Streetbeat News

Earnings

Ford Motor Co (NYSE:F) reported Q4 financial results surpassing analyst estimates, with its Pro segment receiving praise but its EV division raising concerns. Analysts from RBC Capital, Morgan Stanley, and Goldman Sachs provided insights, highlighting the Pro segment's strength and the challenges faced by the EV division. Despite concerns, Ford's shares rose 4.09% to $12.59.

Portfolio Pulse from Chris Katje

February 07, 2024 | 5:50 pm

AMZN

GOOGL

MSFT

Alphabet Inc's Google Cloud is collaborating with Singapore to establish the city-state as a global AI hub, showcasing generative AI solutions at the Explore AI summit. Despite this, Google Cloud faces slowing growth, with analysts predicting further deceleration in revenue growth and potential negative earnings revisions due to high operating expenses. Amazon Web Services leads the U.S. cloud market, followed by Microsoft's Azure and Google Cloud Platform.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:46 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

CINF

CNO

HUIZ

SLQT

In Wednesday's intraday session, several insurance stocks experienced notable movements. Huize Holding, Kingstone Companies, SelectQuote, RenaissanceRe Holdings, Cheche Group, and CNO Financial Group were among the gainers, with increases ranging from 2.39% to 8.01%. Conversely, Cincinnati Financial, Conifer Holdings, Maiden Holdings, Root, Fanhua, and Marpai were the losers, with declines ranging from 3.37% to 5.35%. Notably, SelectQuote and CNO Financial Group released their Q2 and Q4 earnings reports, respectively.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:40 pm

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