Streetbeat News

Earnings

GOOGL

Mizuho analyst James Lee maintains a Buy rating on Alphabet Inc (GOOGL) with a price target of $155, but warns of potential short-term declines in Google Cloud's revenue growth and operating margins. He compares Google Cloud's situation to AWS's past cost optimization cycle, predicting at least one or two more quarters of deceleration for Google Cloud. Lee also highlights potential headwinds from NFL Sunday Ticket licensing costs and legal expenses, which may not be fully accounted for in consensus estimates. He forecasts Q4 revenue and EPS below consensus at $84.06 billion and $1.46, respectively. GOOGL shares dropped by 2.32% to $128.80.

Portfolio Pulse from Anusuya Lahiri

December 04, 2023 | 6:44 pm

AMC

AMC Entertainment Holdings, Inc. (NYSE:AMC) stock is trading higher after the successful opening of 'Renaissance: A Film by Beyoncé', which brought in $22 million since Friday. Despite this, AMC's stock is still down over 33% for the past month and is trading below its 50-day moving average and 52-week high. The stock has also attracted significant short interest, with 11.53% of available shares sold short.

Portfolio Pulse from Erica Kollmann

December 04, 2023 | 6:31 pm

ALK

ATHE

EYPT

SSNT

UCAR

U Power Limited (NASDAQ:UCAR) shares plummeted by 54% after announcing a follow-on offering of 10 million units at $1.20 each. EyePoint Pharmaceuticals (NASDAQ:EYPT), Hawaiian Holdings (NASDAQ:HA), and Alterity Therapeutics (NASDAQ:ATHE) saw significant gains following positive trial results, acquisition news, and conference presentations, respectively. SilverSun Technologies (NASDAQ:SSNT) surged after a $1 billion investment announcement. Other notable movers included Bit Brother (NASDAQ:BETS), Lucy Scientific Discovery (NASDAQ:LSDI), and View, Inc. (NASDAQ:VIEW). On the downside, NexImmune (NASDAQ:NEXI), Meta Materials (NASDAQ:MMAT), and Clean Earth Acquisitions Corp. (NASDAQ:CLIN) experienced substantial losses. Alaska Air Group (NYSE:ALK) announced plans to acquire Hawaiian Holdings, causing its own shares to drop by 15.1%.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 6:10 pm

BODY

CVNA

HCDI

JOAN

MNSO

NEGG

PRPL

UCAR

VLCN

VMAR

ZCMD

In Monday's intraday session, several consumer discretionary stocks experienced significant movements. JOANN (JOAN) saw a 42.3% increase after its Q3 earnings report. PARTS iD (ID), Purple Innovation (PRPL), ZHONGCHAO (ZCMD), Beachbody Co (BODY), and Carvana (CVNA) also saw gains. Conversely, U Power (UCAR), Vision Marine (VMAR), Volcon (VLCN), Newegg Commerce (NEGG), Harbor Custom Dev (HCDI), and MINISO Group Holding (MNSO) faced declines.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 5:31 pm

EYPT

MMAT

SPCE

SSNT

UCAR

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all falling. U.S. factory orders decreased by 3.6% in October, more than the expected 2.8% decline. EyePoint Pharmaceuticals, Hawaiian Holdings, and SilverSun Technologies saw significant stock price increases due to positive company-specific news. Conversely, U Power, Meta Materials, and Virgin Galactic Holdings experienced substantial drops in their share prices. Gold and silver prices also fell, while oil saw a slight decrease.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 5:21 pm

NIO

TSLA

NIO Inc (NASDAQ:NIO) shares are trading higher due to updates on its global infrastructure network expansion and November delivery numbers. The company reported 15,959 vehicle deliveries in November, a 12.6% increase year-over-year, and has delivered 142,026 vehicles year-to-date. Nio's stock may also be positively influenced by Tesla Inc's (NASDAQ:TSLA) reported 17.8% year-over-year drop in China sales for November, although Tesla's China-made deliveries rose by 14% from October. Nio is expected to report a Q3 loss of 43 cents per share on revenue of $2.63 billion. Nio shares were up 1.75% at $7.28 at the time of publication.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 4:35 pm

ATHE

Alterity Therapeutics' stock price has increased following the announcement of positive efficacy data for its drug ATH434 in a primate model of Parkinson's disease.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 4:17 pm

TWLO

Twilio Inc (NYSE:TWLO) announced a workforce reduction of 5%, expecting to incur $25 million - $35 million in charges, mainly in Q4 2023. The company reaffirmed its Q4 revenue forecast of $1.03 billion - $1.04 billion and adjusted EPS of 53 - 57 cents. Twilio is streamlining its Communications business and revising its approach for Flex and Segment due to below-expectation growth in TD&A. Twilio Flex will now be reported under the Twilio Communications segment. The company is discontinuing Twilio Programmable Video as a standalone product to focus on core offerings like Messaging, Voice, and Email. CEO Jeff Lawson is optimistic about the company's direction, emphasizing opportunities in CustomerAI. Anson Funds recently acquired a stake in Twilio and is pushing for its sale. TWLO shares dropped by 0.85% to $66.19.

Portfolio Pulse from Anusuya Lahiri

December 04, 2023 | 4:11 pm

GIII

G-III Apparel Group, Ltd. (NASDAQ:GIII) is expected to report increased earnings for Q3 2024, with estimates at $2.05 per share compared to $1.35 per share in the previous year. Revenue is projected at $1.13 billion. The company previously reported a 9% year-on-year sales growth in Q2 FY24. Shares closed up 1.4% at $29.17 recently. Analysts from Barclays, Wells Fargo, Piper Sandler, and UBS have updated their price targets for GIII, maintaining ratings but increasing their targets.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 4:03 pm

POWL

Powell Industries (NASDAQ:POWL) is expected to release its quarterly earnings report on Tuesday, 2023-12-05, with an estimated EPS of $1.20. Investors are looking for an earnings beat and positive guidance for future growth. Historically, Powell Industries has exceeded EPS estimates, resulting in significant share price increases the following day. Over the last year, POWL shares have risen 175.26%, with the stock trading at $84.64 as of December 01.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 4:01 pm