Streetbeat News

Earnings

HURN

Huron Consulting's shares dropped following the announcement of Q4 sales results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:52 pm

AYURF

Ayurcann Holdings Corp. reported an 81% increase in Q2 net revenue to CA$5.8 million, with a net loss growing to CA$771,622. The company, focusing on derivative cannabis products, expanded its product range in Canada. Despite higher revenues, expenses rose to CA$2.7 million, and gross margin decreased to 37%. For the first half of fiscal 2024, net revenue was CA$12.3 million, with a slight reduction in net loss to CA$951,267. Ayurcann plans to launch new products and acquire cannabis brands, indicating growth and expansion efforts.

Portfolio Pulse from Jelena Martinovic

February 28, 2024 | 6:51 pm

GSAT

Globalstar's stock is trading lower following the announcement of disappointing Q4 sales results and a forecast for FY24 total revenue that falls short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:45 pm

PLNH

Planet 13 Holdings Inc. (OTCQX:PLNH) reported a significant reduction in net loss by over 60% and achieved positive EBITDA in Q4 2023 despite a 7.5% drop in revenue and industry challenges. The company highlighted its acquisition of VidaCann and expansion in Illinois as key growth strategies. Shares of Planet 13 traded 2.1132% higher at $0.72 following the announcement.

Portfolio Pulse from Jelena Martinovic

February 28, 2024 | 6:43 pm

AAPL

Bank of America maintains a Buy rating on Apple Inc. (NASDAQ:AAPL), highlighting customer loyalty to the iPhone and potential high uptake of upcoming models and the Vision Pro VR headset. Despite the enthusiasm, the $3,499 price tag for the Vision Pro is seen as too high by many, with a survey indicating a preferred price point of $2,090. Apple's installed base of active devices has surpassed 2.2 billion, reaching a record high, and its services division reported all-time high revenues. Apple shares were up 0.7% at $181.29 in midday trade on Wednesday.

Portfolio Pulse from Neil Dennis

February 28, 2024 | 6:42 pm

F

LCID

LI

RIVN

TSLA

WKSP

Li Auto, Rivian, and Lucid reported their latest earnings with mixed results. Li Auto's shares surged over 25% after reporting a profit, a first among China's EV startups. Rivian and Lucid saw their shares fall due to stagnant production. Worksport Ltd announced it will present at the Centurion One 7th Annual Growth Conference, highlighting its solar-powered tonneau cover and partnership with Ford's F-150 Lightning. The EV market faces challenges from macroeconomic and geopolitical uncertainties.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 6:30 pm

TREE

Keefe, Bruyette & Woods analyst Ryan Tomasello upgraded LendingTree, Inc. (NASDAQ:TREE) to Outperform from Market Perform, raising the price target to $45 from $24, citing growth in the insurance segment and SEM advertising. Tomasello forecasts a 2024 earnings recovery, led by 30-40% Y/Y growth in the insurance segment and continued double-digit growth into 2025. The company is also expected to efficiently address its convert maturity in 1H24 and is well-positioned for a multi-year growth cycle. Tomasello raised the FY24 EPS estimate to $2.04 from $1.56. TREE shares rose 8.4% to $35.37.

Portfolio Pulse from Nabaparna Bhattacharya

February 28, 2024 | 6:30 pm

LFST

LifeStance Health's shares surged following the announcement of Q4 sales results that exceeded expectations, along with the issuance of future guidance.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:26 pm

PLUG

Truist Securities analyst Jordan Levy maintained a Hold rating on Plug Power Inc. (NASDAQ:PLUG) but raised the price forecast from $3 to $4. Despite a 30% surge in shares post-annual update, Levy highlights ongoing challenges such as cash burn and margin headwinds. The analyst is skeptical about significant improvements in the near term, noting a big cash burn expected in Q4 and minimal impact from a new H2 infrastructure deal with Uline. Fuel margins are expected to improve throughout the year, but electrolyzer sales are forecasted to drop by 40% in Q4 2023.

Portfolio Pulse from Nabaparna Bhattacharya

February 28, 2024 | 6:25 pm

TGTX

TG Therapeutics Inc (NASDAQ:TGTX) reported Q4 2023 revenues of $43.97 million, surpassing the consensus of $40.06 million, driven by strong Briumvi U.S. net product revenue of $39.9 million. The company received European Commission approval for Briumvi, partnering with Neuraxpharm for ex-U.S. commercialization. With the successful launch of Briumvi in Europe and additional patents extending protection through 2042, TG Therapeutics forecasts FY 2024 Briumvi U.S. net product revenue of $220 million to $260 million. Shares surged 26.4% to $17.58.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 6:20 pm