Investors Await Strong Earnings Momentum from Tech Giants
Investors are eagerly awaiting the quarterly results of three companies that are expected to show strong earnings momentum. Nvidia is one of the major players that could see a substantial post-earnings surge this week. Additionally, there are stocks that have a track record of surpassing expectations and experiencing gains after reporting their earnings. On the other hand, Wolfe Research has identified stocks that investors should consider betting against. As the market prepares for these significant earnings announcements, investors are closely monitoring the performance of these companies.
Palo Alto Networks Shares Plummet by 25% After Revenue Warning
Palo Alto Networks shares have plummeted by 25% after a revenue warning, raising concerns about the cybersecurity market. Investors and analysts are closely monitoring the situation, with ripple effects expected across the industry.
SolarEdge Technologies Faces Stock Drop After Disappointing First-Quarter Guidance
SolarEdge Technologies faces a significant drop in stock value after disappointing first-quarter guidance, with revenues well below expectations. CEO Zvi Lando remains optimistic about the future, but challenges in the European and U.S. residential solar markets raise concern within the investment community.
Nvidia experiences worst day in four months with $78 billion market cap loss
Nvidia’s stock saw a significant 4.4% decline, resulting in a $78 billion loss in market capitalization, marking the largest single-day loss in the company’s history. Despite the drop, the stock has surged by over 35% since the beginning of the year. Analysts anticipate a substantial increase in overall market expectations, potentially limiting further earnings upside in 2024. The company is expected to report adjusted earnings of $4.59 per share on a revenue of $20.4 billion for the fiscal fourth quarter, with projections for the current quarter indicating staggering numbers. However, analysts express concerns about the high bar set for the company, while investors eagerly await the company’s financial outlook and performance.
Transocean Set to Release Q4 Earnings Results
Transocean (NYSE:RIG) is set to release its Q4 earnings results, with market analysts closely watching its performance. Investors are expressing diverse sentiments, and online investment groups are buzzing with discussions about the stock. As the offshore drilling sector continues to navigate challenges and opportunities, Transocean’s earnings report will provide valuable insights into the industry’s health.
Marriott International Reports Strong Fourth Quarter and Full Year 2023 Results
Marriott International, Inc. (Nasdaq: MAR) reports strong fourth quarter and full year 2023 results, with significant growth in global operations. RevPAR increased by 7.2% worldwide, with a 17.4% surge in international markets. Diluted EPS improved to $2.87, and adjusted diluted EPS reached $3.57. Net income totaled $848 million, and adjusted net income reached $1,055 million. The company added nearly 81,300 rooms globally and has a development pipeline of nearly 3,400 properties and roughly 573,000 rooms. Marriott also repurchased 21.5 million shares of common stock for $3.9 billion in 2023. President and CEO Anthony Capuano commented on the company’s excellent results and strong performance, positioning Marriott for continued growth and success in the global hospitality industry.
DoorDash Reports 23% Increase in Total Orders and 22% Increase in Gross Order Value
DoorDash reports a 23% increase in total orders and a 22% increase in gross order value in the fourth quarter of 2023. Despite positive returns, DoorDash stock dropped in after-hours trading by more than 11%. The company remains focused on building tools to solve problems for consumers, merchants, and employees in 2024.
DraftKings Announces Strong Q4 Results and Raises 2024 Guidance
DraftKings Inc (NASDAQ:DKNG) has announced its financial results for the fiscal fourth quarter, with an increase in guidance for the 2024 year. Despite surpassing earnings per share (EPS) estimates, shares fell in after-hours trading. The company has raised its revenue forecast for fiscal year 2024, projecting a year-over-year growth of 27% to 34%. Additionally, DraftKings plans to acquire Jackpocket in a $750 million deal, signaling strategic expansion. CEO Jason Robins expressed satisfaction with the company’s performance and highlighted positive outcomes in customer acquisition, retention, and engagement. This development has sparked interest in the investment community, positioning DraftKings for substantial market strides.
Albemarle Posts Better-Than-Expected Quarterly Profit Despite Weak Lithium Prices
Albemarle, the world’s largest lithium producer, has reported a better-than-expected adjusted quarterly profit despite weak lithium prices. The company’s aggressive cost-cutting measures have helped offset the plunging prices for the metal used in electric vehicle batteries. Despite the challenges posed by weak lithium prices, Albemarle has indicated its commitment to continue funding its Arkansas direct lithium extraction project.
Cisco Systems Inc. Reports 6% Annual Revenue Fall in Q2 2024
Cisco Systems Inc. reported a 6% annual fall in revenue for the second quarter of fiscal year 2024, reaching $12.8 billion, slightly above expectations. CEO Chuck Robbins commented on the solid performance and future growth opportunities, but Cisco’s shares dropped by 5% in after-hours trading.