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QQQ

SPY

The upcoming Personal Consumption Expenditure (PCE) price index report for December is a critical economic indicator that could influence the stock market's direction. Economists expect the headline PCE inflation rate to remain at 2.6% year-on-year and the core PCE to slightly decelerate to 3% from November's 3.2%. If the PCE report meets or falls below expectations, it could be positive for the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ), suggesting a robust economy with controlled inflation. However, if the PCE indicates higher inflation, it could challenge the market's expectation of rate cuts and negatively impact these ETFs.

Portfolio Pulse from Piero Cingari

January 25, 2024 | 9:55 pm

V

Visa Inc. (NYSE:V) reported Q1 earnings of $2.41 per share, beating estimates of $2.34, and revenue of $8.60 billion, exceeding expectations of $8.54 billion. Payments volume and cross-border volume grew by 8% and 16% respectively. Visa forecasts Q2 net revenue growth in the upper mid to high single-digit range and full-year growth in the low double-digit range. Despite positive results, Visa shares dropped 2.73% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 25, 2024 | 9:48 pm

EBTC

Enterprise Bancorp (NASDAQ:EBTC) reported a 36.63% decrease in Q4 earnings per share, with $0.64 reported for the quarter compared to $1.01 from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:46 pm

CHMG

Chemung Financial (NASDAQ:CHMG) reported Q4 earnings of $0.80 per share, missing the consensus estimate of $1.12 by 28.57%. This represents a significant decrease of 49.37% from the $1.58 per share earned in the same quarter of the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:45 pm

BCML

BayCom Corp (NASDAQ:BCML) reported Q4 2023 earnings of $0.55 per share, missing the consensus estimate of $0.57 by 3.51%.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:45 pm

HLTH

Cue Health Inc. has announced that it expects to record an aggregate restructuring charge related to one-time termination benefits in the range of approximately $3.2M to $4.0M, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:44 pm

PCB

PCB Bancorp (NASDAQ:PCB) reported Q4 earnings of $0.41 per share, missing the consensus estimate of $0.49 by 16.33%. This represents a 29.31% decrease from the $0.58 per share earned in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:43 pm

V

Visa forecasts Q2 net revenue growth in the upper mid to high single-digits and anticipates low double-digit net revenue growth for FY24.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:41 pm

LEVI

Levi Strauss & Co (NYSE:LEVI) reported Q4 revenue of $1.64 billion, missing estimates by $0.02 billion, but earnings of 44 cents per share beat estimates by 1 cent. Direct-to-consumer revenues increased by 11%, while wholesale revenues fell by 2%. The company announced a workforce reduction of 10-15% as part of a productivity initiative expected to save $100 million in 2024, with associated restructuring charges of $110-$120 million in Q1. Levi expects 2024 revenue growth of 1-3% and adjusted earnings of $1.15 to $1.25 per share, below estimates of $1.33 per share. Shares fell 2.03% after hours.

Portfolio Pulse from Adam Eckert

January 25, 2024 | 9:41 pm

WY

Weyerhaeuser (NYSE:WY) reported Q4 earnings with an EPS of $0.16, missing estimates by 5.88% against the expected $0.17. Revenue declined by $49 million from the same period last year. The company's stock price dropped 1.34% the day after missing EPS last quarter.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:40 pm