Streetbeat News

Earnings

STM

STMicroelectronics (NYSE:STM) reported Q4 earnings of $1.14 per share, surpassing the consensus estimate of $0.95 by 20%. However, the company experienced a 13.64% decrease in earnings compared to $1.32 per share from the same period last year. Quarterly sales were $4.28 billion, slightly missing the estimate of $4.31 billion by 0.70% and marking a 3.21% decrease from $4.42 billion in the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:04 am

FBMS

First Bancshares (NASDAQ:FBMS) reported Q4 adjusted EPS of $0.59, missing the consensus estimate of $0.68, and sales of $57.66M, below the expected $58.42M. This represents a 16.9% decrease in EPS and a 20.33% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 5:51 am

FDBC

Fidelity D & D Bancorp (NASDAQ:FDBC) experienced a significant decline in its Q4 earnings and sales year-over-year. Earnings per share dropped by 93.65% to $0.08 from $1.26, while sales decreased by 33.02% to $14.90M from $22.25M.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 5:47 am

TSLA

During Tesla's Q4 earnings call, CEO Elon Musk stated that Tesla has not yet entered into any licensing agreements for its Full Self-Driving (FSD) software with rival automakers. Musk suggested that competitors may not believe in the technology's viability. Tesla's Q4 revenue increased by 3% year-on-year to $25,167 million, but was affected by lower FSD revenue compared to the previous year. Musk anticipates a significant revenue increase once FSD is approved by regulators.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 5:05 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), indicated optimism about shipping some units of the Optimus humanoid robot in the next year. He acknowledged the uncertainty in making precise predictions and mentioned that Tesla is focused on making Optimus safer and capable of doing generalized tasks. No timeline was provided for deploying the robot in Tesla factories during the Q4 earnings call.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 4:31 am

TSLA

Tesla Inc (NASDAQ:TSLA) maintained its Bitcoin reserves in Q4 2023, with no purchases or sales, holding steady at $184 million. Tesla ranks fourth among public companies in Bitcoin holdings. Despite a revenue increase, Tesla missed Q4 revenue and EPS estimates, with shares down 3% in after-hours trading. Bitcoin was trading at $40,060, up 0.52%.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 3:43 am

TSLA

Morgan Stanley analyst Adam Jonas maintains an overweight rating on Tesla Inc (TSLA) with a $345 price target. Despite Tesla's warning of lower volume growth in 2024, Jonas did not find new information in the Q4 call to change the bearish sentiment. He expects delivery growth to drop to 15% in 2024, down from 38% in 2023. Jonas cites potential AI developments and higher than expected capex as reasons not to bet against Tesla's shares. He adjusted revenue estimates for FY24 to $106 billion with a higher automotive gross profit and operating margin. Tesla shares closed down 0.6% and fell about 6% after hours.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 3:36 am

BTCUSD

DOGEUSD

ETHUSD

HNTUSD

PENDLEUSD

Cryptocurrencies traded mixed amid macroeconomic concerns, with Bitcoin slightly up and Ethereum down. The U.S. dollar index rebounded, reducing expectations for interest rate cuts. The S&P 500 and Nasdaq ended positively, while the Dow Jones fell. Analysts suggest Bitcoin is nearing a critical support level and whales continue to accumulate despite market corrections.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 3:15 am

BYDDF

LGEIY

PCRFF

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), during an earnings call, highlighted the competitive edge of Chinese automakers, particularly noting their potential to 'demolish' global rivals if not for trade barriers. Musk acknowledged BYD (OTC:BYDDF) (OTC:BYDDY) as a key battery supplier, along with Panasonic (OTC:PCRFF) (OTC:PCRFY), CATL, and LG (OTC:LGEIY), and plans to increase orders in 2024. Despite Tesla's revenue increase to $25.17 billion in Q4, it fell short of expectations. The rise of Chinese EV makers like BYD, which outsold Tesla in the last quarter, is intensifying competition, prompting Tesla to reduce prices in China and Europe.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 3:10 am

TSLA

Tesla Inc's energy generation and storage segment saw a Q4 revenue decline to $1,438 million, a 7.8% drop from the previous quarter, due to lower energy storage deployments. Despite this, annual revenue for the segment increased by 54% to $6,035 million. Conversely, Tesla's automotive revenues reached a yearly high in Q4 at $21,563 million, a 9.9% increase from Q3. Tesla anticipates that in 2024, the growth rate of its energy storage business will surpass that of its automotive sector. The company is focusing on ramping up its Megafactory in Lathrop, California, which is expected to produce 10,000 Megapack units annually, equating to 40 GWh of energy storage.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 2:52 am