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TRP

TC Energy Corp (NYSE:TRP) reported Q4 results surpassing estimates with adjusted EPS of $0.99 against a consensus of $0.83, and sales of $3.11 billion over the expected $3.03 billion. The company saw significant improvements in segmented earnings and comparable EBITDA, with notable growth in U.S. and Canadian Natural Gas Pipelines. TC Energy also announced a 3.2% increase in its quarterly dividend to C$0.96 per share and maintains a positive FY24 outlook, expecting comparable EBITDA between C$11.2 billion to C$11.5 billion. Shares rose 2.02% to $39.38.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 4:33 pm

AAPL

AMAT

AMZN

NVDA

TSLA

Applied Materials (AMAT) is highlighted as a prime 'picks and shovels' play in AI, benefiting from the demand for sophisticated chips, with strong earnings pushing tech stocks higher. Producer Price Index (PPI) data came in hotter than expected, indicating persistent inflation. Early trade money flows show positive trends for NVIDIA (NVDA) and Tesla (TSLA), neutral for Alphabet (GOOG) and Microsoft (MSFT), and negative for Apple (AAPL), Amazon (AMZN), and Meta (META). The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) show mixed money flows. The article also touches on Japan's Nikkei 225 reaching a 34-year high, and the importance of maintaining a protection band in investment strategies.

Portfolio Pulse from The Arora Report

February 16, 2024 | 4:32 pm

IVA

Inventiva SA (NASDAQ:IVA) stock is trading lower after announcing a voluntary pause in screening and randomization of new patients in the NATiV3 Phase 3 trial of lanifibranor for non-alcoholic steatohepatitis (NASH) due to a treatment-related adverse reaction. This pause may extend the trial's timeline, but the company's financials remain stable with a cash runway until Q3 2024. IVA shares dropped 20.1% to $3.15.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 4:30 pm

ODFL

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced a two-for-one stock split, effective March 27, 2024, for shareholders of record as of March 13, 2024. This will double the number of shares to approximately 217,600,000.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:25 pm

CORT

Corcept Therapeutics Incorporated (NASDAQ:CORT) announced preliminary results from its CATALYST study on Cushing's syndrome in patients with type 2 diabetes, showing a 24% prevalence rate of hypercortisolism among the first 700 patients. The company also reported a Q4 2023 EPS of $0.28, beating consensus estimates, and a revenue of $135.4 million, surpassing expectations. Corcept reiterated its FY 2024 revenue forecast of $600-$630 million, significantly above consensus estimates. Despite these positive results, CORT shares dropped 6.73% to $22.82.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 4:25 pm

HOLO

Trading of MicroCloud Hologram shares, symbolized as HOLO, has resumed after a temporary halt.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:22 pm

SMCI

On Bloomberg TV, the CEO of Super Micro Computer discussed the company's recent stock movement, providing insights into factors influencing its performance.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:16 pm

SPY

Fed's Bostic expressed caution about pushing balance sheet reductions too far, indicating a careful approach to monetary policy adjustments. This statement suggests a potentially more measured pace of balance sheet cuts, which could impact market sentiment and investor strategies.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:15 pm

SPY

Fed's Bostic anticipates the possibility of starting to lower interest rates in the summer, with flexibility to adjust the timing based on economic data. He still expects two rate cuts in 2024, noting the economy's strong momentum. This suggests a cautious yet adaptable approach to monetary policy.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:13 pm

PRLD

Prelude Therapeutics shares surged following the announcement of an increase in their FY23 EPS results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:12 pm