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Earnings

META

SNAP

Snap Inc. (SNAP) and Meta Platforms Inc. (META) have been rivals since Snapchat rejected Meta's (then Facebook) $3B buyout offer in 2013. Despite Snapchat's innovative features, Meta's acquisition of Instagram and its subsequent introduction of Instagram stories, which mimic Snapchat's features, have significantly bolstered Meta's user base. Snapchat's recent earnings report showed a 35% stock drop, while Meta's stock has risen 36% year to date. The competition highlights the struggle of smaller companies against tech giants, with Snapchat still valued at $18 billion, significantly more than Meta's initial offer but lagging in stock performance compared to Meta's 1,700% increase since 2013.

Portfolio Pulse from Caleb Naysmith

February 13, 2024 | 3:30 pm

DIA

IWM

QQQ

SPY

Major stock indexes declined following the release of January CPI data, which indicated a higher-than-anticipated increase in inflation. This has raised concerns about the potential for continued aggressive monetary policy by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:29 pm

REKR

The AI industry is projected to grow from $207.9 billion in 2023 to $1.87 trillion by 2030, with significant contributions from companies like Rekor Systems (NASDAQ:REKR), which reported a 132% increase in Q2 revenue and a 178% increase in recurring revenue. The company's AI-driven digital infrastructure system, Rekor OneTM, and its unique position in the transportation infrastructure market, which is expected to grow to $3.6 trillion by 2031, underscore the potential of AI technology in transforming industries and generating investor returns.

Portfolio Pulse from Faith Ashmore

February 13, 2024 | 3:29 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) is set to report its Q4 earnings with expectations of a negative 1 cent EPS and $453.46 million in revenues. The stock has shown bullish technical indicators such as being above its exponential moving averages and a bullish MACD indicator, despite nearing overbought conditions according to the RSI. Analyst consensus rates HOOD as Neutral with a price target of $14.05, amidst recent upgrades. Shares were down 2.6% at $11.70 ahead of the earnings report.

Portfolio Pulse from Surbhi Jain

February 13, 2024 | 3:27 pm

LSCC

Lattice Semiconductor Corp (NASDAQ:LSCC) reported mixed Q4 FY23 results with revenue of $170.6 million missing estimates but adjusted EPS of $0.45 beating expectations. The company saw double-digit annual revenue growth in 2023, record gross margin, and profit expansion. It repurchased 900,000 shares and has authorization for up to an additional $250 million shares repurchase through December 2024. The Q1 FY24 revenue outlook is below estimates at $130 million-$150 million. LSCC shares are up 1.7%.

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 3:25 pm

ARM

DIA

IWM

LSCC

QQQ

SPY

Stock indexes fell after the release of January inflation data, while Lattice Semiconductor shares rebounded. Treasury yields increased, and Arm shares declined after a recent surge due to earnings.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 3:20 pm

HD

Deep-pocketed investors have shown unusual bullish interest in Home Depot (NYSE:HD) options, as revealed by Benzinga's tracking of public options records. The analysis of options activity indicates a significant move, with 54% of investors leaning bullish and 45% bearish. The options activity suggests a target price window for Home Depot between $305.0 and $385.0. The largest trades observed include both bullish and bearish sentiments, with notable trades aiming for strike prices ranging from $305.00 to $360.00. Home Depot, the world's largest home improvement retailer, has seen its stock price decrease by -3.15%, with a current price of $353.94. The next earnings report is scheduled for 7 days from now.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:15 pm

MU

Financial giants have shown a bearish sentiment towards Micron Technology (NASDAQ:MU), with 65% of unusual trades being bearish. The trading activity suggests a target price range of $72.5 to $95.0. The largest trades include both bearish and bullish positions, with significant open interest and volume in options. Micron, a major semiconductor company, has seen its stock price decrease by -3.92%, with a neutral RSI indicator and an earnings announcement expected in 42 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:15 pm

COST

Recent options activity for Costco Wholesale (NASDAQ:COST) shows a bearish sentiment among investors, with 63% of trades being bearish. The trading volume and open interest suggest a focus on a price range between $635.0 and $825.0. Despite this, professional analysts have issued ratings with a consensus target price of $736.8, indicating a potential upside. Costco's current stock price is $716.25, with an RSI indicating it may be approaching overbought territory. The company's next earnings are expected in 16 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:15 pm

LYFT

Lyft, Inc. (NASDAQ:LYFT) is anticipated to release its Q4 earnings on Feb. 13, 2024, with analysts expecting a decrease in earnings per share from 29 cents a year ago to 8 cents. Revenue is projected to rise slightly from $1.18 billion to $1.22 billion. The company's shares dropped 4.8% to $12.40 following a Q3 loss report. Analysts from Goldman Sachs, BMO Capital, Wedbush, Truist Securities, and Wells Fargo have recently updated their ratings and price targets for Lyft, with adjustments reflecting a cautious but slightly improved outlook.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 3:09 pm