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UPS

Economist David Rosenberg cites UPS's Q4 earnings as evidence of a looming recession, challenging the credibility of recent robust GDP data. UPS reported a 7.8% revenue decline and a 31.8% drop in adjusted EPS. CEO Carol Tomé announced a workforce reduction of 12,000 to save costs and explore strategic alternatives for Coyote. The iShares Transportation Average ETF (IYT) fell 1.57% after the Fed's rate decision.

Portfolio Pulse from Shanthi Rexaline

February 01, 2024 | 7:18 am

SHEL

Shell (NYSE:SHEL) reported Q4 adjusted earnings per share (EPS) of $2.20, surpassing the analyst consensus estimate of $1.81 by 21.55%. However, this represents a 20.86% decrease from the $2.78 EPS reported in the same period last year. Quarterly sales reached $78.73 billion, exceeding estimates of $75.66 billion by 4.06%, but showing a 22.28% decline from the $101.30 billion reported last year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:10 am

SNY

Sanofi (NASDAQ:SNY) reported Q4 adjusted earnings per share (EPS) of $0.89, missing the consensus estimate of $1.50 by 40.67%. Quarterly sales were $11.75B, also below the expected $12.26B. Despite these misses, both earnings and sales showed an increase from the same period last year, with earnings up 2.3% and sales up 9.59%.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 6:49 am

VLVCY

Volvo Cars reported an increase in Q4 earnings per share to SEK 1.04 from SEK 0.82 YoY, with sales rising to SEK 109.4B from SEK 105.9B YoY. Operating income also improved to SEK 6.7B from SEK 3.9B, and EBIT margins increased. However, the share of fully electric car sales slightly decreased to 16% from 18% in the same quarter the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 6:41 am

TSLA

A Delaware court has dismissed Tesla CEO Elon Musk's $56 billion pay package, leading to potential renegotiations under investor scrutiny. Musk may appeal the decision, and if upheld, he must return $51 billion worth of unexercised options from his 2018 contract. The ruling calls for new independent board members to oversee Musk. Despite the setback, Musk is unlikely to leave Tesla due to his significant stake in the company. Additionally, Musk has polled about incorporating Tesla in Texas, with a majority favoring the move, but it's unclear if he will act on this.

Portfolio Pulse from Anan Ashraf

February 01, 2024 | 6:25 am

DGX

Quest Diagnostics (NYSE:DGX) is anticipated to report higher Q4 earnings at $2.11 per share compared to $1.98 a year ago, with projected revenue of $2.25 billion versus $2.33 billion previously. The company has also partnered with Fitbit for metabolic health research. Despite this, shares dropped 0.3% to $128.43. Analysts from Truist Securities, B of A Securities, Citigroup, UBS, and JP Morgan have provided various ratings and price targets for DGX, with accuracy rates ranging from 68% to 76%.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 6:23 am

BTCUSD

Ark Invest's 'Big Ideas 2024' report highlights Bitcoin's stability in the US banking sector crisis, with a 40% value increase. It emphasizes the significance of the April 2024 Bitcoin halving event, which is expected to trigger a bull market by cutting Bitcoin's inflation rate in half. The report also notes the introduction of Bitcoin spot ETFs on January 11, 2024, and the push for clearer cryptocurrency regulation in the US and Europe. Ark suggests Bitcoin is a safe long-term investment, with data showing consistent gains for those holding for at least five years.

Portfolio Pulse from Mehab Qureshi

February 01, 2024 | 6:20 am

AAPL

AMZN

FB

GOOGL

MSFT

NVDA

TSLA

Tidal Financial Group and ZEGA Financial have launched the YieldMax Magnificent 7 Fund of Option Income ETFs, which invests in seven single-stock ETFs using covered-call strategies. These ETFs focus on major tech companies: Apple, Microsoft, Alphabet, Meta Platforms, Tesla, Amazon, and Nvidia. The fund aims to capitalize on the tech sector's growth, which has significantly driven the S&P 500's gains in 2023. However, YieldMax warns of high risks associated with the fund.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 6:01 am

GOEV

Canoo Inc. (NASDAQ:GOEV) has begun delivering electric vehicles to Zeeba, fulfilling part of a 5,450-unit fleet agreement from October 2022. Canoo's CEO highlighted the deal's role in commercial fleet electrification, noting Zeeba's revenue growth and client backlog. Despite a Q3 adjusted net loss of $46.1 million, Canoo's stock rose 13.3% on the news, with a slight after-hours decline.

Portfolio Pulse from Anan Ashraf

February 01, 2024 | 5:47 am

TSLA

Elon Musk announced that Tesla will hold a shareholder vote on moving its state of incorporation from Delaware to Texas, following a Twitter poll where 87.1% voted in favor of the move. This comes after a Delaware judge called Musk's $56 billion pay package 'an unfathomable sum' and revoked it. Musk has criticized Delaware's incorporation laws and suggested Nevada or Texas as better options for incorporation.

Portfolio Pulse from Anan Ashraf

February 01, 2024 | 5:29 am