Streetbeat News

Earnings

LKFN

Lakeland Financial's stock price has increased following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:51 pm

PARA

Paramount CEO Bob Bakish announced layoffs at the company, aiming to operate more leanly and manage costs effectively. The exact number of layoffs was not disclosed. Paramount is also reducing international content spending. The company will report quarterly earnings at the end of February and will provide more details on its 2024 strategy. This news comes amidst industry-wide layoffs and reports of Skydance Media's interest in taking Paramount private.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:35 pm

VIRT

Virtu Financial Inc. (VIRT) shares have declined following the announcement of the company's fourth-quarter financial results, which fell short of market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:27 pm

AAL

ALK

URI

VERA

XRX

Alaska Air Group, Inc. (ALK) reported Q4 operating revenue of $2.55 billion, a 3% increase Y/Y, and an adjusted EPS of $0.30, beating consensus estimates. Shares rose 5.5%. Other stocks also saw gains, including Vera Therapeutics (VERA), AlTi Global (ALTI), and United Rentals (URI), following positive news such as earnings beats, analyst upgrades, and trial data. Xerox (XRX) and American Airlines (AAL) also moved higher after reporting their financial results.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 6:26 pm

ARKK

SARK

TSLA

Tesla, Inc (TSLA) experienced a significant drop of about 13% after reporting Q3 earnings that missed expectations, with an EPS of 71 cents versus the consensus estimate of 74 cents, and revenues of $25.17 billion against the expected $25.62 billion. The AXS Short Innovation Daily ETF (SARK), which inversely tracks the ARK Innovation ETF (ARKK) with Tesla as a major holding, saw a 0.9% return. The Tesla stock chart indicates a potential further decline towards the $171 level, with current resistance and support levels identified.

Portfolio Pulse from Melanie Schaffer

January 25, 2024 | 6:19 pm

UNP

Union Pacific Corporation (NYSE:UNP) exceeded Q4 FY23 revenue expectations with $6.159 billion against a $6.05 billion consensus. EPS was $2.71, surpassing the $2.57 consensus. Despite flat operating revenue and income, the company saw improvements in freight car velocity, locomotive productivity, and workforce productivity. However, Union Pacific warned of a muted volume outlook for 2024 due to factors like international intermodal business loss, lower coal demand, and soft economic conditions. UNP shares dipped slightly by 0.54% following the announcement.

Portfolio Pulse from Akanksha Bakshi

January 25, 2024 | 6:12 pm

LUV

During a conference call, a Southwest Airlines executive expressed the view that factors negatively impacting industry capacity are likely to worsen throughout the year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:10 pm

LUV

Southwest Airlines CFO anticipates capital expenditures for 2024 to be between $3.5 billion and $4 billion. The company has refined its capacity plans for the current year, allowing for increased flying during shoulder periods, as discussed in a conference call.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:10 pm

AKTS

INBS

LVTX

PCSA

RDHL

TSLA

VERA

Tesla, Inc. (TSLA) shares fell over 12% after reporting Q4 results that missed consensus estimates, with revenue at $25.17 billion against an expected $25.62 billion and EPS at 71 cents versus 74 cents expected. Meanwhile, U.S. stocks were slightly higher, with the Nasdaq up 0.2%. Communication services shares led gains, while consumer discretionary shares, including Tesla, lagged. Oil prices rose 2%, and Vera Therapeutics (VERA), Processa Pharmaceuticals (PCSA), and LAVA Therapeutics (LVTX) saw significant stock increases due to positive clinical trial data and partnerships. Conversely, RedHill Biopharma (RDHL), Akoustis Technologies (AKTS), and Intelligent Bio Solutions (INBS) experienced sharp declines.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 6:08 pm

INTU

Financial analysts have provided varying ratings for Intuit (NASDAQ:INTU) over the last quarter, with an average 12-month price target of $623.58, reflecting an 11.35% increase from the previous target. Recent actions by analysts mostly involve raising price targets and maintaining positive ratings. Intuit's financial performance shows a 14.67% revenue growth rate but below-average net margin, ROE, and ROA. The company has a lower debt-to-equity ratio compared to industry norms.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 6:01 pm