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DIS

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NFLX

ROKU

Roku, Inc. (NASDAQ:ROKU) stock fell after reporting Q4 results with higher revenue but a larger EPS loss than expected. Despite beating revenue forecasts, its EPS loss of $(0.55) was below the expected $(0.54). Roku anticipates Q1 revenue above consensus, added 4.2 million net accounts, but saw a 4% decrease in average revenue per user. Analyst Jason Helfstein downgraded Roku to Perform. Roku introduced premium TVs and partnered with GroupM for ad buying. Its success is partly tied to Netflix's ad-supported tier expansion.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 4:34 pm

TRP

TC Energy Corp (NYSE:TRP) reported Q4 results surpassing estimates with adjusted EPS of $0.99 against a consensus of $0.83, and sales of $3.11 billion over the expected $3.03 billion. The company saw significant improvements in segmented earnings and comparable EBITDA, with notable growth in U.S. and Canadian Natural Gas Pipelines. TC Energy also announced a 3.2% increase in its quarterly dividend to C$0.96 per share and maintains a positive FY24 outlook, expecting comparable EBITDA between C$11.2 billion to C$11.5 billion. Shares rose 2.02% to $39.38.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 4:33 pm

AAPL

AMAT

AMZN

NVDA

TSLA

Applied Materials (AMAT) is highlighted as a prime 'picks and shovels' play in AI, benefiting from the demand for sophisticated chips, with strong earnings pushing tech stocks higher. Producer Price Index (PPI) data came in hotter than expected, indicating persistent inflation. Early trade money flows show positive trends for NVIDIA (NVDA) and Tesla (TSLA), neutral for Alphabet (GOOG) and Microsoft (MSFT), and negative for Apple (AAPL), Amazon (AMZN), and Meta (META). The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) show mixed money flows. The article also touches on Japan's Nikkei 225 reaching a 34-year high, and the importance of maintaining a protection band in investment strategies.

Portfolio Pulse from The Arora Report

February 16, 2024 | 4:32 pm

IVA

Inventiva SA (NASDAQ:IVA) stock is trading lower after announcing a voluntary pause in screening and randomization of new patients in the NATiV3 Phase 3 trial of lanifibranor for non-alcoholic steatohepatitis (NASH) due to a treatment-related adverse reaction. This pause may extend the trial's timeline, but the company's financials remain stable with a cash runway until Q3 2024. IVA shares dropped 20.1% to $3.15.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 4:30 pm

NVS

The FDA has approved Novartis' Xolair for reducing allergic reactions in patients with IgE-mediated food allergies, based on the Phase III OUtMATCH study. This makes Xolair the first and only FDA-approved medicine for this purpose. The study showed significant improvement in patients' ability to tolerate allergens like peanuts, milk, egg, and cashew. Xolair's safety profile was consistent with previous findings, and it's now available for prescription in the US.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:28 pm

CORT

Corcept Therapeutics Incorporated (NASDAQ:CORT) announced preliminary results from its CATALYST study on Cushing's syndrome in patients with type 2 diabetes, showing a 24% prevalence rate of hypercortisolism among the first 700 patients. The company also reported a Q4 2023 EPS of $0.28, beating consensus estimates, and a revenue of $135.4 million, surpassing expectations. Corcept reiterated its FY 2024 revenue forecast of $600-$630 million, significantly above consensus estimates. Despite these positive results, CORT shares dropped 6.73% to $22.82.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 4:25 pm

DKNG

DraftKings CEO Jason Robins appeared live on CNBC to discuss the company's earnings report. The discussion likely covered financial performance, future outlook, and possibly strategic initiatives following the earnings announcement.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:22 pm

PRLD

Prelude Therapeutics shares surged following the announcement of an increase in their FY23 EPS results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:12 pm

PCOR

Procore Technologies, Inc. (NASDAQ:PCOR) exceeded Q4 earnings and sales expectations, with adjusted earnings of 17 cents per share against an estimate of 7 cents, and sales of $260.04 million versus the expected $248.27 million. The company also highlighted its achievement of surpassing $1B in total annual recurring revenue and its status as a top workplace in technology. Following the report, Piper Sandler and Keybanc raised their price targets for PCOR, with shares increasing by 0.8% to $75.18.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 4:06 pm

YETI

Analysts have provided mixed ratings for YETI Holdings (NYSE:YETI) with a recent shift towards a more cautious stance. Over the past three months, 5 analysts have offered ratings, with a current average price target of $43.6, down from $44. This reflects a slight decrease in optimism, as evidenced by adjustments in ratings and price targets by key analysts. YETI Holdings, known for its premium outdoor and recreation products, has shown strong financial performance with a notable market capitalization, revenue growth, and profitability metrics such as net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 4:00 pm