Streetbeat News

Earnings

CMCSA

DIS

PARA

WBD

Warner Bros Discovery Inc (NASDAQ:WBD) achieved streaming profitability ahead of Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA), and Paramount Global (NASDAQ:PARA), despite missing Q4 revenue and earnings estimates and experiencing a 12% stock drop. The company reported a significant year-over-year increase in free cash flow and reduced its gross debt by paying off $12 billion over two years. Max, Warner Bros' streaming service, became profitable in 2023, with plans to expand internationally. In contrast, Disney+, NBCUniversal's Peacock, and Paramount are still striving for profitability in the streaming sector.

Portfolio Pulse from Upwallstreet

February 23, 2024 | 5:46 pm

SNBR

Sleep Number's stock (SNBR) is trading higher following the announcement of Q4 financial results that exceeded expectations. Additionally, Wedbush has maintained a Neutral rating on SNBR but increased its price target from $12 to $13.5.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:40 pm

TRUP

UVE

Insurance stocks showed notable movements in Friday's intraday session. Universal Insurance Holdings led the gainers with a 16.66% rise, attributed to its Q4 earnings report. Other gainers included Heritage Insurance, Reliance Global Group, Goosehead Insurance, Genworth Financial, and American Coastal, with their movements also influenced by recent earnings reports. On the downside, Trupanion, Donegal Group, Maiden Holdings, Crawford, Safety Insurance Group, and eHealth experienced declines. The movements reflect the market's reaction to recent earnings reports and overall trading activity.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:40 pm

BKNG

Booking Holdings, Inc. (NASDAQ:BKNG) reported Q4 earnings of $32.00 per share, surpassing estimates and marking a 29.35% increase from the previous year. Sales reached $4.78 billion, also beating estimates with an 18.15% year-over-year growth. The company initiated a quarterly dividend of $8.75 per share. Analysts from RBC Capital and Wedbush maintained an Outperform rating, with raised price targets. Despite positive results and outlook, BKNG shares dropped 9.58% to $3,528.30.

Portfolio Pulse from Erica Kollmann

February 23, 2024 | 5:34 pm

EQIX

Equinix, Inc. (NASDAQ:EQIX) plans to invest $390 million in Africa for data center expansion over the next five years, targeting South Africa and the west of the continent, with potential further investments in East Africa. The investment aims at constructing new data centers and expanding current operations, excluding additional markets. Equinix reported a Q4 FY23 revenue of $2.110 billion, slightly below consensus, and an adjusted FFO per share of $7.30. The company opened 14 new data centers in FY23 and expects an adjusted FFO per share of $34.58-$35.31 for FY24.

Portfolio Pulse from Lekha Gupta

February 23, 2024 | 5:33 pm

ATNI

CPOP

GTN

TGL

In Friday's intraday session, several Communication Services stocks experienced significant movements. ATN International (ATNI) led the gainers with a 27.8% increase following its Q4 earnings report. Other notable gainers included Nextdoor Holdings (KIND), GDEV, Chicken Soup for the Soul (CSSEP), Gaxos.AI (GXAI), and MoneyHero (MNY). On the losing side, Pop Culture Gr (CPOP) and Treasure Global (TGL) saw the largest declines, while Gray Television (GTN) also dropped significantly after its Q4 earnings release. Sound Group (SOGP) and FaZe Hldgs (FAZE) were among other notable losers.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:31 pm

MODV

MRVI

OCEA

Health care stocks experienced significant movements in Friday's intraday session, with Maravai LifeSciences leading the gainers after reporting Q4 earnings, and ModivCare heading the losers also following its Q4 earnings release. Other notable movers include Ocean Biomedical, Monopar Therapeutics, and Gyre Therapeutics on the gainers' side, and Venus Concept, SeaStar Medical Holding, and ImmunityBio among the losers.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:31 pm

UPLD

Upland Software's shares dropped following its announcement of disappointing Q4 adjusted EPS results, along with its Q1 and FY24 revenue guidance falling short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:31 pm

ACCO

PMEC

TPIC

VICR

In Friday's intraday session, several industrials stocks experienced significant movements. Primech Holdings (PMEC) led the gainers with a 29.9% increase, while Vicor (VICR) saw the largest decline among the losers, dropping 19.7%. Notably, TPI Composites (TPIC) and LegalZoom.com (LZ) reported their Q4 earnings, as did Vicor (VICR) and ACCO Brands (ACCO) among the losers, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:31 pm

AXTI

SQNS

In Friday's intraday session, 12 Information Technology stocks showed significant movement. AXTI, UMAC, SNCR, BTOG, AIRE, and EXFY were among the gainers, with AXTI leading by a 70.8% increase after their Q4 earnings report. On the losers' side, SQNS, SMSI, UPLD, AAOI, HOLO, and INSG saw declines, with SQNS dropping 62.8%, largely due to their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:31 pm