Streetbeat News

Earnings

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) reported a 12% increase in Q4 revenue to $1.1 billion, surpassing the consensus estimate of $1.05 billion. The company also reported a smaller-than-expected quarterly loss of 54 cents per share, against analyst estimates of a 70 cents per share loss. Adjusted EBITDA rose 193% year-over-year to $42.5 million. Despite these positive results, attributed in part to successful Taylor Swift and Beyoncé concert films, AMC shares dropped 10.1% to $4.48. CEO Adam Aron expressed confidence in the company's future, noting efforts to optimize operations and innovate in revenue streams.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 1:38 pm

UUP

The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditure (PCE) price index for January, matched expectations, indicating progress towards the 2% inflation target. The annual PCE inflation rate slightly decreased from December's 2.6% to 2.4%, aligning with forecasts. Core PCE inflation also met expectations, with a year-on-year increase of 2.8%. Personal income in January rose by 1%, surpassing expectations, while personal spending growth slowed to 0.2%. Weekly jobless claims were slightly above expectations. Following the release, U.S. Treasury yields fell, and the U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), dipped.

Portfolio Pulse from Piero Cingari

February 29, 2024 | 1:38 pm

ENVB

OKTA

SNOW

Snowflake (SNOW) shares dropped 24% after Q4 results, guidance, and CEO transition news, with a Morgan Stanley downgrade. Okta (OKTA) surged 29% on strong Q4 results and future guidance. Enveric Biosciences (ENVB) soared 180% after announcing plans to out-license three compound classes.

Portfolio Pulse from ryanfaloona@benzinga.com

February 29, 2024 | 1:35 pm

DUOL

Duolingo, Inc. (NASDAQ:DUOL) exceeded Q4 expectations with $150.99 million in revenue and 26 cents EPS, surpassing estimates. Year-over-year, total bookings increased by 51% and paid subscribers by 57%. The company projects Q1 revenue between $164 million and $167 million, and full-year revenue between $717.5 million and $729.5 million, both above estimates. Following the report, Duolingo shares rose 0.5%, and analysts from Piper Sandler and UBS raised their price targets for DUOL.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 1:34 pm

HRL

Hormel Foods Corporation (NYSE:HRL) shares rose after reporting Q1 earnings that exceeded expectations and reaffirming its FY24 outlook. The company posted adjusted earnings per share of 41 cents, surpassing the consensus of 34 cents, with revenues of $2.997 billion against the expected $2.917 billion. Despite a 2% drop in retail net sales, volume increased across various segments, contributing to a 2% year-over-year rise in adjusted operating income. Hormel also maintained its FY24 sales and adjusted EPS forecasts, aligning with or exceeding analyst estimates.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 1:34 pm

VYNE

VYNE Therapeutics (NASDAQ:VYNE) reported Q4 earnings, beating estimates with an EPS of $-0.18 versus the expected $-0.5. Revenue increased by $70 thousand from the previous year. The company's past earnings performance showed a positive impact on its share price.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 1:30 pm

PFE

Pfizer announced that its bivalent vaccine ABRYSVO showed a 77.8% efficacy against RSV lower respiratory tract disease in adults 60 years or older through two full seasons after a single dose. This data highlights ABRYSVO's consistent high protective efficacy for both RSV A and RSV B.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:27 pm

NREF

NexPoint Real Estate (NREF) projects its Q1 2024 Economic Adjusted Debt (EAD) to be between $(0.50) and $(0.40).

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:25 pm

TJX

TJX Companies, Inc. (NYSE:TJX) reported Q4 sales surpassing expectations at $16.40 billion against the forecasted $16.21 billion. Earnings per share were $1.12, aligning with market estimates. The company announced a stock repurchase plan of $2.0 to $2.5 billion and a 13% dividend increase for 2024. FY25 earnings are projected between $3.94 and $4.02 per share, with a 2% to 3% rise in comparable store sales. Following the report, Telsey Advisory Group and BMO Capital raised their price targets for TJX.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 1:23 pm

NREF

NexPoint Real Estate (NREF) reported Q4 2023 adjusted earnings per share of $0.44, missing the consensus estimate of $0.47 by 6.38%.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:23 pm