Streetbeat News

Earnings

NVDA

Tom Lee of Fundstrat Global Advisors highlighted the significance of Nvidia's upcoming earnings report as a key indicator of market strength and potential insight into enterprise spending trends in AI. Despite predictions of significant Q4 earnings for Nvidia, there's uncertainty about the stock's reaction post-earnings, with possibilities of a sell-off or a pullback. The report is also seen as a crucial piece in understanding AI monetization acceleration, following trends from other tech giants.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 7:25 am

CALT

Calliditas Therapeutics (NASDAQ:CALT) reported Q4 earnings with losses of $(0.06) per share, surpassing the $(0.07) estimate, and sales of $42.41M, exceeding the $35.86M estimate. This represents a 392.31% increase in losses from the previous year but a 5.19% increase in sales.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:05 am

BYON

Beyond (NYSE:BYON) reported Q4 adjusted EPS of $(1.22), missing the $(0.73) estimate, and sales of $384.46M, beating the $346.02M estimate. This represents a significant decrease in EPS and a slight decrease in sales from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 6:51 am

GATO

Gatos Silver (NYSE:GATO) reported Q4 earnings of $0.18 per share, surpassing the analyst consensus estimate of $0.10 by 80%. This represents a 1700% increase from the $0.01 per share reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 6:50 am

ADI

Analog Devices, Inc. (NASDAQ:ADI) is anticipated to report lower Q1 earnings before the opening bell on Feb. 21, 2024, with expected earnings of $1.71 per share, down from $2.75 per share year-ago. Revenue is projected at $2.50 billion. The company recently appointed Richard C. Puccio, Jr. as CFO. Shares rose 0.6% to close at $189.40. Analyst ratings vary, with price targets ranging from $175 to $215.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 6:40 am

WIX

Wix.com forecasts for 2024 include total bookings of $1.78B-$1.81B and revenue of $1.73B-$1.76B, surpassing the consensus of $1.75B. Q1 revenue is expected to be $415M-$419M, aligning with the $416.55M consensus. The company anticipates a 12-14% year-over-year growth in bookings, with a stronger acceleration in the second half, particularly in Creative Subscription bookings. Revenue growth is expected to be 11-13% year-over-year. Wix.com also projects significant operating leverage, gross profit growth due to margin improvements, and expects to achieve GAAP profitability with a second consecutive year of GAAP net income. Free cash flow is forecasted at $370M-$400M, with capital expenditures of $7M-$10M, excluding new headquarters costs.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 6:28 am

WIX

Wix.com reported Q4 adjusted earnings of $1.22 per share, surpassing the $0.95 estimate, and sales of $403.77M, slightly above the $402.83M estimate. This represents a significant increase from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 6:09 am

GM

General Motors Co (NYSE:GM) has issued a stop sale order for all 2024 Chevrolet Colorado and GMC Canyon midsize trucks due to software quality issues. This is the second stop sale in three months, with a previous issue affecting the 2024 Chevrolet Blazer EVs. The company has implemented a fix and expects the hold to be lifted shortly. GM's CEO Mary Barra acknowledged the disappointment caused to customers and emphasized the company's commitment to resolving software issues. GM reported a 14% increase in U.S. vehicle deliveries last year, totaling 2.6 million vehicles.

Portfolio Pulse from Anan Ashraf

February 21, 2024 | 5:58 am

RIO

Rio Tinto reported a decrease in both adjusted earnings per share and sales for the fiscal year. Adjusted EPS fell to $7.25 from $8.20 YoY, and sales dropped to $54.04B from $55.55B YoY.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:47 am

NVDA

Macro strategist Peter Tchir warns that Nvidia's upcoming earnings report could trigger a 5-10% stock market crash if it disappoints. The market has high expectations, with options traders anticipating an 11% upside. Despite a 529% increase in Nvidia's stock price due to demand in AI and gaming, there's concern that even with good earnings, there may not be buyers, leading to a potential pullback.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 4:43 am