Streetbeat News

Earnings

BYDDY

TSLA

BYD Co Ltd, backed by Warren Buffett, is preparing for intense competition in China's EV market and is open to collaboration with Tesla Inc. BYD has outperformed Tesla in vehicle production in 2023 and expects tough competition to lead to the elimination of weaker brands within two to three years. BYD's GM of Branding and PR, Yunfei Li, praised Tesla and suggested cooperation to grow the EV market. Tesla's CEO Elon Musk confirmed BYD as a supplier. BYD anticipates being profitable amidst competition and has invested heavily in vehicle intelligence and NEV evolution. The company expects a significant profit increase for the last year, while Tesla saw a 15% gross profit decline in 2023. Berkshire Hathaway has reduced its stake in BYD.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 5:32 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin saw price increases as short positions faced liquidations. Over $72 million in crypto shorts were liquidated in 24 hours, with the largest single liquidation order on Bybit involving Bitcoin. Invesco and Galaxy Asset Management announced a fee reduction for their Bitcoin ETF, which has seen significant trading activity. The S&P 500 and other major indices rose in anticipation of tech earnings and the Federal Reserve's rate decision. Analysts predict Bitcoin could surge to $50K pre-halving, and significant Bitcoin transactions indicate $42,550 as a critical support level.

Portfolio Pulse from Mehab Qureshi

January 30, 2024 | 3:00 am

WMT

Walmart Inc (NYSE:WMT) is set to offer annual stock grants valued up to $20,000 to store managers, potentially pushing their total compensation above $525,000. This follows recent pay and bonus raises, with the new compensation structure starting February 1, raising the average base salary for U.S. store managers to $128,000. The maximum bonus has also increased, with a Supercenter manager able to earn up to $530,000 including bonuses and stock grants. Walmart's move aligns with tech industry trends of offering equity grants and follows their wage increase announcement last year. The company also expanded its drone delivery service but faced criticism over a gift card fraud network.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 2:39 am

AMZN

MSFT

SMCI

SOFI

TSLA

On Monday, U.S. stocks closed higher with Microsoft, Super Micro Computer, SoFi Technologies, Amazon, and Tesla gaining investor attention. Microsoft rose 1.43% ahead of its Q2 financial results. Super Micro's shares surged 4.54% after reporting strong quarterly sales and earnings. SoFi Technologies jumped 20.21% on increased adjusted revenue and new member additions. Amazon closed up 1.78% following the termination of its merger with iRobot. Tesla's shares increased by 4.19% amid news of Chair Robyn Denholm's stock sale plan.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 1:58 am

FSBC

Five Star Bancorp (NASDAQ:FSBC) exceeded analyst expectations for Q4 with EPS of $0.63 against estimates of $0.59, a 6.78% beat. However, this represents an 18.18% decrease from the previous year's EPS of $0.77. Sales reached $28.61M, surpassing estimates of $27.51M by 4.01%, but marked a 6.90% decline from the prior year's $30.74M.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:04 pm

SMBC

Southern Missouri Bancorp reported a Q2 earnings per share (EPS) of $1.07, which fell short of the estimated $1.12 by analysts.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:56 pm

SMBC

Southern Missouri Bancorp (NASDAQ:SMBC) reported Q2 sales of $40.13M, missing the consensus estimate of $41.17M by 2.54%. Despite the miss, this represents a 19.04% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:50 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is set to report Q2 financial results after market close on January 30. Analysts expect revenue of $61.10 billion and EPS of $2.78, with potential beats on both. Wedbush analyst Daniel Ives highlights the importance of AI and cloud growth, particularly Azure, for Microsoft's future, calling it Microsoft's 'iPhone Moment'. Other analysts also maintain positive ratings with high price targets. AI infusion in tech and concerns over deepfake AI are key topics, alongside the impact of layoffs in Microsoft's gaming division.

Portfolio Pulse from Chris Katje

January 29, 2024 | 10:39 pm

NUE

Nucor Corp (NYSE:NUE) reported Q4 earnings of $3.16 per share, surpassing estimates of $2.87 per share, with sales of $7.70 billion exceeding expectations of $7.65 billion. Despite a year-over-year decrease in sales and shipments, the company expects an increase in Q1 earnings for 2024. Nucor's stock rose 1.62% in after-hours trading following the earnings beat.

Portfolio Pulse from Ryan Gustafson

January 29, 2024 | 10:26 pm

CLS

Celestica Inc. forecasts Q1 revenue to be between $2.025B-$2.175B, surpassing the estimated $1.987B. The company also anticipates adjusted EPS to range from $0.67-$0.77, which is higher than the estimated $0.60.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:24 pm