Streetbeat News

Earnings

ARW

GEN

HPQ

IMMR

SURG

The article identifies five technology sector stocks considered as value stocks due to their low P/E multiples: Immersion (IMMR), Arrow Electronics (ARW), Surgepays (SURG), Gen Digital (GEN), and HP (HPQ). It provides recent financial performance details for each, including earnings per share and dividend yields, highlighting their potential undervaluation and the inherent risks of investing in value stocks.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 2:40 pm

CMG

HLT

QSR

SPY

Bill Ackman, founder of Pershing Square Capital Management, earned $610 million in 2023, ranking him No. 7 among hedge fund founders. Pershing Square achieved a 26.7% gain with a focused portfolio of eight stocks, slightly outperforming the S&P 500 but trailing the Nasdaq 100. Top holdings include Chipotle (CMG), Restaurant Brands (QSR), and Hilton (HLT), contributing significantly to the portfolio's performance. Other notable hedge fund earners were Millennium's Izzy Englander and Citadel's Ken Griffin.

Portfolio Pulse from Piero Cingari

February 20, 2024 | 2:32 pm

During a conference call, a Home Depot executive stated that the company is preparing for a year of continued moderation, expecting slightly less pressure on comparable sales (comp sales) than what was experienced in fiscal 2023.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:30 pm

Home Depot reported a decrease in total company comp sales by 3.2% and U.S. comp sales by 3.5% for the year. In Q4, the gross margin was approximately 33.1%, a decrease of 20 basis points from the previous year. The annual gross margin was around 33.4%, down 15 basis points, aligning with expectations.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:26 pm

MDT

Medtronic Plc (NYSE:MDT) reported a 4.7% Y/Y increase in Q3 2024 sales to $8.1 billion, slightly above the consensus of $7.95 billion. The company announced exiting its unprofitable ventilator product line to focus on profitable growth in its newly combined Acute Care and Monitoring unit. Medtronic also raised its FY 2024 sales growth guidance to 4.75%-5% and adjusted EPS guidance to $5.19-$5.21, surpassing previous estimates and consensus. Shares rose 2.82% in premarket trading.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 2:24 pm

VZIO

WMT

Walmart Inc (NYSE:WMT) reported a Q4 FY24 net sales increase of 5.7% Y/Y to $173.39 billion, surpassing consensus estimates. Adjusted EPS was $1.80, also beating expectations. The company announced a dividend hike and an acquisition of VIZIO Holding Corp (NYSE:VZIO) for approximately $2.3 billion. Walmart's U.S. operations saw significant growth, with eCommerce sales up 17%. The company expects Q1 consolidated net sales growth of 4.0% to 5.0% and adjusted EPS of $1.48 - $1.56. FY25 projections include net sales growth of 3.0% to 4.0% and adjusted EPS of $6.70 - $7.12.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:21 pm

LZB

La-Z-Boy Incorporated (NYSE:LZB) is set to release its Q3 fiscal 2024 earnings on Feb. 20, 2024, with analysts expecting a decrease in earnings per share from the previous year. The company recently raised its quarterly dividend and has invested in furniture market showrooms. The article also explains how investors can earn a monthly income from La-Z-Boy's dividends, based on the current annual yield of 2.10%.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 2:21 pm

MDLZ

Mondelēz International, Inc. (NASDAQ:MDLZ) showcased its strategic progress at the 2024 CAGNY Conference, emphasizing the transformation of its North American business into a sustainable growth engine. The company highlighted improvements in manufacturing flexibility, sales execution, pricing power, and portfolio expansion in North America. With a focus on core categories like chocolate, biscuits, and baked snacks, Mondelēz aims to drive sustainable growth through strong gross profit dollar growth, local-first commercial execution, and increased investments in brands, capabilities, and talent. The North American business, contributing over 30% of net revenue and nearly 40% of operating income, is positioned as a key growth driver.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:21 pm

HSY

Hershey has reaffirmed its financial expectations for the year 2024, indicating confidence in its future performance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:18 pm

CLSK

MARA

RIOT

Shares of Bitcoin mining stocks Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading higher amid a broader cryptocurrency market rally. Bitcoin and Ethereum have reached significant price levels, with Bitcoin hitting its highest since December 2021 and Ethereum crossing $3,000. CleanSpark's better-than-expected quarterly results have contributed to the momentum in mining stocks. Riot and Marathon are expected to report their earnings soon, with specific expectations for their financial performance.

Portfolio Pulse from Adam Eckert

February 20, 2024 | 2:18 pm