Streetbeat News

Earnings

BGC

BGC Group, Inc. (NASDAQ:BGC) has announced that its fourth-quarter FY23 revenue and pre-tax Adjusted Earnings are expected to be around the high end of its previously stated outlook ranges. The company anticipates double-digit growth in revenue and pre-tax Adjusted Earnings for both the fourth quarter and full year 2023. CEO Howard W. Lutnick also mentioned progress with FMX and upcoming CFTC regulatory approval and strategic partner announcements in early 2024. BGC shares surged by 6.07% on the news.

Portfolio Pulse from Akanksha Bakshi

December 29, 2023 | 3:09 pm

AGRO

BG

IH

PRDO

STG

The article lists five value stocks in the consumer defensive sector with low P/E ratios, indicating potential undervaluation. Sunlands Technology (STG), Perdoceo Education (PRDO), Bunge Global (BG), iHuman (IH), and Adecoagro (AGRO) are highlighted with their respective P/E ratios and recent earnings per share (EPS) data. Bunge Global and Adecoagro also reported increased dividend yields compared to the previous quarter.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 2:39 pm

HCC

MOS

ORGN

SLVM

VALE

Benzinga Insights identifies value stocks in the basic materials sector with low P/E ratios, suggesting undervaluation. Vale (VALE), Origin Mat (ORGN), Warrior Met Coal (HCC), Sylvamo (SLVM), and Mosaic (MOS) are highlighted. Vale, Origin Mat, and Warrior Met Coal reported increased earnings per share (EPS) compared to the previous quarter, while Sylvamo and Mosaic experienced mixed results. Dividend yields varied, with some companies reporting decreases and others increases.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 2:38 pm

BYDDF

JBL

Jabil Inc (NYSE:JBL) has revised its Q2 FY24 guidance following the divestiture of its Mobility business to BYD Electronic (International) Company Limited, a subsidiary of BYD Co Ltd (OTC:BYDDF), for $2.2 billion. The transaction closed earlier than the anticipated date of January 31, 2024, leading to a reduction in the midpoint of the prior guidance range for net revenue by about $400 million and core EPS by $0.30. The new Q2 revenue guidance is $6.6 billion to $7.2 billion, with adjusted EPS of $1.43 to $1.83, both below consensus estimates. FY24 revenue guidance was also slightly revised to $30.6 billion, with core EPS expected to be over $9.00. CFO Mike Dastoor expressed confidence in offsetting lower Q2 income and fully utilizing the $2.5 billion repurchase authorization in FY24. JBL shares dropped slightly by 0.381% to $127.50 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 2:20 pm

FSR

Fisker Inc. (NYSE:FSR) shares are up after a positive December 2023 business update. The company reported a 300% increase in deliveries from Q3 to Q4, with total deliveries around 4,700, primarily of the Fisker Ocean One launch edition. Fisker produced 10,142 Fisker Oceans in 2023 and began customer deliveries in June, with significant numbers in September and October. The company has expanded to 12 markets, opened four flagship Lounges, and plans to announce a sales and delivery acceleration plan in January 2024. Fisker will also increase test-drive events, which have boosted sales. Shares rose 10.6% to $1.67 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 1:53 pm

ETN

Eaton Corp Inc. (NYSE:ETN) stock is currently trading at $240.00, down 0.31% in the current session. Despite this, the stock has risen 4.14% over the past month and 52.14% over the past year. The company's P/E ratio of 32.23 is higher than the Electrical Equipment industry average of 28.17, suggesting that the stock might be overvalued or expected to perform better in the future. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 1:30 pm

BGC

BGC Group anticipates Q4 revenue to be near the upper range of its forecasted $450M-$500M, with consensus at $475M. The company also expects double-digit growth in revenue and pre-tax adjusted earnings for both Q4 and the full year of 2023.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:12 pm

DTCK

Davis Commodities Ltd reported financial results for the first half of FY23 with revenue of $97.8M, down from $100.7M last year. Gross profit decreased to $4.2M from $6.7M, while income from operations and net income saw significant increases to $2.2M and $2.0M, respectively. EPS rose to $0.08 from $0.05.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:04 pm

ACAD

Analysts have provided varying ratings for ACADIA Pharmaceuticals (NASDAQ:ACAD) over the last quarter, with a total of 13 ratings ranging from bullish to bearish. The average 12-month price target for ACAD is $34.08, with a high estimate of $42.00 and a low estimate of $25.00, marking a 13.15% increase from the previous average of $30.12. Several analysts have raised their price targets and ratings, indicating a positive outlook on the company's performance. ACADIA Pharmaceuticals is a biotech company focusing on CNS disorders and has shown a revenue growth rate of 61.96% as of September 30, 2023, but with a net margin of -30.79% and an ROA of -10.22%. The company's market capitalization is below the industry average, and it has a debt-to-equity ratio of 0.16.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 1:00 pm

COP

Eight analysts have recently updated their ratings on ConocoPhillips (NYSE:COP), with a mix of bullish and neutral stances. The average 12-month price target is $140.38, with a high of $152.00 and a low of $125.00, marking a 1.75% decrease in the average target. Analysts from firms like Raymond James, UBS, JP Morgan, RBC Capital, Susquehanna, Jefferies, and Morgan Stanley have adjusted their ratings and price targets. ConocoPhillips is a major oil and gas producer with strong financial indicators such as a high net margin and ROE, but it has experienced a significant revenue decline in the last quarter.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 1:00 pm