Streetbeat News

Earnings

CIBR

CRWD

PANW

ZS

Palo Alto Networks Inc (PANW) shares are recovering after a drop due to weak earnings guidance and CEO comments on client 'spending fatigue'. Despite this, the cybersecurity sector, including rivals CrowdStrike (CRWD) and Zscaler (ZS), remains a priority for investors, buoyed by regulatory changes and the increasing use of AI in cyber attacks. Analysts and high-profile investors remain bullish on PANW, and the First Trust NASDAQ Cybersecurity ETF (CIBR) continues to perform well.

Portfolio Pulse from Neil Dennis

February 28, 2024 | 1:52 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) is in focus ahead of its Q4 earnings report, expected to post a loss of 70 cents per share with $1.046 billion in revenue. Despite beating estimates in the past five quarters, AMC shares have declined over 90% in the last year. The Q4 results will include earnings from Taylor Swift and Beyonce concert films, which may have boosted ticket prices. Analysts have mixed views, with an average price target of $9, suggesting an 85.95% upside.

Portfolio Pulse from Adam Eckert

February 28, 2024 | 1:50 pm

FSLR

First Solar, Inc. (NASDAQ:FSLR) shares surged over 6% in premarket trading following the release of their Q4 results, which showcased earnings of $3.25 per share, beating analyst estimates. Despite a miss on quarterly sales expectations, the company reported significant year-over-year growth in net income and gross profits. First Solar also provided optimistic guidance for 2024, with expected earnings per share and net sales that align closely with analyst estimates. Additionally, Oppenheimer analyst Colin Rusch upgraded the price target for FSLR from $268 to $269.

Portfolio Pulse from Nabaparna Bhattacharya

February 28, 2024 | 1:44 pm

HD

LOW

Home Depot Inc (NYSE:HD) reached a new 52-week high of $375.80, potentially driven by optimism in the home improvement sector following Lowe's Companies Inc (NYSE:LOW) Q4 earnings beat. Lowe's reported a 5.36% EPS surprise and a 0.82% revenue surprise. Home Depot also reported a positive Q4 with a 1.81% EPS surprise and a 0.42% revenue surprise. Analysts have revised price targets for HD, with most maintaining a positive outlook despite the stock's current high levels suggesting limited short-term growth potential.

Portfolio Pulse from Surbhi Jain

February 28, 2024 | 1:40 pm

CETX

Cemtrex Inc. (NASDAQ:CETX) issued a shareholder letter providing a corporate update, highlighting restructuring efforts, investments, and financial performance. The letter, from CEO Saagar Govil, discusses the company's exit from certain businesses, the promising outlook of its Security and Industrial segments, and significant improvements in financial metrics. The company owns Vicon Industries and Advanced Industrial Services, which have shown strong sales growth and operational improvements. The letter emphasizes Cemtrex's focus on generating higher returns than the S&P 500 and the potential for future growth.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:38 pm

BYND

Beyond Meat Inc (NASDAQ:BYND) shares surged following its Q4 financial results, despite a revenue decrease of 7.8% year-over-year to $73.7 million, beating estimates but with a larger-than-expected loss per share. The company announced initiatives for sustainable operations and profitable growth, including cost-cutting and a leaner operating structure. Beyond Meat expects Q1 revenue between $70 million and $75 million, and full-year 2024 revenues between $315 million and $345 million. The stock's jump is attributed to positive investor reaction to the company's cost-cutting measures and a high short interest in the stock.

Portfolio Pulse from Adam Eckert

February 28, 2024 | 1:35 pm

BYND

FLYW

IXHL

Beyond Meat, Flywire, and Incannex have seen significant stock price movements following their latest financial and clinical trial results. Beyond Meat reported mixed Q4 results, Flywire exceeded Q4 expectations, and Incannex announced positive results from a Phase 2 clinical trial.

Portfolio Pulse from ryanfaloona@benzinga.com

February 28, 2024 | 1:33 pm

SPY

The PCE Prices for Q4 showed an increase of 1.8%, slightly above the estimated 1.7%. This indicates a higher than expected inflation rate.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:31 pm

ALTM

LZM

NEM

The article highlights the top 3 materials stocks that are currently oversold according to their RSI values, suggesting potential buying opportunities. Arcadium Lithium plc (ALTM) reported better-than-expected quarterly earnings, Newmont Corporation (NEM) announced a 24% Y/Y increase in fourth-quarter revenue, and Lifezone Metals Limited (LZM) revealed a development plan for the Kabanga Nickel Project. Despite positive developments, all three stocks have seen recent declines in their stock prices.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 1:31 pm

IAS

Integral Ad Science's shares dropped following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:31 pm