micro Computer (SMCI) outperformed both, with a 278% return, attributed to its S&P 500 inclusion. The crypto market's recovery was driven by regulatory approvals and anticipation of a spot Bitcoin ETF, while AI stocks like SMCI benefited from the broader risk-on sentiment.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 8:09 am

JOAN

JWN

NIO

ROST

TGT

The CNN Money Fear and Greed index indicates 'Extreme Greed' in the market, despite a drop in the S&P 500 and Nasdaq from record highs. Macy's shares surged 13.6% after a raised acquisition offer, while JOANN Inc. shares plummeted 44% amid bankruptcy considerations. The market awaits earnings from Nordstrom, NIO, Target, and Ross Stores.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 7:25 am