Fortinet Reports Strong Q4 2023 Results, Shares Surge
Fortinet (FTNT) reports strong Q4 2023 results, with a surge in shares after exceeding market expectations for earnings, revenue, and billings. The company projects Q1 2024 EPS and revenue in line with analyst estimates, attributing the success to growth in Security Operations and SASE billings.
Chipotle’s Quarterly Earnings Exceed Analysts’ Expectations
Chipotle Mexican Grill has reported quarterly earnings and revenue that exceeded analysts’ expectations, with a significant increase in restaurant traffic. The company’s same-store sales surpassed estimates, and its foot traffic rose by 7.4% in the quarter, defying the industry-wide trend of declining visits. Chipotle’s positive outlook for 2024 reflects its strong performance and strategic expansion plans, positioning the company as a strong player in the restaurant industry.
ESPN, Fox, and Warner Bros. Discovery Announce Joint Sports Streaming Service
ESPN, Fox, and Warner Bros. Discovery are teaming up to launch a new sports streaming service, offering a skinnier bundle of linear networks tailored for sports fans. The platform will include all the broadcast and cable networks owned by the three companies that carry sports, along with ESPN+. Consumers can subscribe directly via a new app or bundle the product with Disney+, Hulu, and Max. This move comes as the value of sports media rights is on the rise and viewers have shifted away from traditional cable.
Ford Motor Company Exceeds Expectations for Fourth Quarter and Provides Positive 2024 Outlook
Ford Motor Company has exceeded Wall Street’s expectations for the fourth quarter, reporting better-than-expected financial results and providing a positive outlook for 2024. The company’s forecast includes adjusted earnings before interest and taxes (EBIT) of between $10 billion and $12 billion, adjusted free cash flow of $6 billion to $7 billion, and capital spending of $8 billion to $9.5 billion, surpassing analyst expectations. Ford also announced a special dividend of 18 cents per share and a first-quarter regular dividend of 15 cents per share, leading to a surge in shares during afterhours trading.
Landscape Capital Management L.L.C. Makes Significant Changes to Holdings in Snap Inc.
Landscape Capital Management L.L.C. significantly reduced its holdings in Snap Inc. by 92.7% in the third quarter, selling 794,780 shares and leaving them with 62,568 shares. Meiji Yasuda Asset Management Co Ltd. also increased its shares in Snap by 7.4% during the 2nd quarter, reflecting dynamic activity within the stock market.
Wendy’s Offers Free Dave’s Single Cheeseburger with Any Purchase
Wendy’s is offering a free Dave’s Single cheeseburger with any purchase at participating restaurants from February 5 to February 12. Customers can redeem the offer through the Wendy’s app with no specific purchase minimum. This promotion coincides with the Super Bowl and includes a $0 delivery fee for app orders on game day. Wendy’s is also introducing breakfast burritos and bringing back the classic vanilla Frosty, delighting patrons with exciting additions to their menu lineup.
DocuSign to Lay Off 6% of Workforce in Restructuring Plan
DocuSign announces a restructuring plan, including laying off 6% of its workforce, in an effort to enhance financial and operational efficiency. The majority of impacted employees will come from sales and marketing departments. The announcement led to a more than 6% drop in DocuSign’s shares. The company aims to meet or exceed its fourth-quarter and fiscal-2024 guidance and will share further details about the restructuring plan when fourth-quarter results are released.
Wedbush Raises Palantir’s Price Target to $30, Citing Remarkable Commercial Success and Potential for S&P 500 Inclusion
Wedbush raises Palantir’s price target to $30, citing remarkable commercial success with AIP and potential for $1B free cash flow in 2024. The surge in commercial business indicates a promising trajectory toward profitability and inclusion in the S&P 500, positioning Palantir as a compelling investment opportunity in the data analytics and software market.
ABB and MAN Energy Solutions Collaborate on Energy-Efficient Propulsion Concept for LNG Carriers
ABB and MAN Energy Solutions have developed the innovative Dual Fuel, Electric+ (DFE+) concept for LNG carriers, achieving a 7.5% increase in energy efficiency and emissions reduction. This collaboration addresses the challenges of stricter emissions regulations and fuel costs, offering a competitive and energy-efficient alternative for LNG carrier propulsion designs.
WeWork’s founder Adam Neumann seeks to buy now-bankrupt business
Adam Neumann, the co-working company’s onetime chief, has been trying to buy the now-bankrupt WeWork business with the help of hedge fund mogul Dan Loeb. His new real estate company, Flow Global, has accused WeWork’s current leaders of stonewalling their takeover approach, despite seeking to provide bankruptcy financing to keep the company afloat.