Streetbeat News

Earnings

TSLA

Tesla, Inc. (TSLA) shares dropped in premarket trading due to rumors of declining electric vehicle demand in China, a crucial market for Tesla. Sales data indicated a decrease in Tesla's EV sales in China, with 8,200 units sold in the week of Feb 5-18, down from 10,600 units the previous week. Analyst Gordon Johnson from GLJ Research highlighted the sales drop and reduced first-quarter delivery estimates by TroyTeslike due to production issues. Johnson remains bearish on Tesla, predicting that EV manufacturing will prove unprofitable by 2024.

Portfolio Pulse from Shanthi Rexaline

February 20, 2024 | 1:59 pm

HD

Home Depot's stock is trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:53 pm

TCMD

Tactile Systems Technologies projects its FY24 revenue to be between $300M-$305M, which is below the estimated $309.197M.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:50 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is focusing on expanding its international e-commerce business, which saw a 44% revenue increase to $4 billion in the December quarter, contrasting with a modest 2% growth in its core businesses, Taobao and Tmall Group. CEO Eddie Wu, succeeding Daniel Zhang, aims to invest in user experiences, public cloud products, and international commerce growth. Alibaba faces competition from PDD Holdings Inc (NASDAQ:PDD) and others. Despite challenges, Alibaba's stock rose close to 3% last week, with notable investments from figures like Michael Burry and institutions such as Renaissance Technologies.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 1:50 pm

CNP

CenterPoint Energy, Inc. (CNP) reported Q4 adjusted earnings per share of 32 cents, aligning with expectations and marking a 14% year-over-year increase. This growth was driven by regulatory recovery and a one-time tax benefit. Additionally, CNP announced the sale of its Louisiana and Mississippi natural gas operations to Bernhard Capital Partners for $1.2 billion, representing less than 4% of its rate base. The sale will fund a $1 billion boost to its capital plan, now totaling $44.5 billion through 2030. CNP reaffirmed its 2024 EPS guidance, indicating an 8% growth.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 1:49 pm

NUWE

Nuwellis is set to announce clinical data at the upcoming Technology and Heart Failure Therapeutics Conference, potentially impacting its stock.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:48 pm

NXRT

NexPoint Residential Trust (NXRT) projects its full-year 2024 Funds From Operations (FFO) to be approximately $2.66, which is below the estimated $2.82.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:46 pm

POLA

Polar Power, Inc. (NASDAQ:POLA) announced $2.9 million in new bookings for January 2024, from both international and domestic Tier-1 customers, focusing on DC backup power generation systems. This figure is compared to $3.7 million in new bookings for Q1 2023. The bookings are driven by increased power demand, diminishing grid power availability, rising diesel fuel costs, and the need for broadband in rural areas. A significant portion of the orders came from repeat and expanded business in Puerto Rico, where Polar Power's products have excelled in extreme weather conditions. The company's use of super capacitors over traditional batteries is highlighted as a key success factor. Polar Power is optimistic about continued financial recovery and improvement in 2024, noting progress in diversification and competitive advantages in fuel efficiency and maintenance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:40 pm

WMT

Walmart's CFO reported better than expected holiday sales, with two record-breaking volume days leading up to Christmas, as mentioned during a conference call.

Portfolio Pulse from Charles Gross

February 20, 2024 | 1:33 pm

EXPD

Expeditors Intl (NASDAQ:EXPD) reported Q4 earnings of $1.09 per share, missing the $1.23 estimate, and sales of $2.28B, missing the $2.31B estimate. This represents a 21.01% decrease in earnings and a 33.81% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:32 pm