Streetbeat News

Earnings

NXRT

NexPoint Residential Trust (NXRT) projects its full-year 2024 Funds From Operations (FFO) to be approximately $2.66, which is below the estimated $2.82.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:46 pm

POLA

Polar Power, Inc. (NASDAQ:POLA) announced $2.9 million in new bookings for January 2024, from both international and domestic Tier-1 customers, focusing on DC backup power generation systems. This figure is compared to $3.7 million in new bookings for Q1 2023. The bookings are driven by increased power demand, diminishing grid power availability, rising diesel fuel costs, and the need for broadband in rural areas. A significant portion of the orders came from repeat and expanded business in Puerto Rico, where Polar Power's products have excelled in extreme weather conditions. The company's use of super capacitors over traditional batteries is highlighted as a key success factor. Polar Power is optimistic about continued financial recovery and improvement in 2024, noting progress in diversification and competitive advantages in fuel efficiency and maintenance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:40 pm

WMT

Walmart's CFO reported better than expected holiday sales, with two record-breaking volume days leading up to Christmas, as mentioned during a conference call.

Portfolio Pulse from Charles Gross

February 20, 2024 | 1:33 pm

EXPD

Expeditors Intl (NASDAQ:EXPD) reported Q4 earnings of $1.09 per share, missing the $1.23 estimate, and sales of $2.28B, missing the $2.31B estimate. This represents a 21.01% decrease in earnings and a 33.81% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:32 pm

AMZN

CSCO

GOOG

MSFT

NVDA

Cisco Systems Inc (CSCO) announced a 5% workforce reduction, approximately 4,250 jobs, as it enters 2024 alongside tech giants like Alphabet (GOOG), Amazon.com Inc (AMZN), and Microsoft Corporation (MSFT) in making job cuts. Despite expanding its AI and cybersecurity partnership with Nvidia Corporation (NVDA) to focus on data centers, Cisco's positive news was overshadowed by a modest forecast for the current quarter and full year. Cisco's fiscal second quarter saw a 6% YoY revenue decline and a cautious outlook due to macroeconomic challenges and supply chain issues. The company also plans to acquire Splunk to diversify from its networking equipment business.

Portfolio Pulse from Upwallstreet

February 20, 2024 | 1:30 pm

AMTX

Aemetis, Inc. (NASDAQ:AMTX) announced its updated Five Year Plan, projecting significant growth with $1.95 billion in revenues and $645 million in adjusted EBITDA by 2028. The plan highlights a compound annual growth rate of 38% in revenues and 83% in adjusted EBITDA from 2024 to 2028, driven by expansions in renewable natural gas, sustainable aviation fuel, renewable diesel, and biodiesel production, as well as carbon sequestration projects. The company also noted financial support from the USDA and benefits from the Inflation Reduction Act.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:30 pm

BCS

Barclays PLC (NYSE:BCS) shares surged premarket Tuesday following its Q4 FY23 earnings report. Despite a 3% Y/Y decline in total income to £5.6 billion and an attributable loss of £0.1 billion, the bank announced a further share buyback of up to £1 billion. Barclays plans to restructure its reporting segments and targets significant income and capital return to shareholders by 2026, alongside cost savings through structural actions including headcount reduction.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 1:27 pm

JANX

Janux Therapeutics, Inc. (NASDAQ:JANX) announced a virtual event on February 26th, 2024, to discuss updated clinical data for its immunotherapies JANX007 and JANX008. JANX007 targets PSMA for prostate cancer and is in Phase 1 trials. JANX008 targets EGFR for various cancers including lung and colorectal, also in Phase 1 trials. The event will include efficacy and safety updates, with a focus on dose identification for expansion studies.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:27 pm

NXRT

NexPoint Residential (NXRT) reported Q4 2023 FFO of $0.66 per share, missing the $0.71 estimate, but sales of $68.89M exceeded the $68.41M forecast. This represents a slight decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:22 pm

UFPI

UFP Industries (UFPI) outlines its 5-year financial goals, aiming for 7-10% annual sales growth, supported by tuck-in acquisitions. The company seeks a 12.5% adjusted EBITDA margin, an incremental ROI over cost of capital, and a conservative capital structure. Short-term, it expects lumber prices to stay low, with mixed demand across segments in 2024, anticipating a competitive first half but improvement later.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:21 pm