Streetbeat News

Earnings

TSNDF

TerrAscend Corp. has raised its guidance for net revenue and adjusted EBITDA for the full year 2023 to at least $317 million and $63 million, respectively. This represents a 28% YoY growth in net revenue and 62% in Adjusted EBITDA. The company also expects gross margin to exceed 50% and positive free cash flow in the second half of the year. TerrAscend is hosting an investor day at the Toronto Stock Exchange on October 13.

Portfolio Pulse from Nina Zdinjak

October 13, 2023 | 1:55 pm

HUM

UNH

Shares of healthcare providers are trading higher in sympathy with UnitedHealth, which reported strong Q3 results and raised the bottom end of its 2023 EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:54 pm

UNH

UnitedHealth's shares are trading higher following the company's Q3 results, which exceeded expectations.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 1:53 pm

KFFB

Kentucky First Federal Bancorp (NASDAQ:KFFB) announced a quarterly cash dividend of $0.10 per share, payable on November 20, 2023. However, the company expects future dividends to be reduced due to a decline in the banks' earnings. The company is implementing strategies to emphasize core deposit relationships and shift more of the loan portfolio towards higher-earning loans. The board expects that if quarterly dividends continue in 2024, they will be limited to no more than five cents per share.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:52 pm

BLPH

BPTH

JPM

SASI

SECO

US stocks traded higher with the Dow Jones gaining over 200 points. JPMorgan Chase & Co reported better-than-expected earnings for Q3, with net revenue of $40.7 billion, up 21% Y/Y. Sigma Additive Solutions, Bio-Path Holdings, and Versus Systems saw significant stock increases. Outset Medical, Bellerophon Therapeutics, and Secoo Holding saw significant stock decreases.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 1:48 pm

BLK

DRPRF

GOOG

JPM

MSFT

NFLX

SAVA

TSM

UNH

WFC

The UK's Competition and Markets Authority has approved Microsoft's $69B acquisition of Activision Blizzard. Google is testing generative AI functionalities for its search tool. Cassava Sciences faces controversy over scientific misconduct allegations. Ford is struggling with UAW negotiations. EHang shares are trading higher after obtaining a certificate for its EH216-S UAV system. OpenAI is valued at $90B and is close to selling shares. TSMC is seeking permanent US approval for chip supplies. Netflix plans to launch 'Netflix House' experiences. The Kroger-Albertsons deal faces potential legal challenges. Boeing and Spirit AeroSystems are inspecting 737 Max aircraft defects. Wells Fargo, JPMorgan, Citigroup, BlackRock, and UnitedHealth reported Q3 earnings. Porsche records a 10% surge in deliveries for the first three quarters.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 1:48 pm

JPM

JPMorgan Chase reported strong Q3 earnings, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 1:44 pm

DIA

IWM

QQQ

SPY

Major indexes have risen due to strength in the financial sector, following the release of quarterly earnings from multiple US banks.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 1:43 pm

LendingClub Corp (LC) has released its preliminary Q3 results, reporting a revenue of $198-$200 million and a net income of $4-$5 million. The company also plans to cut its workforce by 14%, which is expected to result in annualized savings of $30-$35 million by Q2 2023. LC shares are trading higher by 6.59% in premarket trading.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 1:38 pm

BDC

Belden has lowered its Q3 revenue guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:35 pm