Streetbeat News

Earnings

F

Ford Motor Company reported a 10.5% increase in unit sales for February, totaling 174,192 units. Sales of internal combustion units rose by 7.5%, electric vehicle (EV) sales surged by 81% to 3,523 units, and hybrid vehicle sales increased by 32% to 12,045 units.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:00 pm

SPY

Bank of America's equity strategist, Savita Subramanian, has raised the year-end target for the S&P 500 to 5,400, indicating a 5% upside potential. Despite the positive outlook, she warns of potential market volatility, citing a neutral sentiment gauge and a divergence between the S&P 500 index and the percentage of stocks trading above their 50-day moving average. The SPDR S&P 500 ETF Trust (SPY) has seen gains, but the market's breadth is narrowing, suggesting caution.

Portfolio Pulse from Piero Cingari

March 04, 2024 | 3:50 pm

MCFT

OSK

MasterCraft Boat Holdings, Inc (NASDAQ:MCFT) announced Brad Nelson as the new CEO effective March 18, 2024, succeeding Fred Brightbill. Nelson, with over 30 years of experience, previously served at Oshkosh Corporation (NYSE:OSK). MasterCraft reiterated its fiscal Q3 and full-year 2024 guidance, with shares trading lower by 1.41% at $21.65.

Portfolio Pulse from Shivani Kumaresan

March 04, 2024 | 3:43 pm

NYCB

RNA

SAVE

TSLA

U.S. stocks were lower on Monday, with significant movements in several companies. Tesla's shares fell 5.4% due to a reported decline in China sales. Other notable movements include Avidity Biosciences dropping 16.6% after announcing trial data, New York Community Bancorp declining 13.6% due to identified material weaknesses, and Spirit Airlines dipping 12.1% after terminating its merger with JetBlue. Various other stocks also recorded losses.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 3:40 pm

GOOG

GOOGL

META

MSFT

Alphabet Inc (GOOG, GOOGL) faces market volatility due to AI product Gemini's issues and leadership scrutiny, despite a +52% growth last year. JPMorgan maintains an 'Overweight' rating with a $165 target, citing challenges in Gen AI, cost re-engineering, and potential for a dividend. Google aims to close the Gen AI gap with Microsoft (MSFT) and OpenAI, amidst online ad market shifts and comparisons with Meta Platforms (META). A dividend could attract a broader investor base, contingent on business performance improvements.

Portfolio Pulse from Surbhi Jain

March 04, 2024 | 3:21 pm

MA

Deep-pocketed investors have shown a bearish sentiment towards Mastercard (NYSE:MA), with a significant move detected in options trading. Benzinga's tracking revealed 11 unusual options activities, with 9 puts and 2 calls, indicating a bearish outlook. The predicted price range for Mastercard is between $475.0 to $500.0. The trading volume and RSI indicators suggest Mastercard might be approaching overbought territory. An earnings announcement is expected in 52 days.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:18 pm

WFC

Smart money investors have shown a significant bearish stance on Wells Fargo (NYSE:WFC) through options trading, as detected by Benzinga's options scanner. A total of 8 unusual options trades were spotted, with a sentiment split of 25% bullish and 75% bearish. The trades include both puts and calls, with a notable volume and open interest in contracts aiming for a price window of $55.0 to $60.0. The current market position of WFC shows a slight decrease in stock price by -0.31%, trading at $54.89, and an anticipated earnings release in 39 days.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:18 pm

GTLB

GitLab Inc. (NASDAQ:GTLB) is set to release its Q4 earnings on March 4, 2024, with analysts forecasting an EPS of 8 cents, up from a loss of 3 cents a year ago, and revenue of $158.21 million, up from $122.91 million. The company recently appointed Sabrina Farmer as CTO. Shares rose 1.7% to $73.31. Analysts from Truist Securities, DA Davidson, Mizuho, Goldman Sachs, and RBC Capital have provided ratings and adjusted price targets.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 3:10 pm

HNNA

OCCI

Hennessy Advisors (NASDAQ:HNNA) announced a dividend payout of $0.14 per share with an annualized yield of 8.33%. Despite maintaining a steady dividend per share of $0.55 from 2020 to 2023, the company's earnings per share decreased from $1.06 to $0.63, indicating potential challenges in sustaining future dividends. Hennessy Advisors's dividend yield is in the middle range compared to its peers, with OFS Credit Co (NASDAQ:OCCI) having the highest yield at 16.46%.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm

VLGEA

WMK

Weis Markets (NYSE:WMK) announced a dividend payout of $0.34 per share with an annualized yield of 2.27%, payable to shareholders on record as of February 19, 2024. The company has shown a steady increase in dividend per share from 2020 to 2023, despite a decrease in earnings per share over the same period. This suggests a commitment to returning capital to shareholders even amidst declining profitability. Village Super Market (NASDAQ:VLGEA) is mentioned as having the highest annualized dividend yield at 3.81% among industry peers.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:05 pm