Streetbeat News

Earnings

NVDA

Nvidia Corporation's CEO, Jensen Huang, addressed concerns about potential supply constraints for the company's next-generation products during the Q4 earnings call. Despite acknowledging the intricate nature of Nvidia's products and the challenges in ramping up production, Huang reassured that the supply chain is supporting well, and supply is improving. CFO Colette Kress also noted that while supply for Hopper architecture products is improving, next-generation products are expected to be supply constrained due to high demand. This comes after Nvidia reported a strong Q4 earnings, exceeding revenue and EPS estimates with a 22% surge compared to the previous quarter.

Portfolio Pulse from Ananya Gairola

February 22, 2024 | 8:01 am

MRNA

Moderna, Inc. (NASDAQ:MRNA) is anticipated to report a Q4 loss with earnings expected at 97 cents per share compared to $3.61 per share a year ago, and revenue projected at $2.5 billion versus $5.08 billion in the previous year. The company announced updates at the JPMorgan Healthcare Conference, highlighting 45 therapeutic and vaccine programs, with nine in late-stage development. Analysts have provided mixed ratings, with price targets ranging from $82 to $142.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 7:32 am

NKLA

Nikola Corp. (NASDAQ:NKLA) has appointed its CEO, Stephen Girsky, as the acting CFO, effective Feb. 14, without additional compensation. This follows a series of leadership changes, with Girsky being the fourth CEO in four years and succeeding the CFO who resigned in November. Nikola faces financial challenges, with significant losses reported in the third quarter. The company's share price has declined nearly 70% over the past year.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 7:29 am

INDV

Indivior reported a significant increase in Q4 earnings and sales YoY, with EPS rising to $0.43 from $0.27 and sales reaching $293M from $241M.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:20 am

BKNG

KDP

PANW

PCG

SEDG

Investor sentiment improved slightly according to the CNN Money Fear and Greed index, despite the Nasdaq Composite falling for a third session. U.S. mortgage applications dropped significantly, and the Federal Reserve's latest minutes indicated a cautious approach to interest rate reductions. Palo Alto Networks and SolarEdge Technologies saw significant stock declines after disappointing financial forecasts. The S&P 500 saw modest gains, led by consumer discretionary, energy, and utilities sectors, while information technology stocks fell. Investors are looking forward to earnings results from Block, PG&E Corporation, Keurig Dr Pepper, and Booking Holdings.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 7:17 am

KDP

NVDA

PCG

RIVN

NVIDIA Corporation reported better-than-expected Q4 financial results and strong revenue guidance, boosting its shares by 9.1%. Keurig Dr Pepper and PG&E Corporation are expected to report earnings, with KDP shares slightly up and PCG shares slightly down in after-hours trading. Rivian Automotive announced a wider loss than expected and plans to reduce its workforce by 10%, leading to a 15.3% drop in shares. Block, Inc. is also expected to report earnings, with its shares up 2.2% in after-hours trading.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 7:16 am

IMOS

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) reported a significant increase in Q4 earnings per share, rising 207.14% to $0.43 from $0.14 YoY. Sales also increased by 22.62% to $187.00M from $152.50M YoY.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:04 am

TECK

Teck Resources (NYSE:TECK) reported Q4 adjusted earnings of $1.03 per share, surpassing the $1.00 estimate, and sales of $3.02B, slightly above the $3.01B estimate. This represents a significant increase from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:01 am

FFND

TSLA

Gary Black of Future Fund admitted he has been wrong about Tesla (TSLA) for three years, citing the stock's underperformance and his misjudgment on its volume growth and earnings power due to price cuts and a delayed affordable model. Despite these setbacks, he remains bullish on Tesla, expecting its stock to reach a $290 price target based on the assumption that other EV makers will reduce their investments.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 6:40 am

BORR

Borr Drilling (NYSE:BORR) reported Q4 earnings of $0.11 per share, surpassing the $0.07 estimate, marking a 222.22% increase from last year. Sales reached $220.60M, beating the $204.67M estimate, a 48.45% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:36 am