Streetbeat News

Earnings

NVDA

QQQ

RSP

SMH

SPY

XLI

XLV

U.S. stocks are set for a mixed open after Thursday's rally, driven by Nvidia's strong quarterly results and Federal Reserve Governor Lisa Cook's comments on interest rates. The Nasdaq Composite and S&P 500 reached new highs, with IT stocks leading gains. Analysts suggest earnings will be a major market catalyst this year, with mixed views on the economy's direction and the Federal Reserve's actions. Premarket trading saw movements in several stocks due to earnings reports, with notable rises and falls.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 12:34 pm

CLMT

Calumet Specialty Products Partners, L.P. (CLMT) reported a Q4 EPS of $(0.59), missing the $(0.39) estimate by 51.28%, but saw a 31.4% improvement over last year's $(0.86) per share. Sales reached $976.50M, exceeding the $926.13M estimate by 5.44%, despite a 2.33% decrease from last year's $999.80M.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:33 pm

MODV

ModivCare Inc. (NASDAQ:MODV) reported Q4 earnings above market expectations but provided a weaker sales forecast for Q1, leading to a 2.8% drop in its shares. The company's adjusted earnings were $1.29 per share, with sales of $702.83 million, surpassing estimates. However, its Q1 revenue forecast of $650 million to $700 million falls short of the expected $702.031 million. Analysts from Deutsche Bank and Jefferies have subsequently lowered their price targets and downgraded the stock.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 12:32 pm

RBA

Ritchie Bros Auctioneers (NYSE:RBA) reported Q4 adjusted earnings of $0.82 per share, surpassing the $0.70 estimate, marking a 20.59% increase from last year. Quarterly sales reached $1.04 billion, aligning with estimates and showing a 134.31% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:31 pm

SHO

Sunstone Hotel Investors projects its adjusted Funds From Operations (FFO) for FY24 to be in the range of $0.78-$0.90.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:31 pm

SHO

Sunstone Hotel Investments (SHO) reported Q4 2023 FFO of $0.19 per share, surpassing the $0.17 estimate, with sales of $219.22M also beating the $216.84M estimate. However, this represents a 10.30% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:31 pm

TAC

TransAlta reported a decrease in its Q4 Funds From Operations (FFO) per share to C$0.74 from C$1.71 in the prior year, indicating a significant reduction in operational cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:11 pm

TAC

TransAlta (NYSE:TAC) reported Q4 sales of $458.50M, missing the consensus estimate of $576.71M by 20.50%, marking a 27.89% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:04 pm

AER

AerCap Holdings (NYSE:AER) reported Q4 adjusted EPS of $3.11, surpassing the $2.45 estimate, marking a 26.94% beat and a 16.92% increase from last year's $2.66. However, its Q4 sales of $1.90B fell short of the $1.93B estimate by 1.61%, though it's a 3.83% increase from the previous year's $1.83B.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:04 pm

H

Hyatt Hotels has provided its financial guidance for 2024, forecasting a net income of approximately $560 million and an Adjusted EBITDA in the range of $1.175 billion to $1.225 billion.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:03 pm