Streetbeat News

Revenues

NIC

In the past three months, Nicolet Bankshares (NYSE:NIC) received four indifferent analyst ratings, with a shift towards a negative sentiment as the average 12-month price target was decreased by 1.37% to $87.12. Analysts from Stephens & Co. and Keefe, Bruyette & Woods, among others, adjusted their price targets and ratings, reflecting recent market dynamics and company performance. Nicolet Bankshares showcases strong financial health with a market capitalization above industry average, a revenue growth rate of 9.91%, and superior net margin and ROE compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 4:00 pm

GXO

Recent analysis of GXO Logistics (NYSE:GXO) by 5 analysts shows a mix of bullish to bearish sentiments, with a shift in ratings and price targets over the last three months. The average 12-month price target is now $65.6, down from $70.50, reflecting a 6.95% decline. Analyst actions include adjustments to ratings and price targets, with notable firms like Loop Capital, JP Morgan, Exane BNP Paribas, Susquehanna, and Citigroup participating. GXO Logistics, a contract logistics company, has shown positive financial performance, including a revenue growth rate of 4.99% as of December 31, 2023, and strong profitability indicators such as a net margin of 2.82%, ROE of 2.56%, and ROA of 0.78%.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 4:00 pm

ALK

Alaska Air's CFO reported in a conference call that the economy is expanding, supported by wage growth and improving consumer sentiment. Trends indicate a continuing preference for spending on travel and experiences over goods.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:56 pm

RTX

RTX Corp has signed its largest renewable energy agreement with ENGIE Resources LLC, a subsidiary of ENGIE North America, to supply 100% renewable electricity to 12 of its Texas facilities until 2033. This deal nearly doubles RTX's renewable electricity usage in 2023 and will reduce its carbon emissions by 560,000 metric tons, supporting its goals for 2025 and 2030 in renewable energy usage and greenhouse gas reduction.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 3:48 pm

USDTUSD

Tether, the world's largest stablecoin creator, is restructuring into four divisions to expand its focus beyond stablecoins. The divisions include Data, focusing on AI investments; Finance, managing the USDT stablecoin; Power, overseeing Bitcoin mining investments; and Education, for educational activities. This move comes amid criticisms of Tether's transparency and reports of USDT being used to fund war activities by a Russian operative. Tether reported $6.2 billion in profits in its 2023 annual report, with significant USDT usage in countries like Brazil and Nigeria.

Portfolio Pulse from Khyathi Dalal

April 18, 2024 | 3:40 pm

FQVLF

RIO

Rio Tinto (NYSE:RIO) and Saudi Arabia's Manara Minerals Investment are reportedly interested in acquiring First Quantum Minerals' (OTCPK: FQVLF) Zambian assets, including the Sentinel and Kansanshi mines valued at $6 billion. These mines are significant for First Quantum, accounting for about half of its copper output and revenue last year. The sale is part of First Quantum's restructuring efforts, which also include cost-cutting and raising capital through stock sales and note offerings. Zambia's mining sector, crucial for these operations, faces challenges such as energy supply issues, declining ore grades, and fiscal policies.

Portfolio Pulse from Stjepan Kalinic

April 18, 2024 | 3:39 pm

TSM

Taiwan Semiconductor's CEO, C.C. Wei, announced in a conference call that the company expects revenue from AI processors to more than double this year and to account for a low-teens percentage of total revenue in 2024. Over the next five years, this segment is forecasted to grow at a 50% CAGR, increasing to over 20% of the company's revenue by 2028.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:24 pm

TSM

Taiwan Semiconductor's CFO, Jen-Chau Huan, forecasts Q2 revenue to be between $19.6B-$20.4B, marking a 6% sequential and 27.6% YoY increase. Gross margin is expected to range from 51%-53%, with operating margin between 40%-42%. The company will accrue tax on undistributed retained earnings, leading to a slightly above 19% tax rate for Q2, before reducing to 13%-14% in Q3 and Q4. The FY tax rate is projected to be between 15%-16%, up from 14.5% YoY.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:22 pm

ACMR

AMD

HHUSF

ICG

INTC

KFVG

China mandates leading telecom operators to eliminate foreign semiconductors by 2027, impacting Intel and AMD, which derive significant revenues from China. Despite potential revenue loss, KraneShares CIO Brendan Ahern views the impact on Intel and AMD as limited, citing the directive's focus on government procurement. Ahern suggests the KraneShares CICC China 5G and Semiconductor Index ETF (KFVG) and stocks like Hua Hong Semiconductor (HHUSF), Intchains Group (ICG), and ACM Research (ACMR) as potential investment opportunities amid China's push for semiconductor self-sufficiency.

Portfolio Pulse from Surbhi Jain

April 18, 2024 | 3:12 pm

CARR

Carrier Global (NYSE:CARR) has received mixed analyst ratings over the past quarter, with 3 somewhat bullish and 2 indifferent ratings. The 12-month price targets show an average of $64.2, with a slight decrease from the previous $64.25. Analysts from firms like Oppenheimer, Citigroup, Barclays, RBC Capital, and Wells Fargo have updated their ratings and price targets, reflecting various adjustments based on Carrier Global's performance and market conditions. Carrier Global, a manufacturer in HVAC, refrigeration, and fire and security products, plans to divest certain businesses and acquired Viessmann for $13 billion. Despite its market capitalization indicating a strong market position, Carrier Global faces challenges in revenue growth, profitability, and debt management.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 3:02 pm