Kanzhun Limited (BZ) is expected to report solid first-quarter results driven by potential market share gains and favorable pricing trends. However, the long-term outlook for China’s employment market remains challenging due to a shrinking labor force and the increasing use of robots and automation. This raises concerns about the company’s long-term growth prospects, prompting a ‘Hold’ rating.
Music streaming giant Spotify (SPOT) reported impressive first-quarter 2024 earnings, surpassing market expectations. The company posted adjusted earnings per share of $1.05, significantly exceeding the Zacks Consensus Estimate of $0.63 and representing a 66.67% surprise. This is a notable improvement compared to the loss of $1.24 per share reported a year ago.
Amidst the erosion of trust in traditional institutions, Bitcoin has emerged as a compelling risk-off asset, offering unique properties that challenge the limitations of conventional safe havens. Its decentralized nature, scarcity, liquidity, and resilience in different economic environments underscore its potential to redefine portfolio construction and risk management strategies.
Analysts anticipate a modest decline in Annaly Capital Management’s (NLY) Q1 2024 earnings for distribution, scheduled for release after market close on Wednesday. Despite the anticipated downturn, optimism prevails due to the potential benefits of narrowing mortgage spreads for the mortgage REIT.
Annaly’s earnings per share (EPS) for distribution are estimated at $0.65, below the previous quarter’s $0.68 and the year-earlier period’s $0.81. However, the company has a history of exceeding Wall Street expectations, with 10 out of the past 12 quarterly earnings beating forecasts.
Rising mortgage rates and elevated inflation have led to revisions in Annaly’s Q1 2024 earnings estimates. While climbing mortgage rates may indicate slower prepayment speeds and increased servicing fees, they can also raise funding costs.
Analysts are cautious about the potential impact of a still-inverted Treasury yield curve and leverage risks. However, Annaly’s low risk to Treasury rates due to hedging through swaps provides some reassurance.
Anglo American has reduced its diamond production forecast for 2024 after a steep decline in output during the first quarter. The company’s De Beers unit now anticipates producing 26 million to 29 million carats this year, down from the previous estimate of 29 million to 32 million carats. The cost per carat is also projected to increase from $80 to $90. These adjustments primarily stem from high inventory levels in a sluggish market and a 23% year-over-year decrease in Q1 rough diamond production to 6.9 million carats.
Oppenheimer analyst Timothy Horan continues to recommend Verizon Communications Inc. (VZ) with an Outperform rating and a $48 price target. Horan highlights the company’s positive momentum driven by network upgrades, refreshed management, and improved go-to-market strategy. Verizon’s first-quarter results were impacted by January price increases affecting volumes. However, one-time expenses also contributed to the results, setting the stage for solid free cash flow (FCF) growth. Horan believes Verizon’s ARPA growth of 3.9% will continue, driven by pricing and the expansion of recurring revenue streams. While subscriber growth remains a priority, Horan expects tougher year-on-year comparisons in the second half. Despite trimming revenue estimates, Horan maintains his FCF estimates for 2024 and 2025. Verizon’s stock has gained 8% in the past 12 months and is available through ETFs such as DJD and FDL.
Gary Goodman has extended his multi-year contract with Lionsgate Television, continuing his role as Executive Vice President of Worldwide Production. Goodman has been with Lionsgate for 17 years and has overseen successful shows like “Mad Men,” “Orange is the New Black,” and “Nashville.” He will continue to lead the production of Lionsgate’s premium scripted series and oversee East Coast facilities in Yonkers, Atlanta, and Newark. Current projects include “BMF,” “P-Valley,” and “The Serpent Queen” for Starz, as well as “Mythic Quest,” “Acapulco,” and “Manhunt” for Apple TV+. He will also produce the upcoming prequels “Power: Origins” and “Spartacus,” as well as the comedy series “Dinks” for Amazon MGM Studios.
Get ready Phoenix, Pitbull, the legendary ‘Mr. Worldwide’, is bringing his electrifying ‘Party After Dark Tour’ to Maryvale in October. Joining the international star on stage at Talking Stick Resort Amphitheatre is the talented T-Pain. Tickets go on sale to the public on Friday, April 26 at 10 a.m. local time via LiveNation.com. Don’t miss out on the chance to experience the high-energy performance of Pitbull and T-Pain on October 4.
Content moderation has become increasingly important for businesses in the digital age, with social media platforms leading the charge. However, as the landscape evolves, so too do the challenges of content moderation. While artificial intelligence (AI) is playing an increasing role, human moderators remain essential to ensure effective content moderation. Alex Popken, a former trust and safety executive at Twitter, now vice president of trust and safety at WebPurify, discusses the challenges and opportunities of content moderation in the non-social media space, as well as the role of AI in this ever-evolving field.
Database software company MongoDB’s shares experienced a significant increase of 6% following a positive analyst report by Loop Capital. The upgrade to a Buy rating and the assignment of a price target of $415 indicate a potential 15% upside for the stock. This news suggests that the market views the company’s future prospects optimistically, as evidenced by the recent strong first-quarter results that surpassed expectations. However, it is important to note that MongoDB’s stock has historically exhibited volatility, with notable price fluctuations in the past year, including a gain of 16.5% on news of a strong quarter last year. Despite the recent gains, MongoDB’s stock remains below its 52-week high, providing investors with a potential entry point.
