Streetbeat News

Earnings

NVDA

Shares of tech sector companies are trading higher due to overall market strength, influenced by NVIDIA's strong Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:54 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

NVIDIA Corp (NASDAQ:NVDA) reported earnings that exceeded expectations, with significant growth in AI inference shipments, indicating rapid AI adoption. The FOMC minutes were hawkish, suggesting no near-term rate cuts. Jobless claims were lower than expected, showing a strong job market. Japan's Nikkei 225 reached a 34-year high, highlighting the potential for long bear markets. Early trade showed positive money flows in major tech stocks and ETFs, while Bitcoin's sentiment was boosted by NVIDIA's earnings.

Portfolio Pulse from The Arora Report

February 22, 2024 | 5:42 pm

LCID

Lucid Group Inc (NASDAQ:LCID) reported Q4 financial results with revenue of $157.2 million, missing estimates, but a smaller loss per share than expected. The company produced 2,391 vehicles and delivered 1,734 in Q4, and issued a full-year production guidance of approximately 9,000 vehicles. Following the report, Lucid shares fell 16.8% to $3.08. Analysts from Cantor Fitzgerald and B of A Securities adjusted their price targets on Lucid Group, with Cantor Fitzgerald also downgrading the stock.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 5:40 pm

DGICB

FIHL

GOCO

HRTG

LMND

MHLD

SKWD

In Thursday's intraday session, the insurance industry saw notable movements with Fidelis Insurance Hldgs, Heritage Insurance Hldgs, Skyward Specialty, Donegal Gr, Lemonade, and GoHealth recording gains, while Maiden Hldgs, Tian Ruixiang Holdings, Cheche Group, Waterdrop, Ambac Financial Group, and Kingsway Financial Servs experienced declines. Skyward Specialty and Donegal Gr's movements were influenced by their Q4 earnings releases.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:40 pm

SHYF

The Shyft Group, Inc. (NASDAQ:SHYF) shares rose after reporting Q4 adjusted EPS of $(0.03), beating analyst expectations of $(0.04) loss. Quarterly sales of $202.333 million also surpassed estimates, despite a 33% year-over-year decline. The company's backlog decreased by 50.9% year over year, with significant drops in Fleet Vehicles and Services and Specialty Vehicles sales. The FY24 sales outlook is set between $850 million to $900 million, with adjusted EPS projected at $0.28 to $0.51, slightly below the $0.50 estimate. SHYF shares increased by 4.14% to $11.46.

Portfolio Pulse from Nabaparna Bhattacharya

February 22, 2024 | 5:40 pm

CCL

CUK

NCLH

RCL

Cruise stocks are trading higher after Royal Caribbean Group announced an increase in its 2024 guidance, citing demand and bookings exceeding expectations. This positive outlook has influenced the broader cruise sector, including Carnival Corporation & plc and Norwegian Cruise Line Holdings Ltd.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:39 pm

MCD

McDonald's expects the ongoing Middle East war to continue negatively impacting its systemwide sales and revenue, as disclosed in a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:37 pm

FTEL

LCID

RIVN

In Thursday's intraday session, several consumer discretionary stocks showed significant movement. Fitell, GigaCloud Tech, Golden Heaven Group Holdings, Codere Online Luxembourg, Installed Building Products, and Jumia Technologies were among the gainers, with increases ranging from 10.73% to 30.1%. On the downside, Rivian Automotive, Lucid Group, BowFlex, Standard Motor Products, Yunji, and REE Automotive experienced declines between 10.97% and 25.4%. Notably, earnings reports influenced some of these movements.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:31 pm

AMLX

CLDI

MNPR

MOTS

SNES

SNPX

Health care stocks experienced significant movements in Thursday's intraday session. Monopar Therapeutics and Calidi Biotherapeutics led the gainers with over 75% increases in their stock prices, while Synaptogenix and Motus GI Holdings were among the top losers, with over 20% declines. Notably, Amylyx Pharma and SenesTech released their Q4 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:31 pm

ACVA

FCN

FLNC

ROMA

STI

VSTE

In Thursday's intraday session, several industrials stocks experienced significant movements. Notably, Roma Green Finance, FTI Consulting, and ACV Auctions were among the top gainers, with shares increasing by 17.7%, 17.61%, and 17.01% respectively. On the downside, Solidion Technology, Vast Renewables, and Fluence Energy led the losers, with their stocks falling by 17.6%, 15.7%, and 15.5% respectively. The movements were attributed to various factors including quarterly earnings reports.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 5:31 pm