Streetbeat News

Earnings

PACB

Pacific Biosciences of California's shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 5:31 pm

GXAI

ROKU

TDS

TTD

USM

YELP

In Friday's intraday session, several communication services stocks experienced significant movements. Gaxos.AI, Pop Culture Gr, MoneyHero, WiMi Hologram Cloud, and Trade Desk were among the gainers, with Gaxos.AI leading with a 307.8% increase. On the downside, Roku, Telephone and Data, 9F, United States Cellular, BuzzFeed, and Yelp saw declines, with Roku dropping 23.6%. Earnings reports influenced many of these movements, notably for Trade Desk, Roku, Telephone and Data, United States Cellular, and Yelp.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

AMN

APLT

MODD

ONMD

In Friday's intraday session, several healthcare stocks showed significant movement. OneMedNet, Applied Therapeutics, and Modular Medical were among the top gainers, with shares rising up to 91.2%, 28.53%, and 24.58% respectively. On the losing side, AMN Healthcare Services, Cross Country Healthcare, and Inventiva saw declines of up to 18.9%. Earnings releases influenced some of the stock movements.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

HTOO

SPWR

TYGO

During Friday's intraday session, several industrials stocks experienced significant movements. Fusion Fuel Green (HTOO) saw a notable increase of 128.3%, while Bloom Energy (BE) experienced a significant decline of 19.6%. Other stocks such as Staffing 360 Solutions (STAF), Baiyu Holdings (BYU), and Quad/Graphics (QUAD) also saw considerable gains. Conversely, SunPower (SPWR), Tigo Energy (TYGO), and Babcock & Wilcox (BW) were among the stocks that faced declines, largely attributed to their recent earnings reports.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

FSLY

Deep-pocketed investors have shown a bearish sentiment towards Fastly (NYSE:FSLY), with unusual options activity detected. The activity includes 17 notable options trades, with a bearish majority. Fastly's current market position shows a slight decline in stock price, with analysts giving mixed reviews. The company, known for its content delivery network, primarily serves large enterprises in the U.S. and is approaching an earnings release.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm

AMZN

COST

ROKU

Roku Inc (NASDAQ:ROKU) stock fell over 22% following a cautionary outlook for the year, despite beating Q4 financial expectations. Analysts have mixed views, with some maintaining positive ratings but adjusting price targets downward due to concerns over platform growth and operating costs. Roku's expansion into the high-end TV market and partnerships with Costco (NYSE:COST) and Amazon (NASDAQ:AMZN) for device sales distribution were highlighted.

Portfolio Pulse from Surbhi Jain

February 16, 2024 | 5:25 pm

SOUN

SoundHound AI (NASDAQ:SOUN) has seen significant options trading activity, with a bearish sentiment prevailing among traders. Analysis revealed 80% bearish and 20% bullish trades, focusing on a price band between $1.0 and $7.0. The largest trades were bearish calls and a bullish put, with notable open interest and volume. SoundHound AI's current market position shows a slight decline in stock price to $3.71, with an upcoming earnings announcement. Analysts have set an average price target of $4.0, with a recent downgrade to Buy by Ladenburg Thalmann.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:17 pm

PPL

PPL Corp (NYSE:PPL) exceeded Q4 FY23 revenue estimates with $2.03 billion against a $1.90 billion consensus. Despite a 5.0% drop in electricity sales, operating income rose to $390 million, and adjusted EPS was $0.40, surpassing the $0.38 consensus. The company announced a 7.3% dividend increase and projects an EPS of $1.63 to $1.75 for FY24, aiming for 6% to 8% annual EPS and dividend growth through at least 2027. PPL plans to invest $14.3 billion in infrastructure from 2024 to 2027 and targets significant operation and maintenance savings.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 5:16 pm

NEE

NextEra Energy, Inc. (NYSE:NEE) announced a 10% increase in its quarterly dividend to $0.515 per share, in line with its 2022 plan for approximately 10% annual dividend growth through at least 2024. The dividend is payable on March 15, 2024, to shareholders of record as of February 27, 2024. Additionally, the company's board approved a dividend policy aiming for a similar growth rate through at least 2026, based on a 2024 dividend base of $2.06 per share. CEO John Ketchum highlighted the company's strong financial position and its ability to exceed adjusted earnings per share growth expectations while maintaining a robust balance sheet and credit ratings.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 5:12 pm

AXL

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) reported a Q4 adjusted loss per share of $(0.09), beating estimates of a $(0.19) loss. Q4 sales rose 5% YoY to $1.46 billion, surpassing the $1.42 billion forecast. The company attributes the sales increase to volume and mix, despite the UAW work stoppage. Adjusted EBITDA for Q4 was $169.5 million, up from $157.7 million YoY. However, adjusted free cash flow decreased to $4.5 million from $99.0 million in Q4 2022. For FY24, American Axle targets sales between $6.05 billion and $6.35 billion, with adjusted EBITDA between $685 million and $750 million, expecting North American light vehicle production of about 15.8 million units. The company anticipates a gross new and incremental business backlog of approximately $600 million in future annual sales from 2024 to 2026, with an electrification mix of 50%. AXL shares dropped 1.93% to $8.385.

Portfolio Pulse from Nabaparna Bhattacharya

February 16, 2024 | 5:00 pm