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CRM

Salesforce Inc (CRM) reported Q4 results surpassing estimates with revenues of $9.29 billion and EPS of $2.29. The company announced its first-ever cash dividend and increased its share repurchase program by $10 billion. Analysts have raised price targets, contributing to a rebound in the stock price after an initial drop. Salesforce projects strong future earnings and revenue, positioning itself to capitalize on increased tech spending.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 2:12 pm

AZTD

FI

FOUR

Fiserv, Inc (NYSE:FI) and Amadeus IT Group are competing to acquire Shift4 Payments Inc (NYSE:FOUR), valued at nearly $7 billion. Shift4 Payments, a payment processing firm, reported a 31% year-on-year gross revenue growth to $705.4 million, missing consensus estimates. The company processes over $200 billion annually for more than 200,000 clients. Tidal ETF Trust Aztlan Global Stock Selection DM SMID ETF (NYSE:AZTD), with a 4% exposure to Shift4 Payments, saw a 2.4% gain in the last six months. Shift4's shares increased by 2.44% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 2:11 pm

ABEV

Ambev (NYSE:ABEV) reported Q4 earnings, beating estimates with an EPS of $0.07 against the expected $0.05, marking a 40.0% beat. Revenue increased by $268.00 million from the same period last year. The company has a history of surpassing EPS estimates, which previously led to a 2.0% share price increase the following day.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 2:10 pm

HTCR

HeartCore Enterprises, Inc. (HTCR) has entered into a Go IPO contract with Jyo, expecting to generate $700,000 in initial fees. Additionally, HTCR will receive a warrant to acquire 2% of Jyo's common stock, marking a significant development for the company.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:09 pm

EA

MSFT

NERD

SONY

TCEHY

Electronic Arts Inc (EA) announced a plan to lay off 5% of its workforce, around 670 employees, focusing on core gaming franchises and online communities. This move is part of a broader strategy to consolidate office space and halt development on certain video games, with estimated charges of $125 million to $165 million. The restructuring aims to streamline operations and focus on successful franchises like Apex Legends, Battlefield, and The Sims. Similarly, Sony, Microsoft, and Tencent's Riot Games have also announced layoffs in their gaming divisions. The Roundhill Video Games ETF (NERD), with close to 10% exposure to EA, has gained 0.46% year-to-date. EA shares traded higher by 2.17% at $143.12 premarket.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 2:07 pm

CWT

California Water Servs Gr (NYSE:CWT) reported Q4 earnings with an EPS of $0.52, missing estimates by -58%, and revenue increased by $13.57 million year-over-year. Despite past earnings misses, share price reactions have been minimal.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 2:05 pm

GOOG

GOOGL

XLC

Alphabet Inc's Google is facing a 2.1-billion-euro lawsuit from 32 media groups, including Axel Springer and Schibsted, over its digital advertising practices. The lawsuit accuses Google of market dominance abuse, leading to financial losses for these media companies. This legal action is part of broader antitrust scrutiny that Big Tech companies like Google, Apple, Amazon, Meta Platforms, and Microsoft are facing. The lawsuit was filed in a Dutch court, known for its strategic importance in antitrust damage claims in Europe. U.S. Big Tech companies continue to face regulatory scrutiny and lawsuits globally. The Communication Services Select Sector SPDR Fund, with significant exposure to Google, has seen a 9% increase year-to-date.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 2:03 pm

AZO

Barclays analyst Seth Sigman maintains an Overweight rating on AutoZone (NYSE:AZO) and raises the price target from $2779 to $3100, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:02 pm

INTT

inTest (AMEX:INTT) is scheduled to release its quarterly earnings report on Friday, 2024-03-01, with analysts expecting an EPS of $0.13. The company's past earnings performance shows mixed results with both beats and misses compared to estimates, leading to varied stock price reactions. Shares of inTest have declined by 19.2% over the last 52 weeks, indicating a negative sentiment among long-term shareholders ahead of this earnings release.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 2:01 pm

MUX

McEwen Mining (NYSE:MUX) is expected to report a Q4 earnings per share (EPS) of $-0.28 on March 1, 2024. Analysts and investors will be looking for an earnings beat and positive guidance for future growth. The company's past earnings performance shows a mix of beats and misses, with the share price reacting accordingly. Shares are currently trading at $5.94, down 18.88% over the last 52 weeks, indicating potential investor concern ahead of the earnings release.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 2:01 pm