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BIDU

BILI

IQ

JD

US-listed Chinese stocks, including BIDU, BILI, IQ, and JD, are trading lower following Alibaba's disappointing Q3 earnings report. The negative sentiment surrounding Alibaba's performance has impacted the broader market of Chinese stocks listed in the US.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:30 pm

SPY

Fed's Collins remarks on future deflation risks being likely lower than pre-pandemic levels, citing recent volatile data. This perspective could influence monetary policy and market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:25 pm

FCX

Freeport-McMoRan (NYSE:FCX) announced Kathleen L. Quirk as its new CEO, effective June 11. Quirk, with the company since 1989 and previously CFO and President, succeeds Richard Adkerson, who remains Chairman. The leadership transition is part of a strategic plan, with Quirk's extensive experience expected to continue Freeport's successful trajectory in the mining industry. The company anticipates $5.8 billion in operating cash flows in 2024, with significant sales volumes of copper, gold, and molybdenum.

Portfolio Pulse from Stjepan Kalinic

February 07, 2024 | 5:23 pm

FI

Fiserv, Inc (NYSE:FI) reported better-than-expected Q4 financial results, with a 6% Y/Y revenue increase to $4.92 billion and adjusted EPS of $2.19, surpassing consensus estimates. The company also projected FY24 organic revenue growth of 15%-17% and adjusted EPS of $8.55-$8.70. Following the announcement, Fiserv shares rose 1.4% to $143.06. Analysts from Stephens & Co. and RBC Capital raised their price targets on Fiserv to $150 and $158, respectively.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:23 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSM) reported a 7.9% year-on-year revenue growth in January 2024, signaling a potential sector recovery. This growth, driven by strong demand for AI chips, comes despite the broader challenges in the technology sector, including a warning from Apple Inc (AAPL) about a difficult quarter ahead. TSMC, a key supplier to Apple and Nvidia Corp (NVDA), is expanding its operations globally to meet demand. The company has also beaten its fourth-quarter revenue and EPS consensus, indicating robust financial health.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:21 pm

USNA

USANA Health Sciences' shares surged following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:18 pm

SPOT

Spotify Technology SA (NYSE:SPOT) reported better-than-expected Q4 results, leading to a share price increase. Analysts from Morgan Stanley, Macquarie Research, JPMorgan, Baird, and Goldman Sachs provided positive outlooks, with price target adjustments reflecting optimism about the company's growth, profitability, and ad revenue achievements. Spotify's ad-supported listeners reached 379 million, contributing to a record $501m in ad revenue for Q4. The company is expected to approach $1 billion in profits in 2024.

Portfolio Pulse from Priya Nigam

February 07, 2024 | 5:18 pm

CTSH

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) reported Q4 results with adjusted earnings of $1.18 per share, surpassing estimates of $1.04. However, sales of $4.758 billion slightly missed expectations by $0.001 billion. The company forecasts Q1 revenue to decline by 2.7% to 1.2%, with full-year revenue expected between $19.0 and $19.8 billion. Adjusted EPS for 2024 is projected in the range of $4.50 to $4.68. Following the report, BMO Capital reduced its price target from $88 to $85, while RBC Capital increased its target from $74 to $77. CTSH shares dropped 0.2% to $78.60.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 5:17 pm

YUM

Yum! Brands Inc (NYSE:YUM) reported a 1% year-on-year sales growth for Q4 fiscal 2023, totaling $2.04 billion, which missed the analyst consensus estimate of $2.11 billion. Worldwide system sales excluding foreign currency translation grew by 5%, with KFC at 7%, Taco Bell at 6%, and Pizza Hut at 1%. Same-store sales increased by 1% overall, with KFC up 2%, Taco Bell up 3%, and Pizza Hut down 2%. The company's adjusted EPS was $1.26, below the consensus of $1.40. YUM opened 1,853 new units during the quarter and paid off a $325 million debt maturity. The operating margin expanded to 29.9%, and operating income climbed 5.4% to $609 million. The company anticipates the recent purchase of 218 KFC outlets in the U.K. and Ireland to have a negligible effect on its 2024 EPS. YUM shares are trading higher by 3.16% at $131.29.

Portfolio Pulse from Akanksha Bakshi

February 07, 2024 | 5:16 pm

RIVN

Deep-pocketed investors have shown a bearish sentiment towards Rivian Automotive (NASDAQ:RIVN), with options trading data revealing 62% bearish and 37% bullish positions. Significant options activities include both puts and calls, with a target price range from $10.0 to $22.5. The current stock price of RIVN is up 0.97% at $15.65, with analysts giving mixed ratings and target prices ranging from $17 to $25. The next earnings report is expected in 14 days.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:16 pm