Streetbeat News

Revenues

CVNA

DPZ

MODV

PPC

WDAY

ZM

The CNN Money Fear and Greed index slightly declined but remained in the 'Extreme Greed' zone. U.S. stocks closed mixed, with the Dow Jones reaching an all-time high. The S&P 500 and Dow recorded weekly gains. Carvana Co. shares surged over 32% after Q4 financial results, while ModivCare Inc. shares plummeted due to a weak sales forecast. The number of active U.S. oil rigs increased. Most S&P 500 sectors saw gains, except for energy and consumer discretionary. Investors anticipate earnings results from Workday, Zoom Video Communications, Pilgrim's Pride, and Domino's Pizza.

Portfolio Pulse from Avi Kapoor

February 26, 2024 | 7:48 am

GS

Goldman Sachs Group Inc (NYSE:GS) has entered into a $1 billion private credit deal with Abu Dhabi's Mubadala Investment Co. to expand its private credit business in the Asia-Pacific region, focusing on India. This move is part of Goldman's strategy to grow its presence in the alternative investment space and capitalize on the surging interest in the Asia-Pacific market. The deal follows a trend of increasing private credit collaborations in the Middle East, with Barclays and Mubadala engaging in similar partnerships.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 6:35 am

LI

Chinese EV companies are increasingly adopting extended-range electric vehicles (EREVs) to address concerns over electric range and charging infrastructure. IM Motors, a unit of SAIC Motor Corp, is introducing a gas engine in its new model with a 124-mile electric range. Li Auto Inc (NASDAQ:LI) has found success with EREVs, indicating strong market demand. Other companies like Avatr Technology, Leapmotor, and Neta Auto are also developing EREVs, which use a gas engine solely as a range extender, unlike hybrids that use both power sources to drive.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 5:03 am

AAPL

Apple, Inc. (NASDAQ:AAPL) is exploring innovative wearable products including a smart ring and smart glasses, as reported by Bloomberg's Mark Gurman. These products aim to enhance Apple's ecosystem, with the smart ring focusing on health-tracking features and the smart glasses offering audio capabilities, AI, and camera functionalities for object identification. These developments are in the early stages, with the smart ring being a concept and the glasses in the exploratory phase. Gurman also mentioned the possibility of equipping AirPods with cameras and advanced AI. The introduction of these wearables could strengthen Apple's wearable device business, which currently represents 10% of the company's revenue.

Portfolio Pulse from Shanthi Rexaline

February 25, 2024 | 6:44 pm

ALCPF

This week's top economic news includes concerns among Japanese businesses about a potential Trump return, IRS targeting wealthy Americans for tax evasion, Taiwanese chip firms expanding in Japan due to US-China decoupling, Saudi Arabia's financial strains from development projects, and Indonesia's 'Swiftonomics' tourism strategy. Notably, Alchip Techs (OTC:ALCPF) is moving R&D from China to Japan amid semiconductor industry shifts.

Portfolio Pulse from Benzinga Neuro

February 25, 2024 | 12:03 pm

TCOM

Trip.com Group (NASDAQ:TCOM) received mixed analyst ratings, with an updated average 12-month price target of $58.00, reflecting a 7.91% increase from the previous target. Analysts from Barclays, UBS, and Mizuho raised their price targets, indicating a positive outlook on the company's performance. Trip.com, a leading online travel agent in China, shows strong financials with significant revenue growth, high net margin, and efficient asset management, despite a lower ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 8:00 pm

ALTR

Altair Engineering (NASDAQ:ALTR) received mixed analyst ratings with an updated average 12-month price target of $91.0, reflecting a 7.69% increase from the previous target. The company's financial performance shows a 12.28% revenue growth but struggles with profitability and debt management. Analysts from RBC Capital, Oppenheimer, Rosenblatt, and JP Morgan provided recent evaluations, adjusting their ratings and price targets based on Altair's market dynamics and performance.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 8:00 pm

FXI

KWEB

MCHI

China's real estate sector shows signs of stabilization with a slower decline in home prices, attributed to Beijing's efforts and the PBOC's rate cut. However, challenges remain, including a significant YoY drop in contracted sales and vulnerabilities in lower-tier cities. ETFs like KWEB, MCHI, and FXI offer exposure to Chinese equities, which may be influenced by these developments.

Portfolio Pulse from Surbhi Jain

February 23, 2024 | 7:27 pm

FOXF

Fox Factory Hldg (NASDAQ:FOXF) has received mixed analyst ratings over the past three months, with a recent shift towards a more cautious stance. The average 12-month price target has been adjusted to $61.25, down from $79.67, reflecting a 23.12% decrease. Analysts from B of A Securities, Stifel, and Truist Securities have updated their ratings and price targets, indicating a response to market dynamics and company performance. Despite challenges in revenue growth and below-average ROE and ROA, Fox Factory Hldg maintains a strong net margin and a prudent debt management strategy.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:01 pm

ARDX

Ardelyx (NASDAQ:ARDX) has seen varied analyst ratings over the last three months, with a current mix of bullish and somewhat bullish opinions. The average 12-month price target for ARDX has risen to $13.00, up from $10.50, indicating a positive outlook from analysts. Recent actions by analysts include rating adjustments and price target changes, reflecting an optimistic view on Ardelyx's financial performance and market position. The company, focusing on therapeutics for gastrointestinal and cardiorenal diseases, has shown significant revenue growth and strong financial metrics, including a high net margin and ROE.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:00 pm