Streetbeat News

Earnings

LI

Li Auto Inc (NASDAQ:LI) shares dropped by 3.7% to $29.20 as China missed GDP and retail sales estimates, affecting US-listed Chinese stocks. The EV sector may also be reacting to Tesla Inc's recent price cuts in China. China's Premier spoke at the World Economic Forum, projecting a 5.2% GDP growth for 2023, which is above the targeted 5%.

Portfolio Pulse from Henry Khederian

January 17, 2024 | 8:52 pm

RKLB

KeyBanc analyst Michael Leshock initiated coverage on Rocket Lab USA Inc (NASDAQ:RKLB) with an Overweight rating and a price target of $8, citing a proven business model and a viable path to profitability within 1-3 years. The demand for launch services and satellite manufacturing is growing, and RKLB is well-positioned to meet this demand, supported by increasing government budgets for space applications. Leshock highlighted RKLB's track record with Electron and progress on Neutron, which is on schedule for a late 2024 launch. He also pointed out RKLB's attractive valuation and potential for significant upside if long-term initiatives are successful. Leshock's Q4 revenue and EPS projections are in line with consensus estimates. RKLB shares were down slightly at $4.92.

Portfolio Pulse from Anusuya Lahiri

January 17, 2024 | 8:42 pm

DASH

Mizuho Securities analyst James Lee raised the price target for DoorDash Inc (NASDAQ:DASH) from $120 to $140, maintaining a Buy rating and Top Pick status. Lee anticipates resilient consumer spending in 2024, supporting growth in advertising, e-commerce, and gig economy services. Despite potential headwinds from consumer softness, Lee projects a 20% EBITDA growth for DASH in FY24, driven by gains in food and grocery delivery and potential growth from grocery advertising. DASH shares were trading down by 1.73% at $102.22.

Portfolio Pulse from Lekha Gupta

January 17, 2024 | 8:32 pm

UNB

Union Bankshares (NASDAQ:UNB) reported a decrease in quarterly earnings, with Q4 EPS at $0.68, down from $0.77 per share year-over-year, marking an 11.69% decline.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 8:32 pm

ABBV

CLSD

RGNX

Regenxbio Inc (NASDAQ:RGNX) released interim data from the Phase 2 AAVIATE trial of ABBV-RGX-314 for wet AMD, showing consistent preservation of visual acuity and retinal thickness. The therapy, developed with AbbVie Inc (NYSE:ABBV), is well tolerated with no serious adverse events and reduces treatment burden significantly. The data also supports the potential transition from a subretinal procedure to an in-office treatment, which could improve commercial viability. Analysts from Baird maintain an Outperform rating with a $34 price target, while JMP Securities highlights the paradigm-shifting potential of delivering gene therapy via Clearside Biomedical Inc's (NASDAQ:CLSD) Microinjector. RGNX shares dropped 7.98% to $14.05.

Portfolio Pulse from Vandana Singh

January 17, 2024 | 8:28 pm

META

Analysts have provided mixed ratings for Meta Platforms (NASDAQ:META) with 17 reviews in the past three months. The average 12-month price target is $401.35, up 6.79% from the previous target. Analysts' actions include raising and maintaining ratings, with price targets ranging from $350 to $470. Meta's financial performance is strong, with a market cap above industry benchmarks, a revenue growth rate of 23.21%, a net margin of 33.92%, an ROE of 8.37%, an ROA of 5.48%, and a low debt-to-equity ratio of 0.25.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 8:00 pm

AMZN

Mizuho analyst James Lee predicts a significant expansion for Amazon in cloud and retail sectors, expecting a boom in 2024. He maintains a Buy rating on Amazon (NASDAQ:AMZN) with a price target of $220. Lee foresees accelerated growth for AWS in FY24, with enterprises planning large-scale data migrations to the cloud. He also anticipates retail margin expansion due to delivery network regionalization and new initiatives like inbound delivery decentralization and Buy with Prime. Despite a lower Q4 revenue and EPS projection compared to consensus, Lee expects a 20% revenue growth and margin expansion for Amazon in FY24.

Portfolio Pulse from Anusuya Lahiri

January 17, 2024 | 7:24 pm

BFRG

DATS

DWAC

MIMO

PHUN

SCHW

TSP

U.S. stocks fell, with the Dow Jones dropping over 150 points. Charles Schwab (SCHW) reported Q4 earnings with an EPS of 68 cents, beating estimates but with a 19% revenue decline. Airspan Networks (MIMO), Digital World Acquisition Corp. (DWAC), and Bullfrog AI Holdings (BFRG) saw stock price surges due to partnership news and political developments. Conversely, TuSimple Holdings (TSP), Phunware (PHUN), and DatChat (DATS) experienced significant stock price declines due to delisting intentions and pricing of public offerings.

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 7:16 pm

NTRA

Natera (NASDAQ:NTRA) has been analyzed by 9 analysts in the last three months, with a mix of bullish and somewhat bullish ratings, and no indifferent, somewhat bearish, or bearish ratings. The 12-month price target average for NTRA has increased by 2.15% to $71.33. Analysts from firms such as Stephens & Co., BTIG, Goldman Sachs, Guggenheim, TD Cowen, Raymond James, Morgan Stanley, and UBS have provided updates on their ratings and price targets for Natera. The company's financial performance shows a revenue growth rate of 27.38% as of September 30, 2023, a net margin of -40.64%, an ROE of -15.79%, an ROA of -8.09%, and a debt-to-equity ratio of 0.56.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 7:00 pm

ETN

Eaton Corporation (NYSE:ETN) shares fell after announcing Olivier Leonetti as the new EVP and CFO, effective February 5, 2024. He replaces Thomas B. Okray, who is leaving for personal reasons. Despite the leadership change, CEO Craig Arnold expects to report strong Q4 and full-year 2023 results. Eaton previously raised its full-year adjusted EPS outlook to $8.95-$9.05 and forecasted 8-10% organic revenue growth for Q4. ETN shares dropped by 1.88% to $237.19.

Portfolio Pulse from Nabaparna Bhattacharya

January 17, 2024 | 6:22 pm