Streetbeat News

Earnings

BRK

Warren Buffett, CEO of Berkshire Hathaway Inc. (NYSE:BRK), paid tribute to the late Charlie Munger in his annual letter, calling him the 'architect' behind the conglomerate's success. Munger, who passed away on Nov. 28, was pivotal in shaping Berkshire's strategy, advising Buffett to focus on acquiring businesses at fair prices. Berkshire Hathaway's Q4 operating earnings rose 28% year-over-year, with full-year earnings up 21.06%. Buffett also cautioned investors against following Wall Street advice.

Portfolio Pulse from Nabaparna Bhattacharya

February 24, 2024 | 6:27 pm

ALTI

AMZN

BKNG

NVDA

Barron's weekend stock picks highlight Nvidia's AI market leadership, AlTi Global's share drop post-M&A announcement, Booking Holdings' strong earnings but stock drop, Rivian's double downgrade due to EV demand concerns, and Amazon's Dow 30 inclusion potentially leading to underperformance. Nvidia, AlTi Global, Booking Holdings, and Amazon are directly mentioned.

Portfolio Pulse from Justin Chan

February 24, 2024 | 5:11 pm

AAPL

AXP

BAC

BRK

CVX

OXY

Berkshire Hathaway Inc. reported a 28% increase in Q4 operating earnings, driven by its insurance businesses. Annual operating earnings rose 21.06% to $37.350 billion. The company's investments are heavily concentrated in American Express, Apple, Bank of America, Coca-Cola, and Chevron, with significant ownership in Occidental Petroleum. Berkshire used $2.2 billion for share repurchases in Q4, bringing the total to $9.2 billion for the year. The company's cash position reached a record $167.6 billion. Warren Buffet paid tribute to Charlie Munger, describing him as the 'architect' of Berkshire.

Portfolio Pulse from Nabaparna Bhattacharya

February 24, 2024 | 3:30 pm

KARS

LCID

NIO

PSNY

RIVN

TSLA

This week in the EV sector, bearish sentiment surrounded Tesla, with its stock underperforming due to a double miss in Q3 2023 earnings and price adjustments. Rivian and Lucid faced production challenges and disappointing earnings, while Ford paused F-150 Lightning shipments. Nio is testing humanoid robots for production efficiency, and Volvo plans to cut its stake in Polestar. The KraneShares Electric Vehicles ETF saw a slight decline.

Portfolio Pulse from Shanthi Rexaline

February 24, 2024 | 3:17 pm

AAPL

On Steve Jobs' birthday, a reflection on the impact of the iPhone's unveiling in 2007 reveals a $1,000 investment in Apple stock then would be worth $54,000.37 today, marking a 5,300% return. Jobs' legacy continues as Apple dominates the smartphone market in 2023.

Portfolio Pulse from Chris Katje

February 24, 2024 | 1:10 pm

AMZN

GOOG

MSFT

NVDA

Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang, in an interview with Wired, acknowledged the intense competition in the AI industry from major tech companies like Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), and Alphabet Inc.'s Google (NASDAQ:GOOG), among others. Despite this, Huang remains confident in Nvidia's leadership in AI, highlighting its 70% market share and the company's potential to become the first semiconductor firm with a $2 trillion valuation. Huang's optimism is supported by Nvidia's strong position in AI supercomputers and its $1 billion annualized revenue run rate in software and services.

Portfolio Pulse from Rounak Jain

February 24, 2024 | 8:25 am

Jim Cramer expressed mixed feelings about Block Inc. (NYSE:SQ) after its Q4 earnings beat, initially praising the company's performance but later criticizing the fervent buying activity. Block reported Q4 revenue of $5.77 billion, surpassing expectations and closing over 15% up on Friday. Cramer set a $100 price target for Block, despite his critique of the buying frenzy. Analysts, including JPMorgan's Tien-tsin Huang, remain bullish, highlighting Cash App's momentum and Block's focus on AI efficiency.

Portfolio Pulse from Rounak Jain

February 24, 2024 | 4:47 am

BHP

HCC

RBC Capital analysts lowered their price target for Warrior Met Coal (NYSE:HCC) from $74 to $64 due to increased development costs at the Blue Creek mine, which were significantly higher than expected. The company plans to spend $335 million to $390 million this year on the mine and other expenditures, a 32% increase over RBC's forecast and 24% above consensus. Despite these higher costs, Warrior Met Coal's Q4 net income rose, supported by higher production, sales, and prices for steelmaking coal. The Blue Creek mine, set to begin operations in 2026, is one of the largest untouched metallurgical coal reserves in North America.

Portfolio Pulse from Matt Whittaker

February 23, 2024 | 10:17 pm

CCTG

CCSC Technology International reported a significant decrease in its H1 2024 earnings per share (EPS) to $0.04 from $0.28 year-over-year (YoY). Revenue also saw a sharp decline to $7.5 million from $15.6 million YoY.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:46 pm

BTCM

BIT Mining (NYSE:BTCM) reported a Q4 2023 adjusted EPS of $(0.39) and sales of $10.40M, missing the analyst consensus estimate of $77.30M by 86.55%. This represents an 82.96% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 9:45 pm