Streetbeat News

Earnings

F

VFS

Vingroup's electric vehicle unit, VinFast Auto Ltd (NASDAQ:VFS), faces financial challenges with a $5.7 billion loss over the past three years amid global expansion efforts. Despite substantial capital injections from Vingroup and its affiliates, VinFast's reliance on sales to related entities and a downturn in global EV demand pose risks. Vingroup's stock has fallen 38% since VinFast's U.S. listing, and the company has recently sold assets to support VinFast, which has seen its shares plummet by 97% since its peak post-debut.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 7:59 pm

HS

SBUX

Coffee and cocoa bean prices are surging due to supply concerns, with New York cocoa futures reaching their highest levels since the 1960s. Extreme weather conditions, aging trees, and steady demand are driving prices up. Hershey Co (HS) and Starbucks Corp (SBUX) are facing higher operating costs, impacting their stock prices negatively. Hershey's stock is down over 5% in the last month, while Starbucks' stock has fallen more than 7%. The rise in commodity prices, including copper and gold, is also noted.

Portfolio Pulse from Aaron Bry

April 13, 2024 | 1:49 pm

SBEV

Splash Beverage Group, Inc. (SBEV) has acknowledged the going concern opinion in its 10-K filing but reaffirmed its commitment to sustainable growth and long-term success. Despite challenges with limited operating capital, the company remains confident in its business model and plans for aggressive growth and acquisitions. Management has been actively addressing financial concerns and has made significant progress in securing new business for its beverage brands.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 9:06 pm

KULR

KULR Tech Gr reported Q4 earnings with EPS of $(0.04), meeting analyst estimates, but missed revenue expectations with $2.33M against a $3.81M forecast. This represents a 28.74% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:58 pm

ARM

BKR

TSLA

Market volatility surged due to higher-than-expected inflation, spikes in oil and gold prices, and geopolitical tensions. The likelihood of a Federal Reserve rate cut in June has decreased significantly, while U.S. mortgage rates have risen. Consumer sentiment fell in April, and confidence in Tesla's CEO Elon Musk has declined. Ark Invest took a stake in OpenAI, and concerns about AI's future energy consumption were highlighted by Arm Holdings' CEO.

Portfolio Pulse from Piero Cingari

April 12, 2024 | 8:27 pm

RARE

Ultragenyx Pharmaceutical Inc. has rescheduled its conference call to discuss Phase 1/2 study results of GTX-102 for Angelman syndrome to April 15, 2024, at 8:00 a.m. ET. The call, which will present new clinical efficacy and safety data, coincides with the American Academy of Neurology Meeting. Presentation slides will be available on the company's website.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:23 pm

NFLX

Piper Sandler analyst Matt Farrell maintains a Neutral rating on Netflix Inc (NASDAQ:NFLX) but raises the price target from $550 to $600 ahead of Q1 earnings report on April 18. Elevated expectations follow a strong Q4, with focus on subscriber growth, advertising business scale, and margin expansion. Netflix's leadership in streaming is acknowledged, yet Farrell suggests a pullback might offer a better entry point.

Portfolio Pulse from Chris Katje

April 12, 2024 | 8:20 pm

KULR

KULR Technology Group, Inc. (NYSE:KULR) reported a significant revenue increase of 146% in 2023, reaching $9,830,166 from $3,994,634 in 2022, attributed to success in energy storage, battery transportation, and recycling sectors. Despite the revenue growth, the company experienced a net loss increase to $23,693,556, or $0.20 per share, and a decrease in cash position to $1,194,764. The company expanded its customer base, secured major contracts with H55 Inc., Nanoracks, Lockheed Martin, and a leading U.S. automaker, and received special permits from the U.S. Department of Transportation for its SafeX product suite.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:18 pm

AGX

ATI

ATLX

X

U.S. Steel and Nippon Steel are delaying their $14.1 billion deal due to political and regulatory challenges, with a potential extension into 2025. Atlas Lithium secures financing and supply agreements with key suppliers to major tech firms, aiming to accelerate production with a new plant in Brazil. ATI completes an expansion enhancing its specialty rolled products capabilities. Argan reports a 26% revenue increase in fiscal 2024, with optimistic outlooks despite some project losses.

Portfolio Pulse from austin@walkonholdings.com

April 12, 2024 | 8:14 pm

QMCO

Quantum Corporation (NASDAQ:QMCO) provided a business update including a Q4 2024 liquidity update, revealing $26.1M in cash and equivalents, $87.9M in term loan debt, and $26.6M in revolving credit borrowings. The company also reported a $4.1M interest expense for Q4. Quantum announced a transaction post-Q4, selling service inventory assets for $15M to pay down $12.3M in debt, aiming to improve financial flexibility. Additionally, Quantum completed a new ERP system implementation, expected to reduce capital expenditures and increase operational efficiencies. Quantum is working to avoid Nasdaq delisting, with a hearing scheduled for May 14, 2024. Marc E. Rothman will retire from the board by August 31, 2024, or the 2024 annual meeting date, with a search for a new director underway.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:10 pm