Streetbeat News

Earnings

VRRM

Verra Mobility's shares surged following the announcement of Q4 revenue results that exceeded expectations and the issuance of FY24 revenue guidance surpassing estimates.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 8:52 pm

AMZN

IVV

META

NVDA

SPY

VOO

The U.S. tech rally, led by the 'Magnificent Seven' tech stocks, has shown significant growth over the past year, with the S&P 500 Index up over 25%. This growth is attributed to sustainable fundamentals, particularly the strategic focus on generative AI, which has driven a 90% surge in these stocks since the beginning of 2023. The ETFs tracking the S&P 500, such as SPY, VOO, and IVV, have also seen price appreciation. Nvidia, Meta Platforms, and Amazon have been the top performers among the Magnificent Seven, with substantial returns.

Portfolio Pulse from Surbhi Jain

March 01, 2024 | 8:06 pm

PLUG

Plug Power's shares are trading higher following the announcement of their FY23 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 8:03 pm

CTVA

Corteva (NYSE:CTVA) has been evaluated by 9 analysts over the last three months, showing a diverse range of opinions. The average 12-month price target for Corteva has been raised to $60.78, up 5.01% from the previous target of $57.88. Analysts from firms including Loop Capital, Oppenheimer, and RBC Capital have raised their price targets, indicating a positive outlook on the company. Despite this, Corteva faces financial challenges with a -3.08% decline in revenue growth and below-average profitability metrics. The company, a leader in seed and crop chemical products, was spun off from DowDuPont in 2019.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 8:02 pm

GOLD

Deep-pocketed investors have shown a bearish sentiment towards Barrick Gold (NYSE:GOLD), as revealed by Benzinga's tracking of public options records. A significant surge in options activity for GOLD was observed, with a notable division among investors: 25% bullish and 75% bearish. The options activity focused on a price band between $13.0 and $20.0. Barrick Gold, a major gold miner, has seen its stock price slightly increase by 0.61% to $14.75, with its next earnings expected in 61 days.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 7:46 pm

BIVI

CRDF

FSR

REAL

SCLX

SIDU

U.S. stocks traded higher with the Nasdaq Composite gaining over 1%. Energy shares rose by 1.4% as crude oil prices increased by 2.3%. BioVie Inc., Cardiff Oncology, and The RealReal reported significant gains following positive updates. Conversely, Sidus Space, Fisker Inc., and Scilex Holding experienced sharp declines. Fisker's drop was due to preliminary Q4 revenue results below estimates and concerns about its ongoing viability.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 7:32 pm

DELL

Dell Technologies Inc. (NYSE:DELL) shares surged following a year of significant outperformance, a partnership with Subaru Corporation for driver safety improvements, and strong quarterly earnings that exceeded analyst expectations. The company reported earnings of $2.20 per share, surpassing the consensus estimate of $1.73, and sales of $22.3 billion, beating the $22.16 billion estimate. Despite a decline in revenue for its Infrastructure Solutions Group and Client Solutions Group, demand for AI servers increased, with servers and networking revenue at $4.9 billion. Dell also announced a 20% increase in its annual cash dividend.

Portfolio Pulse from Nabaparna Bhattacharya

March 01, 2024 | 7:24 pm

BYND

Beyond Meat's shares dropped following the announcement that the company faced technical difficulties in filing its annual report. Additionally, Beyond Meat indicated plans to seek additional capital in 2024.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 7:14 pm

CELH

ROTH MKM analyst Sean McGowan reiterated a Buy rating on Celsius Holdings, Inc. (NASDAQ:CELH), raising the forecast to $90. Celsius Holdings surpassed Q4 earnings estimates with a 95% year-over-year revenue increase, driven by distribution expansion, increased shelf space, and high retail sales velocity. McGowan projects future growth from further shelf space gains, velocity, and international expansion, forecasting a revenue growth of just under 50% in 2024. Despite favorable cost trends, international expansion costs are expected to offset gains, with gross margin percentages projected just below 48% in '24 and '25. CELH shares dropped 4.72% to $77.77.

Portfolio Pulse from Nabaparna Bhattacharya

March 01, 2024 | 7:13 pm

NVDA

SOUN

SoundHound AI Inc (NASDAQ:SOUN) stock experienced a Golden Cross, indicating a bullish market trend, with its stock up about 250% this year. The momentum has been particularly strong since early February, driven by investments from NVIDIA Corp (NASDAQ:NVDA) and SoftBank. Despite missing earnings expectations, SoundHound's positive revenue guidance for 2024 and 2025 has boosted investor confidence. The company's advancements in voice and audio recognition technology and strategic partnerships are key factors in its growth.

Portfolio Pulse from Surbhi Jain

March 01, 2024 | 7:10 pm