Streetbeat News

Earnings

SPY

Nonfarm productivity for Q4 increased by 3.2%, surpassing the expected 2.4% and showing a decrease from the previous 5.2%.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:30 pm

RACE

Ferrari NV (NYSE:RACE) has projected a significant increase in its revenue and core earnings for 2024, based on a strong order book and successful performance in 2023. The company expects its adjusted EBITDA to reach at least 2.45 billion euros in 2024, up from 2.28 billion euros in 2023. This announcement led to a 6% increase in Ferrari's stock in premarket trading. The company's long-term business plan targets an adjusted EBITDA of 2.5-2.7 billion euros for 2026. Ferrari's shares were trading around $369.96 to $370 in premarket. Speculations about Lewis Hamilton joining Scuderia Ferrari in 2025 are also making headlines.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 1:28 pm

DB

Deutsche Bank AG (NYSE:DB) shares surged premarket Thursday after reporting Q4 FY23 results with mixed financial performance. The bank saw a 5% Y/Y revenue growth to €6.66 billion, missing consensus in USD terms. Key highlights include a 9% increase in Corporate Bank net revenues, a 10% rise in Investment Bank net revenues, and a 4% decline in Private Bank revenues. Noninterest expense grew by 5% due to restructuring and severance costs. EPS of $0.72 beat consensus, and the bank announced plans to increase share repurchases and dividends by at least 50% Y/Y in 2024.

Portfolio Pulse from Lekha Gupta

February 01, 2024 | 1:27 pm

C

MA

NMR

As of Feb. 1, 2024, Nomura Holdings, Inc. (NMR), Citigroup Inc. (C), and Mastercard Incorporated (MA) are highlighted as overbought financial stocks, potentially signaling a warning for momentum-focused investors. NMR's RSI is at 74.49 following a quarterly EPS decline, C's RSI is at 70.64 after an upgrade by Morgan Stanley, and MA's RSI stands at 78.22, buoyed by strong quarterly net revenues and strategic achievements.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:27 pm

GREE

Greenidge Generation Holdings Inc. (GREE) reported its preliminary Q4 2023 earnings per share (EPS) to be between $0.18 and $0.32, compared to the estimated $0.20. The company's revenue is expected to be around $19.7 million, surpassing the estimated $16.012 million.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:27 pm

X

U.S. Steel Corporation (NYSE:X) offers a 0.43% annual dividend yield, with Q4 earnings expected to show a decrease in both earnings per share and revenue compared to the previous year. Nippon Steel plans to acquire U.S. Steel for $55 per share. Investors can earn significant monthly income from dividends with substantial investment in U.S. Steel shares.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 1:23 pm

BTCUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin fell after the Fed left rates unchanged, signaling a temporary setback. Meanwhile, a new ETF allows investment in major tech stocks, and Binance faces a lawsuit for allegedly aiding terrorists. In the US, market sentiment declined following the Fed's decision, impacting stocks and the Dow. Globally, tensions with Iran and China's cyber activities raise concerns. Economic indicators suggest a looming recession, while in tech, Apple's new products and partnerships draw attention. The electric vehicle sector sees advancements and legal challenges for Tesla.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 1:22 pm

RKLB

Rocket Lab USA Inc (NASDAQ:RKLB) shares dropped after announcing a $275 million convertible senior notes offering and preliminary Q4 financial results. The funds will partly repay borrowings and finance capped call transactions. Preliminary Q4 revenues are expected between $59 million and $61 million, with a net loss of $49 million to $52.5 million. The company also highlighted its 43rd Electron mission success and a record backlog, indicating a strong future outlook despite the current financial loss.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 1:20 pm

SILC

Silicom (NASDAQ:SILC) reported Q4 2023 adjusted EPS of $(0.07), missing the $(0.03) estimate, with sales of $18.80M also missing the $20.00M estimate. This represents a 58.40% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:11 pm

ITW

Illinois Tool Works (ITW) has provided its FY24 GAAP EPS guidance in the range of $10.00-$10.40, compared to the $10.18 estimate. The company expects an operating margin of 25.5 to 26.5 percent, with enterprise initiatives contributing about 100 basis points. ITW also plans to repurchase approximately $1.5 billion of its shares and anticipates a free cash flow greater than 100 percent of net income. The projected effective tax rate is expected to be between 24 to 24.5 percent.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:07 pm