Streetbeat News

Revenues

GM

General Motors Company (NYSE: GM) surpassed Q4 expectations with sales of $42.98 billion against a $38.97 billion estimate and adjusted EPS of $1.24 over the $1.16 estimate. Despite a slight decline in market share in the U.S. and China, Q4 deliveries increased. Operating income dropped to $0.9 billion from $2.6 billion Y/Y. GM expects its U.S. EV business to grow in the second half of 2024, projecting an adjusted EPS of $8.50 - $9.50 for FY24, above the consensus of $7.83. GM shares rose 7.94% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 1:07 pm

SYY

Sysco Corporation has reaffirmed its fiscal year 2024 guidance, projecting mid-single digit sales growth to approximately $80 billion and an adjusted EPS growth of 5%-10% to $4.20 to $4.40. This is in comparison to a consensus estimate of $79.46 billion in sales and an adjusted EPS of $4.32.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:06 pm

UBER

23 analysts have recently shared their views on Uber Technologies (NYSE:UBER), with a mix of bullish and bearish sentiments. The average 12-month price target is $66.87, up from the previous $60.82. Analysts from firms like B of A Securities, Truist Securities, and Goldman Sachs have raised their price targets, indicating a positive outlook for Uber's stock. Uber's financial performance shows strong revenue growth, net margin, ROE, and ROA, with a conservative debt-to-equity ratio. These factors, combined with the analysts' ratings, suggest a favorable short-term outlook for Uber's stock.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:01 pm

HIW

Highwoods Props (NYSE:HIW) received mixed analyst ratings over the past three months, with a recent average price target of $23.5, down from $28.67. Deutsche Bank and Truist Securities maintain a 'Buy' rating, while Morgan Stanley has an 'Underweight' stance and B of A Securities holds a 'Neutral' position. The company's financials show positive revenue growth, a high net margin, and ROE, but a concerning debt-to-equity ratio. Highwoods Properties is a REIT focusing on urban properties in the Southern U.S., with significant revenue from Atlanta, Raleigh, Nashville, and Tampa markets.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:00 pm

SQ

Block (NYSE:SQ) has received mixed analyst ratings over the past three months, with 10 analysts offering evaluations. The average 12-month price target is $83.4, a 9.49% decrease from the previous $92.14. Recent actions include ratings and price target adjustments by analysts from Wedbush, BTIG, Mizuho, BMO Capital, Barclays, CLSA, Piper Sandler, RBC Capital, Goldman Sachs, and Canaccord Genuity. Block's financial performance shows a revenue growth rate of 24.4% as of September 30, 2023, but it lags in net margin and ROE compared to industry averages. Its debt-to-equity ratio is below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:00 pm

STT

State Street (NYSE:STT) received mixed analyst ratings in the latest quarter, with 10 analysts offering varied perspectives. The average 12-month price target increased to $85.6, up from $80.00. Analysts from firms like Morgan Stanley, RBC Capital, and others have raised or maintained their ratings and price targets, reflecting updates based on market conditions and company performance. Despite positive analyst sentiment, State Street's financial performance shows challenges in market capitalization, revenue growth, net margin, ROE, and ROA, although it has a sound debt management with a debt-to-equity ratio of 0.99.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 1:00 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is experiencing a premarket stock price increase, marking a potential third consecutive session of gains after reaching an eight-month low last week. The uptrend is notable given flat index futures and concerns over big tech earnings. The rise is attributed to strong weekly China-insured registration data indicating approximately 12,800 Tesla vehicles were insured in the last week of January, surpassing the average of 10,000 for the same week historically. This is the highest fourth-week performance of a quarter ever for Tesla. China is a key market for Tesla, accounting for about half of its vehicle production and 22.5% of its 2023 revenue. Bargain hunters may also be driving the stock's recovery after a recent drop to $182.10. In premarket trading, TSLA shares increased by 2.35% to $195.41.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 12:47 pm

HCA

HCA Healthcare projects its FY24 revenues to range between $67.75B and $70.25B, surpassing the consensus estimate of $67.67B. The company also anticipates its earnings per share (EPS) to be between $19.70 and $21.20, which is higher than the consensus estimate of $19.52.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:38 pm

AMD

GOOGL

MSFT

QQQ

SPY

Wall Street exhibited caution on Tuesday as investors awaited key earnings from Microsoft, Alphabet, and AMD. The Federal Reserve Open Market Committee began its two-day meeting, with outcomes influencing market sentiment. Monday saw a rally in U.S. stocks, with major indices hitting new records. Analyst Tom Lee warned of a potential pullback after a parabolic move since October. Premarket trading saw slight declines in SPY and QQQ ETFs. Key economic data releases are expected, and several companies reported earnings with mixed results. F5, Inc. saw a premarket surge, while other companies like GM and Whirlpool also moved on earnings news.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 12:25 pm

GLW

Corning (NYSE:GLW) reported Q4 2023 earnings per share (EPS) of $0.39, which was in line with analyst estimates. The company's core sales reached $3.27 billion, slightly surpassing the consensus estimate of $3.25 billion by 0.59%. However, this represents a 9.94% decrease from the $3.63 billion in sales reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:11 pm