Streetbeat News

Earnings

AMZN

GOOG

GOOGL

META

SNAP

Snap Inc's Q4 revenue missed estimates, causing its stock to plummet over 35%. Despite beating earnings per share estimates, analysts remain cautious, awaiting consistent execution. The company faces challenges from infrastructure investments, rising marketing expenses, and competition from larger platforms like Alphabet, Meta Platforms, and Amazon.com. Analysts from JPMorgan, Stifel, Truist Securities, and Oppenheimer provided mixed outlooks, highlighting the need for improved execution and market share recovery.

Portfolio Pulse from Surbhi Jain

February 07, 2024 | 7:55 pm

LLY

Eli Lilly (NYSE:LLY) reported a Q4 2023 revenue of $9.35 billion, a 28% increase Y/Y, surpassing the consensus of $8.93 billion. This growth was driven by higher prices, increased volume, and favorable foreign exchange rates. New Products revenue, led by Mounjaro and Zepbound, grew to $2.49 billion. The company also announced positive results from the SYNERGY-NASH Phase 2 study of tirzepatide. However, Verzenio did not meet its primary endpoint in the CYCLONE-2 study. Analysts from BMO Capital, Morgan Stanley, BofA Securities, and Truist have raised their price targets for LLY, citing strong growth potential and recent successes.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 7:49 pm

AMGN

Amgen Inc (NASDAQ:AMGN) reported a 15% increase in Q4 2023 adjusted net profit to $4.71, surpassing the consensus of $4.62, driven by a 20% increase in revenues to $8.2 billion. The growth was partially offset by higher operating expenses. Product sales, including $954 million from the Horizon Therapeutics acquisition, grew 20%. Amgen expects adjusted EPS of $18.90-$20.30 and revenue of $32.4 billion-$33.8 billion. Investors are keen on Amgen's obesity drug data, with Phase 1 and 2 study results expected in 2024. Analysts have adjusted price targets, reflecting various outlooks on the company's performance and potential.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 7:36 pm

AVNW

GLT

HOLO

SNAP

TCS

TGI

YUM

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Yum! Brands reported disappointing Q4 results, missing sales and EPS estimates. MicroCloud Hologram, Glatfelter Corporation, and Aviat Networks saw significant stock price increases, while Triumph Group, The Container Store Group, and Snap Inc. experienced notable declines. Oil prices rose, while gold remained mostly flat.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 7:32 pm

CHKP

Analysts have mixed views on Check Point Software Technologies Ltd (NASDAQ:CHKP), with price targets adjusted amidst solid revenue growth and market share concerns. Mizuho maintains a Neutral stance, raising the price target to $160, citing slight revenue growth exceedance and a solid initial outlook for 2024 despite market share loss. Wedbush and Truist express more optimism, raising their price targets to $185 and $175, respectively, highlighting cross-sell opportunities and a positive outlook. Susquehanna is bullish, increasing the target to $200, praising technological leadership. KeyBanc maintains a Sector Weight rating, pointing to valuation and margin pressure.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 7:31 pm

AMD

NVDA

SMCI

Morgan Stanley analyst Joseph Moore has reiterated an Overweight rating on Nvidia Corp (NVDA) and increased the price target to $750 from $603, citing significant growth and robust near-term results. Despite initial concerns, Nvidia's valuation and demand for GPU cloud instances indicate exceptional results in the coming quarters. Advanced Micro Devices, Inc (AMD) and Super Micro Computer, Inc (SMCI) also contributed to Nvidia's strong performance. Moore projects FY24 revenue and EPS significantly higher than previous estimates.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 7:10 pm

APTV

Morgan Stanley downgraded Aptiv PLC (NYSE:APTV) to Underweight from Equal-Weight and lowered its price target to $74 from $90, following Aptiv's Q4 FY23 results. The company reported a 6% year-over-year net sales growth to $4.92 billion, missing the consensus of $5.07 billion, but its adjusted EPS of $1.40 beat the consensus of $1.33. Aptiv's FY24 net sales forecast is $21.3 billion-$21.9 billion versus the consensus of $21.61 billion, with adjusted EPS of $5.55 – $6.05 against the consensus of $5.78. The downgrade reflects concerns over slowing EV demand and OEMs' willingness to produce them, impacting Aptiv's growth-over-market assumption.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 7:08 pm

EGAN

eGain (NASDAQ:EGAN) is scheduled to release its quarterly earnings report on February 8, 2024, with analysts expecting an EPS of $0.08. The company's past earnings performance shows a mixed impact on its stock price, with the last quarter resulting in an 8.29% increase following an EPS beat. Shares are currently trading at $7.76, down 19.34% over the last year. Investors are looking for positive guidance for the next quarter.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 7:02 pm

SRTS

Sensus Healthcare (NASDAQ:SRTS) is scheduled to release its quarterly earnings report on February 8, 2024. Analysts predict an EPS of $0.12. The company's past earnings performance shows a mixed impact on its stock price, with the last quarter missing EPS estimates by $0.07, leading to a 14.41% drop in share price. Over the last year, SRTS shares have declined by 59.44%. Investors will be closely watching for not only the earnings results but also the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 7:02 pm

EMKR

EMCORE (NASDAQ:EMKR) is scheduled to release its quarterly earnings report on February 8, 2024, with an estimated EPS of $-0.02. Analysts and investors are keen on whether EMCORE will surpass this estimate and provide positive guidance for the next quarter. The company's past earnings performance shows a mix of beats and misses, with significant price changes following the announcements. EMCORE's stock has been trading at $0.65 as of February 6, reflecting a 53.74% decline over the last 52 weeks, indicating potential concern among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 7:01 pm