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EXTR

Extreme Networks, Inc. (NASDAQ:EXTR) reported mixed Q2 FY24 results with a revenue decline of 6.9% Y/Y to $296.37 million, slightly above consensus but with an adjusted EPS miss. The company forecasts lower than expected revenue and EPS for Q3 and Q4, attributing challenges to the final stages of COVID-induced supply chain constraints. Shares fell 18.8% following the announcement. Analysts from UBS and Needham revised their price targets and ratings for EXTR.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 12:28 pm

NSC

An investor group led by Ancora, holding a $1B stake in Norfolk Southern, is pushing to oust CEO Shaw, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

February 01, 2024 | 12:27 pm

AAPL

AMZN

META

QQQ

SPY

Nasdaq futures rebounded as traders anticipate strong earnings from tech giants Meta, Amazon, and Apple. The market reacted negatively to disappointing earnings from Alphabet, Microsoft, and AMD, and a hawkish Fed stance. The S&P 500 and Nasdaq Composite hit two-week lows. Analysts highlight the 'January Barometer' predicting a positive market trend for the year. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket gains. Several companies, including Qorvo and Lucid Group, showed significant premarket movements.

Portfolio Pulse from Shanthi Rexaline

February 01, 2024 | 12:27 pm

RCI

Rogers Communications (NYSE:RCI) reported a Q4 adjusted EPS of $0.87, up 7.41% from $0.81 YoY, but missed sales estimates with $3.92B against the expected $3.99B. This represents a significant increase in sales from $3.10B the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:26 pm

PTON

Peloton has projected its Q3 2024 revenue to be between $700M and $725M, which is below the estimated $753.815M by analysts. This forecast suggests a potential downturn in the company's financial performance compared to expectations.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:17 pm

NYCB

New York Community Bancorp (NYSE:NYCB) reported Q4 financial results below expectations, with a revenue of $740 million against an estimate of $811.07 million and an adjusted loss of 27 cents per share versus expected earnings of 28 cents per share. The company also announced a $552 million provision for loan losses and reduced its quarterly dividend to 5 cents per share. Following the report, NYCB shares dropped 37.7% to $6.47. Analysts from RBC Capital, Jefferies, and Raymond James subsequently downgraded the stock and lowered their price targets.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 12:16 pm

HII

Huntington Ingalls Industries (HII) reported Q4 earnings of $6.90 per share, surpassing the $4.28 estimate, a 124.76% increase from last year. Sales reached $3.18B, beating the $2.78B estimate, marking a 12.98% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:16 pm

XPEV

XPeng Inc. (NYSE:XPEV) shares rose in premarket trading after announcing a 58% year-over-year increase in vehicle deliveries for January 2024, totaling 8,250 vehicles. Despite this being a decrease from December 2023's record of 20,115 units, the launch of the X9 Ultra Smart Large Seven-seater MPV and the high monthly active user penetration rate of XNGP ADAS contributed to the positive market reaction. XPeng plans to expand XNGP coverage and initiate R&D on Highway NGP for overseas markets.

Portfolio Pulse from Nabaparna Bhattacharya

February 01, 2024 | 12:13 pm

DIA

GLD

QQQ

SPY

Following the Federal Reserve's decision to keep interest rates unchanged at 5.25%-5.50%, U.S. stock markets closed lower, impacting global markets. The Dow Jones, S&P 500, and Nasdaq saw declines, with communication services and technology sectors hit hardest. Asian and European markets also dipped, while commodities like gold and silver fell. U.S. futures showed slight gains in early trading.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 12:08 pm

PBI

Pitney Bowes reported Q4 adjusted EPS of $0.07, surpassing the $0.02 estimate, with sales of $871.58M also beating the $849.85M estimate. This represents a 16.67% increase in EPS and a 4.08% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:05 pm