Streetbeat News

Earnings

WETH

Wetouch Technology Inc. (NASDAQ:WETH) preannounced its 2023 revenue of $39.71M, up from $37.92M in 2022, despite a slight decrease in net income from $8.73M to $8.31M. The company attributes its revenue growth to strategic partnerships and anticipates further increases in revenue and net income in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:27 pm

RUM

Rumble shares are trading lower, potentially continuing a downward trend following last week's Q4 earnings report.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:22 pm

BLDP

Ballard Power Systems Inc. (NASDAQ:BLDP) shares surged after announcing a record fuel cell engine order and a Long Term Supply Agreement with Solaris Bus & Coach for 1,000 engines through 2027. The deal includes supplying engines for European transit buses, consolidating existing orders, and providing after-market services. Ballard also received $54 million in investment tax credits from the U.S. IRS under the Inflation Reduction Act. Additionally, the company reported a 132% year-on-year sales growth for Q4, surpassing analyst expectations.

Portfolio Pulse from Lekha Gupta

April 01, 2024 | 2:06 pm

CARM

CARISMA Therapeutics (NASDAQ:CARM) reported Q4 earnings with losses of $(0.52) per share, surpassing the $(0.55) estimate. Quarterly sales reached $4.29M, exceeding the $2.90M estimate.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:05 pm

BMEA

Biomea Fusion (NASDAQ:BMEA) reported Q4 earnings with losses of $(0.98) per share, missing the consensus estimate of $(0.85) by 15.29%. This represents a 13.95% increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:04 pm

PRE

Prenetics Global (NASDAQ:PRE) reported Q4 earnings with an EPS of $-0.51, beating estimates by 32.0% against an expected $-0.75. However, revenue declined by $46.89 million from the same period last year. Despite missing EPS estimates in Q3 2023, the share price increased by 0.0% the following day. The company's revenue has been fluctuating over the past quarters, with a notable drop in the most recent quarter compared to Q4 2022.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:55 pm

RDI

Reading Intl (NASDAQ:RDI) reported Q4 earnings with an EPS of $-0.56, missing estimates by -44.0% and a revenue decrease of $1.89 million from the previous year. Despite past earnings misses, the company's share price increased by 1.0% the day after last quarter's earnings were announced.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:55 pm

NVDA

TSLA

Nvidia Corp (NVDA) has seen a significant rise in its stock, up 85% in Q1, driven by generative AI adoption, data center dominance, and product innovation. Tesla Inc (TSLA), on the other hand, faced a 20% decline due to production setbacks, leadership challenges, and analyst downgrades. Other Magnificent Seven stocks, including Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL/GOOG), Amazon (AMZN), and Meta Platforms (META), also experienced market movements, with AAPL and TSLA suffering double-digit declines.

Portfolio Pulse from Surbhi Jain

April 01, 2024 | 1:50 pm

BMEA

Biomea Fusion (NASDAQ:BMEA) reported Q4 earnings with an EPS of $-0.98, missing estimates by -15.0% and showing no revenue change from the previous year. Last quarter, despite beating EPS estimates, the stock dropped 8.0% the following day.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:50 pm

BMY

ZLAB

Bristol Myers Squibb (BMY) announced mixed results for two of its drugs. The Phase 3 YELLOWSTONE trial of Zeposia for Crohn’s disease did not meet its primary endpoint, while the KRYSTAL-12 study of Krazati for NSCLC met its primary and key secondary endpoints. Zai Lab (ZLAB) has exclusive rights to develop and commercialize adagrasib in Greater China.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 1:44 pm