Streetbeat News

Earnings

CRTO

LPTV

SNAP

Communication Services stocks showed significant movement in Wednesday's intraday session. Loop Media, Criteo, WiMi Hologram Cloud, AirNet Technology, Roblox, and Gogo were among the gainers, with notable increases in their stock prices following earnings reports for some. Conversely, Snap, Asset Entities, E W Scripps, FuboTV, Scienjoy Holding, and Gray Television experienced declines, with Snap's drop following its Q4 earnings report.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:31 pm

CDW

CDW Corp (NASDAQ:CDW) shares rose after reporting Q4 FY23 results, despite a 7.7% Y/Y decline in net sales to $5.02 billion, missing consensus estimates. The company saw declines across all segments but reported an expanded gross margin of 23.0% and a non-GAAP EPS of $2.57, slightly above consensus. CDW also announced a 5% Y/Y increase in its quarterly dividend to $0.62 and a $750 million increase in its share repurchase program. Looking ahead, CDW aims to outpace US IT market growth by 200-300 basis points in 2024.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 5:31 pm

AZEK

KULR

SUNW

XPO

The article reports on the movement of industrial stocks during Wednesday's intraday session, highlighting significant gainers and losers. Notably, XPO and AZEK Co experienced substantial increases following their earnings reports, while Sunworks and KULR Tech Gr faced steep declines.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:31 pm

AVNW

HOLO

PHUN

PRST

SMX

In Wednesday's intraday session, 12 Information Technology stocks saw significant movements. Notable gainers included MicroCloud Hologram (HOLO) with a 480.2% increase, and SMX (Security Matters) rising by 93.32%. On the losing end, Presto Automation (PRST) fell by 17.9%, and Phunware (PHUN) dropped by 17.41%. Aviat Networks (AVNW), ePlus (PLUS), and Viasat (VSAT) reported their quarterly earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:31 pm

Edwards Lifesciences Corporation (NYSE:EW) reported Q4 earnings in line with expectations at 64 cents per share and sales of $1.53 billion, surpassing estimates. The company anticipates FY24 adjusted earnings of $2.70 to $2.80 per share on revenue of $6.6 billion. Following the report, Mizuho and RBC Capital raised their price targets on EW, with shares falling 1% to $87.40.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:30 pm

BIDU

BILI

US-listed Chinese stocks, including BIDU, BILI, IQ, and JD, are trading lower following Alibaba's disappointing Q3 earnings report. The negative sentiment surrounding Alibaba's performance has impacted the broader market of Chinese stocks listed in the US.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:30 pm

FCX

Freeport-McMoRan (NYSE:FCX) announced Kathleen L. Quirk as its new CEO, effective June 11. Quirk, with the company since 1989 and previously CFO and President, succeeds Richard Adkerson, who remains Chairman. The leadership transition is part of a strategic plan, with Quirk's extensive experience expected to continue Freeport's successful trajectory in the mining industry. The company anticipates $5.8 billion in operating cash flows in 2024, with significant sales volumes of copper, gold, and molybdenum.

Portfolio Pulse from Stjepan Kalinic

February 07, 2024 | 5:23 pm

Fiserv, Inc (NYSE:FI) reported better-than-expected Q4 financial results, with a 6% Y/Y revenue increase to $4.92 billion and adjusted EPS of $2.19, surpassing consensus estimates. The company also projected FY24 organic revenue growth of 15%-17% and adjusted EPS of $8.55-$8.70. Following the announcement, Fiserv shares rose 1.4% to $143.06. Analysts from Stephens & Co. and RBC Capital raised their price targets on Fiserv to $150 and $158, respectively.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:23 pm

VREX

Varex Imaging's shares dropped following the announcement of Q1 adjusted EPS results that fell below market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:21 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSM) reported a 7.9% year-on-year revenue growth in January 2024, signaling a potential sector recovery. This growth, driven by strong demand for AI chips, comes despite the broader challenges in the technology sector, including a warning from Apple Inc (AAPL) about a difficult quarter ahead. TSMC, a key supplier to Apple and Nvidia Corp (NVDA), is expanding its operations globally to meet demand. The company has also beaten its fourth-quarter revenue and EPS consensus, indicating robust financial health.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:21 pm