Streetbeat News

Corporate Responsibility

LMNR

Limoneira Co (NASDAQ:LMNR) reported Q4 FY23 revenue of $41.4 million, a 4% increase, surpassing the consensus of $37.8 million. Agribusiness revenue increased, and the company sold approximately 550,000 cartons of fresh lemons. However, there was no avocado revenue, and the company reported an increased operating loss of $(9.7) million. Adjusted EBITDA loss improved to $(1.3) million, and adjusted EPS loss was in line with consensus. The company used $(15.9) million in net cash for operating activities and ended with $3.6 million in cash. LMNR expects challenges due to supply chain and inflation but projects increased lemon and avocado volumes in FY24. The company plans to sell non-strategic assets for expected proceeds of $50 million and has adjusted cash flow projections to $131 million over nine years. The Board is exploring strategic alternatives to maximize stockholder value. LMNR shares closed up 1.32% at $19.19.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 12:26 pm

AAPL

Beeper, a chat app developer, is facing constant disruptions from Apple Inc. (NASDAQ:AAPL), leading to a strategic shift. Beeper Mini, which aimed to bridge iMessage between iPhone and Android users, has been affected by Apple's interference, causing reputational damage for Beeper. As a response, Beeper is making its iMessage connection software open-source and focusing on long-term goals. This follows a series of service disruptions and calls for an antitrust investigation into Apple's actions against Beeper Mini.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 11:55 am

TTE

TotalEnergies SE (NYSE:TTE) has agreed to sell a 25.5% stake in the Seagreen offshore wind farm to PTTEP for £522 million ($689 million), valuing the project at $4.3 billion. The deal aligns with TTE's renewable business model and post-transaction, TTE will retain a 25.5% stake. Additionally, TTE and PTTEP signed an MoU to explore renewable energy development. The Seagreen wind farm has a capacity of 1,075 MW and can power over 1.6 million homes. The transaction is expected to close after regulatory approvals. TTE shares closed up 1.79% at $68.40.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 11:38 am

AAPL

META

MSFT

Microsoft Corporation (NASDAQ:MSFT) has discontinued its Windows mixed reality feature, which combined augmented and virtual reality technologies. The feature, introduced in 2017, is set to be removed in a future Windows release. This comes as competitors like Apple Inc. (NASDAQ:AAPL) and Meta Platforms Inc. (NASDAQ:META) advance in the mixed-reality market. Apple is expected to launch its Vision Pro headset in February next year, while Meta has released Quest 3 starting at $499.

Portfolio Pulse from Ananya Gairola

December 22, 2023 | 10:37 am

EU

enCore Energy has announced the resignation of CFO Ms. Mierkey. Dr. Dennis Stover has been named as the interim CFO. A search committee is in the advanced stages of selecting a new CFO, consisting of CEO Paul Goranson, Executive Chairman William Sheriff, and Audit Committee Chair William Harris.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:53 am

AENT

Alliance Entertainment has closed a new 3-year $120 million senior secured asset based credit facility with White Oak Commercial Finance, LLC. This facility replaces their previous arrangement with Bank of America and includes a revolving credit facility with an interest rate of 30-day SOFR plus 4.5%. The funds will be used to retire the existing credit facility, support working capital, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:19 am

DIS

TSLA

Walter Isaacson, biographer of Tesla CEO Elon Musk, commented on Musk's pervasive influence despite polarizing opinions. Isaacson appeared on CNBC's 'Squawk Box' discussing various topics, including Twitter's future and plagiarism in academia. He referenced a survey showing Warren Buffett as the only billionaire with a positive rating, while Musk scored zero, indicating a balance of supporters and detractors. Isaacson also mentioned John Oliver's critical segment on Musk, which acknowledged Musk's significant impact on society. Musk responded to Oliver's segment, criticizing his shift to 'wokeness'.

Portfolio Pulse from Ananya Gairola

December 22, 2023 | 5:32 am

TSLA

Elon Musk, a prominent supporter of Dogecoin, stated in an interview with Ark Funds CEO Cathie Wood that he doesn't spend much time thinking about cryptocurrency. Musk was asked about Bitcoin, which he discussed less than other topics. Cathie Wood emphasized the importance of rules-based cryptocurrencies like Bitcoin. Musk's comments are significant as Tesla Inc. previously added Bitcoin to its balance sheet, a move that validated the cryptocurrency. Musk also mentioned that X has obtained financial payment licenses in over half the states, with a goal to secure all states by mid-2024.

Portfolio Pulse from Chris Katje

December 22, 2023 | 12:34 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), advised against companies going public due to the legal burdens and the risk of constant lawsuits. In a conversation with Ark Invest CEO Cathie Wood, Musk emphasized the challenges of being a public company, including the pressure to deliver strong quarterly reports. He also discussed the potential of taking SpaceX public, suggesting it's not worth it until a stable revenue stream is established. Musk highlighted his success in private funding rounds and the benefits of having multiple investors for valuation and employee liquidity.

Portfolio Pulse from Chris Katje

December 21, 2023 | 11:50 pm

PLD

Prologis, Inc. (NYSE:PLD) has announced that Vice Chairman Gene Reilly will retire at the end of the year. Following his retirement, he will continue to serve as a senior advisor until April 2024.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:10 pm