Streetbeat News

Earnings

NIO

NIO Inc. (NYSE:NIO) shares are up in premarket trading after reporting an 18.2% year-over-year increase in vehicle deliveries for January 2024, totaling 10,055 vehicles. Cumulative deliveries reached 459,649. The company also announced strategic partnerships with JAC Group and Chery Automobile for battery swapping, adding to previous collaborations with Changan Automobile and Geely Group. Furthermore, NIO co-established Zhongan Energy to build 1,000 battery swap stations in China, aiming to expand the power network and promote battery swapping.

Portfolio Pulse from Nabaparna Bhattacharya

February 01, 2024 | 1:59 pm

ITW

Illinois Tool Works shares are trading lower following the announcement of mixed Q4 financial results. The company's performance in the last quarter has led to a decrease in stock price.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:56 pm

ROK

Rockwell Automation, Inc. (NYSE:ROK) reported Q1 results below expectations with sales of $2.05 billion and adjusted EPS of $2.04, missing consensus estimates. Despite a decline in Intelligent Devices sales, Software & Control, and Lifecycle Services saw growth. The company reaffirmed its full-year adjusted EPS and sales growth guidance. Shares fell 17.6% following the announcement. Analysts from Daiwa Capital and Wells Fargo adjusted their price targets post-earnings.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:52 pm

DKNG

DVN

SSD

STWD

WWD

Jim Cramer discussed several stocks on CNBC's 'Mad Money Lightning Round,' praising Woodward, Inc. (WWD) for its better-than-expected Q1 financial results. He disagreed with Starwood CEO's negative outlook on commercial real estate, mentioning Starwood Property Trust, Inc. (STWD). Cramer called Simpson Manufacturing Co., Inc. (SSD) a good stock to own and showed preference for DraftKings Inc. (DKNG) over Super Group (SGHC) Limited. He also recommended buying Devon Energy Corporation (DVN) shares.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:51 pm

ETN

Eaton Corporation's shares experienced an increase following the announcement of their fourth-quarter financial results, which surpassed expectations. Additionally, the company provided guidance for the first quarter and full year of 2024, contributing to the positive market reaction.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:47 pm

NDAQ

Nasdaq Inc. (NASDAQ:NDAQ) shares fell by 1.33% to $57.00 in the current market session, reflecting a 1.73% increase over the past month but a 5.86% decrease over the past year. The company's P/E ratio of 27.77, compared to the Capital Markets industry average of 42.74, suggests it may be undervalued or expected to underperform by shareholders.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 1:45 pm

PH

Parker-Hannifin's stock is trading higher following the announcement of their Q2 financial results, which exceeded expectations. Additionally, the company has increased its guidance for FY24, signaling stronger future performance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:44 pm

RACE

Ferrari's stock is on the rise following the announcement of its Q4 and 2023 financial results, along with its guidance for 2024.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:43 pm

CNMD

CONMED Corporation (NYSE:CNMD) reported Q4 earnings below market expectations, with adjusted earnings of $1.06 per share against estimates of $1.11 and sales of $327.05 million versus expected $332.20 million. Despite this, the company saw significant year-over-year growth in both domestic and international revenues. CONMED's CEO highlighted the year's success and the company's outlook for 2024, projecting revenue between $1.340 billion and $1.365 billion and adjusted earnings per share of $4.30 to $4.40. Following the report, Needham raised its price target for CONMED from $119 to $129, while Wells Fargo reduced its target from $107 to $98.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:42 pm

KPLT

Katapult Holdings reports preliminary Q4 revenue of approximately $58.0 million, surpassing the estimated $55.815 million.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:41 pm