Streetbeat News

Revenues

ADBE

ASLE

CLNE

GPMT

HMC

MOR

MWA

OCUL

Adobe Inc. reported Q4 earnings of $4.27 per share, beating estimates of $4.14, with revenue of $5.05 billion, slightly above the $5.03 billion estimate. However, Adobe issued a weak sales forecast for FY24, expecting revenue between $21.30 billion and $21.50 billion, below the $21.73 billion estimate. This resulted in a 6.1% drop in pre-market trading. Other stocks such as Ocular Therapeutix, AerSale Corporation, Granite Point Mortgage Trust, Honda Motor, MorphoSys AG, Clean Energy Fuels, and Mueller Water Products also saw pre-market declines despite various company-specific news.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 10:44 am

EWQ

TSLA

VLKAF

According to Reuters citing ACEA, 65% of electric cars sold in France are eligible for the country's state bonus scheme. This incentive is expected to boost the electric vehicle market in France in 2024.

Portfolio Pulse from Charles Gross

December 14, 2023 | 10:11 am

LCID

Lucid Group Inc (NASDAQ:LCID) has produced about 800 electric vehicles at its Saudi Arabian facility and trained over 200 local employees. The plant, which opened in September with a capacity of 5,000 EVs per year, is part of a deal to sell up to 100,000 vehicles to the Saudi government over ten years. The vehicles are assembled from semi-knockdown kits made in Arizona. Lucid, which is 60% owned by Saudi Arabia's PIF, aims to have a fully operational factory by 2026. The company reported Q3 revenue of $137.81 million with a loss of 28 cents per share and has adjusted its production target to 8,000-8,500 vehicles for the year.

Portfolio Pulse from Anan Ashraf

December 14, 2023 | 9:22 am

NFLX

'Cocomelon,' a children's series on Netflix Inc. (NASDAQ:NFLX), has achieved over 600 million hours of watch time, surpassing 'Stranger Things.' Initially a YouTube video, 'Cocomelon' has become a six-season series on Netflix, ranking as the fourth most-watched show on the platform. Owned by Moonbug and acquired by a Blackstone-backed firm, 'Cocomelon' also maintains a strong presence on YouTube. The show's success highlights the significance of children's content in streaming, with Netflix reporting nearly 100 billion hours of total content watch time in the first half of 2023 and ending the third quarter with 247.15 million global paid subscribers.

Portfolio Pulse from Ananya Gairola

December 14, 2023 | 6:40 am

ADBE

COST

JBL

LEN

U.S. stocks surged after the Federal Reserve maintained interest rates and projected a gradual reduction by the end of 2024. The Dow Jones jumped over 500 points, and the S&P 500 and Nasdaq also closed higher. Adobe Inc. reported strong Q4 earnings but a weak full-year sales forecast for 2024. Investors are looking forward to earnings from Lennar Corporation, Costco Wholesale Corporation, and Jabil Inc. The CNN Money Fear and Greed index indicated increased market greed.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 6:37 am

EWA

Australia's unemployment rate for November was reported at 3.9%, slightly higher than the estimated 3.8% but consistent with the revised prior rate of 3.8%.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:52 am

EWA

Australia reported a significant increase in employment change for November, with 57.0K jobs added compared to the revised prior figure of 10.7K. This indicates a stronger job market in Australia.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:52 am

EWA

Australia's employment change for November was reported at 61.5K, significantly surpassing the estimate of 11.0K and the previous month's revised figure of 42.7K.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:51 am

EWU

The U.K. RICS House Price Balance for November came in at -43%, which is better than the estimated -57% and an improvement from the prior revised figure of -61%. This indicates a less negative sentiment in the U.K. housing market than expected.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:51 am

AAPL

ADBE

BABA

PFE

TSLA

U.S. stock indices rose on Wednesday, with the Dow Jones, S&P 500, and Nasdaq all seeing gains after Fed Chair Jerome Powell hinted at a peak in interest rates with potential cuts ahead. Apple Inc. faced an EU antitrust lawsuit but its stock remained strong. Adobe Inc. saw a dip due to a weak Q1 revenue forecast despite beating Q4 expectations. Pfizer Inc.'s stock dropped after lowering its FY24 revenue forecast and mixed drug trial results. Alibaba Group had a slight increase amidst ongoing challenges. Tesla Inc. rose slightly, maintaining optimism despite a large vehicle recall.

Portfolio Pulse from Benzinga Neuro

December 14, 2023 | 2:46 am