Streetbeat News

Stock Prices

META

Meta Platforms Inc (NASDAQ:META) has partnered with the Center for Open Science to share 'privacy-preserving social media data' with researchers, ahead of a congressional hearing on children's online safety. The company, facing pressure to provide data for research on social media's mental health impact, expanded access through the Meta Content Library. CEO Mark Zuckerberg will testify before Congress, as Meta introduces new safety measures on Facebook and Instagram, including messaging restrictions and parental controls. META shares were up 0.47% premarket.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 11:17 am

BABA

NTES

TCEHY

Tencent Holding Ltd's CEO Pony Ma highlighted challenges in the gaming sector and the company's progress in AI at their annual meeting. Tencent, facing competition from companies like miHoYo and NetEase Inc, has seen its gaming performance decline. Ma emphasized the integration of Tencent's 'Hunyuan' AI model to improve efficiency and is exploring live-streaming e-commerce to grow WeChat. Tencent also invested in Beijing land for office space. The company's stock dropped over 27% last year and closed lower by 1.22% at $36.55 on Monday.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 11:14 am

AMD

INTC

NVDA

Ahead of AMD's Q4 earnings report, analysts have raised expectations due to the company's AI prospects, potentially challenging Nvidia. AMD's stock rose 20.6% in January, but questions remain if it can sustain this growth. KeyBanc expects higher Q4 results based on strong server demand, while Intel's recent revenue miss and weak guidance caused its shares to drop. AMD's MI300X AI accelerator chips are gaining traction, but there's potential weakness in the Client segment. Susquehanna revised AMD's price target from $170 to $210, focusing on the MI300 narrative. AMD's premarket shares were down 0.90% at $176.23.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 11:13 am

PII

Polaris anticipates continued challenges in its industry segments through 2024 but aims to gain market share with a strong product lineup and new releases later in the year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:10 am

PII

Polaris anticipates a decline in sales by 5%-7% year-over-year (YoY) for 2024, with an expected decrease in adjusted diluted earnings per share (EPS) by 10%-15% YoY.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:08 am

DEO

Diageo Plc (NYSE:DEO) shares dropped over 3% after the company reported a decline in organic net sales and missed analyst estimates. The company faces challenges in Latin America with a 23% sales decline and an expected further decrease of 10%-20% in the second half of the year. CEO Debra Crew is determined to address these issues. Past challenges include considering the sale of its beer portfolio and the end of a partnership with Sean 'Diddy' Combs.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 11:07 am

PII

Polaris (NYSE:PII) reported Q4 adjusted EPS of $1.98, missing the $2.58 estimate, a 42.77% decrease from last year's $3.46. Sales were $2.29B, surpassing the $2.23B estimate but down 4.78% from the previous year's $2.40B.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:05 am

MDC

M.D.C. Holdings (NYSE:MDC) reported Q4 earnings of $1.56 per share, surpassing the consensus estimate of $1.49, and representing a 44.44% increase from the previous year. Quarterly sales were $1.35B, exceeding estimates of $1.29B but showing an 11.18% decrease from the prior year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:03 am

BCAL

CALB

Southern California Bancorp and California BanCorp have announced an all-stock merger valued at approximately $233.6 million, or $26.54 per share of California Bancorp. Under the terms of the agreement, each share of California BanCorp common stock will be exchanged for 1.590 shares of Southern California Bancorp common stock.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:03 am

HSBC

HSBC Holdings PLC (NYSE:HSBC) has been fined £57.4 million ($73 million) by the Bank of England's Prudential Regulation Authority for failing to properly implement depositor protection rules between 2015 and 2022. The fine was reduced from £96.5 million due to HSBC's cooperation with the investigation. The bank failed to accurately identify deposits eligible for the UK's Financial Services Compensation Scheme. HSBC shares traded lower by 0.483% in premarket.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 10:55 am