Streetbeat News

Earnings

AMAT

Applied Materials (AMAT) reported Q1 2024 adjusted EPS of $2.13, surpassing the $1.91 estimate, with sales of $6.71B also beating the $6.48B estimate. However, this represents a slight 0.47% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:01 pm

CROX

Crocs, Inc. (NASDAQ:CROX) reported Q4 earnings of $2.58 per share, surpassing the consensus estimate of $2.37, and quarterly sales of $960 million, beating the estimate of $958.22 million. The company experienced a 1.57% increase in sales compared to the same period last year, with a record annual revenue of nearly $4 billion, an 11% growth. CEO Andrew Rees highlighted growth across all regions and channels for the Crocs Brand and progress towards improving the HEYDUDE Brand's market position. Crocs expects Q1 adjusted EPS of $2.15 to $2.25 and revenue growth of 3% to 5% year-over-year, with specific projections for the Crocs and HEYDUDE brands. Shares surged 12.7% to $122.08 following the announcement.

Portfolio Pulse from Erica Kollmann

February 15, 2024 | 9:01 pm

ALB

In the last three months, 11 analysts have rated Albemarle (NYSE:ALB), with a shift towards more neutral stances recently. The average 12-month price target is now $144.18, down from $169.30. Analysts' actions, ranging from lowering to maintaining ratings, reflect adjustments to market dynamics and company performance. Albemarle, a leading lithium producer, has shown strong financials, including a revenue growth rate of 10.46% and a net margin of 13.09%, outperforming industry benchmarks.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 9:00 pm

F

Ford Motor Co. CEO Jim Farley admitted that the company would be 'much stronger' today if he had addressed its longstanding quality issues and operational inefficiencies sooner after becoming CEO in 2020.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:00 pm

CLF

DC

HL

RS

X

Morgan Stanley downgraded United States Steel Corporation (X) and Cleveland-Cliffs (CLF), adjusting their price targets. Cleveland-Cliffs announced the indefinite idling of its tinplate production plant in West Virginia due to tariff issues, affecting 900 employees. Reliance Steel & Aluminum Co. (RS), now Reliance Inc., reported strong financial results for 2023, announced acquisitions, and increased its dividend. Hecla Mining Company (HL) reported significant silver reserves and sales, operational improvements, and strong safety performance. Dakota Gold Corp. (DC) saw a significant share purchase by Director Robert Quartermain.

Portfolio Pulse from Austin DeNoce

February 15, 2024 | 8:38 pm

ALNY

Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) reported a Q4 2023 adjusted EPS loss of $(0.77), beating estimates but missing sales consensus with $439.72 million. The company updated its HELIOS-B Phase 3 study timeline for vutrisiran and received FDA clearance for a Phase 1 study of ALN-APP. It forecasts FY 2024 net product revenues of $1.4 billion-$1.5 billion. Analyst ratings include a Neutral from Cantor Fitzgerald with a $165 target and a Peer Perform from Wolfe Research. ALNY shares dropped 8.83% to $149.66.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 8:29 pm

APLT

Applied Therapeutics Inc (NASDAQ:APLT) shares surged 34.70% to $3.61 after announcing positive interim 12-month results from its Phase 3 INSPIRE trial for govorestat (AT-007) in treating SORD Deficiency. The trial met its primary and key secondary endpoints, demonstrating significant reductions in toxic sorbitol levels and improvements in patient mobility and well-being. The company plans to request a pre-NDA meeting with the FDA.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 8:25 pm

BLK

KR

WMT

Rick Rieder of BlackRock Inc (NYSE:BLK) is optimistic about the U.S. economy, predicting 4% nominal GDP growth this year, exceeding previous expectations. Despite high federal funds rates, Rieder expects rate cuts starting mid-year. He notes strong consumer spending, particularly in services, despite concerns from big retailers like Walmart (NYSE:WMT) and Kroger (NYSE:KR). Rieder manages BlackRock's $2.6 trillion global fixed-income portfolio.

Portfolio Pulse from Natan Ponieman

February 15, 2024 | 8:11 pm

MCD

Financial analysis reveals a bearish sentiment among traders towards McDonald's (NYSE:MCD), with 64% of options trades showing bearish tendencies. Notable options activity includes both calls and puts with a focus on strike prices between $280.0 and $310.0. Despite this, McDonald's remains a strong player in the restaurant industry, with system sales of $130 billion and a current stock price of $291.07, up by 1.01%. Analysts have given McDonald's an average target price of $332.0, with ratings ranging from Buy to Outperform.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 8:01 pm

COIN

SARK

TARK

Coinbase Global, Inc (NASDAQ:COIN) is anticipated to release its Q4 financial results, with analysts expecting earnings of 2 cents per share on revenues of $823.85 million. JPMorgan upgraded Coinbase to Neutral with an $80 price target. Investors are keen on Coinbase's Bitcoin and Ethereum trading revenue. For diversified investment, TARK ETF, which includes Coinbase as a top holding, and SARK ETF for bearish positions are options. Technical analysis suggests a mildly bullish outlook for Coinbase but indicates a potential need for a pullback.

Portfolio Pulse from Melanie Schaffer

February 15, 2024 | 7:54 pm