Streetbeat News

Earnings

COLM

Columbia Sportswear's stock price declined following the announcement of disappointing Q4 financial results and future guidance that did not meet expectations.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:53 pm

MCHP

Microchip Technology Inc (NASDAQ:MCHP) reported Q3 earnings with net sales of $1.766 billion, down 18.6% Y/Y, missing consensus by a slight margin. Adjusted EPS was $1.08, surpassing the consensus of $1.04. The company experienced a decline in adjusted gross and operating margins. The Q4 outlook is below consensus expectations, with projected net sales and adjusted EPS significantly lower than estimates. Following the report, Needham raised its price target on MCHP from $85 to $90, while Susquehanna reduced its target from $105 to $100.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:48 pm

CHWY

HD

JBLU

SLB

Jim Cramer discussed the stock performance and outlook of several companies on CNBC's 'Mad Money Lightning Round'. He mentioned Chewy, Inc. (CHWY) positively, noting its low price as an opportunity. Barclays and Goldman Sachs analysts have recently adjusted their price targets for CHWY. Cramer was not optimistic about JetBlue Airways (JBLU), citing the airline industry's underperformance. JetBlue reported a Q4 operating loss but beat revenue and EPS estimates. Cramer praised The Home Depot, Inc. (HD) for its significant run, supported by a Piper Sandler upgrade. He also recommended Schlumberger Limited (SLB), highlighting its better-than-expected Q4 earnings. Stock movements for CHWY, JBLU, HD, and SLB on Thursday are also noted.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:46 pm

GEN

Gen Digital's stock is trading lower following the announcement of disappointing Q3 financial results and guidance for Q4 revenue, FY24 adjusted EPS, and FY24 revenue that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:44 pm

EMN

SON

TROX

Wall Street's most accurate analysts have recommended three high-dividend yielding stocks in the materials sector: Sonoco Products Company (SON), Eastman Chemical Company (EMN), and Tronox Holdings plc (TROX). SON plans to sell its protective solutions packaging business for $80 million. EMN posted better-than-expected Q4 earnings. TROX reported a 26% decrease in Q3 revenue compared to the previous year.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:42 pm

CLX

Clorox shares surged following the announcement of stronger than anticipated Q2 financial outcomes and an upward revision of its FY24 adjusted EPS forecast, surpassing analyst expectations.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:42 pm

DECK

Deckers Outdoor's stock price increased following the announcement of their Q3 financial results, which exceeded expectations. The company also provided positive guidance for the future.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:41 pm

AAPL

Apple's stock is trading lower following a report of a year-over-year decrease in Q1 sales in Greater China.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:41 pm

AMZN

META

The U.S. labor market added 353,000 jobs in January, surpassing expectations and indicating strong economic activity. This robust job growth, along with a steady unemployment rate at 3.7% and higher-than-expected wage growth, has impacted market expectations regarding Federal Reserve interest rate policies. Treasury yields increased, and while futures linked to major U.S. stock averages initially rose, the gains were primarily driven by tech giants Meta Platforms Inc. and Amazon.com Inc. following their positive earnings reports.

Portfolio Pulse from Piero Cingari

February 02, 2024 | 1:40 pm

FANG

META

PYPL

SNAP

TSM

UBER

On CNBC's 'Halftime Report Final Trades,' experts highlighted their picks ahead of tech earnings. Josh Brown focused on Uber Technologies, anticipating its results. Bryn Talkington recommended Diamondback Energy, noting a recent analyst adjustment. Steve Weiss favored Taiwan Semiconductor Manufacturing, mentioning its expansion plans. Sarat Sethi chose Meta Platforms, highlighting its strong quarterly results and financial moves. The article also provided recent price actions for these companies and others mentioned.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:39 pm