Streetbeat News

Revenues

MSGS

Madison Square Garden Sports Corp. (NYSE:MSGS) shares rose after reporting Q2 fiscal 2024 revenue of $326.89 million, surpassing Wall Street's estimate of $325.72 million, despite an 8% year-over-year decline. The decrease in revenue was partially offset by higher local media rights fees and league distributions, even as the Knicks and Rangers played nine fewer home games. Earnings per share were $0.59, above the $0.55 estimate, but adjusted operating income fell 43% year over year. The company ended the quarter with $41.23 million in cash and equivalents. MSGS shares increased by 4.65% to $190.28.

Portfolio Pulse from Nabaparna Bhattacharya

February 06, 2024 | 6:11 pm

VVX

Analysts have diverse views on V2X (NYSE:VVX), with recent evaluations showing a mix of bullish and indifferent stances. The average 12-month price target is $59.25, slightly up from the previous $59.00. V2X, serving the U.S. government, shows strong financial indicators like revenue growth and net margin, despite a high debt-to-equity ratio. The company's market capitalization is below industry benchmarks, indicating potential growth or operational capacity concerns.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 6:00 pm

AGCO

AGCO Corp reported a 2.5% decline in Q4 fiscal 2023 net sales to $3.80 billion, missing the $4.03 billion consensus. Adjusted operating income fell 13.2% Y/Y to $405.3 million, with a margin contraction to 10.7%. Adjusted EPS was $3.78, below the $4.02 consensus. For 2024, AGCO expects net sales of $13.6 billion and EPS of ~$13.15, aiming for operational efficiencies amid challenging market conditions. Shares rose 2.85% to $124.38.

Portfolio Pulse from Akanksha Bakshi

February 06, 2024 | 5:46 pm

XPEV

XPeng Inc. (NYSE:XPEV) shares are experiencing an uptick amid overall gains in Chinese stocks, driven by China's initiatives to support its economy. Despite a 42% drop in January and a nearly 40% decrease year-to-date, the company is upgrading its first plant to boost capacity. The stock's current price is below its 200-day moving average, suggesting mixed signals for its future trajectory.

Portfolio Pulse from Erica Kollmann

February 06, 2024 | 5:10 pm

SPY

USO

The U.S. Energy Information Administration (EIA) has updated its forecast for world oil demand growth, increasing the 2024 forecast by 30,000 barrels per day to a year-over-year increase of 1.42 million barrels per day. For 2025, the forecast has been raised by 80,000 barrels per day, resulting in a year-over-year increase of 1.29 million barrels per day.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:09 pm

SPY

Fed's Mester comments on inflation and interest rates, noting encouraging signs in recent inflation data but cautioning against expecting a swift return to 2% inflation. Mester also mentioned that the situation in the Red Sea has not yet impacted supply chains and warned against premature rate cuts.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:02 pm

SPY

Fed's Mester emphasized that inflation needs to show a sustainable decrease before considering rate cuts. She expects inflation to return to 2% over time, with growth and employment expected to moderate this year. Mester also highlighted the risk of the labor market cooling faster than anticipated.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:01 pm

MQ

Marqeta (NASDAQ:MQ) has received mixed analyst ratings over the past three months, with 6 analysts offering views ranging from bullish to bearish. The average 12-month price target is $7.5, marking a 13.98% increase from the previous average of $6.58. Analysts from Wells Fargo, Barclays, Keybanc, Truist Securities, Mizuho, and Morgan Stanley have all raised their price targets for Marqeta. The company, known for its card-issuing platform, faces financial challenges with a -43.17% revenue decline and below-industry-standard profitability metrics.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:00 pm

AXS

Axis Capital Holdings (NYSE:AXS) has been analyzed by 4 analysts, showing a diverse range of perspectives with recent ratings ranging from bullish to bearish. The average 12-month price target is $68.75, indicating a 6.18% increase from the previous target of $64.75. Analysts from Keefe, Bruyette & Woods, UBS, and Wells Fargo have adjusted their price targets and ratings, reflecting a dynamic view on the company's performance. Despite the positive adjustments in analyst ratings, Axis Capital Holdings faces financial challenges, including a -4.96% decline in revenue growth, a net margin of -10.64%, and an ROE of -3.27%, indicating potential difficulties in maintaining profitability and efficiently utilizing assets.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 4:00 pm

NOV

A comprehensive analysis of 5 analyst recommendations for NOV (NYSE:NOV) reveals a mixed sentiment, with recent ratings ranging from bullish to indifferent. Over the past quarter, the sentiment has shifted towards a more cautious stance, with the latest 30-day period showing an indifferent rating. Analysts have adjusted their 12-month price targets for NOV, resulting in an average target of $25.8, down 7.86% from the previous average. Key analysts from RBC Capital, Stifel, Raymond James, TD Cowen, and JP Morgan have made various adjustments to their ratings and price targets, reflecting their views on NOV's market performance and future prospects. NOV, a leading supplier in the oil and gas industry, has shown positive revenue growth and strong financial health indicators such as net margin, ROE, and ROA, despite a market capitalization below industry averages.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 4:00 pm