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VSTS

Vestis Corporation has revised its fiscal 2024 revenue growth outlook downwards to between (1)% and 0%, from a previous range of 4%-4.5%. The company also adjusted its EBITDA margin expectations to 12%-12.4%, down from 14.3%. These changes are part of Vestis's efforts to enhance cost efficiency, optimize logistics and merchandise, and restructure organizationally for accelerated growth. Despite these adjustments, Vestis remains optimistic about its free cash flow, expecting a conversion ratio to net income of 100% or more, with a focus on disciplined capital allocation and deleveraging.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:06 pm

NSIT

Insight Enterprises, Inc. (NSIT) announced the retirement of CFO Glynis Bryan, effective December 31, 2024. Bryan will transition to an advisory role after serving as CFO since 2007. The company has engaged an executive search firm to find her successor.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:06 pm

PDSB

PDS Biotech has announced the appointment of Stephan Toutain as its new Chief Operating Officer. This strategic move aims to strengthen the company's operational leadership as it advances its pipeline of immunotherapies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:06 pm

ALNY

Alnylam Pharmaceuticals has reiterated its financial guidance for the full year 2024, projecting combined net product revenues of $1.4B-$1.5B from its products ONPATTRO, AMVUTTRA, GIVLAARI, and OXLUMO. The company expects net product revenue growth of 13% to 21% versus 2023, at both reported FX rates and constant exchange rates (CER). Collaboration and royalty revenues are forecasted to be between $325M-$425M, with GAAP R&D and SG&A expenses projected at $1.9B-$2.05B, and non-GAAP expenses at $1.675B-$1.775B, excluding $225M-$275M in stock-based compensation.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:03 pm

TM

Toyota Motor Corp (NYSE:TM) has rebranded its California R&D office as the North American Hydrogen Headquarters (H2HQ), emphasizing its commitment to hydrogen fuel cell technology. The H2HQ will centralize Toyota's hydrogen projects, including R&D, commercialization, and sales. This move is part of Toyota's broader strategy to lead in zero-emission technology and diversify fuel options beyond battery electric vehicles, reflecting its belief in customer-driven transportation solutions.

Portfolio Pulse from Anan Ashraf

May 02, 2024 | 11:58 am

ORGN

Origin Materials has partnered with IMDvista to create the world's first commercial-scale PET cap and closure manufacturing system. This innovation aims to enhance recycling circularity by enabling mono-material containers, lighter packaging, and improved product shelf life.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:48 am

CGNX

Cognex Corporation's stock is trading higher following the announcement of their Q1 results, which exceeded expectations. Additionally, the company provided positive Q2 revenue guidance and announced the appointment of a new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:40 am

PACK

Ranpak Holdings announced its commitment to generating cash in 2024 and aims to achieve a leverage target of 3.0X or less. This strategic financial goal underscores the company's focus on improving its balance sheet and financial health.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:38 am

WBA

Walgreens and Boehringer Ingelheim have partnered to enhance diversity in clinical trials, focusing on obesity, overweight, and type 2 diabetes by using select Walgreens pharmacies as trial sites.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:17 am

PTON

Peloton shares are trading higher following the announcement of a CEO transition and a 15% reduction in global headcount.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:10 am