Streetbeat News

Earnings

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

AVAV

JWN

ROST

SFIX

TGT

U.S. stock futures traded lower, with focus on Target's expected earnings, AeroVironment's Q4 results, Ross Stores' earnings anticipation, Stitch Fix's disappointing Q2 results, and Nordstrom's expected earnings. Target and AeroVironment shares rose in after-hours trading, while Stitch Fix shares dipped significantly.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 7:20 am

ARBK

Argo Blockchain PLC (ARBK) announced the sale of its Mirabel Quebec Data Center for $6.1M and reported a 15% decrease in mining revenue for February 2024 to $4.5M, attributed to a 21% reduction in daily Bitcoin production due to maintenance-related outages and a 5% increase in average network difficulty.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:08 am

ATLC

Atlanticus Holdings (NASDAQ:ATLC) reported Q4 earnings of $1.10 per share, surpassing the $0.96 estimate, a 12.24% increase from last year. Sales reached $309.09M, beating the $306.38M estimate, marking a 14.86% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:08 am

SPY

Bank of America has increased its S&P 500 price target to 5,400, anticipating a 13% gain for the year, despite expecting a near-term pullback. This adjustment is based on strong earnings and historical patterns, though the bank has lowered its bullish conviction due to adjustments in its sell-side indicator and other measures. Concerns about an AI bubble and high P/E ratios among top S&P 500 companies have been raised by industry experts.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 7:06 am

RNGR

Ranger Energy Services (NYSE:RNGR) reported Q4 earnings of $0.09 per share, missing the consensus estimate of $0.29 by 68.97%. Year-over-year, earnings decreased by 70% from $0.30 per share. Q4 sales were $151.50M, slightly above the estimate of $151.00M, but marked a 1.81% decrease from $154.30M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:05 am

NKLA

Nikola (NASDAQ:NKLA) announced the appointment of Thomas B Okray, a former General Motors executive, as its new CFO. Okray brings over four decades of financial expertise from various roles, including positions at General Motors, Eaton Corporation, Grainger, and Advance Auto Parts. This leadership change comes after Nikola's previous CFO resigned, marking a period of significant executive turnover within the company. Nikola reported producing 38 trucks last year, a decrease from 258 in 2022, with a total revenue of $35.8 million and a gross loss of $214.1 million. Nikola's share price closed down 5% at $0.7 on Monday.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 6:32 am

TGT

Target Corporation (NYSE:TGT) is anticipated to report higher earnings for Q4 before the opening bell on March 5, 2024, with expected earnings of $2.41 per share, up from $1.89 per share year-over-year, and projected revenue of $31.83 billion, up from $31.39 billion. The company announced a collaboration with Diane von Furstenberg for a spring collection on Feb. 20. Target's shares fell 3.1% to close at $150.49 recently. Analysts from JP Morgan, Telsey Advisory Group, Oppenheimer, Stifel, and Gordon Haskett have provided various ratings and price targets for Target, indicating a generally positive outlook.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 5:54 am