Streetbeat News

Earnings

QRVO

Analysts have provided mixed reviews for Qorvo (NASDAQ:QRVO) over the past three months, with recent ratings showing a more cautious stance. The average 12-month price target has decreased to $103.9 from $113.78, reflecting a bearish sentiment. Analysts from firms like Piper Sandler, Morgan Stanley, BMO Capital, Mizuho, JP Morgan, Raymond James, Barclays, Susquehanna, and Citigroup have adjusted their price targets and ratings, indicating a response to Qorvo's market performance and financial indicators such as revenue decline, below-average net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 3:00 pm

ENPH

Enphase Energy (NASDAQ:ENPH) has been rated by 16 analysts in the past three months, with an average 12-month price target of $126.88, down from the previous $157.55. Ratings range from bullish to indifferent, with no bearish or somewhat bearish ratings. Analysts have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Enphase Energy's financials show a negative revenue trend with a -13.18% decline, but strong profitability with a net margin of 20.68% and high ROE and ROA. The company has a high debt-to-equity ratio of 1.28.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 3:00 pm

ATXI

EJH

MBLY

MINM

OMGA

SLS

U.S. stocks were mixed in the morning with the Dow Jones gaining, while the NASDAQ and S&P 500 fell. Energy shares rose, consumer discretionary shares fell. U.S. initial jobless claims dropped to 202,000, beating estimates. Minim, Inc. (MINM) surged 186%, Omega Therapeutics (OMGA) jumped 108% after a collaboration with Novo Nordisk, and Avenue Therapeutics (ATXI) gained 48% after an FDA agreement. SELLAS Life Sciences (SLS) fell 33% after a public offering announcement, Mobileye Global (MBLY) dropped 26% after preliminary FY23 results and 2024 guidance, and E-Home Household Service Holdings (EJH) declined 28%. Oil and gold prices increased, while silver and copper decreased.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 2:48 pm

FCNCA

FUNC

IBCP

MAIN

SBFG

The article highlights five value stocks in the financial services sector with low price-to-earnings (P/E) multiples, suggesting they may be undervalued. The stocks mentioned are Independent Bank (IBCP), First United (FUNC), Main Street Capital (MAIN), SB Financial Group (SBFG), and First Citizens BancShares (FCNCA). The article provides recent earnings per share (EPS) data and dividend yield changes for each company, indicating their financial performance and shareholder returns.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 2:47 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) delivered 100 Class 1 and 141 Class 3 vehicles to Randy Marion Automotive Group by Dec. 31, 2023, totaling $12,559,520 in invoices. An additional 185 Class 1 vehicles are scheduled for delivery by Jan. 8, 2024. These deliveries are part of a larger order consisting of 6,000 Class 1 vehicles worth $200 million and 1,000 Class 3 vehicles worth $63 million, with the majority to be delivered throughout 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:46 pm

TSLA

BYD surpassed Tesla in Q4 2023 EV sales with 526,000 vehicles, while Tesla led annual sales with 1.8 million despite demand decline from higher borrowing costs. Tesla's stock surged 110% in 2023 but dipped 3% in early 2024. Investors await Tesla's Q4 earnings report on January 24th, with an estimated EPS of $0.74, after a Q3 miss. Tesla's stock closed at $248.42, down 0.07% after the closing bell on January 2.

Portfolio Pulse from Zaheer Anwari

January 04, 2024 | 2:46 pm

CCJ

The spot uranium price has reached a 10-year high at $92 per pound, driven by global efforts to expand nuclear power and supply challenges. Cameco (NYSE:CCJ), a major uranium producer, has seen its stock rise 89.7% in 2023 but recently stagnated despite the bullish uranium market. The company may need to purchase uranium to meet contracts and has the financial strength to invest in new projects. Long-term contracts, rather than spot market activity, typically dictate uranium trade, which could affect Cameco's operations.

Portfolio Pulse from Stjepan Kalinic

January 04, 2024 | 2:41 pm

CTRA

MUR

PBR

PUMP

RES

The article identifies five value stocks in the energy sector based on their low P/E ratios, suggesting they may be undervalued. Coterra Energy (CTRA), Petrobras Brasileiro (PBR), Murphy Oil (MUR), RPC (RES), and ProPetro Holding (PUMP) are highlighted. The article provides recent earnings per share (EPS) data and dividend yield changes for these companies, indicating mixed financial performance in the recent quarter.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 2:39 pm

Ford Motor Company reported a 7.1% increase in U.S. sales, reaching nearly 2 million vehicles in 2023. This growth indicates a strong demand for Ford's product lineup, including their popular trucks and electric vehicles. The positive sales figures could reflect consumer confidence in Ford's brand and offerings, potentially leading to a favorable outlook for the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:20 pm

DAN

DHI

ITB

KMX

LEN

PHM

QQQ

SPY

Analysts at Nomura predict a 'mild recession' in the second half of 2024, impacting homebuilders and auto stocks due to tight financial conditions. Equity markets have retreated in 2024, with concerns over an economic slowdown affecting corporate earnings. The SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) showed slight pre-market gains after recent losses. Homebuilders like DR Horton (DHI), Lennar (LEN), and Pulte Group (PHM) face risks from high mortgage rates and a potential slowdown in housing markets. The iShares U.S. Home Construction ETF (ITB) also declined after a strong 2023. The labor market is cooling, with potential increases in unemployment rates. Consumer spending is expected to slow, with rising credit card delinquency rates and the resumption of student loan repayments. Auto stocks like CarMax (KMX), Ford Motors (F), and Dana Inc (DAN) have already seen declines in early 2024.

Portfolio Pulse from Neil Dennis

January 04, 2024 | 2:17 pm