Streetbeat News

Earnings

Coca-Cola has announced that it does not expect international conflicts to materially impact its operational results. For the year 2023, the company recorded other operating charges amounting to approximately $2 billion.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:54 pm

Citigroup CFO Mark Mason reported positive activity in equities, fixed income, currencies, and commodities, expecting continued loan growth, especially in credit cards. The expense guidance includes $700M-$1B for reorganization and severance, emphasizing that transformation and risk control investments will not be compromised.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:48 pm

AMD

DFS

GOOGL

NVDA

WMT

Wall Street experienced a downturn, particularly in technology stocks, with the Nasdaq 100 dropping 1.5%. Nvidia and AMD saw significant declines ahead of Nvidia's earnings report. Alphabet was an exception among major tech stocks, posting a gain. The market's movement reflects a reassessment of stock valuations rather than interest rate concerns. ETFs like SPY, DIA, and QQQ also fell, with XLK underperforming. Walmart's stock rose following strong quarterly results and plans to acquire Vizio, while Discover Financial surged on news of its acquisition by Capital One.

Portfolio Pulse from Piero Cingari

February 20, 2024 | 6:46 pm

AMZN

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) is set to report its Q4 financial results, with analysts expecting a significant revenue increase to $1.262 billion from last year's $663.0 million, and a reduced loss of $1.32 per share. Despite beating earnings estimates in recent quarters, several analysts have downgraded RIVN due to the overall weakness in the EV sector and potential challenges in meeting its 2024 gross margin profitability target. Key items for the upcoming earnings include updates on 2024 production, deliveries, and details on the R2 model debut.

Portfolio Pulse from Chris Katje

February 20, 2024 | 6:41 pm

TEVA

Teva Pharmaceutical Industries (NYSE:TEVA) CEO Richard Francis confirmed the company will not split into two entities, focusing on a unified approach to manage its generics and branded drugs businesses. Despite challenges, Teva remains optimistic, leveraging collaborations with Israeli universities for R&D. The company plans to divest its API business, valued at $1 billion, expecting significant interest. The divestiture is aimed to be completed in the first half of 2025, with TEVA shares currently up 0.88% at $13.14.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 6:24 pm

AGRI

DFS

EVA

FLR

MEDS

MNPR

VZIO

Fluor Corporation's shares fell by 7.7% following its Q4 results, with earnings beating estimates but sales missing expectations. Other stocks moved significantly in Tuesday's session, with notable gainers including TRxADE HEALTH, AgriFORCE Growing Systems, and Monopar Therapeutics, among others, due to various positive announcements. Losers included RAPT Therapeutics, MicroCloud Hologram, and Summit Therapeutics, primarily due to negative news or disappointing results.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 6:21 pm

DVA

FMS

Fresenius Medical Care AG (NYSE:FMS) reported Q4 2023 revenue of €4.9 billion, nearly matching consensus estimates and showing flat year-over-year growth. Adjusted EPS increased by 4% to €0.88, surpassing consensus. The company treated 332,548 patients in 3,925 clinics worldwide and proposed a 6% dividend increase. For 2024, it expects low- to mid-single-digit revenue growth and mid- to high-teens operating income growth. Fresenius forecasts 0.5%-2% patient volume growth, slightly lower than DaVita Inc's (NYSE:DVA) 1%-2% expectations. FMS shares dropped 2.96% to $20.49.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 6:17 pm

ROKU

Recent analysis of options activity for Roku (NASDAQ:ROKU) reveals a bearish sentiment among investors, with 65% of trades being bearish and 34% bullish. The options trades have focused on a price range of $50.0 to $120.0 for Roku. Notable trades include a mix of bearish, bullish, and neutral sentiments with varying expiration dates and strike prices. Roku, a leading streaming platform, has seen a recent price drop of -5.5%, with its stock currently trading at $68.04. The company is anticipated to release its earnings in 64 days.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 6:15 pm

AXSM

Axsome Therapeutics Inc (NASDAQ:AXSM) reported a Q4 2023 net loss of $(2.08) per share, missing consensus estimates and deeper than the previous year's $(1.41) per share. Despite this, Q4 revenues rose to $71.53 million from $24.37 million a year ago, beating consensus estimates of $67.69 million. The revenue increase was driven by sales of its oral antidepressant Auvelity and sleep disorder drug Sunosi, with significant year-over-year growth. The company also updated its pipeline milestones, including delays in new drug application submissions and clinical trial initiations.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 6:05 pm

ADI

INDI

NVDA

Semiconductor companies Nvidia, Analog Devices, and indie Semiconductor are set to report earnings this week amidst a robust demand for AI infrastructure. Analyst John Vinh of KeyBanc Capital Markets expects Nvidia to outperform with strong earnings, driven by demand for H100 GPUs, while Analog Devices and indie Semiconductor are anticipated to report in-line results with slight adjustments due to market conditions. Shares of all three companies saw movements ahead of the earnings release.

Portfolio Pulse from Priya Nigam

February 20, 2024 | 6:02 pm