Streetbeat News

Earnings

NVDA

TSM

Nvidia Corp. (NASDAQ:NVDA) reached a $2 trillion market cap, joining an elite group of companies after a strong earnings report and a 240% rise in 2023. The company's success is attributed to its dominance in AI accelerators and high-performance chips. Nvidia's journey from its founding in 1993, through its IPO in 1999, to achieving this milestone highlights its significant growth and potential in the AI sector. Despite some concerns about an AI bubble, the outlook for Nvidia remains positive.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 4:38 pm

MORN

Morningstar shares are trading higher following the announcement of improved Q4 financial results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:37 pm

H

Hyatt Hotels' shares surged following the announcement of their Q4 sales results, which exceeded expectations. Additionally, the company provided positive guidance for the future.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:36 pm

H

Hyatt Hotels Corporation (NYSE:H) shares surged after reporting Q4 earnings and revenue that beat analyst expectations. Adjusted EPS was 64 cents, surpassing the forecast of 39 cents, with revenue at $1.66 billion against the expected $1.61 billion. The company saw a 9.1% increase in system-wide RevPAR and a 5.9% increase in owned and leased hotels RevPAR, attributed to recovery in Greater China and stronger U.S. group demand. Hyatt added 29 new hotels to its portfolio, including six in Greater China through a strategic relationship. The company forecasts a 3% to 5% growth in FY24 system-wide RevPAR and a net room growth of 5.5% to 6%. FY24 net income is expected to be around $560 million, with adjusted EBITDA between $1.175 billion and $1.225 billion. Shares rose 8.84% to $147.52.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 4:21 pm

SQ

On CNBC, Block CFO Amrita Ahuja discussed the company's Q4 earnings and provided guidance for 2024, indicating future financial directions and expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:19 pm

BDRX

Biodexa Pharmaceuticals PLC (NASDAQ:BDRX) announced R&D updates including Phase 1 clinical trial results of MTX110 in diffuse midline glioma (DMG) patients, showing a median overall survival of 16.5 months. A severe adverse event was reported in one patient, deemed unrelated to MTX110. Additionally, inconclusive preclinical results were shared for tolimidone's beta cell proliferation potential. Despite this, Biodexa plans to proceed with an in vivo study and a Phase 2a study in Type 1 diabetes patients. BDRX shares fell 9.08% to $1.40.

Portfolio Pulse from Vandana Singh

February 23, 2024 | 4:18 pm

NEM

Newmont (NYSE:NEM) plans to sell assets to reduce its $8 billion debt, following the acquisition of Newcrest. The company aims to focus on tier-one assets in favorable mining jurisdictions and expects to lower debt by $1 billion short term and achieve $100 million in free cash flow by integrating Newmont and Newcrest. Despite a 6.9% drop in gold production in 2023 and various charges, Newmont reported higher gold reserves and a commitment to dividends, with a goal to improve gold production to 6.7 million ounces by 2028.

Portfolio Pulse from Stjepan Kalinic

February 23, 2024 | 4:13 pm

SQ

Block Inc (NYSE:SQ) reported its Q4 results, surpassing expectations with a focus on Cash App and improved financial discipline. Analysts have raised their price targets, citing strong adjusted EBITDA, operating income guidance, and cost control measures. The company's emphasis on profitability, innovation, and Cash App monetization has been highlighted, with expectations for continued growth and margin expansion in 2024.

Portfolio Pulse from Priya Nigam

February 23, 2024 | 4:13 pm

CVNA

Carvana CEO Ernie Garcia appeared on CNBC to discuss the company's Q4 earnings. The discussion likely covered financial performance, future outlook, and possibly strategic plans for growth or recovery.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:09 pm

LUNR

Intuitive Machines, Inc. (NASDAQ:LUNR) shares surged after its Odysseus spacecraft successfully landed on the Moon, marking the first U.S. soft landing since 1972. The achievement has sparked significant interest, with the stock gaining over 240% in the past month. A press conference is scheduled to discuss further details. Despite the recent success, a long-term stock forecast based on past performance suggests a potential annualized return of -3.02%, projecting a stock price of $9.27 in five years.

Portfolio Pulse from Erica Kollmann

February 23, 2024 | 4:03 pm