Streetbeat News

Earnings

ITUB

Itau Unibanco Banco Holding's shares are trading lower despite the company reporting better-than-expected Q4 revenue results.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:38 pm

CMI

Cummins Inc (NYSE:CMI) reported a 10% year-over-year sales growth for Q4 fiscal 2023, reaching $8.54 billion and surpassing the $8.14 billion consensus. Despite strong sales, adjusted EPS of $4.14 missed expectations by $0.34. The company faced a $2.04 billion charge related to U.S. regulatory claims and other costs. Operating loss was $(1.21) billion compared to an income of $802 million a year ago. Cummins anticipates a 2%-5% revenue decline in 2024, with an EBITDA margin of 14.4%-15.4%. Shares rose 3.07% to $248.51.

Portfolio Pulse from Akanksha Bakshi

February 06, 2024 | 5:33 pm

NFLX

Recent options activity on Netflix (NASDAQ:NFLX) shows a bearish sentiment among investors, with 70% of trades being bearish. The trading activity suggests investors are targeting a price range of $300 to $850 for NFLX in the next three months. Significant trades include both calls and puts, with a notable volume and open interest in options within the $300 to $850 strike price range. Netflix's business model focuses on its streaming service, with a vast subscriber base and recent introduction of ad-supported plans. NFLX's current market status shows a slight price increase with potential overbought indicators.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:31 pm

ADAUSD

DOGEUSD

SHIBUSD

TAO

Bittensor (CRYPTO: TAO) reached a new all-time high of $516, marking a 13% increase on the day and a 113% increase over the last 30 days, bringing its market capitalization to over $3 billion. Analysts are bullish, predicting it could surpass the market caps of Shiba Inu (CRYPTO: SHIB) and Cardano (CRYPTO: ADA). The surge in AI token market capitalization and anticipation of Nvidia's earnings are contributing factors. High-profile endorsements and comparisons to Bitcoin and Ethereum for AI decentralized applications highlight its potential.

Portfolio Pulse from Khyathi Dalal

February 06, 2024 | 5:31 pm

AGFY

SUNW

SYM

ULCC

In Tuesday's intraday session, several industrials stocks experienced significant movements. Agrify, Frontier Group Holdings, Energy Vault Holdings, EHang Holdings, ESS Tech, and Spirit Airlines saw their shares rise, with increases ranging from 11.83% to 26.5%. Conversely, Sunworks, Compx Intl, Pineapple Energy, Symbotic, Pixie Dust Technologies, and Erayak Power Solution Gr witnessed declines in their stock prices, with decreases ranging from 18.75% to 58.9%. Notably, Frontier Group Holdings and Symbotic released their Q4 and Q1 earnings, respectively.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:31 pm

PLTR

RMBS

In Tuesday's intraday session, notable movements were observed in the Information Technology sector. Nano Labs (NA) saw an extraordinary rise of 9032.6% to $102.34, leading the gainers. Other gainers included Addvantage Technologies (AEY), Zenvia (ZENV), WaveDancer (WAVD), Bit Origin (BTOG), and Palantir Technologies (PLTR), with Palantir's surge attributed to its Q4 earnings release. On the losing end, Peraso (PRSO), Fabrinet (FN), Rambus (RMBS), Minim (MINM), Gorilla Tech Gr (GRRR), and Datasea (DTSS) experienced declines, with Fabrinet and Rambus's drops linked to their Q2 and Q4 earnings reports, respectively.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:31 pm

PDS

Precision Drilling Corp (NYSE:PDS) shares surged after reporting its Q4 FY23 results, with a slight revenue decline but significant increases in adjusted EBITDA and EPS. The company saw a decrease in drilling rig utilization days in the U.S. and Canada but an increase internationally. It plans to reduce debt and allocate a portion of its free cash flow towards share repurchases, with an outlook of increasing its average active international rig count by 40% Y/Y.

Portfolio Pulse from Lekha Gupta

February 06, 2024 | 5:18 pm

AGFY

BRTX

CNC

PLTR

PRSO

SUNW

TENX

U.S. stocks traded mixed with the Dow up 0.19% and the Nasdaq down 0.41%. Centene Corporation reported better-than-expected Q4 results, with sales up 11% Y/Y. Tenax Therapeutics, Palantir Technologies, and Agrify Corporation saw significant stock increases, while Sunworks, BioRestorative Therapies, and Peraso Inc. experienced major declines. Oil prices rose by 1.2%.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 5:08 pm

XYL

Xylem's stock is trading higher following the announcement of their Q4 financial results, which surpassed expectations. Additionally, the company has provided guidance for the fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:05 pm

QNST

QuinStreet (NASDAQ:QNST) is scheduled to release its quarterly earnings report on February 7, 2024, with analysts expecting an EPS of $-0.05. The company's past earnings performance shows mixed results with both beats and misses, leading to varied stock price reactions. Shares are currently trading at $12.41, reflecting a 10.45% decline over the last year. Investors are looking for positive guidance for the next quarter to potentially influence the stock's direction.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:02 pm