Streetbeat News

Earnings

UNP

Union Pacific Corporation (NYSE:UNP) reported Q4 FY23 results surpassing consensus estimates with operating revenue of $6.159 billion and EPS of $2.71. Despite better results, the company faces a muted volume outlook for 2024 due to loss in international intermodal business, lower coal demand, and soft economic conditions. Union Pacific plans a $3.4 billion capital investment for 2024. Following the report, analysts at BMO Capital, RBC Capital, and JP Morgan revised their price targets for UNP, with BMO Capital increasing it to $275, RBC Capital decreasing it to $272, and JP Morgan lowering it to $237. UNP shares dropped 1% to $239.20.

Portfolio Pulse from Avi Kapoor

January 26, 2024 | 4:52 pm

AAL

AMSC

DWAC

LVTX

VERA

Benzinga's Stock Whisper Index highlighted five stocks: AAL, DWAC, VERA, AMSC, and LVTX. AAL reported strong Q4 results, beating estimates and receiving analyst upgrades, with shares up 13% in five days. DWAC shares hit two-year highs after Trump's primary wins and DeSantis' endorsement, with a SPAC merger deadline extended to March 8, 2024. VERA shares soared after positive Phase 2b trial results, leading to analyst upgrades and a 95% weekly gain. AMSC reported a 60% YOY revenue increase in Q3 and strong demand for new energy power systems. LVTX shares rose 40% after announcing a clinical trial collaboration with MRK for a prostate cancer treatment.

Portfolio Pulse from Chris Katje

January 26, 2024 | 4:50 pm

FCNCA

First Citizens BancShares Inc (NASDAQ:FCNCA) reported Q4 FY23 results with revenue of $1.91 billion, missing consensus estimates of $2.38 billion. Net interest income increased to $1.91 billion from $802 million a year ago, with improved margins. The CET 1 ratio improved to 13.36% from 10.08% a year ago. Adjusted EPS of $46.58 missed the consensus of $47.98. The provision for credit losses was $249 million, up from $79 million a year ago. Loans and leases totaled $133.30 billion, and deposits were $145.85 billion. A quarterly dividend of $1.64 per share was declared, payable on March 15, 2024. Despite missing revenue and EPS estimates, FCNCA shares surged 4.83% to $1,480.57.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 4:49 pm

BTBT

Bit Digital's CEO confirmed the potential to increase the company's annualized revenue from its initial HPC AI customer contract to $50M per year. Additionally, it was confirmed that margins in the HPC business are significantly higher than in Bitcoin mining, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 4:31 pm

BAH

Booz Allen Hamilton Holding Corp (NYSE:BAH) reported strong third-quarter fiscal 2024 results, with a 12.9% year-on-year sales growth to $2.57 billion, surpassing the consensus of $2.54 billion. Adjusted EPS increased to $1.41 from $1.07, beating the consensus of $1.14. Operating margin improved significantly, and the company raised its quarterly dividend by $0.04 to $0.51 per share. Booz Allen also raised its FY24 outlook for sales growth, adjusted EPS, adjusted EBITDA, and operating cash flow. BAH shares surged 13.1% to $145.76 following the positive report.

Portfolio Pulse from Akanksha Bakshi

January 26, 2024 | 4:28 pm

PYPL

The article provides an industry comparison of PayPal Holdings (NASDAQ:PYPL) against its competitors in the Financial Services industry. It highlights PayPal's financial metrics such as P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth, comparing them to industry averages and top peers. PayPal shows favorable growth potential with a lower P/E ratio than the industry average, potential undervaluation with a lower P/B ratio, and strong profitability with higher EBITDA and gross profit. However, it has a lower ROE and revenue growth compared to the industry, suggesting inefficiencies and limited expansion opportunities.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 4:02 pm

IBM

IBM (NYSE:IBM) is analyzed in comparison to its IT Services industry competitors, revealing its strong market positioning and growth potential. Key financial metrics such as P/E, P/B, P/S, ROE, EBITDA, gross profit, and revenue growth are examined, with IBM showing favorable growth potential, possible undervaluation, efficient equity use, robust profitability, and market outperformance. IBM's debt-to-equity ratio suggests a balanced financial structure.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 4:01 pm

PROV

Provident Financial Holdings (NASDAQ:PROV) is scheduled to release its quarterly earnings report on Monday, 2024-01-29, with analysts expecting an EPS of $0.25. Investors are looking for an earnings beat and positive guidance for the next quarter. Historically, the company's stock price has been sensitive to earnings performance and guidance. Last quarter, PROV missed EPS estimates by $0.03, resulting in a 3.96% share price drop the following day. Over the last year, PROV shares have slightly increased by 0.62%, with the stock currently trading at $14.5.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 4:01 pm

HITI

High Tide (NASDAQ:HITI) is expected to release its quarterly earnings report on January 29, 2024, with an estimated EPS of $-0.03. Investors are looking for an earnings beat and positive guidance for the next quarter. Historically, the company's stock price has been sensitive to earnings performance and guidance. Last quarter, High Tide missed EPS estimates by $0.00, resulting in a 13.78% share price drop the following day. Over the last 52 weeks, HITI shares have increased by 8.38%, trading at $1.89 as of January 25.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 4:01 pm

AMD

INTC

NVDA

SMCI

SOXL

TSM

Intel Corp (NASDAQ:INTC) reported disappointing earnings and weak guidance, leading to a downgrade in price targets by Goldman Sachs and Wells Fargo. This news negatively impacted semiconductor stocks, including NVIDIA Corp (NASDAQ:NVDA) and Advanced Micro Devices Inc (NASDAQ:AMD), which had previously seen significant gains. Super Micro Computer Inc (NASDAQ:SMCI) had strong preliminary results, boosting the sector last week. The Direxion Daily Semiconductor Bull 3x Shares (NYSE:SOXL) dropped over 5%, while Intel's stock fell over 11%. NVIDIA and AMD initially dipped but recovered, and Taiwan Semiconductor (NYSE:TSM) traded up nearly 1%.

Portfolio Pulse from Aaron Bry

January 26, 2024 | 4:01 pm