Streetbeat News

Earnings

ADM

DWAC

GILD

RVSN

SGMT

VIRI

U.S. stocks saw gains with the Dow Jones rising over 100 points. Industrials shares led the gains, while utilities fell. Archer-Daniels-Midland Company (ADM) shares plunged after placing its CFO on leave and revising its FY23 EPS outlook downwards. Sagimet Biosciences (SGMT) and Rail Vision (RVSN) surged on positive developments. Digital World Acquisition Corp. (DWAC) rose after Trump's endorsement by Florida Gov. Ron DeSantis. Virios Therapeutics (VIRI) and Gilead Sciences (GILD) fell on negative clinical and study results.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 7:19 pm

LUV

UAL

United Airlines Holdings Inc (UAL) and Southwest Airlines Co (LUV) are set to report their Q4 earnings on Jan. 22 and Jan. 25, respectively. Both airlines have operational and financial differences, with United serving a global market with diverse fleet and Southwest focusing on domestic flights with a streamlined fleet. United has a market cap of $12.8 billion and Southwest $17.9 billion. United's net income on a TTM basis is $2.86 billion with $52.49 billion in revenue, while Southwest's is $497 million with $25.44 billion in revenue. United's covered ratio is 3.05, higher than Southwest's 1.34. Analyst consensus estimates suggest United could offer a 60.33% upside, while Southwest may see an 8.8% downside.

Portfolio Pulse from Surbhi Jain

January 22, 2024 | 7:13 pm

AMZN

Benchmark analyst Daniel L. Kurnos maintains a Buy rating on Amazon (NASDAQ:AMZN) and raises the price target from $170 to $175, anticipating a strong fourth quarter for fiscal 2023. Kurnos highlights the potential of Prime Video Ads and expects steady growth in AWS, projecting revenue and EPS slightly below consensus. Amazon's retail segment is expected to show healthy margin expansion and share gains, with AWS potentially benefiting from generative AI cloud costs.

Portfolio Pulse from Anusuya Lahiri

January 22, 2024 | 7:04 pm

PAGS

Goldman Sachs analyst Tito Labarta upgraded PagSeguro Digital Ltd (NYSE:PAGS) to Neutral from Sell and increased the price target to $13.8 from $7.40. Labarta forecasts low double-digit TPV growth throughout 2024, improved revenue growth quarter-over-quarter, and a stabilization of net margin due to declining interest rates. The analyst expects higher loan book and deposit base growth, but with caution on unsecured credit. Despite concerns over declining take rates due to lower interest rates and competition, the outlook for Brazil's Payment Technology sector is slightly more favorable. Labarta predicts Q4 FY23 recurring earnings of R$487 million and TPV of R$104.8 billion, both exceeding consensus. PAGS shares rose 0.95% to $12.72.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 7:03 pm

MMM

3M (NYSE:MMM) is expected to release its quarterly earnings report on Tuesday, 2024-01-23, with an estimated EPS of $2.31. Investors are looking for an earnings beat and positive guidance for the next quarter. In the past, 3M's stock price has not always correlated with earnings performance, sometimes dropping after an EPS beat. Shares are currently trading at $107.76, down 6.24% over the last 52 weeks. The upcoming earnings report could influence investor sentiment, especially considering the recent negative returns.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 7:00 pm

ADM

AMD

DIA

GILD

IWM

QQQ

SPY

TLT

TSLA

WDC

XLI

XLU

U.S. stock indexes hit all-time highs with the S&P 500 reaching 4,850 points, Nasdaq 100 at 17,365, and the Dow Jones briefly touching 38,000. Small caps outperformed, with the iShares Russell 2000 ETF (IWM) rising 1.7%. Treasury yields eased, benefiting the iShares 20+ Year Treasury Bond ETF (TLT), which rose 0.6%. Gold fell, oil prices soared, and Bitcoin tumbled. SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones (DIA), and Invesco QQQ Trust (QQQ) all rose 0.3%. Industrials Select Sector Fund (XLI) outperformed, while Utilities Select Sector Fund (XLU) lagged. AMD fell after a downgrade, Tesla dropped due to a stalling EV outlook, ADM plummeted amid an investigation, GILD fell after a trial failure, and WDC rose on business separation plans. Key earnings reports are anticipated this week from companies like GE, JNJ, RTX, PG, VZ, LMT, NFLX, TXN, ISRG, and more.

Portfolio Pulse from Piero Cingari

January 22, 2024 | 6:35 pm

NWE

NorthWestern Energy Group (NASDAQ:NWE) has been evaluated by 4 analysts in the past three months, with mixed opinions. The average 12-month price target is now $49.5, down from $53.50, indicating a 7.48% decrease. Analysts from Barclays, Guggenheim, Ladenburg Thalmann, and Wells Fargo have provided updates, with price target adjustments reflecting a cautious outlook on the company's performance. NorthWestern Energy Group operates in the electricity and natural gas sectors, with recent financial challenges including a revenue decline of -4.17% and below-average net margin and ROE.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 6:01 pm

Verizon Communications (NYSE:VZ) is expected to report a decline in Q4 earnings with an EPS of $1.07, down 10.1% from the previous year, and revenues around $34.6 billion, a 2% decrease. The company faces challenges with a $5.8 billion write-down in its wireline division due to competition and a shift to wireless services. However, Verizon's wireless division shows strong growth and the C-Band spectrum is anticipated to be a 'game changer' for 5G networks. Analysts remain bullish with most recent ratings being Strong Buy or Buy, and the stock has a high dividend yield of 6.84%.

Portfolio Pulse from Neil Dennis

January 22, 2024 | 5:49 pm

GWAV

Greenwave Technology Solutions, Inc. (GWAV) reported over $9M in revenue for Q4 2023, marking a 10% increase from Q3 2023. The company, which operates metal recycling facilities, expects significant revenue growth in FY 2024 following recent capital investments in equipment and technology to improve operations and margins. These developments come after the commencement of new processing equipment at its Virginia facility.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:34 pm

ADSK

Autodesk Inc. (NASDAQ:ADSK) stock rose by 0.65% in the current session, trading at $250.26. Over the past month, the stock has increased by 2.04%, and over the past year, by 21.15%. The company's P/E ratio is lower than the Software industry average, suggesting it could be undervalued or expected to underperform.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:30 pm