Streetbeat News

Earnings

AER

AXTI

MNPR

MRVI

SMSI

SQNS

UPLD

U.S. stocks showed mixed performance with the Dow Jones and S&P 500 rising, while energy shares fell. AerCap Holdings reported better-than-expected Q4 earnings, while AXT, Inc., Maravai LifeSciences, and Monopar Therapeutics saw significant stock price increases after positive financial results or preclinical data announcements. Conversely, Sequans Communications, Smith Micro Software, and Upland Software experienced substantial declines in their stock prices due to negative business developments or earnings reports. Crude oil prices dropped by 2.3%.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 5:26 pm

SMSI

Smith Micro Software's shares dropped following the announcement of disappointing Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:24 pm

WKC

World Kinect shares surged following the announcement of Q4 adjusted EPS results that exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:22 pm

BLMN

Bloomin' Brands, Inc. (NASDAQ:BLMN) shares rose after reporting Q4 adjusted earnings per share of 75 cents, surpassing the expected 69 cents, despite slightly missing revenue forecasts with $1.194 billion against $1.198 billion expected. The company announced the closure of 36 underperforming restaurants, a quarterly dividend of $0.24 per share, and a new $350 million share repurchase program. FY24 adjusted EPS is projected to be $2.51-$2.66, with 40 to 45 new restaurants expected. The first quarter's adjusted EPS forecast is $0.70-$0.75, impacted by weather affecting U.S. sales and earnings.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 5:20 pm

BWMX

Betterware De Mexico's shares surged following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:16 pm

LILA

Liberty Latin America's shares dropped following the announcement of Q4 revenue results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:15 pm

INTU

Intuit Inc (NASDAQ:INTU) reported in-line revenues and an earnings beat for Q4. Analysts from Stifel, Mizuho Securities, Oppenheimer, Piper Sandler, and William Blair are bullish on Intuit's AI strategy and have raised their price targets. The company's performance was highlighted by strong results in the Small Business segment and expectations of a return to a normalized tax season. Shares of Intuit rose by 0.87% to $663.64.

Portfolio Pulse from Priya Nigam

February 23, 2024 | 5:11 pm

AMD

ARM

NVDA

SMCI

AMD's stock fell over 3% following a rally due to NVIDIA's earnings report. Super Micro Computer's stock dropped over 10% after announcing a convertible notes offering. The AI boom's impact on chip companies like NVIDIA and AMD is highlighted, with AMD's Q1 earnings report anticipated on April 30, 2024. Traders may be taking profits from AMD's recent gains, and the chip sector showed mixed performance.

Portfolio Pulse from Aaron Bry

February 23, 2024 | 5:10 pm

AngloGold Ashanti plc (NYSE:AU) shares surged after reporting FY23 gold income of $4.48 billion, up from $4.39 billion the previous year, despite a 3% decline in gold production. The company also announced a significant new gold discovery in Nevada, contributing to a positive outlook for FY24 and FY25 with expected increases in gold production and capital expenditure. However, gross profit and adjusted net debt declined and increased, respectively.

Portfolio Pulse from Lekha Gupta

February 23, 2024 | 5:09 pm

NWN

Northwest Natural Holding's shares dropped following disappointing Q4 financial results and FY24 EPS guidance below expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:04 pm