Streetbeat News

Earnings

UPS

United Parcel Service Inc. (NYSE:UPS) shares fell sharply after reporting lower-than-expected revenues and future guidance. The company announced a reduction of 12,000 jobs to save costs, with labor contract-related costs exceeding estimates by $500 million. UPS's Q4 revenues were $24.9 billion, down from $27 billion, and full-year sales declined by 9.3% to $90.96 billion. The 2024 revenue forecast is set between $92 billion and $94.5 billion, below analysts' expectations of $95.57 billion, with a projected adjusted operating margin of 10% to 10.6%.

Portfolio Pulse from Piero Cingari

January 30, 2024 | 4:34 pm

CVLT

Commvault reported that its Q3 Annual Recurring Revenue (ARR) reached $752 million, marking a 17% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:33 pm

AOS

A.O. Smith Corp (NYSE:AOS) reported Q4 2023 revenue of $988.1 million, a 6% increase Y/Y, surpassing consensus estimates. North American sales grew by 7%, while Rest of World sales increased by 4%. Adjusted EPS was $0.97, beating the $0.96 consensus. The company has a strong cash position and reduced debt, repurchased 4.4 million shares in 2023, and plans to repurchase $300 million worth in 2024. A dividend of $0.32 per share will be paid on February 15. FY24 sales are projected between $3.97 billion and $4.05 billion, with adjusted EPS of $3.90-$4.15. Despite positive results and outlook, AOS shares dropped by 4.09% to $78.00.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 4:29 pm

IMCR

Immunocore's stock is trading lower following the announcement of a proposed convertible senior notes offering. The company also released preliminary financial metrics for Q4 and the full year of 2023, which seem to have influenced the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:26 pm

Helmerich & Payne's stock is trading higher following the announcement of their Q1 adjusted EPS, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:18 pm

HUBB

Hubbell Inc. reported Q4 results that exceeded expectations, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:18 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

UPS

USO

Microsoft's (MSFT) earnings report is considered the most important this season, with a focus on AI monetization and cloud revenue growth. Whisper numbers are higher than consensus, indicating potential for a significant stock move. UPS (UPS) reported earnings below whisper numbers, suggesting economic weakness, impacting the broader market. Treasury borrowing plans are lower than expected, raising questions about political motives. Layoffs at UPS and IBM's work-from-home policy are noted. Early trades show positive money flows for MSFT, NVDA, and TSLA, neutral for GOOG and META, negative for AAPL and AMZN, and mixed for SPY and QQQ. Gold (GLD) and oil (USO) are seeing buying from the momo crowd, while smart money is inactive. Bitcoin (BTC) is moving higher with speculative stocks.

Portfolio Pulse from The Arora Report

January 30, 2024 | 4:18 pm

NUE

Nucor Corporation's stock is trading higher following the announcement of their fourth-quarter results, which surpassed market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:16 pm

KURA

Kura Oncology, Inc. (NASDAQ:KURA) stock rose after reporting a 100% complete remission rate in the first 20 patients of its Komet-007 Phase 1 trial for ziftomenib. The positive preliminary clinical data, combined with a high short interest of 12.57% and heavy trading volume, are driving the stock's performance. The average 1-year price target for KURA is $31.67, with bullish analyst ratings and a street high target of $37 from Wedbush.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 4:15 pm

KURA

Kura Oncology's stock is trading higher following the release of preliminary clinical data from the first 20 patients in its KOMET-007 study. The positive response to the data suggests investor optimism about the potential of the company's ongoing research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:08 pm