Streetbeat News

Earnings

DASH

Financial giants are showing a bullish stance on DoorDash (NASDAQ:DASH) through options trading, with 65% of trades being bullish. The trading activity suggests a target price range of $100 to $165 for DASH in the next three months. DoorDash's current stock price is up 6.59% at $122.25, with analysts giving mixed ratings but an average target price of $134.8. The company has seen significant growth, with a 25% increase in gross order volume and a 31% increase in revenue year over year.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 6:16 pm

Dominion Energy Inc (NYSE:D) shares fell after reporting Q4 FY23 results with revenue of $3.534 billion, missing the $4.206 billion consensus, and adjusted EPS of $0.29, below the $0.38 consensus. Operating earnings dropped across all segments, and the company announced a deal to sell a 50% stake in the Coastal Virginia offshore wind project to Stonepeak for $3 billion, expected to close by end of 2024.

Portfolio Pulse from Lekha Gupta

February 22, 2024 | 6:06 pm

NEM

Newmont Corp (NYSE:NEM) shares fell after reporting Q4 FY23 results with a 24% Y/Y revenue increase to $3.957 billion and adjusted EPS of $0.50, beating consensus. Gold production rose 7% Y/Y, but higher costs and a 39% Y/Y decrease in operating cash flow were noted. The company announced a dividend of $0.25 for Q4 2023 and plans to divest six non-core assets. FY24 outlook includes gold production of 6.9 million ounces and AISC of $1,400 per ounce, with a focus on cost and productivity improvements.

Portfolio Pulse from Lekha Gupta

February 22, 2024 | 5:58 pm

CLH

Clean Harbors, Inc. (NYSE:CLH) exceeded Q4 earnings expectations with $1.82 per share against the estimated $1.69, but fell short on sales with $1.34 billion versus the expected $1.36 billion. The company anticipates 2-3% adjusted EBITDA growth in Q1. Following the report, analysts from Needham, BMO Capital, and Truist Securities raised their price targets for CLH, reflecting optimism in its financial performance and growth prospects. Clean Harbors shares slightly increased by 0.2% to $181.79.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 5:54 pm

NVDA

Shares of tech sector companies are trading higher due to overall market strength, influenced by NVIDIA's strong Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:54 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

NVIDIA Corp (NASDAQ:NVDA) reported earnings that exceeded expectations, with significant growth in AI inference shipments, indicating rapid AI adoption. The FOMC minutes were hawkish, suggesting no near-term rate cuts. Jobless claims were lower than expected, showing a strong job market. Japan's Nikkei 225 reached a 34-year high, highlighting the potential for long bear markets. Early trade showed positive money flows in major tech stocks and ETFs, while Bitcoin's sentiment was boosted by NVIDIA's earnings.

Portfolio Pulse from The Arora Report

February 22, 2024 | 5:42 pm

LCID

Lucid Group Inc (NASDAQ:LCID) reported Q4 financial results with revenue of $157.2 million, missing estimates, but a smaller loss per share than expected. The company produced 2,391 vehicles and delivered 1,734 in Q4, and issued a full-year production guidance of approximately 9,000 vehicles. Following the report, Lucid shares fell 16.8% to $3.08. Analysts from Cantor Fitzgerald and B of A Securities adjusted their price targets on Lucid Group, with Cantor Fitzgerald also downgrading the stock.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 5:40 pm

DGICB

FIHL

GOCO

HRTG

LMND

MHLD

SKWD

In Thursday's intraday session, the insurance industry saw notable movements with Fidelis Insurance Hldgs, Heritage Insurance Hldgs, Skyward Specialty, Donegal Gr, Lemonade, and GoHealth recording gains, while Maiden Hldgs, Tian Ruixiang Holdings, Cheche Group, Waterdrop, Ambac Financial Group, and Kingsway Financial Servs experienced declines. Skyward Specialty and Donegal Gr's movements were influenced by their Q4 earnings releases.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:40 pm

SHYF

The Shyft Group, Inc. (NASDAQ:SHYF) shares rose after reporting Q4 adjusted EPS of $(0.03), beating analyst expectations of $(0.04) loss. Quarterly sales of $202.333 million also surpassed estimates, despite a 33% year-over-year decline. The company's backlog decreased by 50.9% year over year, with significant drops in Fleet Vehicles and Services and Specialty Vehicles sales. The FY24 sales outlook is set between $850 million to $900 million, with adjusted EPS projected at $0.28 to $0.51, slightly below the $0.50 estimate. SHYF shares increased by 4.14% to $11.46.

Portfolio Pulse from Nabaparna Bhattacharya

February 22, 2024 | 5:40 pm

CCL

CUK

NCLH

RCL

Cruise stocks are trading higher after Royal Caribbean Group announced an increase in its 2024 guidance, citing demand and bookings exceeding expectations. This positive outlook has influenced the broader cruise sector, including Carnival Corporation & plc and Norwegian Cruise Line Holdings Ltd.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:39 pm