Streetbeat News

Earnings

CAVA

CAVA Group projects a positive fiscal 2024 outlook with adjusted EBITDA expected to be between $86M-$92M. The company anticipates 3%-5% same restaurant sales growth, 22.7%-23.3% restaurant-level profit margin, and plans to open 48 to 52 new restaurants. Pre-opening costs are estimated to be $11.5M-$12.5M.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:33 am

CAVA

Cava Group (NYSE:CAVA) reported a significant improvement in Q4 earnings, posting $0.02 EPS, up from a loss of $(13.72) YoY. Sales reached $177.17M, exceeding the $174.29M estimate and marking a 36.36% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:24 am

PAC

Grupo Aeroportuario del (NYSE:PAC) reported Q4 earnings of $2.29 per share, missing the $2.44 estimate, but sales of $520.62M exceeded the $454.94M estimate, marking a 27.73% increase over the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:22 am

ADTN

Adtran (NASDAQ:ADTN) reported a significant miss in Q4 adjusted EPS at $(1.09) versus the $(0.11) estimate and a slight miss in sales at $225.48M against the $228.30M estimate. This represents a drastic decrease in earnings and a 37.06% drop in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:14 am

LOW

Lowe's Companies, Inc. (NYSE:LOW) is anticipated to report lower earnings for Q4 before the opening bell on Feb. 27, 2024, with expected earnings of $1.68 per share compared to $2.28 per share a year ago, and projected quarterly revenue of $18.45 billion down from $22.45 billion. The company recently appointed Margi Vagell as executive vice president, supply chain. Analysts have mixed views, with ratings ranging from Market Perform to Overweight and price targets between $215 and $265.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 5:50 am

JPM

JPMorgan CEO Jamie Dimon expressed concerns about a potential U.S. recession at the JPMorgan High Yield and Leveraged Finance Conference, citing factors like the market's optimistic 'soft landing' pricing, Federal Reserve's quantitative tightening, and fiscal spending deficits. Despite these concerns, Dimon does not foresee systemic issues or a crisis akin to 2008 but warns of possible real estate problems and challenges for some banks if a recession occurs. He also mentioned the impact of fintech competition and regulatory burdens on traditional banks but remains optimistic about AI's potential.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 4:57 am

HIMS

MARA

RIOT

TSLA

ZM

Bitcoin's surge above $55K positively impacted Marathon Digital Holdings Inc (MARA) and Riot Platforms Inc (RIOT), with significant stock gains. Zoom Video Communications Inc (ZM) saw a slight decline despite strong Q4 earnings. Hims & Hers Health, Inc. (HIMS) and Tesla Inc. (TSLA) also experienced stock increases, attributed to positive earnings and expansion news, respectively. U.S. indices closed lower, with the Dow Jones, S&P 500, and Nasdaq all experiencing declines.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 2:26 am

DPZ

PANW

UNH

Jim Cramer, host of CNBC's 'Mad Money,' advises investors to remain bullish despite market uncertainties, highlighting companies like Domino's Pizza and Palo Alto Networks for their strong performance. He attributes stock rises to companies outperforming expectations and adapting well to challenges, rather than irrational market behavior. Cramer's perspective comes amid a record-breaking market rally in 2024, with a mix of optimism and caution among traders.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 1:46 am

ARKK

NVDA

Cathie Wood, founder of ARK Invest, defended the sale of Nvidia (NVDA) shares by highlighting the fund's early investment in NVDA at around $5 in 2014 and the substantial profits made since then. Despite selling nearly $4 million worth of NVDA shares after a post-earnings rally, Wood emphasized ARK's successful early investment strategy. NVDA shares have surged 236.5% over the past 12 months, significantly outperforming ARK's flagship fund, ARK Innovation ETF (ARKK), which has seen much lower returns. ARK's decision to sell NVDA shares has been criticized, especially as NVDA's value soared, adding $273 billion in a single day after its latest earnings beat.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 1:30 am

VTS

Vitesse Energy (NYSE:VTS) reported Q4 2023 earnings of $0.52 per share, surpassing the consensus estimate of $0.43 by 20.93%. Quarterly sales reached $69.30 million, exceeding expectations of $61.81 million by 12.12%.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:43 pm