Streetbeat News

Revenues

BBU

Brookfield Business Partners reported Q4 revenues of $13.405 billion, a decrease from $14.64 billion year-over-year. However, net income significantly improved to $1.42 billion, up from a net loss of $14 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:56 am

ETON

Eton Pharmaceuticals has announced the commercial availability of Nitisinone Capsules, targeting an ultra-rare disease market. The company projects the current Nitisinone market to exceed $50M annually.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:53 am

LYB

LyondellBasell Industries anticipates that seasonally slow demand and economic uncertainty will persist as challenges for most of its businesses in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:34 am

MFG

Mizuho Financial Group (MFG) reported Q3 earnings of $0.12 per share, surpassing the $0.08 estimate, with sales rising 34.32% YoY to $12.97B from $9.65B.

Portfolio Pulse from totan@benzinga.com

February 02, 2024 | 11:16 am

CI

Cigna projects its 2024 revenues to be at least $235 billion and adjusted EPS to be at least $28.25, slightly above the consensus revenue forecast of $229.24 billion but just below the EPS consensus of $28.26.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:07 am

AAPL

Apple Inc. (AAPL) reported a 2% increase in quarterly revenue, reaching $119.6 billion, with significant contributions from the Indian market. The company achieved an all-time high quarter in revenue in India, driven by strong iPhone demand and record-breaking Services segment revenue. Apple's success in India is highlighted by exceeding 10 million units in shipments, despite a stagnant trend in India's smartphone shipments in 2023. The company's focus on offline sales and attractive trade-in deals contributed to this achievement.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 02, 2024 | 9:06 am

AAPL

AMZN

HON

MRK

U.S. stocks closed higher with the Dow Jones gaining over 350 points, influenced by positive earnings reports and economic data. Merck & Co and Amazon reported strong financial results, while Honeywell International faced a decline. The Fed maintained interest rates, and economic indicators like jobless claims and manufacturing PMI showed mixed results. Energy stocks underperformed despite overall market gains.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 8:26 am

EWA

Australia's Home Loans for the month showed a significant decline of 5.6%, a stark contrast to the previous month's revised figure of 0.3% growth. This indicates a cooling in the housing market, which could have broader implications for the economy.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:35 am

AAPL

Jim Cramer expressed concerns over Apple's performance in China, highlighting a revenue decline in the market. Despite Apple Inc. (NASDAQ:AAPL) reporting an overall increase in its first-quarter earnings, with record Services and iPhone revenue, the company saw a 12.9% sales decline in China. This downturn in the Chinese market, a critical region for Apple, led to a slide in the stock's after-hours trading.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 5:25 am

API

DB

NYCB

The commercial real estate sector's struggles have led to a significant drop in regional bank stocks, highlighted by New York Community Bancorp, Inc.'s (NYCB) 40% drop due to a Q4 loss from distressed loans. Other banks like Agora Inc (API) and Deutsche Bank AG (DB) also faced declines. The looming $2.2 trillion debt in the US commercial property sector threatens smaller banks, with some offloading property loan portfolios to reduce exposure.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 2:22 am