Streetbeat News

Earnings

SONY

Sony Group Corp. (NYSE:SONY) acknowledges the PlayStation 5 (PS5) is entering the latter stage of its life cycle, with sales projections reduced from 25 million to 21 million units for the current fiscal year. The company cites disappointing sales during the 2023 holiday quarter despite promotions. Sony anticipates a decline in PS5 sales momentum starting the next fiscal year (April 2024 - March 2025). Major PlayStation franchise releases are on hold until April 2025, impacting titles like 'God of War Ragnarok' and 'Marvel’s Spider-Man 2'. Despite this, Sony's gaming division reported record quarterly profits with $9.5 billion in revenue, driven by strong PS5 and PS4 game sales. Sony plans to diversify its game lineup with exclusive 'second-party' titles to boost PS5's appeal.

Portfolio Pulse from Franca Quarneti

February 14, 2024 | 6:59 pm

AKAM

COIN

IWM

UBER

U.S. stocks rebounded with the S&P 500 and Nasdaq 100 up by 0.4% and 0.5% respectively, driven by positive corporate earnings. The iShares Russell 2000 ETF (IWM) saw a significant rally of 1.7%. Bitcoin surpassed a $1 trillion market value. In the commodities market, U.S. natural gas prices dropped. Notable stock movements included Uber Technologies Inc. (UBER) and Akamai Technologies Inc. (AKAM) due to their earnings reports. Other companies like MGM, IQVIA, Charler River Laboratories, Kraft Heinz, Welltower, Airbnb, Lyft, and QuidelOrtho also reacted to earnings. Crypto-related stocks such as Coinbase, Marathon Digital, and Riot Platforms saw rallies.

Portfolio Pulse from Piero Cingari

February 14, 2024 | 6:51 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is expanding its global footprint by seeking partnerships in Saudi Arabia and the UAE, aligning with China's initiative to strengthen Gulf relations. This strategic move aims to help Alibaba recover from recent regulatory challenges and strategic missteps in China. The company's recent financial performance showed a slight miss in revenue and adjusted earnings expectations. Meanwhile, PDD Holdings Inc (NASDAQ:PDD) is mentioned as a domestic competitor, having experienced a significant stock price increase last year, contrasting Alibaba's decline.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 6:43 pm

CRSP

Deep-pocketed investors have shown a bearish sentiment towards CRISPR Therapeutics (NASDAQ:CRSP), with a notable shift in options activity. Benzinga's tracking revealed 26 extraordinary options activities, with a mix of bullish and bearish sentiments, but a slight lean towards bearish with 53%. The focus is on a price band between $45.0 and $110.0. CRISPR Therapeutics, a gene editing company, has seen its stock price increase by 2.43%, reaching $74.55, with a potential overbought status indicated by the current RSI values. The next earnings report is expected in 13 days.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 6:31 pm

R

Ryder System's shares declined following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:31 pm

SITE

SiteOne Landscape Supply's shares surged following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company provided positive guidance for the future.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:30 pm

CNDT

Conduent Inc (NASDAQ:CNDT) reported mixed Q4 FY23 results with a 3.3% Y/Y revenue decline to $953 million, surpassing analyst expectations. The company saw a 6% Q/Q and 10% Y/Y increase in its new business TCV pipeline, primarily in the Government and Transportation Segment. Adjusted EBITDA rose 8.4% Y/Y to $103 million, and adjusted EPS was $0.03, missing estimates by $0.01. Conduent repurchased 6.6 million shares and ended the quarter with $498 million in cash. It also announced the sale of its Curbside Management and Public Safety Solutions businesses for $230 million, expected to close in 1H 2024. For FY24, Conduent forecasts adjusted revenue of $3.60 billion-$3.70 billion. Shares rose 2.5% to $3.4850.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 6:27 pm

CIM

Chimera Investment Corporation's shares traded lower following the announcement of disappointing Q4 results.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:20 pm

ABNB

Airbnb Inc (NASDAQ:ABNB) shares fell after reporting strong Q4 revenues but mixed guidance. Analysts adjusted ratings and price targets, noting solid performance but cautioning on Q1 growth and 2024 margin expectations. Investments in AI and international expansion were highlighted, with varying opinions on their impact.

Portfolio Pulse from Priya Nigam

February 14, 2024 | 6:19 pm

AZTR

DTSS

SONY

Sony Group Corporation's shares fell by 6.3% after reporting Q3 financial results with sales growth of 22% and an EPS beat, but revised its FY23 sales outlook downwards. Other stocks showed significant movements, with notable gainers including Datasea Inc., Earlyworks Co., Ltd., and enGene Holdings Inc., and losers like Azitra, Inc., Ohmyhome Limited, and QuidelOrtho Corporation.

Portfolio Pulse from Avi Kapoor

February 14, 2024 | 6:18 pm