Streetbeat News

Earnings

LMT

Lockheed Martin Corp. (NYSE:LMT) announced a potential delay in the delivery of the TR-3 version of its F-35 fighter jets due to software issues, causing its stock to drop by 3.9%, the largest decline in over four months. Despite surpassing fourth-quarter earnings estimates with $18.87 billion in sales, Lockheed predicts a 6.5% decrease in earnings for 2024. The Pentagon is withholding $7 million in payment for each F-35 in storage until the software and hardware upgrades are completed.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 10:52 am

DEC

DWAC

DXC

PLUG

SGMT

TXN

Texas Instruments Incorporated (NASDAQ:TXN) reported Q4 earnings of $1.49 per share, slightly above expectations but a 30.05% decrease from the previous year. Sales were $4.08 billion, missing the $4.12 billion estimate. The company forecasts Q1 revenue well below the $4.06 billion estimate, causing shares to drop 3.7% in pre-market trading. Other stocks such as BlackBerry Limited (NYSE:BB), Diversified Energy Company PLC (NYSE:DEC), Digital World Acquisition Corp. (NASDAQ:DWAC), Sagimet Biosciences Inc. (NASDAQ:SGMT), Plug Power Inc. (NASDAQ:PLUG), and DXC Technology Company (NYSE:DXC) also experienced pre-market losses.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 10:12 am

ASML

FCX

TSLA

Earnings reports for January 24, 2024, are scheduled for a wide range of companies across various industries. The reports include a mix of expected profits and losses, with key players like Freeport-McMoRan, General Dynamics, ASML Holding, and Tesla among those reporting. Investors will be closely watching these earnings releases to gauge company performance and sector health.

Portfolio Pulse from Benzinga Insights

January 24, 2024 | 10:11 am

TSLA

Tesla, Inc. (TSLA) is anticipated to report a decline in Q4 profit with modest revenue growth. Analysts expect $25.58 billion in revenue and 74 cents in adjusted EPS, compared to last year's $24.32 billion and $1.19 EPS. Fund Manager Gary Black predicts a core auto gross margin of 16.1% and 73 cents adjusted EPS for Q4. Key factors include Q4 auto gross margins excluding regulatory credits and 2024 delivery guidance. Tesla faces demand challenges amid global economic uncertainty, with recent price cuts in China and Europe potentially affecting margins. TSLA stock has declined, trading at $212 in premarket, down from its peak of $414.50 in November 2021.

Portfolio Pulse from Shanthi Rexaline

January 24, 2024 | 9:54 am

ABT

IBM

JNJ

MMM

TSLA

The S&P 500 reached a new all-time high, while the Dow Jones ended its winning streak. 3M (MMM) shares dropped after issuing weak FY24 EPS guidance despite better Q4 earnings. Verizon (VZ) rose on strong Q4 results, and Johnson & Johnson (JNJ) also reported better-than-expected earnings. Investors are looking forward to earnings from Tesla (TSLA), Abbott Laboratories (ABT), AT&T (T), and IBM. The Fear and Greed index indicated increased market optimism, remaining in the 'Greed' zone.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 8:50 am

NFLX

Netflix Inc. (NASDAQ:NFLX) has indicated potential price hikes in the future to reflect improvements in the service, as mentioned in their shareholder letter post Q4 results. The company reported Q4 revenue of $8.83 billion and added 13.12 million net paying subscribers. Netflix has ended new subscriptions for its 'Basic' ad-free plan and is phasing it out in the UK and Canada. Co-CEO Ted Sarandos expressed satisfaction with the crackdown on password sharing and sees gaming as a significant opportunity, highlighted by the success of the Grand Theft Auto trilogy. Netflix will also add World Wrestling Entertainment to its platform in 2025.

Portfolio Pulse from Rounak Jain

January 24, 2024 | 8:49 am

ABT

ISRG

NFLX

TSLA

U.S. stock futures are trading higher, with investor focus on AT&T, Netflix, Tesla, Intuitive Surgical, and Abbott Laboratories ahead of their earnings reports. AT&T is expected to report earnings of 56 cents per share on revenue of $31.48 billion. Netflix reported better-than-expected Q4 sales and a surge in subscribers, causing its shares to jump 8.7%. Tesla is anticipated to post earnings of 74 cents per share on revenue of $25.59 billion. Intuitive Surgical reported better-than-expected Q4 results, with shares rising 6.1%. Abbott Laboratories is expected to report earnings of $1.19 per share on revenue of $10.18 billion.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 7:36 am

LPL

LG Display reported a 1% year-over-year increase in Q4 revenue to KRW 7.396 trillion, with a net income of KRW 51 billion, recovering from a net loss of KRW 2.094 trillion in the same quarter the previous year. The revenue growth was attributed to a 55% quarter-on-quarter increase due to higher panel shipments for OLED mobile devices, TVs, and IT products.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:34 am

NFLX

Netflix Inc. (NASDAQ:NFLX) is exploring the expansion of its gaming portfolio following the success of Grand Theft Auto Trilogy on its platform. Co-CEO Greg Peters highlighted the game's high download and engagement numbers, which surpassed expectations and led to a threefold increase in game engagement over the past year. Netflix sees a $140 billion consumer spend opportunity in gaming, excluding China and Russia. The company plans to continue investing in gaming, with a focus on licensing existing games, some with exclusivity, as part of its strategy. Peters mentioned the possibility of adding popular titles like Candy Crush or Fortnite. Netflix also discussed a crackdown on password sharing, which has increased engagement and new user sign-ups, and its venture into sports entertainment through a partnership with WWE.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 7:34 am

NFLX

Netflix, Inc. (NASDAQ:NFLX) reported strong Q4 results, surpassing expectations with high net paid subscriber additions and revenue. The company raised its Q1 operating margin guidance, leading to an 8.66% increase in after-hours trading. Jim Cramer and Ross Gerber praised the results, with Gerber highlighting the impact of the ad-supported tier and password sharing crackdown. KeyBanc's Justin Patterson maintained an Overweight rating on Netflix and increased the price target from $545 to $580, citing potential for sustained growth and positive impact from ad monetization and price increases.

Portfolio Pulse from Shanthi Rexaline

January 24, 2024 | 7:00 am