Streetbeat News

Earnings

AAPL

Wedbush analyst Dan Ives remains optimistic about Apple Inc.'s (AAPL) future in China despite a revenue decline in the region, as reported in Apple's first-quarter earnings. The earnings showed an overall year-over-year increase, surpassing market expectations, but highlighted a 12.9% revenue drop in China due to competition and strained U.S.-China relations. Despite these challenges, Apple's stock has risen by 50% in 2023, with Ives predicting a potential $4 trillion market cap in 2024.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 3:03 am

BMR

HOOD

LUNR

NVDA

SHOP

TSLA

Beamr Imaging, Intuitive Machines, Robinhood, Shopify, and Tesla were key stocks on investors' radars, with Beamr Imaging surging 371.56% after announcing a collaboration with Nvidia. Intuitive Machines rose 6.21% as its lunar lander is ready for launch. Robinhood gained 3.98% ahead of its earnings report. Shopify fell 1.76% before its earnings report, while Tesla dropped 2.81% amid EV demand slowdown and AI sector valuation skepticism.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 1:57 am

BYDDF

TSLA

Tesla Inc (NASDAQ:TSLA) reported an unexpected $1.79 billion in revenue from regulatory-credit sales in 2023, according to a recent SEC filing. This revenue, stemming from other automakers' failure to meet emission regulations, was not anticipated to grow, as per Tesla's expectations. Despite facing increasing competition, particularly from China's BYD Co. Ltd. (OTC:BYDDF), which has overtaken Tesla as the world's leading EV seller, Tesla continues to benefit from this revenue stream. The company's Q4 revenue was $25.17 billion, a 3% increase year-over-year, but missed the Street consensus estimate of $25.62 billion.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 1:41 am

WM

Waste Management forecasts a 6%-7% revenue growth for 2024, with adjusted operating EBITDA expected to range between $6.275 to $6.425 billion. This includes an increase of approximately $450 million at the midpoint, incorporating about $115 million from sustainability growth investments.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:10 pm

WM

Waste Management (NYSE:WM) reported Q4 adjusted earnings of $1.74 per share, surpassing the $1.53 estimate, marking a 33.85% increase from last year. Sales reached $5.22B, exceeding the $5.19B estimate, a 5.71% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:06 pm

OTTR

Otter Tail Corporation has projected its 2024 earnings per share (EPS) to be in the range of $5.13-$5.43, significantly surpassing the estimated $4.08.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:05 pm

OTTR

Otter Tail Corporation (OTTR) reported Q4 earnings of $1.37 per share, surpassing the consensus estimate of $1.25 by 9.6%. Year-over-year, this represents a 37% increase from $1.00 per share. However, Q4 sales of $314.31 million fell short of the $319.48 million estimate by 1.62%, though they were up 4.28% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:02 pm

BB

BlackBerry has reaffirmed its total company revenue forecast to be between $150M-$159M, aligning with the estimated $153.85M. Additionally, the company expects its Cybersecurity Annual Recurring Revenue (ARR) to stabilize in the current quarter.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:54 pm

BB

BlackBerry announced further cost-reduction actions within its Cybersecurity business, including headcount reductions expected to save $27 million annually and other actions for an additional $8 million in savings. Despite a seasonal low in cash for the first fiscal quarter, BlackBerry aims to maintain a positive net cash position throughout the fiscal year and achieve operating cash flow positivity by Q4 FY25.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:51 pm

SBLK

Star Bulk Carriers (NASDAQ:SBLK) reported Q4 adjusted earnings of $0.73 per share, meeting analyst estimates, and sales of $263.46M, exceeding estimates of $203.01M. This represents an 18.89% decrease in earnings and a 10.63% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:33 pm