Streetbeat News

Earnings

AMD

ARM

META

MSFT

NVDA

PLTR

QQQ

U.S.-listed shares of Arm Holdings plc surged 20% in after-hours trading following forecast-beating Q3 results, amidst a broader tech rally. Gene Munster, co-founder of Deepwater Asset Management, dismissed concerns of an AI bubble, predicting a 3-5 year tech run. High-profile tech stocks like Microsoft, Meta Platforms, AMD, and Nvidia have seen significant gains. The AI revolution is considered to be in its early stages, with positive outlooks from analysts and the Invesco QQQ Trust also up 1.03%.

Portfolio Pulse from Shanthi Rexaline

February 08, 2024 | 12:57 pm

UAA

Under Armour's stock is trading higher following the announcement of their third-quarter financial results, which surpassed expectations. Additionally, the company provided earnings per share (EPS) guidance that exceeded analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:48 pm

ARM

Arm Holdings plc (NASDAQ:ARM) shares surged over 25% in premarket trading following its Q3 results that surpassed expectations. Jim Cramer, a long-time supporter of ARM, expressed his astonishment at the stock's significant rise. The company's revenue growth was driven by record royalty revenue and better-than-expected license and other revenues, with a notable recovery in the smartphone market and increased penetration of Armv9. Following these results, KeyBanc Capital Markets analyst John Vinh raised ARM's price target from $75 to $120.

Portfolio Pulse from Shanthi Rexaline

February 08, 2024 | 12:48 pm

SPGI

S&P Global shares are trading lower following the release of mixed Q4 financial results and the provision of 2024 guidance.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:38 pm

SWI

SolarWinds Corp's shares surged following the announcement of their first-quarter financial results, which exceeded expectations. The company also provided positive guidance for the future.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:37 pm

BDC

Belden projects its Q1 adjusted EPS to be between $1.00 and $1.10, compared to the $1.04 estimate. The company anticipates ongoing challenges from the previous year, including customer destocking and other temporary headwinds, to persist into the first quarter.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:37 pm

SWI

SolarWinds Corp projects Q1 2024 revenue of $187M-$192M, slightly below the $191.8M estimate, and adjusted EPS of $0.20-$0.22, against a $0.22 estimate. For FY24, it expects revenue of $771M-$786M, around the $779.74M estimate, with adjusted EPS of $0.95-$1.00, in line with the $0.95 estimate. The company anticipates growth in revenue and adjusted EBITDA for both periods.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:35 pm

BDC

Belden Inc. (BDC) reported Q4 adjusted earnings of $1.46 per share, surpassing the $1.13 estimate, and sales of $551.24M, exceeding the $521.96M estimate. However, both earnings and sales saw a decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:35 pm

ARM

CFLT

DIS

QQQ

SPY

U.S. stock futures indicate a subdued start for Wall Street, with the Dow supported by Disney's earnings beat. Oil prices rise, potentially boosting energy stocks. The S&P 500 approaches the 5,000 mark amid overbought conditions. U.S. stocks reached record highs on positive earnings and Federal Reserve comments, with the Nasdaq hitting a 25-month high. Analysts predict improved market breadth and a significant rally, particularly in small-to-mid cap stocks. Premarket trading saw movements in several stocks following earnings reports, with notable jumps for Confluent and Arm Holdings.

Portfolio Pulse from Shanthi Rexaline

February 08, 2024 | 12:35 pm

GTES

Gates Industrial Corp (GTES) reported Q4 2023 adjusted EPS of $0.39, surpassing the $0.28 estimate, with sales of $863.30M also beating the $862.89M estimate. However, this represents a 3.36% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:34 pm