Streetbeat News

Earnings

FQVLF

First Quantum Minerals reported a Q4 2023 loss of $1.44 billion, largely due to the closure of its Cobre Panama mine, leading to a 28% drop in copper production. Despite this, the company remains optimistic, implementing cost-saving measures, refinancing debt, and exploring strategic investments. The company's full-year net profit was $1.29 billion, down $900 million from 2022. Management is hopeful for the mine's future post-May general elections.

Portfolio Pulse from Stjepan Kalinic

February 21, 2024 | 7:43 pm

CYH

MAX

MOTS

PANW

THRM

UCAR

U.S. stocks traded lower with the Nasdaq Composite down 1.06%. Energy shares rose by 1.7%, while information technology shares fell by 1.7%. FOMC minutes highlighted the Federal Reserve's cautious stance on interest rate reductions. MediaAlpha, Gentherm, and Motus GI Holdings saw significant stock increases following positive financial results and patent news, respectively. Conversely, Palo Alto Networks, U Power, and Community Health Systems experienced notable declines due to disappointing guidance and financial results.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:42 pm

NVDA

NVIDIA shares are trading lower due to market volatility ahead of its Q4 earnings report.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:36 pm

NAX

MediaAlpha, Inc. (NYSE:NAX) reported better than expected Q4 results, with a GAAP loss of 5 cents per share against estimates of 18 cents and sales of $117.17 million versus estimates of $111.52 million. The company attributes the success to its Property & Casualty insurance vertical and anticipates Q1 Transaction Value to nearly double sequentially. MediaAlpha forecasts Q1 2024 revenue between $105 million and $115 million, with adjusted EBITDA between $9.5 million and $11.5 million. Following the report, shares surged 22.7% to $19.38. Analysts from Canaccord Genuity and RBC Capital raised their price targets on MediaAlpha.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:31 pm

CAVA

Market whales have shown a bullish stance on Cava Group (NYSE:CAVA), with 62% of recent options trades being bullish and 37% bearish. The trades include 6 puts and 2 calls, with a focus on a price band between $20.0 and $55.0. Cava Group's stock is currently down by -5.41%, trading at $51.25, with an RSI indicating a neutral position. The next earnings report is due in 6 days.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:30 pm

NVDA

QCOM

Qualcomm Inc (NASDAQ:QCOM) shares dropped 1.1% to $150.23 as the market anticipates NVIDIA Corp's earnings. NVIDIA's results are significant due to its influence in the AI industry, with expectations of a strong quarter. Qualcomm pays a dividend yielding 2.57% annually as of Feb. 21, 2024, and its stock performance is also influenced by buyback programs.

Portfolio Pulse from Henry Khederian

February 21, 2024 | 7:28 pm

CSGP

CoStar Group, Inc. (NASDAQ:CSGP) reported Q4 earnings above market estimates but provided weaker than expected guidance for Q1 and FY24, leading analysts to cut their price targets. Despite challenges in the commercial real estate market, CoStar achieved a 14% revenue growth and 40% profit margins in 2023. Shares rose 2.2% following the announcement.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:23 pm

MTTR

Matterport, Inc. (NASDAQ:MTTR) shares fell after reporting Q4 sales of $39.55 million, missing estimates by 1.69% and showing a 3.88% year-over-year decrease. The company met quarterly loss estimates but provided guidance indicating potential future losses and revenue that could also miss expectations. Analyst Brent Bracelin of Piper Sandler maintained a Neutral rating and a $3 price target on MTTR.

Portfolio Pulse from Erica Kollmann

February 21, 2024 | 7:21 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

PANW

QQQ

SPY

TSLA

NVIDIA Corp (NVDA) experienced a significant pullback due to extreme positive positioning, with high volume indicating a negative sentiment. The options market predicts an 11% move post-earnings. Palo Alto Networks Inc (PANW) reported earnings, causing a 24.6% drop, affecting sentiment towards NVDA. Early trade money flows show positive in Amazon (AMZN), neutral in Apple (AAPL), and negative in NVDA, Microsoft (MSFT), Alphabet (GOOG), Meta Platforms (META), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust (QQQ). Gold and oil trading are active, with SPDR Gold Trust (GLD) and United States Oil ETF (USO) being the most popular ETFs. Bitcoin sees selling due to NVDA earnings nervousness.

Portfolio Pulse from The Arora Report

February 21, 2024 | 7:20 pm

SEED

Origin Agritech's shares surged following the announcement of a 77.5% revenue growth for the fiscal year 2023.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:17 pm