Streetbeat News

Revenues

PSFE

Paysafe Limited (NYSE:PSFE) reported Q4 earnings with adjusted EPS of 66 cents, surpassing the 16 cents estimate, and revenue of $414.54 million, slightly above the $413.575 million forecast. Sales grew 8% YoY, with notable increases in the Merchant Solutions and Digital Wallets segments. Adjusted EBITDA rose 13% to $121.7 million, and adjusted net income increased 23% to $40.9 million. However, despite these positive results, PSFE shares dropped 15.5% to $12.02. The company forecasts FY24 revenue of $1.688 billion-$1.712 billion and adjusted EBITDA of $473 million-$488 million.

Portfolio Pulse from Nabaparna Bhattacharya

March 07, 2024 | 4:53 pm

BURL

Burlington Stores (NYSE:BURL) shares rose after reporting Q4 financial results surpassing expectations and providing optimistic FY24 guidance. Revenue grew 14% Y/Y to $3.126 billion, with a comparable store sales increase of 2%. Adjusted EPS was $3.69, above the expected $3.10-$3.25. Gross margin improved to 42.6%, and adjusted EBITDA increased to $412 million. For FY24, Burlington anticipates adjusted EPS of $7.00-$7.60 and sales growth of 9%-11%. Shares are up 6.40% at $219.04.

Portfolio Pulse from Lekha Gupta

March 07, 2024 | 4:31 pm

AEO

American Eagle Outfitters expects stronger sales growth and revenue in H1 due to Q4 restructuring, with D&A at $220M for the year. H2 growth anticipated to be lower.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:27 pm

AAPL

GOOGL

RIVN

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are on the rise as investors buy the dip, with Bitcoin ETFs seeing strong inflows. The Arizona Senate is considering BTC ETFs for pension funds. Gold hits an unprecedented high amid economic uncertainties. US markets and stocks record gains, while major spending bills pass in the US House to prevent government shutdown. Tech giants like Apple and Google face scrutiny and challenges, while the EV market sees activity from Rivian and Tesla. Healthcare and energy sectors also see notable developments.

Portfolio Pulse from Akanksha Bakshi

March 07, 2024 | 4:23 pm

SPY

Fed Chair Powell emphasized the commitment to maintaining a strong economy and labor market while progressing on inflation control. He noted the cooling labor market and flattening food inflation, highlighting the U.S. economy's superior performance among advanced economies.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:15 pm

CIEN

FFND

XTL

Ciena Corp (NYSE:CIEN) reported a slight revenue decline in Q1 fiscal 2024, with $1.04 billion versus the expected $1.02 billion, and an adjusted EPS of $0.66, beating the consensus of $0.48. Despite these beats, CIEN stock plunged due to a revenue decline in its Networking Platforms segment and a lower than expected revenue outlook for fiscal 2024. The company also forecasts a Q2 revenue below consensus and expects adjusted gross margins in the low-40s% for Q2. Investors can also gain exposure to CIEN through SPDR S&P Telecom ETF (NYSE:XTL) and The Future Fund Active ETF (NYSE:FFND).

Portfolio Pulse from Anusuya Lahiri

March 07, 2024 | 4:15 pm

VITL

Vital Farms shares surged following the announcement of Q4 results that exceeded expectations, along with revenue guidance for the upcoming period that surpassed analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:04 pm

CCOI

Analyst ratings for Cogent Comms Hldgs (NASDAQ:CCOI) show a mix of sentiments, with recent adjustments including both raised and lowered price targets. The average 12-month price target is now $80.0, reflecting a slight decrease. Cogent, a significant player in internet traffic and broadband for businesses, has shown impressive financial performance with a revenue growth rate of 79.04% and a net margin of 73.56%. Despite this, its revenue growth rate is below the sector average.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 4:01 pm

INVH

Invitation Homes (NYSE:INVH) has been evaluated by 7 analysts over the last three months, showing a mix of bullish to bearish sentiments. The recent ratings reveal a shift towards a more positive outlook, with an average 12-month price target of $38.43, up from $35.80. The company's financial performance indicates strong market position, revenue growth, and profitability, with a market capitalization surpassing industry averages and a net margin of 20.72%. Analysts' actions and price target adjustments reflect their response to the company's performance and market conditions.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 4:01 pm

BSX

17 analysts have provided mixed ratings for Boston Scientific (NYSE:BSX), with a recent shift towards more bullish perspectives. The average 12-month price target is now $69.24, marking a 10.78% increase from the previous target. Analysts have adjusted their ratings and price targets, reflecting optimism about the company's performance. Boston Scientific, known for its less invasive medical devices, has shown a positive revenue trend with a 14.9% growth rate as of December 31, 2023, but faces challenges in ROE and ROA compared to industry averages.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 4:00 pm