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VMC

Vulcan Materials' shares surged following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:44 pm

TXRH

Texas Roadhouse Inc (NASDAQ:TXRH) shares surged premarket Friday after reporting strong fourth-quarter FY23 results. Revenue increased by 15.3% Y/Y to $1.164 billion, surpassing consensus estimates. Comparable restaurant sales also saw significant growth. The company announced an 11% increase in its quarterly cash dividend to $0.61 per share and repurchased shares worth $4.8 million. Texas Roadhouse reiterated its FY24 outlook, expecting positive comparable restaurant sales growth and a menu price increase of about 2.2% in late March.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 1:44 pm

NWG

NatWest Group's shares are trading higher following the announcement of improved Q4 financial results compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:43 pm

TOST

Toast shares surged following the announcement of better-than-expected Q4 financial results and optimistic Q1 guidance for adjusted subscription services and financial technology solutions. Additionally, the company has authorized a $250 million share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:40 pm

JZ

Jianzhi Education Technology Group Company Limited (JZ) announced a change in its ADS ratio from 1 ADS representing 2 ordinary shares to 1 ADS representing 6 ordinary shares, effective around February 20, 2024. This adjustment will act similarly to a one-for-three reverse ADS split for Jianzhi's ADS holders. The change aims to increase the trading price of Jianzhi's ADSs on the Nasdaq, though there's no guarantee of the post-change price meeting expectations. No fractional new ADSs will be issued; instead, net cash proceeds from the sale of fractional entitlements will be distributed to the ADS holders.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:37 pm

COIN

HTOO

ROKU

Coinbase Global (COIN) shares surged 16% following better-than-expected Q4 results and positive Q1 guidance, with Canaccord Genuity upgrading its price target. Fusion Fuel (HTOO) soared 292% after receiving IPCEI approval from the European Commission for its HEVO-Portugal project. Roku (ROKU) shares fell 18% due to disappointing Q4 results and a downgrade by Oppenheimer.

Portfolio Pulse from ryanfaloona@benzinga.com

February 16, 2024 | 1:37 pm

DBX

Dropbox shares are trading lower following the release of their Q4 financial results. Additionally, the stock received downgrades from JMP Securities, moving from Market Outperform to Market Perform, and from B of A Securities, changing from Buy to Underperform with a price target reduction from $34 to $28.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:36 pm

F

GM

HYMTF

STLA

Stellantis N.V. (NYSE:STLA) reported strong earnings for 2023 despite a profit drop in the second half due to a UAW strike. It was the third consecutive year of record results since its formation in 2021, though U.S. sales declined, falling behind Hyundai Motor Company (OTC:HYMTF). Hyundai outperformed Stellantis in U.S. sales, becoming the fourth best-selling automaker. Ford Motor (NYSE:F) and General Motors (NYSE:GM) also reported strong financial results, with Ford reversing a 2022 loss into a 2023 profit and GM posting increased revenue and net income. Stellantis plans to launch 18 new EVs in 2024, aiming for another solid performance year.

Portfolio Pulse from Upwallstreet

February 16, 2024 | 1:36 pm

SPY

U.S. producer inflation in January exceeded expectations, rising by 0.3% month-over-month and by 0.9% year-over-year, leading to a reevaluation of Federal Reserve rate cut expectations for 2024. The core PPI also saw significant increases, surpassing forecasts. This news impacted Treasury yields, the U.S. dollar, and futures on major U.S. averages, with the SPDR S&P 500 ETF Trust (SPY) experiencing a shift to the downside in premarket trading after reaching record highs.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 1:36 pm

HTOO

Fusion Fuel Green PLC (NASDAQ:HTOO) shares surged in premarket trading after the company announced its HEVO-Portugal project was selected for approval under the European Commission's IPCEI Hy2Infra program. The project, valued at €650 million, aims to produce 62,000 tonnes of green hydrogen annually in Sines, Portugal. This approval allows Fusion Fuel to begin funding discussions with government entities and the European Investment Bank.

Portfolio Pulse from Nabaparna Bhattacharya

February 16, 2024 | 1:32 pm