To The Moon

Some companies experienced roller coaster ride after the earnings release. You can find the stocks that rose or fell most in "Movers & Shakers" on Tiger Trade app.

1. $Block(SQ)$

Block stock rose 8% in extended trading after the payments company reported fourth-quarter revenue and gross profit that beat Wall Street's expectations.

Here’s how Block did versus consensus expectations:

Block posted $1.66 billion in gross profit, up 40% from a year ago. That beat Wall Street expectations of $1.53 billion. Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses.

2. $Beyond Meat, Inc.(BYND)$

Beyond Meat reported a narrower-than-expected loss and stronger sales than Wall Street anticipated for its fourth quarter. Shares of the company climbed 14% in after-hours trading.

Beyond is prioritizing becoming cash-flow positive above growing sales of its meat alternatives.  Its gross margins are expected to be in the low double digits and increase sequentially throughout the year.

Here’s what the company compared with what Wall Street was expecting, based on a survey of analysts:

CEO Ethan Brown said the company’s margins improved by 14 percentage points, helped by slimming down its co-manufacturing footprint and better management of production staffing levels.

Beyond is projecting its 2023 revenue will range from $375 million to $415 million, representing a drop of 1% to 10% in sales. Wall Street was expecting a wider range from $322 million to $496 million.

3. $NVIDIA Corp(NVDA)$

Nvidia announced its fiscal year 2023 quarterly report and rose 15% yesterday. 

Here’s how Nvidia did versus consensus expectations:

Since mid-2022, when Nvidia entered its downward cycle, investors have been trying to find signals of a cycle reversal in quarterly earnings reports. Now looking at the four quarterly reports, several indicators are signaling a new up cycle is coming.

In addition to the improvement of key data, ChatGPT's heat will help NVIDIA take off again.

4. $Grab Holdings(GRAB)$

Grab fell nearly 10% after its earnings. Grab’s revenue for the whole of 2022 and adjusted EBITDA for the second half of 2022 exceeded guidance.

Here’s how Grab did versus consensus expectations:

Grab expects 2023 revenue to come in between $2.20 billion and $2.30 billion.

The group’s adjusted EBITDA for the quarter was negative $111 million, down from a negative $305 million a year ago. Adjusted EBITDA shows a company’s profitability and removes various one-time, irregular, and non-recurring items from EBITDA.