Streetbeat News

Earnings

LAMR

Lamar Advertising (NASDAQ:LAMR) reported Q4 earnings of $1.46 per share, surpassing the $1.35 estimate, marking a 124.62% increase from last year. Sales reached $555.91M, exceeding the $547.66M estimate, up 3.81% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 11:01 am

NKLA

Nikola Corp (NASDAQ:NKLA) aims to deliver at least 100 battery-electric trucks in 2024 after addressing fire issues that led to recalls last year. The company plans to restart deliveries in late Q3 or early Q4 2024, with recalled vehicles returned to customers by end of Q2 or early Q3 after receiving new battery packs. The upgraded trucks will feature improved battery packs and other enhancements. Nikola produced 38 trucks last year, down from 258 in 2022, with a gross loss of $214.1 million, attributed to the recall costs.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 10:36 am

Block (NYSE:SQ) stock surged nearly 14% in premarket trading following its Q4 2023 earnings report, showing a 22% year-over-year rise in gross profit and robust growth in Square and Cash App revenue. The company raised its adjusted EBITDA forecast and reported significant growth in Cash App's gross profit and monthly transacting actives. The stock's surge is attributed to strategic moves including major layoffs aimed at boosting efficiency.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 10:27 am

AAOI

ARDX

BKNG

CAN

CPRT

INDI

MAIN

MELI

MODV

RCEL

Ardelyx, Inc. reported mixed Q4 financial results, missing EPS estimates but beating sales forecasts, leading to a 13.3% pre-market drop. Other stocks like Applied Optoelectronics, indie Semiconductor, ModivCare, Booking Holdings, MercadoLibre, Copart, AVITA Medical, Main Street Capital, and Canaan also saw pre-market declines due to various financial disappointments.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 9:50 am

CCEP

WBD

Earnings reports for February 23, 2024, include a mix of projected profits and losses across various sectors. Notable companies like Hyatt Hotels, Coca-Cola Europacific, and Warner Bros. Discovery are among those reporting. Expectations range from significant earnings per share to losses, reflecting diverse financial health and market positions.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 9:44 am

ARKK

NVDA

PATH

TWLO

Cathie Wood's ARK Innovation ETF (ARKK) has not held Nvidia (NVDA) shares since early 2023, missing out on Nvidia's significant gains driven by the AI boom. Despite Wood's prediction of the AI revolution's impact on economic growth, ARK opted to invest in less obvious AI companies like UiPath (PATH) and Twilio (TWLO), considering Nvidia overpriced. Nvidia's stock has surged 57% in 2024, significantly outperforming the S&P 500 and Nasdaq 100, after reporting impressive earnings and strong guidance.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 9:17 am

General Motors Co's (NYSE:GM) self-driving car unit, Cruise, is set to resume robotaxi testing in Texas with safety drivers in the coming weeks, following a suspension due to a pedestrian accident. Despite a reported operating loss of $3.48 billion in 2023, GM remains committed to Cruise, planning to reduce spending but continue investing in self-driving technology.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 9:02 am

Hyatt Hotels Corporation (NYSE:H) is anticipated to report lower Q4 earnings with an expected EPS of 39 cents compared to $2.55 in the previous year. Revenue is projected at $1.61 billion, slightly up from $1.59 billion. Recent analyst actions include a downgrade by Evercore ISI Group, price target adjustments by Barclays, Morgan Stanley, HSBC, and Stifel, reflecting varied expectations for the stock's performance.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 7:45 am

AER

BKNG

WBD

Warner Bros. Discovery, Block, AerCap Holdings, Booking Holdings, and Hyatt Hotels are stocks to watch. Warner Bros. is expected to report a quarterly loss, while Block reported mixed Q4 earnings but expects higher Q1 gross profit. AerCap's earnings expectations are positive. Booking reported strong Q4 earnings but its shares fell after announcing a dividend. Hyatt is anticipated to report solid quarterly earnings.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 7:35 am

SCBFF

Standard Chartered Plc (OTC:SCBFF) announced a $1 billion buyback and a final dividend of 21 cents a share after reporting a 63% increase in fourth-quarter adjusted pretax profit to $1.06 billion, beating estimates. The bank launched a 'Fit for Growth' program aiming to save $1.5 billion over three years, despite facing challenges in China and a significant stock value drop after its third-quarter earnings report.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 7:23 am