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Earnings updated 3-7-24
PATH 3-13 A
BLNK 3-14 A
PD 3-14 A
NKE 3-21 A
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DocuSign (DOCU) reported earnings of $0.76 per share on for the fiscal fourth quarter ended January 2024. The consensus earnings estimate was $0.64 per share on revenue of $698.05 million. The Earnings Whisper number was $0.70 per share. The company beat expectations by 8.57%.
ChargePoint (CHPT) reported a loss of $0.23 per share on revenue of $115.83 million for the fiscal fourth quarter ended January 2024. The consensus estimate was a loss of $0.13 per share on revenue of $126.48 million. The Earnings Whisper number was a loss of $0.11 per share. The company missed expectations by 109.09% while revenue fell 24.21% compared to the same quarter a year ago.The company said it expects first quarter revenue of $100.0 million to $110.0 million. The current consensus revenue estimate is $128.13 million for the quarter ending April 30, 2024.
Plug Power Inc (NASDAQ:PLUG) reported fiscal 2023 net revenue growth of 27.1% year-over-year to $891.234 million, missing the consensus of $900.29 million. Net loss per share was $(2.30), below the consensus of $(1.61).PLUG stated that the incremental loss was primarily driven by increased investments in growth and expansion and the varied non-cash charges recorded in the quarter.
Operating loss for the fiscal expanded to $(1.343) billion from $(679.55) million in 2022.Plug Power wrote down certain assets, which resulted in non-cash charges recorded in the fourth quarter of ~$325 million.Net cash used in operating activities for the fiscal totaled $(1.106) billion, compared to $(828.62) million a year ago.PLUG held cash and cash equivalents of $1.169 billion as of December 31, 2023.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
Rivian Automotive (RIVN) reported a loss of $1.23 per share on revenue of $1.32 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $1.32 per share on revenue of $1.26 billion. The Earnings Whisper number was a loss of $1.28 per share. The company beat expectations by 3.91% while revenue grew 98.34% on a year-over-year basis.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
C3.ai, Inc. (AI) reported a loss of $0.13 per share on revenue of $78.40 million for the fiscal third quarter ended January 2024. The consensus estimate was a loss of $0.28 per share on revenue of $75.92 million. The Earnings Whisper number was a loss of $0.21 per share. The company beat expectations by 38.10% while revenue grew 17.60% on a year-over-year basis.The company said it expects fourth quarter revenue of $82.0 million to $86.0 million. The current consensus revenue estimate is $84.08 million for the quarter ending April 30, 2024.
Leonardo DRS (DRS) reported earnings of $0.31 per share on revenue of $926.00 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.30 per share on revenue of $882.17 million. The Earnings Whisper number was $0.32 per share. The company missed expectations by 3.13% while revenue grew 12.93% on a year-over-year basis.The company said it expects 2024 earnings of $0.74 to $0.82 per share on revenue of $2.925 billion to $3.025 billion. The current consensus earnings estimate is $0.84 per share on revenue of $2.97 billion for the year ending December 31, 2024.
iRobot (IRBT) reported a loss of $2.18 per share on revenue of $307.54 million for the . The consensus revenue estimate was revenue of $307.99 million. Revenue fell 14.06% compared to the same quarter a year ago.The company said it expects a 2024 non-GAAP loss of $3.73 to $3.30 per share on revenue of $825.0 million to $865.0 million. The current consensus estimate is a loss of $2.49 per share on revenue of $865.02 million for the year ending December 31, 2024.
Zoom Video Communications (ZM) reported earnings of $1.42 per share on revenue of $1.15 billion for the . The consensus earnings estimate was $1.15 per share on revenue of $1.13 billion. The Earnings Whisper number was $1.21 per share. The company beat expectations by 17.36% while revenue grew 2.56% on a year-over-year basis. The company said it expects first quarter non-GAAP earnings of $1.18 to $1.20 per share on revenue of approximately $1.125 billion. The current consensus earnings estimate is $1.13 per share on revenue of $1.13 billion for the quarter ending April 30, 2024. The company said it expects fiscal 2025 non-GAAP earnings of $4.85 to $4.88 per share on revenue of approximately $4.60 billion. The current consensus earnings estimate is $4.71 per share on revenue of $4.65 billion for the year ending January 31, 2025.
Block (SQ) reported earnings of $0.45 per share on revenue of $5.77 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.62 per share on revenue of $5.70 billion. The Earnings Whisper number was $0.68 per share. The company missed expectations by 33.82% while revenue grew 24.13% on a year-over-year basis.
Rocket Companies (RKT) reported a loss of $0.06 per share on revenue of $693.81 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.07 per share on revenue of $769.00 million. The company beat consensus estimates by 14.29% while revenue grew 44.30% on a year-over-year basis.The company said it expects first quarter revenue of $925.0 million to $1.075 billion. The current consensus revenue estimate is $929.87 million for the quarter ending March 31, 2024.
(Digital Ocean)DOCN Revenue for the quarter ended Dec. 31 was $180.9 million, up from $163 million a year earlier.
Analysts surveyed by Capital IQ estimated $178.4 million.For Q1, the company said it expects non-GAAP net income of $0.37 to $0.39 per diluted share on revenue of $182 million to $183 million. Analysts polled by Capital IQ expect earnings of $0.38 on revenue of $182.5 million. For 2024, the company said it expects non-GAAP net income of $1.60 to $1.67 per diluted share on revenue of $755 million to $775 million. Analysts surveyed by Capital IQ expect earnings of $1.64 on revenue of $766.6 million.
NVIDIA (NVDA) reported earnings of $5.16 per share on revenue of $22.10 billion for the fiscal fourth quarter ended January 2024. The consensus earnings estimate was $4.56 per share on revenue of $20.24 billion. The Earnings Whisper number was $4.67 per share. The company beat expectations by 10.49% while revenue grew 265.28% on a year-over-year basis.The company said it expects first-quarter non-GAAP earnings of $5.18 to $5.64 per share on revenue of $23.52 billion to $24.48 billion. The current consensus earnings estimate is $5.00 per share on revenue of $22.17 billion for the quarter ending April 30, 2024.
RingCentral (RNG) reported earnings of $0.86 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.82 per share on revenue of $569.65 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 3.61%.The company said it expects first quarter non-GAAP earnings of $0.79 to $0.80 per share on revenue of $575.0 million to $580.0 million. The current consensus earnings estimate is $0.79 per share on revenue of $580.35 million for the quarter ending March 31, 2024. The company said it expects 2024 non-GAAP earnings of $3.50 to $3.58 per share on revenue of $2.37 billion to $2.395 billion. The current consensus earnings estimate is $3.48 per share on revenue of $2.40 billion for the year ending December 31, 2024.
Transocean (RIG) reported a loss of $0.09 per share on revenue of $741.00 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.22 per share on revenue of $760.58 million. The Earnings Whisper number was a loss of $0.23 per share. The company beat expectations by 60.87% while revenue grew 22.28% on a year-over-year basis.
Trade Desk (TTD) reported earnings of $0.41 per share on revenue of $605.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.44 per share on revenue of $581.94 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 12.77% while revenue grew 23.45% on a year-over-year basis.The company said it expects first quarter revenue of at least $478.0 million. The current consensus revenue estimate is $451.63 million for the quarter ending March 31, 2024.
Roku (ROKU) reported a loss of $0.55 per share on revenue of $984.43 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.65 per share on revenue of $959.66 million. The Earnings Whisper number was a loss of $0.49 per share. The company missed expectations by 12.24% while revenue grew 13.54% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of approximately $850.0 million. The current consensus revenue estimate is $823.96 million for the quarter ending March 31, 2024.
Toast (TOST) reported a loss of $0.07 per share on revenue of $1.04 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.11 per share on revenue of $1.01 billion. The Earnings Whisper number was a loss of $0.08 per share. The company beat expectations by 12.50% while revenue grew 34.72% on a year-over-year basis.
Twilio (TWLO) reported earnings of $0.86 per share on revenue of $1.08 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.58 per share on revenue of $1.04 billion. The Earnings Whisper number was $0.66 per share. The company beat expectations by 30.30% while revenue grew 5.01% on a year-over-year basis.The company said it expects first quarter non-GAAP earnings of $0.56 to $0.60 per share on revenue of $1.025 billion to $1.035 billion. The current consensus earnings estimate is $0.54 per share on revenue of $1.05 billion for the quarter ending March 31, 2024.
Shopify (SHOP) reported earnings of $0.34 per share on revenue of $2.14 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.31 per share on revenue of $2.08 billion. The Earnings Whisper number was $0.38 per share. The company missed expectations by 10.53% while revenue grew 23.58% on a year-over-year basis.
Upstart (UPST) reported a loss of $0.11 per share on revenue of $140.31 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.14 per share on revenue of $135.28 million. The Earnings Whisper number was a loss of $0.12 per share. The company beat expectations by 8.33% while revenue fell 4.49% compared to the same quarter a year ago.The company said it expects first quarter revenue of approximately $125.0 million. The current consensus revenue estimate is $141.18 million for the quarter ending March 31, 2024.
Airbnb (ABNB) reported earnings of $0.76 per share on revenue of $2.22 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.67 per share on revenue of $2.16 billion. The Earnings Whisper number was $0.72 per share. The company beat expectations by 5.56% while revenue grew 16.61% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of $2.03 billion to $2.075 billion. The current consensus revenue estimate is $2.03 billion for the quarter ending March 31, 2024.
Kratos Defense & Security Solutions (KTOS) reported earnings of $0.12 per share on revenue of $273.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.10 per share on revenue of $254.40 million. The Earnings Whisper number was $0.11 per share. The company beat expectations by 9.09% while revenue grew 9.83% on a year-over-year basis.The company said it expects first quarter revenue of $240.0 million to $260.0 million and 2024 revenue of $1.125 billion to $1.150 billion. The current consensus revenue estimate is $253.31 million for the quarter ending March 31, 2024 and revenue of $1.11 billion for the year ending December 31, 2024.
Pinterest (PINS) reported earnings of $0.53 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.51 per share on revenue of $988.18 million. The Earnings Whisper number was $0.56 per share. The company missed expectations by 5.36%.The company said it expects first quarter revenue of $690.0 million to $705.0 million. The current consensus revenue estimate is $699.58 million for the quarter ending March 31, 2024.
Roblox (RBLX) reported a loss of $0.52 per share on revenue of $749.94 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.57 per share on revenue of $1.07 billion. The Earnings Whisper number was a loss of $0.54 per share. The company beat expectations by 3.70% while revenue grew 29.52% on a year-over-year basis.The company said it expects first quarter bookings of $910.0 million to $940.0 million and 2024 bookings of $4.14 billion to $4.28 billion. The current consensus revenue estimate is $907.23 million for the quarter ending March 31, 2024 and $4.03 billion for the year ending December 31, 2024.
Walt Disney (DIS) reported earnings of $1.22 per share on revenue of $23.55 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.97 per share on revenue of $23.47 billion. The Earnings Whisper number was $1.07 per share. The company beat expectations by 14.02% while revenue grew 0.16% on a year-over-year basis.
PayPal (PYPL) reported earnings of $1.48 per share on revenue of $8.03 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.36 per share on revenue of $7.87 billion. The Earnings Whisper number was $1.40 per share. The company beat expectations by 5.71% while revenue grew 8.71% on a year-over-year basis. The company said it expects first quarter earnings of approximately $1.23 per share and 2024 earnings of approximately $5.10 per share. The current consensus estimate is earnings of $1.27 per share for the quarter ending March 31, 2024 and earnings of $5.49 per share for the year ending December 31, 2024.
BP Reports Q4 (Dec) earnings of $1.07 per share, $0.11 better than the FactSet Consensus of $0.96; revenues fell 24.7% year/year to $52.14 bln vs the $53.14 bln FactSet Consensus.Operating cash flow in the quarter of $9.4 billion includes a working capital* release (after adjusting for inventory holding losses, fair value accounting effects and other adjusting items) of $2.1 billion (see page 28).Capital expenditure in the fourth quarter was $4.7 billion and total 2023 capital expenditure, including inorganic capital expenditure* was $16.3 billion.Growing shareholder distributions: Dividend per ordinary share 7.270 cents per share +10% versus 4Q22; 4Q23 $1.75bn share buyback announced; committed to announcing $3.5bn share buyback for the first half of 2024
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $608.35 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.08 per share on revenue of $602.55 million. The Earnings Whisper number was $0.08 per share. The company reported in-line with expectations while revenue grew 19.61% on a year-over-year basis.The company said it expects first quarter revenue of $612.0 million to $616.0 million and 2024 revenue of $2.652 billion to $2.668 billion. The current consensus revenue estimate is $615.50 million for the quarter ending March 31, 2024 and revenue of $2.66 billion for the year ending December 31, 2024.
Amazon.com (AMZN) reported earnings of $1.00 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.81 per share on revenue of $166.04 billion. The Earnings Whisper number was $0.88 per share. The company beat expectations by 13.64%.The company said it expects first quarter revenue of $138.0 billion to $143.5 billion. The current consensus revenue estimate is $142.21 billion for the quarter ending March 31, 2024.
Meta Platforms (META) reported earnings of $5.33 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $4.82 per share on revenue of $38.82 billion. The Earnings Whisper number was $5.00 per share. The company beat expectations by 6.60%.The company said it expects first quarter revenue of $34.50 billion to $37.00 billion. The current consensus revenue estimate is $33.72 billion for the quarter ending March 31, 2024.
QUALCOMM (QCOM) reported earnings of $2.75 per share on revenue of $9.94 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $2.37 per share on revenue of $9.51 billion. The Earnings Whisper number was $2.45 per share. The company beat expectations by 12.24% while revenue grew 4.99% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of $2.20 to $2.40 per share on revenue of $8.90 billion to $9.70 billion. The current consensus earnings estimate is $2.25 per share on revenue of $9.29 billion for the quarter ending March 31, 2024.
Teradyne (TER) beats by $0.07, reports revs in-line; guides Q1 EPS below consensus, revs below consensus Reports Q4 (Dec) earnings of $0.79 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.72; revenues fell 8.4% year/year to $670.6 mln vs the $674.99 mln FactSet Consensus. Co issues downside guidance for Q1, sees EPS of $0.22-0.38, excluding non-recurring items, vs. $0.54 FactSet Consensus; sees Q1 revs of $540-590 mln vs. $625.49 mln FactSet Consensus."Looking into the new year, we expect low tester utilization will impact demand in the first half of the year but anticipate the full year Semiconductor test demand to incrementally improve from 2023. In Robotics, after expected seasonal weakness in Q1, we project consistent quarterly growth powered by new products, new applications and improvements in our global distribution channels."
Alphabet (GOOGL) reported earnings of $1.64 per share on revenue of $86.31 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.60 per share on revenue of $85.26 billion. The Earnings Whisper number was $1.68 per share. The company missed expectations by 2.38% while revenue grew 13.49% on a year-over-year basis.
Starbucks (SBUX) reported earnings of $0.90 per share on revenue of $9.43 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.92 per share on revenue of $9.65 billion. The Earnings Whisper number was $0.95 per share. The company missed expectations by 5.26% while revenue grew 8.16% on a year-over-year basis.
Alaska Air Group (ALK) reported earnings of $0.30 per share on revenue of $2.55 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.18 per share on revenue of $2.55 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 100.00% while revenue grew 2.99% on a year-over-year basis.
Tesla (TSLA) reported earnings of $0.71 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.74 per share on revenue of $23.17 billion. The Earnings Whisper number was $0.77 per share. The company missed expectations by 7.79%
AT&T (T) reported earnings of $0.54 per share on revenue of $32.02 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.55 per share on revenue of $28.68 billion. The Earnings Whisper number was $0.57 per share. The company missed expectations by 5.26% while revenue grew 2.17% on a year-over-year basis.The company said it expects 2024 earnings of $2.15 to $2.25 per share, including items of $0.32 per share. The current consensus earnings estimate is $2.46 per share for the year ending December 31, 2024.
Netflix (NFLX) reported earnings of $2.11 per share on revenue of $8.83 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.20 per share on revenue of $8.71 billion. The Earnings Whisper number was $2.28 per share. The company missed expectations by 7.46% while revenue grew 12.49% on a year-over-year basis.The company said it expects first quarter earnings of approximately $4.49 per share on revenue of approximately $9.24 billion. The current consensus earnings estimate is $4.00 per share on revenue of $9.26 billion for the quarter ending March 31, 2024.
3M (MMM) reported earnings of $2.42 per share on revenue of $8.01 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.31 per share on revenue of $7.02 billion. The Earnings Whisper number was $2.35 per share. The company beat expectations by 2.98% while revenue fell 0.82% compared to the same quarter a year ago.The company said it expects 2024 earnings of $9.35 to $9.75 per share. The current consensus earnings estimate is $9.90 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.29 per share on revenue of $19.93 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.25 per share on revenue of $19.83 billion. The Earnings Whisper number was $1.30 per share. The company missed expectations by 0.77% while revenue grew 10.14% on a year-over-year basis.The company said it expects 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.00 billion. The current consensus earnings estimate is $5.40 per share on revenue of $79.32 billion for the year ending December 31, 2024.
DOCU earnings:
SAN FRANCISCO, March 7, 2024 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature product as part of its industry leading lineup, today announced results for its fourth quarter and fiscal year ended January 31, 2024.
"DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year," said Allan Thygesen, CEO of DocuSign. "The agreement management opportunity is massive, and we're excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond."
Fourth Quarter Financial Highlights
Total revenue was $712.4 million, an increase of 8% year-over-year. Subscription revenue was $695.7 million, an increase of 8% year-over-year. Professional services and other revenue was $16.7 million, an increase of 5% year-over-year.
Billings were $833.1 million, an increase of 13% year-over-year.
GAAP gross margin was 79% for both periods. Non-GAAP gross margin was 82% compared to 83% in the same period last year.
GAAP net income per basic share was $0.13 on 206 million shares outstanding compared to $0.02 on 202 million shares outstanding in the same period last year.
GAAP net income per diluted share was $0.13 on 210 million shares outstanding compared to $0.02 on 206 million shares outstanding in the same period last year.
Non-GAAP net income per diluted share was $0.76 on 210 million shares outstanding compared to $0.65 on 206 million shares outstanding in the same period last year.
Net cash provided by operating activities was $270.7 million compared to $137.1 million in the same period last year.
Free cash flow was $248.6 million compared to $113.0 million in the same period last year.
Cash, cash equivalents, restricted cash and investments were $1.2 billion at the end of the quarter. During the quarter, the company repaid $689.9 million principal amount of our 2024 convertible senior notes.
Fiscal 2024 Financial Highlights
Total revenue was $2.8 billion, an increase of 10% over the prior year. Subscription revenue was $2.7 billion, an increase of 10% over the prior year. Professional services and other revenue was $75.2 million, an increase of 2% year-over-year.
Billings were $2.9 billion, an increase of 9% over the prior year.
GAAP gross margin was 79% for both years. Non-GAAP gross margin was 83% compared to 82% in the prior year.
GAAP net income per basic share was $0.36 on 204 million shares outstanding compared to a loss of $0.49 on 201 million shares outstanding in fiscal 2023.
GAAP net income per diluted share was $0.36 on 209 million shares outstanding compared to a loss of $0.49 on 201 million shares outstanding in fiscal 2023.
Non-GAAP net income per diluted share was $2.98 on 209 million shares outstanding compared to $2.03 on 206 million shares outstanding in fiscal 2023.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures and Other Key Metrics."
PYPL cpps 58.78
Tap to Pay on iPhone Now Available for Venmo and PayPal Zettle Businesses in the U.S.
https://www.prnewswire.com/news-releases/tap-to-pay-on-iphone-now-available-for-venmo-and-paypal-zettle-businesses-in-the-us-302082615.html
PayPal Holdings, Inc.
07 Mar, 2024, 10:00 ET
Tap to Pay on iPhone is now live for all Venmo business profile and PayPal Zettle users in the U.S.
SAN JOSE, Calif., March 7, 2024 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that Tap to Pay on iPhone is now available for all Venmo business profile and PayPal Zettle users in the U.S., enabling them to accept contactless card and digital wallet payments directly on their iPhones with no additional cost or hardware. This is the latest development in PayPal's ongoing efforts to help small businesses sell more, grow their business, and manage their finances more efficiently.
Consumers are increasingly going cashless. More than 40 percent of Americans surveyed say that none of their purchases are made with cash in a typical week, and that trend is expected to continue. As a result, accepting card and digital wallet payments in person is increasingly table stakes for small businesses, but until recently, businesses have had to purchase and manage card readers to do so. With Tap to Pay on iPhone, PayPal is helping millions of small businesses adapt to this shift in consumer behavior in a fast, easy, and more affordable way.
"As consumers increasingly turn to non-cash options to pay, small businesses are looking for affordable and flexible ways to offer their customers more payment choice without being tied down to a fixed location," said Nitin Prabhu, VP, Small Business & Financial Services, PayPal. "With Tap to Pay on iPhone, millions of small businesses that use Venmo and PayPal Zettle can now start accepting contactless card and digital wallet payments nearly anywhere, directly on their iPhones, which can expand their customer base and drive incremental sales."
With Tap to Pay on iPhone, Venmo business profile and PayPal Zettle users in the U.S. can get set up in minutes and begin securely accepting contactless cards and digital wallets directly on their iPhones. They can also add taxes, accept tips, send receipts, and issue refunds. In addition, funds from sales will settle quickly into a business's Venmo or PayPal Zettle account, helping to streamline operations and manage cash flow.
Tap to Pay on iPhone will also enable Venmo business profile users to dramatically expand their customer base and accept payments from buyers even if the buyer doesn't have a Venmo account. They can also manage both their Venmo and card payment transactions directly within the Venmo app.
Venmo business profile and PayPal Zettle users like Saint Paul Spice Company and The Cheesecake Queen are already seeing success with Tap to Pay on iPhone.
"Enabling Tap to Pay on iPhone with our Venmo business profile was really easy, and my customers really love it because it's a quick and convenient way for them to pay," said Elaine Bailey, founder of The Cheesecake Queen based in Houston, Texas. "It's especially handy when I have a long line of customers and need to get payments processed quickly. The solution has made it so fast and simple to accept payments when I'm selling at popups and festivals, especially because a lot of my customers don't want to carry cash, and prefer to pay with a digital wallet like Venmo or with cards. My customers are actually amazed at the Tap to Pay on iPhone option provided through Venmo, it's by far the smoothest, easiest transaction method I've ever used!"
Small business owners can get set up in just a few simple steps and start accepting contactless cards and digital wallets through their Venmo business profile or through PayPal Zettle.*
Rivian Introduces R2, R3, and R3X Built on New Midsize Platform
Business Wire
Thu, Mar 7, 2024, 11:40 AM MST9 min read
Rivian introduces its midsize platform family: R2, R3 and R3X. (Photo: Business Wire)
R2 Starting Around $45,000, Available to Reserve Today
LAGUNA BEACH, Calif., March 07, 2024--(BUSINESS WIRE)--Rivian today unveiled its new midsize platform which underpins R2 and R3 product lines.
R2 is Rivian’s all-new midsize SUV delivering a combination of performance, capability and utility in a five-seat package optimized for big adventures and everyday use. The silhouette and face of R2 are distinctly Rivian. The powered rear glass fully drops into the liftgate for carrying all types of gear and enabling a unique open air driving experience. The interior is designed for ease-of-use, while being uniquely Rivian through a combination of inviting design and premium, sustainable materials that are easy to clean. R2 also features first and second row seating that fold completely flat, for gear, cargo, and even car camping.
R3 is a midsize crossover that is tidy on dimensions but delivers big in terms of performance, off-road capability, passenger comfort, and storage. R3X is a performance variant of R3 offering even more dynamic abilities both on and off road. The design of the exterior and interior of R3 are inviting and iconic. R3 demonstrates the scalability of Rivian’s brand across different form factors while continuing to be immediately recognizable.
R2 and R3 will feature two battery sizes. The larger pack will achieve over 300 miles of range on a single charge and offer 0-60 mph acceleration in under 3 seconds for the quickest powertrain configuration.
Pricing for R2 is expected to start around $45,000, and R3 will be priced below R2, making Rivian vehicles more accessible to more people. Rivian's development teams have been intensely focused on cost through manufacturing, design innovation, and robust supply chain development. R2 is available to reserve today in the U.S. for $100 with deliveries expected to begin in the first half of 2026. R3 and R3X deliveries will start after R2, to ensure a smooth launch and rapid ramp of R2 – this is a learning from Rivian’s simultaneous launch of R1T, R1S and EDV. R2, R3, R3X will be available internationally following their North American launch.
"I have never been more excited to launch new products – R2 and R3 are distinctly Rivian in terms of performance, capability, and usability, yet with pricing that makes them accessible to a lot of people," said Rivian Founder and CEO RJ Scaringe. "Our design and engineering teams are extremely focused on driving innovation into not only the product features but also our approach to manufacturing to achieve dramatically lower costs. R2 provides buyers starting in the $45,000 price range with a much-needed choice with a thoroughly developed technology platform that is bursting with personality. I can’t wait to get these to customers."
All-New Platform
Developed to deliver amazing performance, range, and cost efficiency, R2 and R3 were built on an all-new midsize vehicle platform. This platform consolidates and eliminates parts thanks to intelligent design, including the use of high pressure die castings, a structural battery unit where the top of the pack also serves as the floor, and closure systems that dramatically reduce complexity. R2 and R3 also utilize Rivian’s drive unit platform and internally developed network architecture, computer topology and software stack.
R2 and R3 Highlights
Three Motor Variants: Leveraging Rivian’s in-house drive unit platform and technology, there will be Single-Motor (RWD), Dual-Motor (AWD), and Tri-Motor (two motors in rear and one in front) configurations, with the quickest configuration delivering 0-60 mph in under 3 seconds.
Structural Battery: Utilizes an all-new 4695 cell that offers significant improvements in energy density and output, estimated to deliver over 300 miles of range on a single charge for both R2 and R3.
Fast Charging: DC fast charging is compatible with both NACS (native) and CCS (with adapter), charging from 10% to 80% in less than 30 minutes.
Self Driving: Utilizing Rivian’s new perception stack featuring 11 cameras, five radars and a more powerful compute platform, R2 and R3 will provide dramatically enhanced autonomous capabilities.
Ever improving and expanding features: As with all Rivian vehicles, Rivian has developed its network architecture, topology of computers and associated full software platform to facilitate frequent software updates – the headroom for feature growth over time is extremely exciting.
Intentional Design
R2 and R3 demonstrate how Rivian’s design language adapts to different vehicle sizes and form factors.
"Our R1 flagship vehicles served as our handshake with the world – with R2 and R3 our obsessive goal is to stay true to Rivian’s product attributes while making our products accessible to a lot more people," said Rivian Chief Design Officer Jeff Hammoud. "Through a tight integration of hardware, software and human-centered design, we designed R2 by balancing form with function, while building on our inviting and iconic design language."
R2’s design prioritizes:
Adventure: R2's four passenger windows and rear powered glass drop fully, and the powered rear quarter windows vent to invite the outside in, creating a unique open-air driving experience. With R3, its hatch-style design maximizes space while keeping a sporty, athletic silhouette.
Space: With an extreme focus on rear passenger legroom, even long trips in R2 and R3 are comfortable. With the seats folding completely flat, ample sized front and rear trunks, and additional interior storage, there is space for everyone and all their gear.
Refined Touches: Rivian’s new steering wheel with integrated haptic control dials makes it easier to stay focused on the road ahead. Materials balance durability and sustainability with easy-to-clean textiles and finishes.
R2's package makes the best of Rivian available at a significantly lower price point. Customers in the U.S. can place reservations for R2 starting today at www.Rivian.com/R2, with a refundable deposit of $100.
R2 Production to be Launched in Normal, Illinois
To enable R2 to be launched earlier and with a considerable reduction in the capital required for its launch, Rivian plans to start production of R2 in its existing Normal, Illinois manufacturing facility. Beyond significantly reducing the amount of capital needed to bring R2 to market, the company believes this approach considerably reduces risk to the launch and associated ramp; efficiently leverages its existing manufacturing and operations teams; and expands the total capacity for the site to 215,000 units per year. Rivian’s Georgia plant remains an extremely important part of its strategy to scale production of R2 and R3. The timing for resuming construction is expected to be later to focus its teams on the capital-efficient launch of R2 in Normal, Illinois.
To summarize:
Improved capital efficiency: Total savings estimated to be over $2.25 billion as compared to the original forecast of launching the first line of R2 production at Rivian’s Georgia site. The savings are expected to come from capital expenditures, product development investment, and supplier sourcing opportunities.
Improved cash visibility: Cash, cash equivalents, and short-term investments expected to be sufficient to fund operations through the start of R2 production.
R2 planned start of production: The timing has been pulled forward to now be in first half of 2026.
Total expected Normal capacity following R2 launch and plant changes: 215,000 units of total annual capacity across R1T, R1S, EDV, RCV, and R2.
About Rivian:
Rivian (NASDAQ: RIVN) is an American automotive manufacturer that develops and builds category-defining electric vehicles and accessories. The company creates innovative and technologically advanced products that are designed to excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are built in the United States and are sold directly to consumer and commercial customers. The company provides a full suite of services that address the entire lifecycle of the vehicle and stay true to its mission to keep the world adventurous forever. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come. Learn more about the company, products, and careers at http://www.rivian.com.
Buying a Rivian is about to get cheaper...
RIVN Upgraded $16 tgt
Shares of Rivian (RIVN) are trading higher as Jefferies initiates coverage on the stock with a Buy rating and a $16 price target. The firm believes that Rivian is a leader in sustainability but is cautious about potential challenges for the company, such as unit production issues.
RNG +2.54 +7.88% but on below ave volume
Trend Analysis
RNG appears to be consolidating within a longer term uptrend. Shares are presently above the 200-day moving average, which is rising along with the 10-day moving average. However, the Average Directional Index, or ADX, is below 20, indicating that shares have exhibited sideways movement recently. Comparative Relative Strength analysis shows that this issue is lagging the S&P 500.
Momentum
Momentum for RNG is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares.
Volume
Today's volume is in-line with the norm for this point in the day, with 621,689 shares having traded so far. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers are presently more active than sellers.
Volatility
Volatility, measured using the width of the Bollinger Bands®, is low. Periods of low volatility tend to precede price breakouts, although they do not provide information as to which direction the breakout will take. Trend and momentum indicators can be helpful to measure future trends.
February
Jennifer Saibil, The Motley Fool
Thu, Mar 7, 2024, 7:51 AM MST3 min read
https://finance.yahoo.com/news/why-upstart-stock-plunged-19-145110753.html
Shares of Upstart Holdings (NASDAQ: UPST) stock fell 19% in February according to data provided by S&P Global Market Intelligence. The credit evaluation platform reported earnings and guidance that disappointed investors.
It's tough to be in this business right now
Upstart operates a credit evaluation platform driven by artificial intelligence. It boasts that it can identify more borrowers for lenders without increasing risk, and creditors were taken with this idea before interest rates went through the roof. However, the platform may not work as well under current circumstances, and Upstart's business has been feeling the pain.
It's been in a downward spiral for more than a year, and it didn't get any relief in the 2023 fourth quarter. Revenue declined 4% year over year, its sixth straight quarter of declines. Transaction volume was down 19%. Net loss was $42.4 million, an improvement from $55.3 million last year.
Full-year revenue was down 39% from last year, with a $240 million loss, more than double last year's $109 million.
On the bright side (yes, there was one), management is guiding for 2024 first-quarter revenue of $125 million, or a 21% increase from last year. However, it's still expecting a $75 million loss.
Upstart continues to ink deals with credit partners, and it's launching its home equity product in more states. It's already available in 12. Mortgages are its largest market opportunity, worth $1.5 trillion, and the company is positioning itself to succeed when the climate is less hostile to its business.
Is Upstart stock worth the risk?
Upstart stock has been extremely volatile since going public. It gained more than 250% last year before crashing, and it's still up 40% over the past year despite its poor performance. At the current price, shares trade for more than 4 times trailing-12-month sales, which isn't very cheap considering the performance and the risk.
Upstart's long-term premise still looks compelling. Looking out 10 years from now, it might be in an amazing position, having demonstrated its value and relevance over a sustained period of time. But there's no reason to rush in right now. Even if the Federal Reserve cuts interest rates this month as expected, it will take time to filter down to Upstart and even longer for Upstart to reflect any progress. I would recommend that investors wait to see real improvement before taking a new position.
Earnings updated 3-6-24
DOCU 3-7 A
PATH 3-13 A
BLNK 3-14 A
PD 3-14 A
NKE 3-21 A
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ChargePoint (CHPT) reported a loss of $0.23 per share on revenue of $115.83 million for the fiscal fourth quarter ended January 2024. The consensus estimate was a loss of $0.13 per share on revenue of $126.48 million. The Earnings Whisper number was a loss of $0.11 per share. The company missed expectations by 109.09% while revenue fell 24.21% compared to the same quarter a year ago.The company said it expects first quarter revenue of $100.0 million to $110.0 million. The current consensus revenue estimate is $128.13 million for the quarter ending April 30, 2024.
Plug Power Inc (NASDAQ:PLUG) reported fiscal 2023 net revenue growth of 27.1% year-over-year to $891.234 million, missing the consensus of $900.29 million. Net loss per share was $(2.30), below the consensus of $(1.61).PLUG stated that the incremental loss was primarily driven by increased investments in growth and expansion and the varied non-cash charges recorded in the quarter.
Operating loss for the fiscal expanded to $(1.343) billion from $(679.55) million in 2022.Plug Power wrote down certain assets, which resulted in non-cash charges recorded in the fourth quarter of ~$325 million.Net cash used in operating activities for the fiscal totaled $(1.106) billion, compared to $(828.62) million a year ago.PLUG held cash and cash equivalents of $1.169 billion as of December 31, 2023.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
Rivian Automotive (RIVN) reported a loss of $1.23 per share on revenue of $1.32 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $1.32 per share on revenue of $1.26 billion. The Earnings Whisper number was a loss of $1.28 per share. The company beat expectations by 3.91% while revenue grew 98.34% on a year-over-year basis.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
C3.ai, Inc. (AI) reported a loss of $0.13 per share on revenue of $78.40 million for the fiscal third quarter ended January 2024. The consensus estimate was a loss of $0.28 per share on revenue of $75.92 million. The Earnings Whisper number was a loss of $0.21 per share. The company beat expectations by 38.10% while revenue grew 17.60% on a year-over-year basis.The company said it expects fourth quarter revenue of $82.0 million to $86.0 million. The current consensus revenue estimate is $84.08 million for the quarter ending April 30, 2024.
Leonardo DRS (DRS) reported earnings of $0.31 per share on revenue of $926.00 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.30 per share on revenue of $882.17 million. The Earnings Whisper number was $0.32 per share. The company missed expectations by 3.13% while revenue grew 12.93% on a year-over-year basis.The company said it expects 2024 earnings of $0.74 to $0.82 per share on revenue of $2.925 billion to $3.025 billion. The current consensus earnings estimate is $0.84 per share on revenue of $2.97 billion for the year ending December 31, 2024.
iRobot (IRBT) reported a loss of $2.18 per share on revenue of $307.54 million for the . The consensus revenue estimate was revenue of $307.99 million. Revenue fell 14.06% compared to the same quarter a year ago.The company said it expects a 2024 non-GAAP loss of $3.73 to $3.30 per share on revenue of $825.0 million to $865.0 million. The current consensus estimate is a loss of $2.49 per share on revenue of $865.02 million for the year ending December 31, 2024.
Zoom Video Communications (ZM) reported earnings of $1.42 per share on revenue of $1.15 billion for the . The consensus earnings estimate was $1.15 per share on revenue of $1.13 billion. The Earnings Whisper number was $1.21 per share. The company beat expectations by 17.36% while revenue grew 2.56% on a year-over-year basis. The company said it expects first quarter non-GAAP earnings of $1.18 to $1.20 per share on revenue of approximately $1.125 billion. The current consensus earnings estimate is $1.13 per share on revenue of $1.13 billion for the quarter ending April 30, 2024. The company said it expects fiscal 2025 non-GAAP earnings of $4.85 to $4.88 per share on revenue of approximately $4.60 billion. The current consensus earnings estimate is $4.71 per share on revenue of $4.65 billion for the year ending January 31, 2025.
Block (SQ) reported earnings of $0.45 per share on revenue of $5.77 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.62 per share on revenue of $5.70 billion. The Earnings Whisper number was $0.68 per share. The company missed expectations by 33.82% while revenue grew 24.13% on a year-over-year basis.
Rocket Companies (RKT) reported a loss of $0.06 per share on revenue of $693.81 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.07 per share on revenue of $769.00 million. The company beat consensus estimates by 14.29% while revenue grew 44.30% on a year-over-year basis.The company said it expects first quarter revenue of $925.0 million to $1.075 billion. The current consensus revenue estimate is $929.87 million for the quarter ending March 31, 2024.
(Digital Ocean)DOCN Revenue for the quarter ended Dec. 31 was $180.9 million, up from $163 million a year earlier.
Analysts surveyed by Capital IQ estimated $178.4 million.For Q1, the company said it expects non-GAAP net income of $0.37 to $0.39 per diluted share on revenue of $182 million to $183 million. Analysts polled by Capital IQ expect earnings of $0.38 on revenue of $182.5 million. For 2024, the company said it expects non-GAAP net income of $1.60 to $1.67 per diluted share on revenue of $755 million to $775 million. Analysts surveyed by Capital IQ expect earnings of $1.64 on revenue of $766.6 million.
NVIDIA (NVDA) reported earnings of $5.16 per share on revenue of $22.10 billion for the fiscal fourth quarter ended January 2024. The consensus earnings estimate was $4.56 per share on revenue of $20.24 billion. The Earnings Whisper number was $4.67 per share. The company beat expectations by 10.49% while revenue grew 265.28% on a year-over-year basis.The company said it expects first-quarter non-GAAP earnings of $5.18 to $5.64 per share on revenue of $23.52 billion to $24.48 billion. The current consensus earnings estimate is $5.00 per share on revenue of $22.17 billion for the quarter ending April 30, 2024.
RingCentral (RNG) reported earnings of $0.86 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.82 per share on revenue of $569.65 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 3.61%.The company said it expects first quarter non-GAAP earnings of $0.79 to $0.80 per share on revenue of $575.0 million to $580.0 million. The current consensus earnings estimate is $0.79 per share on revenue of $580.35 million for the quarter ending March 31, 2024. The company said it expects 2024 non-GAAP earnings of $3.50 to $3.58 per share on revenue of $2.37 billion to $2.395 billion. The current consensus earnings estimate is $3.48 per share on revenue of $2.40 billion for the year ending December 31, 2024.
Transocean (RIG) reported a loss of $0.09 per share on revenue of $741.00 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.22 per share on revenue of $760.58 million. The Earnings Whisper number was a loss of $0.23 per share. The company beat expectations by 60.87% while revenue grew 22.28% on a year-over-year basis.
Trade Desk (TTD) reported earnings of $0.41 per share on revenue of $605.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.44 per share on revenue of $581.94 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 12.77% while revenue grew 23.45% on a year-over-year basis.The company said it expects first quarter revenue of at least $478.0 million. The current consensus revenue estimate is $451.63 million for the quarter ending March 31, 2024.
Roku (ROKU) reported a loss of $0.55 per share on revenue of $984.43 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.65 per share on revenue of $959.66 million. The Earnings Whisper number was a loss of $0.49 per share. The company missed expectations by 12.24% while revenue grew 13.54% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of approximately $850.0 million. The current consensus revenue estimate is $823.96 million for the quarter ending March 31, 2024.
Toast (TOST) reported a loss of $0.07 per share on revenue of $1.04 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.11 per share on revenue of $1.01 billion. The Earnings Whisper number was a loss of $0.08 per share. The company beat expectations by 12.50% while revenue grew 34.72% on a year-over-year basis.
Twilio (TWLO) reported earnings of $0.86 per share on revenue of $1.08 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.58 per share on revenue of $1.04 billion. The Earnings Whisper number was $0.66 per share. The company beat expectations by 30.30% while revenue grew 5.01% on a year-over-year basis.The company said it expects first quarter non-GAAP earnings of $0.56 to $0.60 per share on revenue of $1.025 billion to $1.035 billion. The current consensus earnings estimate is $0.54 per share on revenue of $1.05 billion for the quarter ending March 31, 2024.
Shopify (SHOP) reported earnings of $0.34 per share on revenue of $2.14 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.31 per share on revenue of $2.08 billion. The Earnings Whisper number was $0.38 per share. The company missed expectations by 10.53% while revenue grew 23.58% on a year-over-year basis.
Upstart (UPST) reported a loss of $0.11 per share on revenue of $140.31 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.14 per share on revenue of $135.28 million. The Earnings Whisper number was a loss of $0.12 per share. The company beat expectations by 8.33% while revenue fell 4.49% compared to the same quarter a year ago.The company said it expects first quarter revenue of approximately $125.0 million. The current consensus revenue estimate is $141.18 million for the quarter ending March 31, 2024.
Airbnb (ABNB) reported earnings of $0.76 per share on revenue of $2.22 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.67 per share on revenue of $2.16 billion. The Earnings Whisper number was $0.72 per share. The company beat expectations by 5.56% while revenue grew 16.61% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of $2.03 billion to $2.075 billion. The current consensus revenue estimate is $2.03 billion for the quarter ending March 31, 2024.
Kratos Defense & Security Solutions (KTOS) reported earnings of $0.12 per share on revenue of $273.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.10 per share on revenue of $254.40 million. The Earnings Whisper number was $0.11 per share. The company beat expectations by 9.09% while revenue grew 9.83% on a year-over-year basis.The company said it expects first quarter revenue of $240.0 million to $260.0 million and 2024 revenue of $1.125 billion to $1.150 billion. The current consensus revenue estimate is $253.31 million for the quarter ending March 31, 2024 and revenue of $1.11 billion for the year ending December 31, 2024.
Pinterest (PINS) reported earnings of $0.53 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.51 per share on revenue of $988.18 million. The Earnings Whisper number was $0.56 per share. The company missed expectations by 5.36%.The company said it expects first quarter revenue of $690.0 million to $705.0 million. The current consensus revenue estimate is $699.58 million for the quarter ending March 31, 2024.
Roblox (RBLX) reported a loss of $0.52 per share on revenue of $749.94 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.57 per share on revenue of $1.07 billion. The Earnings Whisper number was a loss of $0.54 per share. The company beat expectations by 3.70% while revenue grew 29.52% on a year-over-year basis.The company said it expects first quarter bookings of $910.0 million to $940.0 million and 2024 bookings of $4.14 billion to $4.28 billion. The current consensus revenue estimate is $907.23 million for the quarter ending March 31, 2024 and $4.03 billion for the year ending December 31, 2024.
Walt Disney (DIS) reported earnings of $1.22 per share on revenue of $23.55 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.97 per share on revenue of $23.47 billion. The Earnings Whisper number was $1.07 per share. The company beat expectations by 14.02% while revenue grew 0.16% on a year-over-year basis.
PayPal (PYPL) reported earnings of $1.48 per share on revenue of $8.03 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.36 per share on revenue of $7.87 billion. The Earnings Whisper number was $1.40 per share. The company beat expectations by 5.71% while revenue grew 8.71% on a year-over-year basis. The company said it expects first quarter earnings of approximately $1.23 per share and 2024 earnings of approximately $5.10 per share. The current consensus estimate is earnings of $1.27 per share for the quarter ending March 31, 2024 and earnings of $5.49 per share for the year ending December 31, 2024.
BP Reports Q4 (Dec) earnings of $1.07 per share, $0.11 better than the FactSet Consensus of $0.96; revenues fell 24.7% year/year to $52.14 bln vs the $53.14 bln FactSet Consensus.Operating cash flow in the quarter of $9.4 billion includes a working capital* release (after adjusting for inventory holding losses, fair value accounting effects and other adjusting items) of $2.1 billion (see page 28).Capital expenditure in the fourth quarter was $4.7 billion and total 2023 capital expenditure, including inorganic capital expenditure* was $16.3 billion.Growing shareholder distributions: Dividend per ordinary share 7.270 cents per share +10% versus 4Q22; 4Q23 $1.75bn share buyback announced; committed to announcing $3.5bn share buyback for the first half of 2024
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $608.35 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.08 per share on revenue of $602.55 million. The Earnings Whisper number was $0.08 per share. The company reported in-line with expectations while revenue grew 19.61% on a year-over-year basis.The company said it expects first quarter revenue of $612.0 million to $616.0 million and 2024 revenue of $2.652 billion to $2.668 billion. The current consensus revenue estimate is $615.50 million for the quarter ending March 31, 2024 and revenue of $2.66 billion for the year ending December 31, 2024.
Amazon.com (AMZN) reported earnings of $1.00 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.81 per share on revenue of $166.04 billion. The Earnings Whisper number was $0.88 per share. The company beat expectations by 13.64%.The company said it expects first quarter revenue of $138.0 billion to $143.5 billion. The current consensus revenue estimate is $142.21 billion for the quarter ending March 31, 2024.
Meta Platforms (META) reported earnings of $5.33 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $4.82 per share on revenue of $38.82 billion. The Earnings Whisper number was $5.00 per share. The company beat expectations by 6.60%.The company said it expects first quarter revenue of $34.50 billion to $37.00 billion. The current consensus revenue estimate is $33.72 billion for the quarter ending March 31, 2024.
QUALCOMM (QCOM) reported earnings of $2.75 per share on revenue of $9.94 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $2.37 per share on revenue of $9.51 billion. The Earnings Whisper number was $2.45 per share. The company beat expectations by 12.24% while revenue grew 4.99% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of $2.20 to $2.40 per share on revenue of $8.90 billion to $9.70 billion. The current consensus earnings estimate is $2.25 per share on revenue of $9.29 billion for the quarter ending March 31, 2024.
Teradyne (TER) beats by $0.07, reports revs in-line; guides Q1 EPS below consensus, revs below consensus Reports Q4 (Dec) earnings of $0.79 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.72; revenues fell 8.4% year/year to $670.6 mln vs the $674.99 mln FactSet Consensus. Co issues downside guidance for Q1, sees EPS of $0.22-0.38, excluding non-recurring items, vs. $0.54 FactSet Consensus; sees Q1 revs of $540-590 mln vs. $625.49 mln FactSet Consensus."Looking into the new year, we expect low tester utilization will impact demand in the first half of the year but anticipate the full year Semiconductor test demand to incrementally improve from 2023. In Robotics, after expected seasonal weakness in Q1, we project consistent quarterly growth powered by new products, new applications and improvements in our global distribution channels."
Alphabet (GOOGL) reported earnings of $1.64 per share on revenue of $86.31 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.60 per share on revenue of $85.26 billion. The Earnings Whisper number was $1.68 per share. The company missed expectations by 2.38% while revenue grew 13.49% on a year-over-year basis.
Starbucks (SBUX) reported earnings of $0.90 per share on revenue of $9.43 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.92 per share on revenue of $9.65 billion. The Earnings Whisper number was $0.95 per share. The company missed expectations by 5.26% while revenue grew 8.16% on a year-over-year basis.
Alaska Air Group (ALK) reported earnings of $0.30 per share on revenue of $2.55 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.18 per share on revenue of $2.55 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 100.00% while revenue grew 2.99% on a year-over-year basis.
Tesla (TSLA) reported earnings of $0.71 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.74 per share on revenue of $23.17 billion. The Earnings Whisper number was $0.77 per share. The company missed expectations by 7.79%
AT&T (T) reported earnings of $0.54 per share on revenue of $32.02 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.55 per share on revenue of $28.68 billion. The Earnings Whisper number was $0.57 per share. The company missed expectations by 5.26% while revenue grew 2.17% on a year-over-year basis.The company said it expects 2024 earnings of $2.15 to $2.25 per share, including items of $0.32 per share. The current consensus earnings estimate is $2.46 per share for the year ending December 31, 2024.
Netflix (NFLX) reported earnings of $2.11 per share on revenue of $8.83 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.20 per share on revenue of $8.71 billion. The Earnings Whisper number was $2.28 per share. The company missed expectations by 7.46% while revenue grew 12.49% on a year-over-year basis.The company said it expects first quarter earnings of approximately $4.49 per share on revenue of approximately $9.24 billion. The current consensus earnings estimate is $4.00 per share on revenue of $9.26 billion for the quarter ending March 31, 2024.
3M (MMM) reported earnings of $2.42 per share on revenue of $8.01 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.31 per share on revenue of $7.02 billion. The Earnings Whisper number was $2.35 per share. The company beat expectations by 2.98% while revenue fell 0.82% compared to the same quarter a year ago.The company said it expects 2024 earnings of $9.35 to $9.75 per share. The current consensus earnings estimate is $9.90 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.29 per share on revenue of $19.93 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.25 per share on revenue of $19.83 billion. The Earnings Whisper number was $1.30 per share. The company missed expectations by 0.77% while revenue grew 10.14% on a year-over-year basis.The company said it expects 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.00 billion. The current consensus earnings estimate is $5.40 per share on revenue of $79.32 billion for the year ending December 31, 2024.
Apple hit with over 1.8 bln euro EU antitrust fine in Spotify case
Foo Yun Chee
Mon, Mar 4, 2024, 5:01 AM MST2 min read
https://finance.yahoo.com/news/apple-hit-over-1-8-120144772.html
BRUSSELS, March 4 (Reuters) - Apple was hit with an EU antitrust fine of over 1.8 billion euros ($1.95 billion) on Monday, its first ever, for preventing Spotify and other music streaming services from informing users of payment options outside its App Store.
The European Commission's decision was triggered by a 2019 complaint by Swedish music streaming service Spotify over this restriction and Apple's 30% App Store fees.
The European Union competition enforcer said Apple's restrictions constituted unfair trading conditions, a relatively novel argument in an antitrust case and also used by the Dutch antitrust agency in a decision against Apple in 2021 in a case brought by dating app providers.
The EU competition enforcer said it added an additional lump sum of 1.8 billion euros to the basic amount as a deterrent to Apple and because a significant part of the harm caused by Apple's conduct was non-monetary. It did not say what the basic amount was.
""For a decade, Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store," EU antitrust chief Margrethe Vestager said in a statement.
"They did so by restricting developers from informing consumers about alternative, cheaper music services available outside of the Apple ecosystem. This is illegal under EU antitrust rules," she said.
Apple criticised the EU decision, saying it would challenge it in court.
"The decision was reached despite the Commission's failure to uncover any credible evidence of consumer harm, and ignores the realities of a market that is thriving, competitive, and growing fast," the company said in a statement.
"The primary advocate for this decision — and the biggest beneficiary — is Spotify, a company based in Stockholm, Sweden. Spotify has the largest music streaming app in the world, and has met with the European Commission more than 65 times during this investigation," it said.
It said the Swedish company pays no commission to Apple as it sells its subscriptions on its website and not on Apple's App Store.
Vestager's order to Apple to remove its App Store restrictions echoes the same requirement under new EU tech rules known as the Digital Markets Act (DMA) which Apple has to comply with on March 7.
Apple's fine, however, is about a quarter of the 8.25 billion euro fines the EU regulator meted out to Alphabet's Google in three cases in the previous decade.
In contrast to the music streaming case, Apple is seeking to settle another EU antitrust investigation by offering to open up its tap-and-go mobile payment systems to rivals.
EU regulators, who subsequently sought feedback from rivals and users, will likely accept its offer without fining the company.
($1 = 0.9213 euros) (Reporting by Foo Yun Chee; editing by Emelia Sithole-Matarise)
Zoom Video Communications Is Spending $1.5 Billion to Buy Its Own Stock. Should Investors Buy, Too?
Justin Pope, The Motley Fool
Fri, Mar 1, 2024, 4:48 AM MST4 min read
https://finance.yahoo.com/news/zoom-video-communications-spending-1-114800659.html
Zoom Video Communications (NASDAQ: ZM) -- which soared as the coronavirus peaked and flopped as the pandemic eased -- surprised Wall Street with better-than-expected fourth-quarter earnings and a new $1.5 billion share repurchase program. Shares bounced on the earnings report, which is encouraging for a stock that remains 88% off its former high.
So, is this the beginning of Zoom's resurgence? Or are the stock's best days behind it?
Digging through Zoom's fourth-quarter earnings yielded some surprises. Although the company still must find a way to get top-line growth going again, the stock offers investors a lot of potential upside at this bargain-basement price.
Here is what you need to know.
Zoom still can't grow revenue
Zoom is still struggling to grow. Yes, the company topped analysts' revenue expectations by $20 million, but fourth-quarter revenue grew only 3% year over year. And management guided for $4.6 billion in revenue for fiscal year 2025, just 1.6% over fiscal 2024.
The company is dealing with some international weaknesses. Fourth-quarter revenue was flat in Europe and the Middle East, and sales declined 3% in the Asia-Pacific region. This partly offset the 4% growth in North and South America.
You still want to see better growth, which could ultimately depend on Zoom's ability to increase spending by existing clients, since the company has more than 220,000 enterprise customers today.
Its 101% net revenue retention rate signals that existing customer spending is stagnant. The company is trying to cross-sell new products that are based on artificial intelligence (AI), and it pointed to some traction in the fourth quarter, calling out some notable logo wins in Broadcom and Diageo.
Still, Zoom feels like a car stuck in the mud, spinning its tires but not moving much. Hopefully, revenue increases will accelerate again, but investors might have to be patient and wait at least another four quarters, barring Zoom outperforming its guidance.
Putting all that cash to work
It's not all bad news. There are reasons the stock is attractive despite its struggling revenue growth. For starters, Zoom is an absolute cash flow machine. The company's revenue didn't grow much over the past year, but free cash flow did. It was up 27% year over year to $1.6 billion, a healthy 32% of revenue.
Zoom now has $7 billion in cash and short-term investments against zero long-term debt. That's roughly 36% of its market cap.
Management isn't sitting on its hands, either. The company announced a new $1.5 billion share repurchase program, enough to retire 7.5% of outstanding shares at Zoom's current price.
Generally, low revenue growth is going to translate to low earnings growth. But since Zoom is so profitable and has so much cash, it can financially engineer earnings growth and drive shareholder value.
That's why analysts estimate Zoom's earnings growth could average over 30% annually over the next three to five years.
A tremendous value right now
Share repurchases are tremendously effective at creating shareholder value when the stock is cheap. And Zoom is a bargain today. Shares are trading at a forward price-to-earnings (P/E) ratio of just under 14, a huge discount to the broader market. And even with sluggish revenue growth, the business is poised to grow earnings faster than most.
To see how much Wall Street is doubting Zoom, investors can use the price/earnings-to-growth (PEG) ratio, which compares a stock's valuation to the company's expected growth. I generally buy stocks at a PEG ratio of 1.5 or less; traditionally, a PEG ratio of 1 or less is considered a great buy. Zoom's PEG ratio is only 0.41.
Zoom could fall on its face and grow its earnings at half the pace analysts expect, and the stock's PEG ratio would still be under 1. The market has set expectations remarkably low.
Fortunately, low expectations don't require home-run results to create significant investment returns. Zoom is unfairly cheap for a company so profitable and flush with cash. The stock could be a winner again if Wall Street comes to its senses and realizes that.
16 Best Cloud Computing Stocks To Buy Now
Sheryar Siddiq
Wed, Feb 28, 2024, 9:40 AM MST12 min read
https://finance.yahoo.com/news/16-best-cloud-computing-stocks-164010158.html
In this article, we will be taking a look at the 16 best cloud computing stocks to buy now. To skip our detailed analysis of the cloud computing industry, you can go directly to see the 5 Best Cloud Computing Stocks To Buy Now.
Throughout 2023, the information technology sector consistently surpassed both investor and analyst expectations. Innovations like artificial intelligence (AI) and generative AI emerged as key drivers of the tech rally, propelling stock prices for tech companies to unprecedented levels. While AI certainly commands attention in the current year, it's not the only tech frontier worth investors' focus. Cloud computing stands out as another compelling area for development and investment. With individuals, corporations, and governments globally transitioning towards a more digital landscape, the potential of cloud computing is increasingly promising.
Cloud computing experienced significant growth during the 2010s, but the expansion of this next-generation IT industry is still in its early stages. Over the years, organizations worldwide have been transitioning their operations to the cloud, storing digital data and services in remote data centers and accessing them via the Internet. However, the surge in remote work during the pandemic hastened this trend. Now, the emergence of generative AI is driving the next wave of cloud expansion. According to tech researcher Gartner, global spending on cloud computing, which includes data center infrastructure and edge computing, was projected to surge to $600 billion in 2023, with an estimated rise to $725 billion in 2024.
Given these dynamics, cloud computing stocks like Oracle Corporation (NASDAQ:ORCL), ServiceNow, Inc. (NYSE:NOW), and Snowflake Inc. (NYSE:SNOW) stand out as premier investments in the tech sector, drawing significant interest from both individual investors and hedge funds. As the industry's expansion continues to gather momentum, we've curated a list of the best cloud computing stocks to aid investors in identifying promising opportunities. This selection encompasses leading pure-play cloud companies as well as others with diversified business portfolios, offering a comprehensive view of the current landscape for potential investments.
Our Methodology
We used Insider Monkey's hedge fund data from the fourth quarter of 2024 to find the best cloud computing stocks that were popular among hedge funds in that quarter. We then shortlisted and ranked these stocks based on the number of hedge funds holding stakes in them, from the lowest to the highest number. Over the past decade, the top 10 consensus stock picks of hedge funds have outperformed the S&P 500 Index by more than 140 percentage points (see the details here). This is a significant outperformance, and it underscores the importance of closely monitoring this frequently overlooked indicator.
16. The Trade Desk, Inc. (NASDAQ:TTD)
15. Twilio Inc. (NYSE:TWLO)
14. Veeva Systems Inc. (NYSE:VEEV)
13. International Business Machines Corporation (NYSE:IBM)
12. Cisco Systems, Inc. (NASDAQ:CSCO)
11. Intuit Inc. (NASDAQ:INTU)
10. Workday, Inc. (NYSE:WDAY)
9. Snowflake Inc. (NYSE:SNOW)
8. ServiceNow, Inc. (NYSE:NOW)
7. Oracle Corporation (NASDAQ:ORCL)
6. Adobe Inc. (NASDAQ:ADBE)
5. Alibaba Group Holding Limited (NYSE:BABA)
4. Salesforce, Inc. (NYSE:CRM)
3. Alphabet Inc. (NASDAQ:GOOG)
2. Amazon.com, Inc. (NASDAQ:AMZN)
1. Microsoft Corporation (NASDAQ:MSFT)
RBLX opinion: 2 Artificial Intelligence (AI) Stocks That Could Go Parabolic
Matt Frankel, The Motley Fool
Sat, Feb 24, 2024
https://finance.yahoo.com/news/2-artificial-intelligence-ai-stocks-123300241.html
Artificial intelligence (AI) is an exciting investment trend right now. Generative AI is forecast to become a trillion-dollar market within the next decade, and this will create a lot of investment opportunities along the way.
Some of these investment opportunities are rather obvious, and some have already had parabolic moves, such as Nvidia, which was catapulted into the trillion-dollar club by the AI boom. But others are less obvious plays on AI technology. Here are two I'm loading up on in my own portfolio.
The evolution of AI could boost this metaverse stock
Popular video gaming platform Roblox (NYSE: RBLX) is perhaps the closest thing that exists to a true metaverse experience today. The platform has more than 71 million daily active users who sign up for the platform, create avatars, and explore the experiences available, and millions of developers create (and monetize) unique content.
Roblox gets a cut of all virtual purchases and has some other revenue streams, such as advertising. In 2023, Roblox produced $2.8 billion in revenue.
The platform continues to grow rapidly, with 30% year-over-year revenue growth in the fourth quarter. Management has a long-term goal to scale to 1 billion users and is doing a great job of growing internationally and making its platform available in different ways -- for example, Roblox just became available on Sony PlayStation in the fourth quarter. As more immersive devices become widely adopted, such as those made by Meta Platforms and Apple, Roblox could be a big winner.
Roblox isn't a profitable business just yet, but it is clearly heading in that direction. If it can continue to scale rapidly while achieving profitability, it could be a big winner for investors.
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Sofi is the other one - Not interested in the info on that : Available on link
RIVN: Will Apple Acquire Rivian? 1 Wall Street Analyst Thinks it Should
Adam Spatacco, The Motley Fool
Sat, Mar 2, 2024, 4:02 AM MST4 min read
https://finance.yahoo.com/news/apple-acquire-rivian-1-wall-110200309.html
Electric vehicles (EVs) are among the bedrock technologies of the sustainability movement. Unsurprisingly, most legacy car manufacturers, including Ford, General Motors, and Volkswagen, have experimented with battery-powered vehicles.
But beyond traditional automakers, some big tech companies have shown an interest in entering the EV market. For the last several years, Apple (NASDAQ: AAPL) has reportedly been working on an EV of its own. In a lot of ways, this makes sense. Apple has a long history of innovation, specifically when it comes to consumer electronics. However, just this week, news broke that Apple is abandoning its in-house EV effort, dubbed Project Titan.
Does this mean that Apple is giving up on its EV ambitions for good?
Wall Street's interesting idea
Gene Munster of Deepwater Asset Management is one of Wall Street's most respected technology analysts. And while Project Titan appears to have been consigned to the dustbin of tech sector history, Munster just floated an interesting idea.
During a discussion on CNBC Tuesday, Munster put forth the notion that Apple should acquire Rivian. This is interesting for several reasons.
First, Rivian has demonstrated some success in the highly competitive EV landscape. However, the company seems to be stuck in a "one step forward, two steps back" paradigm. In other words, every time it seems to be turning over a new leaf, fresh problems arise.
Apple and Rivian are both in need of growth
On one side of the equation, you have Apple, a company whose flagship consumer electronics business is struggling. The company's revenue has been in consistent decline as consumers wait longer between upgrades of products such as iPhones, iPads, laptops, and wearable devices.
While Apple's Services business is accelerating nicely, that growth has not been enough to offset the lagging hardware sales. As such, Apple is in need of additional growth drivers.
On the other side of the equation sits Rivian. In 2023, it produced 57,232 vehicles -- an increase of 135% year over year. While that's encouraging, it's not all smooth sailing from here.
During the company's fourth-quarter earnings call, management shocked investors when it guided for essentially flat production in 2024.
Apple and Rivian both share a similar problem: In an economic environment defined by interest rates higher than consumers have dealt with in years and the ripple effects of recent high inflation, demand for luxury consumer goods is simply not that strong.
With both companies desperate to accelerate growth and get investors excited, are Apple and Rivian a match made in heaven?
Should Apple acquire Rivian?
On the surface, I completely understand Munster's proposal.
For Rivian, a deal with Apple could be transformative. As part of Apple, it would immediately gain access to a larger team of engineers and technologists, and would have the luxury of Apple's bankroll. Apple, meanwhile, would gain access to the EV market and add yet another product to its sticky ecosystem.
Apple currently has more than $73 billion of cash and equivalents on its balance sheet. Rivian's market capitalization is around $11 billion.Given those parameters, it's clear that Apple could acquire Rivian in an all-cash deal at a pretty generous premium, and still have plenty of change left over.
But a closer look at Apple's history with regard to making acquisitions puts the possibility of such a hypothetical deal becoming reality in a different light.
Apple's largest purchase ever was its $3 billion deal for headphone company Beats Electronics in 2014. Across its 10 largest acquisitions, Apple has spent roughly $7.4 billion.
Those data points make one thing clear: Apple rarely pursues big-ticket acquisitions. So while the idea of it acquiring Rivian is interesting, and while such a deal could even make strategic sense for both companies, I see it as highly unlikely. Large-scale acquisitions have not been part of Apple's DNA, and I don't see that changing anytime soon.
PLUG: Plug Power to see demand for hydrogen-based power backup systems from data centers
Reuters
Fri, Mar 1, 2024, 2:51 PM MST2 min read
https://finance.yahoo.com/news/plug-power-see-demand-hydrogen-215144309.html
March 1 (Reuters) - Plug Power said on Friday it expects demand for its green hydrogen fuel cell storage systems from data centers to pick up in the second half of 2025.
The company said due to restrictions of diesel engines and the need for continuous power supply, fuel cells that use green hydrogen, which is a zero-carbon energy fuel, could be used as backup power options for data centers.
"So when you look at the three major data center operators, Plug is engaged and planning some initial deployment and tests with all," Plug's CEO Andrew Marsh said on a conference call, without naming the operators.
"I don't think it's a 2024 event, I think it could be a late 2025 event where you start seeing some deployments at some scale."
Electricity demand in the United States is expected to boom from power-hungry artificial intelligence-based data centers, with some utilities reporting deals to bring the new load on in the next year or two.
With industry leaders such as Amazon, Microsoft and Google seeking to improve sustainability by reducing their carbon footprint and moving away from diesel usage, there could be increased demand for hydrogen in stationary business applications, said James West, analyst at Evercore ISI.
According to Boston Consulting Group, by 2030, the electricity needed to power generative AI platforms would be equivalent to the power required for about 5 million U.S. homes.
Plug Power in its fourth-quarter call also said it was close to finalizing on its billion-dollar loan facility with the U.S. Department of Energy.
The hydrogen fuel cell company has been facing liquidity issues amid supply challenges in the liquid hydrogen market in North America. But Plug on Friday cleared its going concern doubts, which it had raised in November. (Reporting by Seher Dareen in Bengaluru; Editing by Shilpi Majumdar)
PLTR: Ukraine strikes deal with Peter Thiel’s tech giant to clear unexploded mines
Matthew Field
Sat, Mar 2, 2024, 7:00 AM MST4 min read
https://finance.yahoo.com/news/ukraine-strikes-deal-peter-thiel-140000167.html
Members of the de-mining department of the Ukrainian Emergency Services
Roughly a third of Ukraine's landmass is thought to be hazardous because of mines - VIOLETA SANTOS MOURA/REUTERS
Ukraine has turned to a company founded by Silicon Valley billionaire Peter Thiel to clear thousands of square miles of mines and explosives.
The deal will see Palantir supply Ukraine with its artificial intelligence (AI) tools to organise and accelerate its demining efforts.
Ukraine is hoping to decontaminate 80pc of its potentially mined land within 10 years and bring it back into economic use, freeing up millions of acres of farmland. Roughly a third of the country’s landmass is thought to be hazardous owing to mines or unexploded ordnance.
The World Bank has estimated efforts to remove the explosives could cost up to $38bn (£30bn), with Ukraine seeking international deals and support to accelerate the effort even as it grapples with Russian advances in the Donbas.
The 12-month agreement with Palantir builds on an earlier pilot programme. Palantir’s technology can be used to create a digital map of Ukraine’s territory and resources, such as heavy machinery and drones, and prioritise its clearance efforts.
Mr Thiel's Palantir is known for its work with US intelligence agencies and its armed forces - John Lamparski/Getty Images
Yulia Svyrydenko, Ukraine’s economic minister, said clearing Ukraine’s land would take “decades with the resources we have”.
“We’ve discussed with Palantir the opportunity to set up a programme for a more sophisticated approach”, she said. “It is very important to prioritise.”
The country has approximately 50 heavy demining machines and has trained around 3,500 sappers. It is seeking to double the number of machines it has available in deals with overseas suppliers and by boosting local factories.
Louis Mosley, Palantir’s European executive vice president, said the company’s technology “allows you to make a data driven decision about the highest priority area to demine”.
The deal with Palantir does not have an initial upfront cost to Ukraine.
Mr Mosley said: “Fundamentally we are doing this because we believe supporting Ukraine is the right thing to do.”
Ukraine is struggling to plug its huge budget deficit and restart its economy even as politicians in Washington DC delay a crucial aid package for Kyiv. It comes as Ukraine is forced to retreat from eastern villages following Russia’s capture of Avdiivka in February after months of costly fighting.
In an interview with The Telegraph, Ms Svyrydenko called on the US to “follow the same example” of Europe and pass the multibillion-dollar support package. A $54bn EU deal to provide more aid to Ukraine was agreed in February.
However, she added some EU officials still needed to be persuaded to unlock further funds by sending frozen Russian cash to Ukraine. Hundreds of billions of euros are locked in Russian bank accounts across the EU, with calls to use the interest for Ukrainian aid.
Ukraine was forced to retreat from eastern villages after months of costly fighting - VITALII NOSACH/EPA-EFE/Shutterstock
“During this year our minimum goal is to get at least income from the frozen assets,” Ms Svyrydenko said. “I believe that our professional team will be able to persuade. But it is the right direction.”
On Wednesday, Ursula von der Leyen, the European Commission president, expressed her backing for the idea, while Rishi Sunak has been a vocal proponent.
Last week, Ms Svyrydenko, on a visit to London, met with Lord Cameron, the Foreign Secretary, to discuss further efforts to support Ukraine, such as expanding war insurance agreements with underwriters in the City.
Founded by Republican donor Mr Thiel, Palantir is known for its work with US intelligence agencies and its armed forces.
Since Russia’s invasion in 2022, it has been working in Ukraine on supporting its armed forces and resettling refugees, as well as sifting through evidence for prosecuting potential Russian war crimes.
Palantir’s sales have surged this year on the back of demand for its AI technology, which is aimed at governments and the defence sector. Its shares jumped 50pc in one day in January amid investor enthusiasm for AI, valuing the business at $55bn.
Ukraine has relied heavily on software and novel technologies such as small drones to boost its war effort in the face of Russia’s vast military resources.
In January, Palantir said it had signed a deal with Israel’s government to provide its technology for “war-related missions”.
In the UK, it has provided services to the government during Covid and signed a major NHS data contract, despite concerns from campaigners over its ties to US spy agencies and far-reaching defence deals.
Is Now the Time to Buy DocuSign Stock?
Robert Izquierdo, The Motley Fool
Sat, Feb 24, 20244 min read
KEY POINTS
DocuSign shares dropped after rumors of a takeover bid evaporated.
The company’s financials, such as free cash flow, are strengthening under new CEO Allan Thygesen.
DocuSign is working to expand product offerings beyond its core e-signature platform.
https://finance.yahoo.com/news/now-time-buy-docusign-stock-143500826.html
With over 1.4 million paying customers, DocuSign (NASDAQ: DOCU) is the largest e-signature company in the world. It's estimated to hold a nearly 68% share of the e-signing market.
Even so, its stock is currently well below the 52-week high of $66.98 achieved last March, and down from the more than $60 per share reached in January. The current dip in share price could be a buying opportunity, or a signal to avoid the company. To know which, you have to examine what's going on with DocuSign in more detail.
And now is a good time to do so, since DocuSign is scheduled to release fiscal fourth-quarter earnings on March 7. So let's dive into the company to determine if it's a worthwhile investment.
DocuSign's sales success
DocuSign shares shot up toward the end of 2023 and into 2024 because of news reports that the company was in talks to be acquired. However, no such deal appears to be happening at this time. As a result, DocuSign stock dropped.
Acquisition rumors aside, DocuSign's ability to successfully grow its business is what can drive its share price higher over the long run. The company's sales hit $700.4 million in its fiscal third quarter, ended October 31, representing 9% year-over-year growth. DocuSign's revenue has been on an upward trajectory since its 2018 IPO.
The company's sales gains are expected to continue. DocuSign forecasted fiscal Q4 revenue of at least $696 million, an increase over the prior year's $659.6 million.
Along with revenue growth, DocuSign exited Q3 with net income of $38.8 million. This is a dramatic turnaround from the previous year's $29.9 million net loss.
In fact, through three quarters of fiscal 2024, DocuSign's net income was at $46.7 million, compared to a net loss of $102.3 million in the year-ago period. So it's looking like this could be DocuSign's first year as a profitable company since its founding in 2003.
That's a major milestone, and it happened after DocuSign brought on Allan Thygesen, a former executive at Alphabet's Google, as CEO in September of 2022. In just a year, he helped bring financial health to DocuSign.
DocuSign's transformation under its new CEO
When he took over the CEO spot, Mr. Thygesen acknowledged DocuSign "didn't fully address the changing market dynamics, nor mature our operations and systems sufficiently" in response to the huge demand for online services generated by the COVID-19 pandemic's lockdowns, which dropped off after those lockdowns were removed.
But he has a vision for the company that holds promise and seems achievable. He stated, "We see opportunities beyond the replacement of paper signatures to deliver innovative new experiences and to integrate more deeply with partner applications."
To that end, DocuSign announced a partnership with Facebook parent Meta last November, and continues to deepen its relationship with Microsoft by expanding its e-signature integrations to more products, most recently to Microsoft Power Pages.
Mr. Thygesen mentioned "innovative new experiences," and one of these involves contract lifecycle management (CLM). With CLM, DocuSign's platform handles the entire workflow around business contracts digitally, including document creation and routing contracts for necessary approvals and reviews.
CFO Blake Grayson noted that the company's CLM business saw year-over-year double-digit growth in Q3, although DocuSign doesn't release financial details specific to CLM.
To buy or not to buy DocuSign
Under Allan Thygesen, DocuSign generated record free cash flow (FCF) in Q3, reaching $240.3 million, a significant increase from the prior year's $36.1 million. FCF provides insight into the cash available for DocuSign to invest in its business, pay debt obligations, and repurchase shares. Its strong FCF results allowed the company to buy back 1.8 million shares in Q3.
DocuSign also exited the quarter with a solid balance sheet. Its Q3 total assets were $3.3 billion, compared to $2.4 billion in total liabilities. Its cash and equivalents alone were $1.2 billion.
From a financial perspective, DocuSign is delivering solid results under Mr. Thygesen. Moreover, DocuSign stock's average price target among Wall Street analysts is $59.77, indicating some upside potential from where the stock is at currently.
When you take these factors into consideration, along with the impressive results achieved with Allan Thygesen at the helm and the stock's recent price drop, now looks like a good time to buy DocuSign shares.
SHOP
Forget the "Magnificent Seven:" This Beaten-Down Growth Stock Is the Next Trillion-Dollar Company
Ryan Vanzo, The Motley Fool
https://finance.yahoo.com/news/forget-magnificent-seven-beaten-down-132000311.html
Sat, Mar 2, 2024, 6:20 AM MST6 min read
Investing in "Magnificent Seven" stocks has proven a reliable way to make big profits. Many of these companies -- Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla -- have seen their share prices double, triple, or even quadruple in value over just a handful of years.
While investing in the Magnificent Seven may still be a smart decision, investors looking for the biggest growth opportunities should look elsewhere. After huge runs, nearly every company in the Magnificent Seven is now worth at least $1 trillion, the exception being Tesla, which has a market capitalization of around $650 billion.
These megacorporations should continue to grow, but doubling or tripling in size will be increasingly difficult. It's unlikely any of these stocks will soar 1,000% over the coming years. If you want that type of rapid growth, you need to focus on stocks like Shopify (NYSE: SHOP).
The next trillion-dollar company
If you are looking for the next Magnificent Seven stock, it makes sense to ask why these companies were so successful in the first place. Each company followed its own growth trajectory, but they all share a common trait: exposure to platforms.
What exactly is a platform? As the name suggests, it is a foundation upon which other things can be built. Consider Amazon. It offers a platform on which buyers and sellers can transact. Importantly, Amazon isn't the one building everything. It is the buyers and sellers themselves who populate the platform with utility. In this way, Amazon can have a business that has millions of merchants without needing to operate millions of stores itself.
Google parent Alphabet is another great example of a platform-like business. The company didn't create the internet, but its business in many ways allows today's internet model to operate. The web's billions of websites and applications aren't all built directly on Google, but they generate revenue for the company without requiring Google to launch or run these websites itself.
Not every company in the Magnificent Seven is the perfect definition of a platform, but they all benefit from platform economics. That is, they are able to leverage the growth of millions of other businesses and consumers without needing to build all the infrastructure themselves. Outside app developers made Apple's App Store a giant success, not Apple alone. Meta's user base builds the vast majority of content on the company's platforms, not Facebook. Tesla has open-sourced much of its charging technology so that other companies can develop alongside it. Microsoft's Windows operating system is one of tech's earliest platform success stories. And even Nvidia, which arguably has the fewest platform characteristics to its business model, is directly exposed to the growth of platforms as it sells millions of chips every year to companies like Alphabet, Microsoft, Apple, Meta, and Amazon.
Want to find the next Magnificent Seven stock? Look for platform businesses.
Shopify is the perfect platform stock
Shopify is an e-commerce platform primarily focused on independent merchants. While Amazon's growth relies on merchants using its website, Shopify allows anyone to use its platform for launching their own e-commerce site. Shopify's technology, which includes crucial features like payment processing, inventory management, and marketing analytics, silently runs in the background.
Shopify platform diagram
Image source: Shopify Q4 2023 Investor Presentation
This is not an early-stage growth company. More than one million merchants already use Shopify's platform, from small upstarts to megabrands like Nike and Everlane. Revenue growth rates have consistently remained in the double digits, while free-cash-flow levels have improved considerably with the maturity of the business.
SHOP Revenue (Quarterly) data by YCharts.
Since its initial public offering (IPO) in 2015, Shopify stock has increased in value by 2,900%. Now with a $100 billion market cap, it is likely that the company's fastest growth rates are behind it. Still, there's plenty of reason to believe its growth can match or exceed that of the Magnificent Seven in the years to come.
In general, the e-commerce industry should provide Shopify with a rising tide for at least another decade. Global e-commerce sales are expected to exceed $6 billion in 2024, surpassing $8 trillion by 2027. Even if Shopify simply maintained its market share and pricing power, it could add another $30 billion to its market cap in the coming years just by riding industry growth.
Industry growth, however, is just a starting point for Shopify's future. Currently, the company has between 1 million and 2 million merchants using its platform. According to some estimates, there are at least 26 million e-commerce merchants operating worldwide. Shopify already has a solid share of this market, but it's easy to see how it could double or triple its user base over time, especially considering it held just a tiny fraction of the market when shares went public in 2015.
To be sure, Shopify stock is expensive at 14 times sales, but that's a bargain compared to its recent past, when shares traded at a price-to-sales ratio of more than 50. Shares have rebounded from their 2022 lows, but remain around 50% below their previous highs.
SHOP data by YCharts.
Can Shopify hit a $1 trillion market cap?
It may take another decade for Shopify to potentially join the Magnificent Seven, but as with many platform businesses, the company is getting stronger and stronger. More Amazon buyers, for example, attract more Amazon sellers, which attracts yet more buyers. It's a positive feedback loop that can generate trillion-dollar businesses. The same is true for Shopify. The more buyers shop on Shopify-powered websites, the more trust, data, and resources the company accumulates, which it can use to strengthen its platform and attract more merchants, thus attracting more buyers.
Amazon's $1.8 trillion market cap should be a North Star for Shopify's potential. Amazon conquered the centralized e-commerce market, and Shopify appears poised to conquer the independent e-commerce market, providing a growth trajectory that could fuel the stock to Magnificent Seven levels.
Amazon (AMZN):
By: Carl Swenlin | March 1, 2024
Also stolen from Discover! ;)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173955937
Amazon (AMZN): AMZN suffered mightily during COVID, but it has had a magnificent rally for the last year. The most obvious problem is that it will run into strong resistance at the all-time highs of 2021, and at its current rate of climb, it will hit that resistance in just a few weeks.
Prognosis: Still magnificent, but due to run into long-term resistance.
Apple (AAPL) and Google (GOOGL) Flashing "Pure Weakness"
By: Erin Swenlin | March 1, 2024
(Stealing post from Discover: ;)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173955883
We've begun talking more about the Price Momentum Oscillator (PMO) as it relates to finding "pure strength" and "pure weakness". What it all comes down to is the zero line and the PMO's behavior above or below.
We review the Magnificent 7 charts frequently and we noticed that both Apple (AAPL) and Google (GOOGL) are displaying "pure weakness," as far as the PMO is concerned. Pure weakness is defined by the PMO moving lower or moving sideways below the zero line. The distance the PMO is away from the zero line determines the veracity of the condition.
We can see with AAPL, there was a period of "pure strength" back in November. The PMO had moved above the signal line and was rising strongly. When it topped and began to fall above the zero line, it was a sign of diminishing strength. Pure weakness set in when the PMO dropped beneath the zero line, and it is currently in effect. Had we followed the signal, it would've saved quite a bit of downside.
The rest of the chart looks pretty terrible, as well with a negative RSI and Stochastics below 20. Additionally, relative strength is failing across the board.
(Tracking info last pps 3/1/24 179.00 chart will not update. both charts Swelin posted had Feb 29th end dates)
We see a similar setup on GOOGL, but this time the signal is arriving NOW as the PMO dropped beneath the zero line. While this doesn't mean a precipitous decline is ahead, it does tell us to tighten up stops, at the very least.
There are signs that there might be further decline ahead for GOOGL. The RSI is negative, and Stochastics are below 20. Additionally, relative strength is failing across the board.
(Tracking info last pps 3/1/24 137.97 chart will not update)
Apple slides as Goldman Sachs analysts unveil a big change to outlook
Martin Baccardax
Fri, Mar 1, 2024, 5:55 AM MST3 min read
Apple (AAPL) shares moved lower again Friday, extending their year-to-date decline to around 4.1%, following a key analyst downgrade tied in part to the tech giant's muted iPhone growth forecasts.
Apple shares have notably underperformed their Magnificent 7 peers this year, largely as a result of the absence of a defined AI strategy at the world's second-largest tech company.
Fading demand metrics in China, where Apple has been selling the new iPhone 15 at a steep discount, as well as its exit from a decade-long project to build an autonomous car, have added to the downbeat tone surrounding the group.
CEO Tim Cook attempted to address some of those issues earlier this week at the group's annual meeting in Cupertino, Calif., promising investors he would "break new ground" in AI technologies this year. Cook also teased a "major announcement" on AI when he spoke to investors following the group's fiscal-first-quarter earnings report last month.
Cook's comments followed the defeat of a proposal, put forward by AFL-CIO pension fund managers at the annual meeting, to disclose Apple's AI plans and the ethical guidelines it will establish as it rolls out the technology.
Analysts at Goldman Sachs, however, removed the stock from its benchmark 'Conviction Buy List - Directors Cut' but kept their ''buy' rating in place, despite having faith in the earnings power of the tech giant's installed base of iPhones, iPads and Macs.
Goldman: Apple facing headwinds
Goldman noted headwinds tied to product revenue, including "reduced iPhone unit demand from a lengthening replacement cycle and reduced consumer demand for the PC & tablet category." Both those issues, the bank noted, would "more than offset ... Apple's installed-base growth, secular growth in services, and new-product innovation."
Apple is facing a series of headwinds in China, which typically accounts for nearly a fifth of its overall revenue, as officials in Beijing move to ban the device for some government officials and state-backed company employees and intense competition from Asia-based rivals eats into its market share.
The group is also seeing fading overall demand for its newly launched iPhone 15, which underwhelmed Apple enthusiasts last autumn and has failed to capture the consumer zeitgeist of previous upgrades.
Global iPhone sales were up 6%, surprising forecasters with a $69.7 billion total that helped overall group revenue rise just over 2% to $119.58 billion.
December-quarter figures in China, however, were disappointing, with revenue falling 13% to $20.82 billion, a tally that missed Wall Street forecasts by around $3 billion.
Nvidia CEO Huang weighs in on huge AI opportunity
In terms of profits, Apple's fiscal-first-quarter bottom line rose 3.8% to $2.18 per share, with net income of $33.92 billion, with both totals topping analysts' forecasts.
Cook told investors that generative AI technologies remain a "huge opportunity" for Apple, and he talked about "a lot of work going on internally" in the earnings conference call.
"Our 'MO', if you will, has always been to do work and then talk about work and not to get out in front of ourselves. And so, we're going to hold that to this as well," Cook said. "But we've got some things that we are incredibly excited about that we'll be talking about later this year."
Apple shares marked 1.6% lower early Friday trading to change hands at $177.89 each, a move that would extend its six-month decline to around 6.1% and peg the first opening price below $180 since last November.
Earnings updated 3-1-24
CHPT 3-5 A
DOCU 3-7 A
PATH 3-13 A
BLNK 3-14 A
PD 3-14 A
NKE 3-21 A
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Plug Power Inc (NASDAQ:PLUG) reported fiscal 2023 net revenue growth of 27.1% year-over-year to $891.234 million, missing the consensus of $900.29 million. Net loss per share was $(2.30), below the consensus of $(1.61).PLUG stated that the incremental loss was primarily driven by increased investments in growth and expansion and the varied non-cash charges recorded in the quarter.
Operating loss for the fiscal expanded to $(1.343) billion from $(679.55) million in 2022.Plug Power wrote down certain assets, which resulted in non-cash charges recorded in the fourth quarter of ~$325 million.Net cash used in operating activities for the fiscal totaled $(1.106) billion, compared to $(828.62) million a year ago.PLUG held cash and cash equivalents of $1.169 billion as of December 31, 2023.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
Rivian Automotive (RIVN) reported a loss of $1.23 per share on revenue of $1.32 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $1.32 per share on revenue of $1.26 billion. The Earnings Whisper number was a loss of $1.28 per share. The company beat expectations by 3.91% while revenue grew 98.34% on a year-over-year basis.
Stem (STEM) reported a loss of $0.21 per share on revenue of $167.42 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.12 per share on revenue of $254.23 million. The Earnings Whisper number was a loss of $0.16 per share. The company missed expectations by 31.25% while revenue grew 7.71% on a year-over-year basis.The company said it expects 2024 revenue of $600.0 million to $700.0 million. The current consensus revenue estimate is $786.78 million for the year ending December 31, 2024.
C3.ai, Inc. (AI) reported a loss of $0.13 per share on revenue of $78.40 million for the fiscal third quarter ended January 2024. The consensus estimate was a loss of $0.28 per share on revenue of $75.92 million. The Earnings Whisper number was a loss of $0.21 per share. The company beat expectations by 38.10% while revenue grew 17.60% on a year-over-year basis.The company said it expects fourth quarter revenue of $82.0 million to $86.0 million. The current consensus revenue estimate is $84.08 million for the quarter ending April 30, 2024.
Leonardo DRS (DRS) reported earnings of $0.31 per share on revenue of $926.00 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.30 per share on revenue of $882.17 million. The Earnings Whisper number was $0.32 per share. The company missed expectations by 3.13% while revenue grew 12.93% on a year-over-year basis.The company said it expects 2024 earnings of $0.74 to $0.82 per share on revenue of $2.925 billion to $3.025 billion. The current consensus earnings estimate is $0.84 per share on revenue of $2.97 billion for the year ending December 31, 2024.
iRobot (IRBT) reported a loss of $2.18 per share on revenue of $307.54 million for the . The consensus revenue estimate was revenue of $307.99 million. Revenue fell 14.06% compared to the same quarter a year ago.The company said it expects a 2024 non-GAAP loss of $3.73 to $3.30 per share on revenue of $825.0 million to $865.0 million. The current consensus estimate is a loss of $2.49 per share on revenue of $865.02 million for the year ending December 31, 2024.
Zoom Video Communications (ZM) reported earnings of $1.42 per share on revenue of $1.15 billion for the . The consensus earnings estimate was $1.15 per share on revenue of $1.13 billion. The Earnings Whisper number was $1.21 per share. The company beat expectations by 17.36% while revenue grew 2.56% on a year-over-year basis. The company said it expects first quarter non-GAAP earnings of $1.18 to $1.20 per share on revenue of approximately $1.125 billion. The current consensus earnings estimate is $1.13 per share on revenue of $1.13 billion for the quarter ending April 30, 2024. The company said it expects fiscal 2025 non-GAAP earnings of $4.85 to $4.88 per share on revenue of approximately $4.60 billion. The current consensus earnings estimate is $4.71 per share on revenue of $4.65 billion for the year ending January 31, 2025.
Block (SQ) reported earnings of $0.45 per share on revenue of $5.77 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.62 per share on revenue of $5.70 billion. The Earnings Whisper number was $0.68 per share. The company missed expectations by 33.82% while revenue grew 24.13% on a year-over-year basis.
Rocket Companies (RKT) reported a loss of $0.06 per share on revenue of $693.81 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.07 per share on revenue of $769.00 million. The company beat consensus estimates by 14.29% while revenue grew 44.30% on a year-over-year basis.The company said it expects first quarter revenue of $925.0 million to $1.075 billion. The current consensus revenue estimate is $929.87 million for the quarter ending March 31, 2024.
(Digital Ocean)DOCN Revenue for the quarter ended Dec. 31 was $180.9 million, up from $163 million a year earlier.
Analysts surveyed by Capital IQ estimated $178.4 million.For Q1, the company said it expects non-GAAP net income of $0.37 to $0.39 per diluted share on revenue of $182 million to $183 million. Analysts polled by Capital IQ expect earnings of $0.38 on revenue of $182.5 million. For 2024, the company said it expects non-GAAP net income of $1.60 to $1.67 per diluted share on revenue of $755 million to $775 million. Analysts surveyed by Capital IQ expect earnings of $1.64 on revenue of $766.6 million.
NVIDIA (NVDA) reported earnings of $5.16 per share on revenue of $22.10 billion for the fiscal fourth quarter ended January 2024. The consensus earnings estimate was $4.56 per share on revenue of $20.24 billion. The Earnings Whisper number was $4.67 per share. The company beat expectations by 10.49% while revenue grew 265.28% on a year-over-year basis.The company said it expects first-quarter non-GAAP earnings of $5.18 to $5.64 per share on revenue of $23.52 billion to $24.48 billion. The current consensus earnings estimate is $5.00 per share on revenue of $22.17 billion for the quarter ending April 30, 2024.
RingCentral (RNG) reported earnings of $0.86 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.82 per share on revenue of $569.65 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 3.61%.The company said it expects first quarter non-GAAP earnings of $0.79 to $0.80 per share on revenue of $575.0 million to $580.0 million. The current consensus earnings estimate is $0.79 per share on revenue of $580.35 million for the quarter ending March 31, 2024. The company said it expects 2024 non-GAAP earnings of $3.50 to $3.58 per share on revenue of $2.37 billion to $2.395 billion. The current consensus earnings estimate is $3.48 per share on revenue of $2.40 billion for the year ending December 31, 2024.
Transocean (RIG) reported a loss of $0.09 per share on revenue of $741.00 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.22 per share on revenue of $760.58 million. The Earnings Whisper number was a loss of $0.23 per share. The company beat expectations by 60.87% while revenue grew 22.28% on a year-over-year basis.
Trade Desk (TTD) reported earnings of $0.41 per share on revenue of $605.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.44 per share on revenue of $581.94 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 12.77% while revenue grew 23.45% on a year-over-year basis.The company said it expects first quarter revenue of at least $478.0 million. The current consensus revenue estimate is $451.63 million for the quarter ending March 31, 2024.
Roku (ROKU) reported a loss of $0.55 per share on revenue of $984.43 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.65 per share on revenue of $959.66 million. The Earnings Whisper number was a loss of $0.49 per share. The company missed expectations by 12.24% while revenue grew 13.54% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of approximately $850.0 million. The current consensus revenue estimate is $823.96 million for the quarter ending March 31, 2024.
Toast (TOST) reported a loss of $0.07 per share on revenue of $1.04 billion for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.11 per share on revenue of $1.01 billion. The Earnings Whisper number was a loss of $0.08 per share. The company beat expectations by 12.50% while revenue grew 34.72% on a year-over-year basis.
Twilio (TWLO) reported earnings of $0.86 per share on revenue of $1.08 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.58 per share on revenue of $1.04 billion. The Earnings Whisper number was $0.66 per share. The company beat expectations by 30.30% while revenue grew 5.01% on a year-over-year basis.The company said it expects first quarter non-GAAP earnings of $0.56 to $0.60 per share on revenue of $1.025 billion to $1.035 billion. The current consensus earnings estimate is $0.54 per share on revenue of $1.05 billion for the quarter ending March 31, 2024.
Shopify (SHOP) reported earnings of $0.34 per share on revenue of $2.14 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.31 per share on revenue of $2.08 billion. The Earnings Whisper number was $0.38 per share. The company missed expectations by 10.53% while revenue grew 23.58% on a year-over-year basis.
Upstart (UPST) reported a loss of $0.11 per share on revenue of $140.31 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.14 per share on revenue of $135.28 million. The Earnings Whisper number was a loss of $0.12 per share. The company beat expectations by 8.33% while revenue fell 4.49% compared to the same quarter a year ago.The company said it expects first quarter revenue of approximately $125.0 million. The current consensus revenue estimate is $141.18 million for the quarter ending March 31, 2024.
Airbnb (ABNB) reported earnings of $0.76 per share on revenue of $2.22 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.67 per share on revenue of $2.16 billion. The Earnings Whisper number was $0.72 per share. The company beat expectations by 5.56% while revenue grew 16.61% on a year-over-year basis.The company said in its shareholders letter it expects first quarter revenue of $2.03 billion to $2.075 billion. The current consensus revenue estimate is $2.03 billion for the quarter ending March 31, 2024.
Kratos Defense & Security Solutions (KTOS) reported earnings of $0.12 per share on revenue of $273.80 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.10 per share on revenue of $254.40 million. The Earnings Whisper number was $0.11 per share. The company beat expectations by 9.09% while revenue grew 9.83% on a year-over-year basis.The company said it expects first quarter revenue of $240.0 million to $260.0 million and 2024 revenue of $1.125 billion to $1.150 billion. The current consensus revenue estimate is $253.31 million for the quarter ending March 31, 2024 and revenue of $1.11 billion for the year ending December 31, 2024.
Pinterest (PINS) reported earnings of $0.53 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.51 per share on revenue of $988.18 million. The Earnings Whisper number was $0.56 per share. The company missed expectations by 5.36%.The company said it expects first quarter revenue of $690.0 million to $705.0 million. The current consensus revenue estimate is $699.58 million for the quarter ending March 31, 2024.
Roblox (RBLX) reported a loss of $0.52 per share on revenue of $749.94 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.57 per share on revenue of $1.07 billion. The Earnings Whisper number was a loss of $0.54 per share. The company beat expectations by 3.70% while revenue grew 29.52% on a year-over-year basis.The company said it expects first quarter bookings of $910.0 million to $940.0 million and 2024 bookings of $4.14 billion to $4.28 billion. The current consensus revenue estimate is $907.23 million for the quarter ending March 31, 2024 and $4.03 billion for the year ending December 31, 2024.
Walt Disney (DIS) reported earnings of $1.22 per share on revenue of $23.55 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.97 per share on revenue of $23.47 billion. The Earnings Whisper number was $1.07 per share. The company beat expectations by 14.02% while revenue grew 0.16% on a year-over-year basis.
PayPal (PYPL) reported earnings of $1.48 per share on revenue of $8.03 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.36 per share on revenue of $7.87 billion. The Earnings Whisper number was $1.40 per share. The company beat expectations by 5.71% while revenue grew 8.71% on a year-over-year basis. The company said it expects first quarter earnings of approximately $1.23 per share and 2024 earnings of approximately $5.10 per share. The current consensus estimate is earnings of $1.27 per share for the quarter ending March 31, 2024 and earnings of $5.49 per share for the year ending December 31, 2024.
BP Reports Q4 (Dec) earnings of $1.07 per share, $0.11 better than the FactSet Consensus of $0.96; revenues fell 24.7% year/year to $52.14 bln vs the $53.14 bln FactSet Consensus.Operating cash flow in the quarter of $9.4 billion includes a working capital* release (after adjusting for inventory holding losses, fair value accounting effects and other adjusting items) of $2.1 billion (see page 28).Capital expenditure in the fourth quarter was $4.7 billion and total 2023 capital expenditure, including inorganic capital expenditure* was $16.3 billion.Growing shareholder distributions: Dividend per ordinary share 7.270 cents per share +10% versus 4Q22; 4Q23 $1.75bn share buyback announced; committed to announcing $3.5bn share buyback for the first half of 2024
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $608.35 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.08 per share on revenue of $602.55 million. The Earnings Whisper number was $0.08 per share. The company reported in-line with expectations while revenue grew 19.61% on a year-over-year basis.The company said it expects first quarter revenue of $612.0 million to $616.0 million and 2024 revenue of $2.652 billion to $2.668 billion. The current consensus revenue estimate is $615.50 million for the quarter ending March 31, 2024 and revenue of $2.66 billion for the year ending December 31, 2024.
Amazon.com (AMZN) reported earnings of $1.00 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.81 per share on revenue of $166.04 billion. The Earnings Whisper number was $0.88 per share. The company beat expectations by 13.64%.The company said it expects first quarter revenue of $138.0 billion to $143.5 billion. The current consensus revenue estimate is $142.21 billion for the quarter ending March 31, 2024.
Meta Platforms (META) reported earnings of $5.33 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $4.82 per share on revenue of $38.82 billion. The Earnings Whisper number was $5.00 per share. The company beat expectations by 6.60%.The company said it expects first quarter revenue of $34.50 billion to $37.00 billion. The current consensus revenue estimate is $33.72 billion for the quarter ending March 31, 2024.
QUALCOMM (QCOM) reported earnings of $2.75 per share on revenue of $9.94 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $2.37 per share on revenue of $9.51 billion. The Earnings Whisper number was $2.45 per share. The company beat expectations by 12.24% while revenue grew 4.99% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of $2.20 to $2.40 per share on revenue of $8.90 billion to $9.70 billion. The current consensus earnings estimate is $2.25 per share on revenue of $9.29 billion for the quarter ending March 31, 2024.
Teradyne (TER) beats by $0.07, reports revs in-line; guides Q1 EPS below consensus, revs below consensus Reports Q4 (Dec) earnings of $0.79 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.72; revenues fell 8.4% year/year to $670.6 mln vs the $674.99 mln FactSet Consensus. Co issues downside guidance for Q1, sees EPS of $0.22-0.38, excluding non-recurring items, vs. $0.54 FactSet Consensus; sees Q1 revs of $540-590 mln vs. $625.49 mln FactSet Consensus."Looking into the new year, we expect low tester utilization will impact demand in the first half of the year but anticipate the full year Semiconductor test demand to incrementally improve from 2023. In Robotics, after expected seasonal weakness in Q1, we project consistent quarterly growth powered by new products, new applications and improvements in our global distribution channels."
Alphabet (GOOGL) reported earnings of $1.64 per share on revenue of $86.31 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.60 per share on revenue of $85.26 billion. The Earnings Whisper number was $1.68 per share. The company missed expectations by 2.38% while revenue grew 13.49% on a year-over-year basis.
Starbucks (SBUX) reported earnings of $0.90 per share on revenue of $9.43 billion for the fiscal first quarter ended December 2023. The consensus earnings estimate was $0.92 per share on revenue of $9.65 billion. The Earnings Whisper number was $0.95 per share. The company missed expectations by 5.26% while revenue grew 8.16% on a year-over-year basis.
Alaska Air Group (ALK) reported earnings of $0.30 per share on revenue of $2.55 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.18 per share on revenue of $2.55 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 100.00% while revenue grew 2.99% on a year-over-year basis.
Tesla (TSLA) reported earnings of $0.71 per share on for the fourth quarter ended December 2023. The consensus earnings estimate was $0.74 per share on revenue of $23.17 billion. The Earnings Whisper number was $0.77 per share. The company missed expectations by 7.79%
AT&T (T) reported earnings of $0.54 per share on revenue of $32.02 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $0.55 per share on revenue of $28.68 billion. The Earnings Whisper number was $0.57 per share. The company missed expectations by 5.26% while revenue grew 2.17% on a year-over-year basis.The company said it expects 2024 earnings of $2.15 to $2.25 per share, including items of $0.32 per share. The current consensus earnings estimate is $2.46 per share for the year ending December 31, 2024.
Netflix (NFLX) reported earnings of $2.11 per share on revenue of $8.83 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.20 per share on revenue of $8.71 billion. The Earnings Whisper number was $2.28 per share. The company missed expectations by 7.46% while revenue grew 12.49% on a year-over-year basis.The company said it expects first quarter earnings of approximately $4.49 per share on revenue of approximately $9.24 billion. The current consensus earnings estimate is $4.00 per share on revenue of $9.26 billion for the quarter ending March 31, 2024.
3M (MMM) reported earnings of $2.42 per share on revenue of $8.01 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $2.31 per share on revenue of $7.02 billion. The Earnings Whisper number was $2.35 per share. The company beat expectations by 2.98% while revenue fell 0.82% compared to the same quarter a year ago.The company said it expects 2024 earnings of $9.35 to $9.75 per share. The current consensus earnings estimate is $9.90 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.29 per share on revenue of $19.93 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $1.25 per share on revenue of $19.83 billion. The Earnings Whisper number was $1.30 per share. The company missed expectations by 0.77% while revenue grew 10.14% on a year-over-year basis.The company said it expects 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.00 billion. The current consensus earnings estimate is $5.40 per share on revenue of $79.32 billion for the year ending December 31, 2024.
DELL
3-1-24
94.66 (close 2-29-24 leap year)
122.10 (curr pre trade/ earnings gap)
Dell Technologies (NYSE: DELL)
SEC, nasdaq, ShortSqueeze
Finviz, StockTA, Stoxline,
Dividend History
Dell Technologies (DELL) reported earnings of $2.20 per share on revenue of $22.32 billion for the fiscal fourth quarter ended January 2024. The consensus earnings estimate was $1.74 per share on revenue of $22.16 billion. The Earnings Whisper number was $1.82 per share. The company beat expectations by 20.88% while revenue fell 10.87% compared to the same quarter a year ago.
The company said during its conference call it expects first-quarter non-GAAP earnings of $1.05 to $1.25 per share on revenue of $21.0 billion to $22.0 billion. The current consensus earnings estimate is $1.43 per share on revenue of $21.55 billion for the quarter ending April 30, 2024. The company said it expects fiscal 2025 non-GAAP earnings of $7.25 to $7.75 per share on revenue of $91.0 billion to $95.0 billion. The current consensus earnings estimate is $7.13 per share on revenue of $92.49 billion for the year ending January 31, 2025.
You should do that.
He will remember that forever!
That photo was taken on a state highway in Tennessee. Some other very cool cars were right behind me. There were about 3000 cars moving from city to city for the 5 day journey. Very cool. This year's HRPT is in Tennessee, Kentucky, Ohio and Indiana. I'm thinking of doing the Ohio and Indiana days - maybe take my 13 year old grandson with me.
OAG
Well, they're never completely "finished"........................
However, it took several months of small things and most of a summer to get the body work done and ready for paint. It was around the beginning of October, 2009 when I took it to the DMV for inspection and getting the operating title, registration and plates. So, somewhere around 6 months. The guy who started the project found they'd changed the laws on "home built" cars in his state and he couldn't register it there. So, I bought it unfinished from him, but a lot of work was already done and quite satisfactorily.
Choosing paint scheme and colors wasted a lot of time!!
2008 Jaguar Chili Red Mica with 2008 GM Panel Truck Tan.......
Of course I had to two tone the wheels, too..... and then add white walls!
Motor Trend Magazine featured my car in their cover art for the 2023 Hot Rod Power Tour. I was in the 2022 HRPT - 2600 miles round trip from Wisconsin to Tennessee, Alabama, Florida and Georgia. It was yet another Bucket List item. Here's the image they used:
OAG
Exactly! lol Like I said, Rivian has done the hard stuff already-
Apple just needs to slap their logo and maybe some Apple bells and whistles on it- work the marketing and Bada boom bada bing- instant success 😆
Zoom Video Forecasts High FCF Margins, Which Could Make the Stock a Takeover Candidate
Mark Hake, CFA
Wed, Feb 28, 2024, 6:00 AM MST5 min read
https://finance.yahoo.com/news/zoom-video-forecasts-high-fcf-130002796.html
Zoom Video Communications reported after hours on February 26 that its free cash flow (FCF) skyrocketed for the fiscal quarter ending Jan. 31, 2024. Although Zoom's sales were up 2.6% for the year, FCF rose 24.1% to $1,471.9 million.
That is almost $1.5 billion. It's up from $1,186.4 million in 2023. Zoom also said reported that Q4 FCF rose from $183.33 million to $332.685 million. That represents a huge gain of 81.5% in Q4 FCF over the prior year quarter.
As a result, Zoom has been stockpiling cash with as it is now a cash cow. That could make it a potential takeover candidate. This article will discuss these points.
Free Cash Flow Margins Rise
Zoom's results were also impressive due to its huge free cash flow (FCF) margins. This measures how much of its sales is converted into FCF. That is not only a measure of its profitability but also measures its efficiency in usage of cash.
For example, based on full year 2023 sales of $4.527 billion. Based on $1.472 billion in FCF, Zoom generated converted almost one-third of sales into free cash flow.
That was up from a 27% margin a year ago. Moreover, even during Q4 its FCF margin was high at 29%, up from 16.4% a year ago.
As a result, analysts can now confidently estimate its FCF and potentially derive an upside target price.
Guidance Shows It Could Continue
Zoom is one of the few tech companies that forecasts its own free cash flow for the year. That shows it has a good deal of confidence in its capabilities to be a cash cow.
For example, management said in the press release that it expects this year's FCF to be between $1.440 billion and $1.480 billion. But everyone knows that companies like to downplay expectations. So, the reality is that FCF could end up much higher.
For example, based on analysts' forecasts of $4.66 billion in revenue this year, FCF could hit $1.538 billion.,
This assumes that the company produces a steady 33% FCF margin throughout the year. Moreover, if margins rise just slightly to 34.5%, FCF could rise to over $1.6 billion, up from $1.5 billion in 2023.
What This Means for Investors
Free cash flow is what is left over after the company spends incoming cash flow on all its cash expenses. This includes not only operating cash costs, or burn, but also its R&D, capex spending and even inventory needs from net working capital flows.
As a result, this cash flow is free to be spent on shareholder value creation activities such as buybacks, dividends, net debt reduction and even acquisitions. Or it can just pile up on in the company's checking account and balance sheet.
The latter can make it attractive to a potential takeover target. For example, cash and marketable securities are now $6.95 billion or almost $7 billion, as of Jan. 31, 2024. That is up 58% from $4.4 billion last year.
This net cash works out to 36% or so of its $19.1 billion market capitalization prior to the release of the earnings. That, along with Zoom's huge FCF margins could end making this stock very attractive to a potential takeover bidder.
On top of this Zoom has been buying back its shares. That increases value for all remaining non-selling shareholders. For example, Zoom said its board had authorized a $1.5 billion stock buyback. That is about 7.8% of its present market value.
This is significant since it's the first since the quarter ending Oct. 2022 that Zoom has repurchased its own shares. It's also another indicator that the company has a high level of confidence in its ability to generate free cash flow
Target Price
Based on its huge FCF margin, we can derive a price target. For example, using a very conservative 6.0% FCF yield metric, ZM stock could be worth $25 billion.
This is seen by dividing our forecast of $1.538 billion in FCF this year by 6.0%. Dividing by 6.0% is also the same as multiplying by 16.667, since the inverse of 6% is 16.667 (i.e., 1/0.06 = 16.667). Therefore 1.528b x 16.667 equals $25.633 billion.
That is 34% over today's market cap of $19.12 billion. Just to be conservative, let's use $25 billion. That is a 30% potential increase in the stock price to $82.00 per share.
Moreover, using a 5.0% FCF yield (i.e., 20x FCF), sets a price target of over $30 billion (i.e., $1.538 billion x 20 = $30.766 billion. That leads to a price target of $101 per share as this is 61% over today's $19.12 billion market cap.
Analysts Agree
Some analysts have correctly seen Zoom's upside in the past. For example, AnaChart, is a new sell-side analyst tracking service that measures analysts' past performance.
The site shows that the average price target of 29 analysts covering ZM stock is $98.51 per share. That represents a potential upside of over 56% from the stock price today (before the earnings release).
One analyst in particular has been very good in predicting the moves in ZM stock. James Fish of Piper Sandler has met his price targets on the stock over 52% of time according to AnaChart.
The market will be anticipating his updated analysis of the stock after today's results.
The bottom line is that ZM stock looks very attractive here to value investors. This is based on its huge FCF margins, its cash buildup, the share buybacks, and the company's own forecasts of its free cash flow generation. That could also make it attractive to a potential takeover bidder who might want to gain control of this cash cow.
Apple never should have thought of an Electric vehicle when they can't even keep the battery in their phones charged. ;)
Why C3.ai Stock Rocketed Higher Thursday Morning
Danny Vena, The Motley Fool
Thu, Feb 29, 2024, 9:24 AM MST3 min read
https://finance.yahoo.com/news/why-c3-ai-stock-rocketed-162410723.html
Shares of C3.ai (NYSE: AI) moved sharply higher Thursday morning, soaring by as much as 26.4%. As of 10:40 a.m. ET, the stock was still up by 24.3%.
The catalyst for that surge was the quarterly report it delivered after the close Wednesday, which revealed that the artificial intelligence (AI) specialist may finally be tapping into the widening adoption of AI.
For its fiscal 2024 third quarter, which ended Jan 31, C3.ai generated revenue of $78.4 million, up 18% year over year. Subscription revenue grew even faster, up 23% to $70.4 million, accounting for 90% of the total. The results were further aided by the company's expanding gross profit margin of 58%, which edged higher from 56% in fiscal Q2.
Profits continued to be elusive. C3.ai booked a net loss of $72.6 million, resulting in an adjusted loss of $0.13 per share -- more than double its loss of $0.06 per share in the prior-year quarter.
To put those results into context, analysts' consensus estimates were calling for revenue of $76.1 million and a loss of $0.28 per share, so the company beat on both top and bottom lines.
Better days to come
C3.ai's results might not seem like much to celebrate, particularly given its worsening bottom-line losses. However, there are indications that better days could be coming as management increased its full-year guidance and investors let out a collective cheer.
The company cited the increasing number of new agreements it has signed with customers -- it inked 50 during the quarter, up 85% year over year. Of those, 29 were new pilots. Management expects these deals will translate into commercial revenue in the months and years to come.
For its fiscal 2024 fourth quarter, management forecasts revenue of between $82 million and $86 million, which would amount to growth of roughly 10% at the midpoint. For the full year, C3 is forecasting revenue of $306 million to $310 million, a year-over-year increase of about 15% at the midpoint. Most of that range tops analysts' consensus expectation for revenue of $306.2 million. However, as a result of its increasing investments, the company said its losses will continue, and it no longer expects to be profitable by the fiscal fourth quarter.
C3.ai still needs to show it can capitalize on the AI boom and turn a profit. Until it makes progress on those fronts, there are better AI stocks to choose from.
THIS BOARD IS FOR TRACKING STOCKS I FOLLOW, OWN, OR TRADE ONLY
Charts are repeated often, and changes are followed and tracked for MY own purpose.
What I post here is for me and truly meaningless to others. Think of it as one big sticky note for me to stay organized.
The Price listed on ANY post, is the PRICE PER SHARE AT THE TIME OF PAGE CREATION. Which can go back a long time.
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