Streetbeat News

Earnings

AVGO

DELL

META

NVDA

Michael Dell has joined the $100 billion club as Dell Technologies Inc. (NYSE:DELL) shares surged by 32% after strong Q4 earnings, driven by demand for AI-related equipment. Dell's net worth reached $104.3 billion, making him the 12th richest globally. The company's AI servers, like the H100 and MI300X, have been highlighted for their effectiveness. Dell's wealth also benefits from his stake in Broadcom Inc. (NASDAQ:AVGO), valued at over $31 billion, acquired after Broadcom's acquisition of VMWare in 2021.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 5:08 pm

RIVN

TSLA

VWAGY

Rivian Automotive (NASDAQ:RIVN) reported Q4 financial results, highlighting 2023 milestones and a 2024 production goal of 57,000 vehicles. The introduction of leasing for its R1S SUV, which was the fifth bestselling EV in the U.S. for Q4, could significantly boost sales. Electric vehicles' market share of new retail sales in the U.S. reached 8.55% in Q4, with a record 30.7% of new EVs leased in 2023. Rivian's R1S had the lowest leasing percentage among the top five EVs, suggesting room for growth with its new leasing option.

Portfolio Pulse from Chris Katje

March 02, 2024 | 4:24 pm

AAPL

CVNA

DIS

GOOG

Benzinga's weekly review highlights market movements, with the Nasdaq and S&P 500 seeing gains, while the Dow slightly declined. Bitcoin surpassed $60,000, anticipating the halving event. Bullish views include Ackman's confidence in Alphabet for its AI and advertising, optimistic forecasts for Dogecoin and Shiba Inu, and predictions of Bitcoin reaching $200,000. Bearish perspectives involve Goldman Sachs removing Apple from its Conviction List, criticism of Disney by Gov. DeSantis, and a short report on Carvana questioning its valuation.

Portfolio Pulse from Michael Cohen

March 02, 2024 | 2:02 pm

DELL

Jim Cramer praised Dell Technologies, Inc. (NYSE:DELL) CEO Michael Dell for advancing AI, following impressive Q4 results. Dell's earnings and sales exceeded expectations, with significant growth in AI-optimized servers. The company's stock rose 31.24% after the announcement and Cramer's comments.

Portfolio Pulse from Ananya Gairola

March 02, 2024 | 11:36 am

BYDDF

BYDDY

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, reported a 37% year-over-year drop in sales volume for February 2024, selling 122,311 new energy vehicles. This marks a significant change as BYD had been experiencing sales growth throughout 2023 and even in January 2024. The company, which ceased production of oil-fueled vehicles in April 2022, sold 54,908 battery electric vehicles (BEVs) in February, nearly 39% lower than the previous year and 48% down from January 2024. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 8:28 am

FSR

NSANY

Nissan Motor Co Ltd is in advanced talks to invest over $400 million in Fisker Inc. to manufacture Fisker's Alaska electric pickup from 2026 and develop its own electric pickup using the same platform. This deal could significantly aid Fisker, which is facing financial challenges and recently announced a workforce reduction of 15%. Fisker reported a preliminary Q4 revenue increase but also a net loss, highlighting a challenging year with supplier delays affecting its Ocean SUV deliveries. Fisker's shares dropped 34% to $0.48.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 4:13 am

NVDA

TSLA

Nvidia Corporation (NVDA) has become the most popular stock among retail investors, surpassing Tesla Inc. (TSLA), with over $1 billion in purchases over a ten-day period compared to Tesla's under $500 million. Nvidia's stock has surged 60% year-to-date, while Tesla has declined by 18%. This shift reflects a broader change in retail sentiment, with Nvidia now seen as a bellwether of retail investment trends. Despite Nvidia's high stock price, its strong earnings growth from H100 GPU chips sales, praised by Tesla's CEO, has contributed to its popularity. Meanwhile, Tesla's retail investor interest has waned due to recent challenges and stock performance.

Portfolio Pulse from Ananya Gairola

March 02, 2024 | 2:49 am

AAPL

IBIT

MSFT

NYCB

QQQ

SPY

Stock markets rose further with the Nasdaq 100 and S&P 500 hitting record highs, driven by favorable inflation data and strong corporate earnings. Bitcoin surpassed $60,000, while New York Community Bancorp's stock plummeted due to internal turmoil. Elon Musk sued OpenAI, alleging a shift towards profit generation for Microsoft. Bitcoin ETFs experienced record inflows, and Goldman Sachs dropped Apple from its conviction list but maintained a 'Buy' rating.

Portfolio Pulse from Piero Cingari

March 01, 2024 | 9:35 pm

BVN

MUX

RGLD

USAU

McEwen Mining Inc. (MUX) and Compañia de Minas Buenaventura S.A.A. (BVN) reported their financial results for Q4 and full-year 2023, with MUX showing significant improvement and BVN experiencing a net loss in Q4. Royal Gold, Inc. (RGLD) declared a Q2 dividend of 40 cents per share. U.S. Gold Corp (USAU) received a Buy rating and a price target of $11 from HC Wainwright & Co.

Portfolio Pulse from Austin DeNoce

March 01, 2024 | 9:33 pm

AQMS

ORN

ZCAR

In Friday's after-market session, several industrials stocks showed notable movements. Orion Group Holdings (ORN) led the gainers with an 8.2% increase following their Q4 earnings release two days prior. Other gainers included Aqua Metals (AQMS), Singularity Future Tech (SGLY), Ideanomics (IDEX), ESS Tech (GWH), and Vertical Aerospace (EVTL) with increases ranging from 4.34% to 6.01%. On the losing side, Zoomcar Holdings (ZCAR) experienced the largest drop of 6.7%, followed by Ault Alliance (AULT), Roma Green Finance (ROMA), BioNexus Gene Lab (BGLC), MingZhu Logistics Holdings (YGMZ), and Baiyu Holdings (BYU) with declines between 4.14% and 6.32%.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 9:32 pm