Streetbeat News

Earnings

K

Kellanova shares are trading higher following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:36 pm

JBLU

SAVE

Spirit Airlines Inc (NYSE:SAVE) reported a 5% Y/Y decline in Q4 fiscal 2023 revenue to $1.322 billion, slightly above consensus. Adjusted EPS showed a loss of $(1.36), an improvement over the expected $(1.46). Passenger revenues decreased by 5.3% Y/Y, while other revenues increased by 15.7%. The company faced a contraction in load factor and a decrease in total revenue per ASM and per passenger flight segment. Amidst these financial results, Spirit and JetBlue Airways Corporation (NASDAQ:JBLU) are appealing a court injunction against their merger, with a hearing set for June 2024.

Portfolio Pulse from Akanksha Bakshi

February 08, 2024 | 3:36 pm

UHAL

U-Haul's shares experienced a decline following the announcement of their Q3 adjusted EPS results, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:35 pm

VRT

Vertiv Hldgs (NYSE:VRT) has seen a notable increase in options trading activity, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 12 trades, with a split sentiment of 41% bullish and 58% bearish. Significant investors target a price range of $50.0 to $75.0 for VRT over the next three months. The current market status shows VRT's price up 0.59% at $61.1, with potential indicators of being overbought. Earnings are expected in 13 days.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 3:32 pm

SNA

Snap-on (NYSE:SNA) reported Q4 earnings of $4.75 per share, surpassing the $4.66 estimate, and sales of $1.29B, exceeding the $1.20B estimate. This represents a 7.47% increase in earnings and an 11.92% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:31 pm

CX

Cemex, previously announced, expects its fiscal year 2024 capital expenditures to be around $1.6 billion.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:26 pm

HUT

MARA

RIOT

Bitcoin miners are selling their holdings at a record pace to fund expansion ahead of the April 2024 halving event, which will reduce mining rewards. This selling has contributed to a recent price pullback. Miner reserves have hit a six-year high in outflows following ETF approval. The halving is expected to decrease miner profitability, prompting sales to upgrade infrastructure. Central banks' anticipated interest rate cuts in 2024 could weaken the dollar, potentially increasing miner profits. Publicly listed mining companies like Marathon Digital, Riot Platforms, and Hut 8 Mining are in focus as the halving approaches.

Portfolio Pulse from Khyathi Dalal

February 08, 2024 | 3:25 pm

PINS

Pinterest, Inc. (NYSE:PINS) is anticipated to report higher Q4 earnings with an expected EPS of 51 cents, up from 29 cents a year ago, and revenue forecasted at $989.53 million versus $877.21 million in the previous year. Analysts have revised their forecasts and ratings ahead of the earnings call, with several maintaining or upgrading their ratings and increasing their price targets. Pinterest shares fell 0.5% to close at $40.83 recently.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 3:24 pm

ARM

CYBR

DIS

HSY

WYNN

Arm Holdings reported better-than-expected Q3 results, leading to a 47.3% surge in its shares. Other companies like Oscar Health, Mineralys Therapeutics, and Viking Therapeutics also saw significant gains following positive financial results or announcements. Companies such as Monolithic Power Systems, Ralph Lauren, and Advanced Drainage Systems reported strong earnings, raising guidance and dividends. Disney announced a $1.5 billion investment in Epic Games and a new share repurchase program. Overall, several stocks recorded gains in Thursday's session.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 3:24 pm

SAVE

During a conference call, a Spirit Airlines executive stated that the company is expected to start generating cash in March, with plans to begin building its cash reserves in the second quarter and beyond.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:23 pm