Streetbeat News

Revenues

NXT

Nextracker Inc. (NASDAQ:NXT) shares surged after reporting Q3 earnings that doubled analyst estimates and raising its full-year 2024 revenue outlook. Earnings per share were 96 cents, surpassing the expected 48 cents. Revenue increased by 38.38% year-over-year to $710.43 million. The company now expects 2024 revenue between $2.425 billion and $2.475 billion. Following the earnings release, analysts from Goldman Sachs, Wells Fargo, and JP Morgan raised their price targets for NXT. The stock hit a 52-week high of $54.95, trading above its 50-day moving average of $43.29.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 3:49 pm

RCL

Royal Caribbean Cruises Ltd (NYSE:RCL) reported mixed Q4 FY23 results with a 27.8% Y/Y sales growth to $3.33 billion, slightly missing estimates, but an adjusted EPS of $1.25 beating expectations. Despite initial gains, RCL shares dropped 0.85% to $126.42. The company saw increased passenger ticket revenues and operating income, with a notable occupancy rate of 105.4%. Looking ahead, Royal Caribbean provided a positive outlook for Q1 and full-year 2024, expecting significant increases in net yields and adjusted EPS above consensus estimates.

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 3:38 pm

TM

Toyota Motor North America reported a significant increase in its U.S. sales for January, with a total of 165,753 vehicles sold, marking a 23.3% rise on a volume basis according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:36 pm

RCL

A Royal Caribbean executive announced during a conference call that the company has already secured 40% of its pre-cruise revenue for this year, compared to the same period in 2023. This indicates a strong booking momentum and potentially higher revenue expectations for the current year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:19 pm

THR

Thermon Group Holdings announced its FY24 adjusted EPS is expected to be around $1.76-$1.84, below the estimated $1.90. Revenue is projected to be approximately $490M-$500M, slightly above the $488.975M estimate.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:16 pm

MKTX

MarketAxess Holdings (NASDAQ:MKTX) has received mixed analyst ratings over the past quarter, with a shift towards a more bearish outlook in the last 30 days. The average 12-month price target for MKTX has been raised to $256.5, indicating a 1.79% increase from the previous target of $252.00. Analysts from Goldman Sachs, Rosenblatt, Barclays, and Citigroup have updated their ratings and price targets, reflecting varied expectations for the company's performance. MarketAxess, a leading electronic fixed-income trading platform, has shown a slight revenue growth and strong financial metrics such as net margin, ROE, and ROA, despite a market capitalization below industry averages.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:00 pm

SPY

Construction Spending in December increased by 0.9%, surpassing the estimated growth of 0.5%. This indicates a stronger than expected performance in the construction sector.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:00 pm

DB

Deutsche Bank AG (NYSE:DB) announced it will cut 3,500 jobs, primarily in back-office roles, as part of an efficiency drive. This move, representing about 4% of its global workforce, is accompanied by plans for share buybacks and dividends. The bank aims to reassure investors of its recovery, focusing more on its retail division, which has been the main revenue driver since 2023. Despite exceeding Q4 expectations, Deutsche Bank faces challenges, including regulatory scrutiny and a potentially difficult 2024 due to anticipated interest rate cuts.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 2:54 pm

HIHO

Highway Holdings reported a significant increase in its Q3 net sales, reaching $4.1M, which is a 60% rise year-over-year. Earnings per share (EPS) also saw a substantial increase, rising to $0.07 from $0.01 in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 2:32 pm

SIRI

Sirius XM Holdings Inc (NASDAQ: SIRI) reported a flat Q4 FY23 revenue of $2.287 billion, slightly missing consensus estimates. Adjusted EPS was $0.09, beating expectations. Subscriber revenue was flat at $1.72 billion, while advertising revenue remained steady at $479 million. The company saw a 1% decline in self-pay subscribers year-over-year, ending with 34 million. Pandora's ad revenue grew by 1% to $436 million, despite a decrease in monthly active users and listener hours. SiriusXM's FY24 revenue outlook is set at $8.75 billion, below consensus estimates, with an adjusted EBITDA of $2.70 billion and free cash flow of $1.20 billion. SIRI shares rose 2.56% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 2:30 pm