Streetbeat News

Earnings

THC

Tenet Healthcare Corp (THC) shares rose after announcing a deal to sell three hospitals and related operations in South Carolina to Novant Health for approximately $2.4 billion in cash. The sale is expected to yield about $1.750 billion in after-tax proceeds, which Tenet plans to use primarily for debt retirement. The included facilities generated revenues of around $552 million in the last 12 months. Tenet will also sign a new 15-year contract with Conifer Health Solutions for revenue cycle management services. The transaction is expected to close in Q1 2024, and Tenet anticipates a pre-tax book gain of about $1.6 billion. THC's Q3 net operating income was $101 million with an adjusted EPS of $1.44, surpassing the consensus of $1.20. THC shares are up 4.92% at $61.00 in premarket trading.

Portfolio Pulse from Lekha Gupta

November 17, 2023 | 1:22 pm

AMAT

Applied Materials (AMAT) stock is trading lower following the release of their Q4 earnings. Additionally, the company is reportedly under a US criminal investigation for potentially circumventing export restrictions to China's SMIC, adding further pressure to the stock.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:19 pm

HUMA

Humacyte, Inc. (NASDAQ:HUMA) announced positive results from its Phase 2/3 clinical trial and real-world use of its Human Acellular Vessel (HAV) for treating vascular trauma at the VEITHsymposium. The HAV showed higher patency rates and lower rates of amputation and infection compared to synthetic grafts. Humacyte plans to file a BLA with the FDA for the HAV in vascular trauma during the current quarter. The trial results, including data from a humanitarian program in Ukraine, demonstrated the HAV's effectiveness and potential as an off-the-shelf solution for vascular injuries.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:07 pm

CHPT

CISS

SGBX

WLGS

ZTO

In Friday's pre-market session, several industrial stocks showed significant movement. WANG & LEE Group (WLGS) saw a notable increase of 97.0% to $0.79, while Safe & Green Holdings (SGBX) and C3is (CISS) also experienced gains. Conversely, ChargePoint Holdings (CHPT) and ZTO Express (ZTO) were among the stocks that declined, with CHPT dropping 30.0% to $2.19 after their Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 1:06 pm

AGIL

AKTS

AMAT

AMSWA

ATGL

CAMP

DLB

MRIN

WAVD

In Friday's pre-market session, several IT stocks showed significant movement. AgileThought (AGIL) and Marin Software (MRIN) were among the gainers, with shares rising 13.3% and 12.72%, respectively. Akoustis Technologies (AKTS) also gained after its Q1 earnings 4 days ago. On the losing side, CalAmp (CAMP) and Alpha Technology Group (ATGL) saw shares drop by 15.4% and 12.64%. American Software (AMSWA), WaveDancer (WAVD), Applied Materials (AMAT), and Dolby Laboratories (DLB) all fell post-earnings reports.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 1:06 pm

BAC

Bank of America Inc. (NYSE:BAC) shares increased by 0.88% in the current session, trading at $29.80, and have risen by 13.26% over the past month, despite a 20.13% decline over the past year. The stock's P/E ratio of 8.27, compared to the Banks industry average of 13.16, suggests it may be undervalued or expected to underperform its peers. Investors should consider the P/E ratio among other factors when evaluating the company's market performance.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 1:00 pm

YTRA

Yatra Online (NASDAQ:YTRA) reported Q2 earnings with an EPS of $-0.03, which was in line with estimates. However, revenue decreased by $7.22 million compared to the same period last year. The company's past earnings performance shows variability in EPS and revenue, with a notable drop in share price following the last quarter's earnings beat.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 12:40 pm

TWST

Twist Bioscience anticipates Q1 FY24 revenue to be between $67M-$68M, surpassing the consensus estimate of $62.98M. The company also projects a gross margin of approximately 38%-39% for the same period.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:38 pm

FMC

FMC Corporation has set new three-year rolling financial goals targeting 2026 revenues of $5.5B-$6.0B and adjusted EBITDA of $1.3B-$1.5B.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:37 pm

TWST

Twist Bioscience forecasts FY24 revenue to be between $285M-$290M, which is below the consensus estimate of $298.79M. The company also anticipates a gross margin of approximately 39%-40% for the same period.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:36 pm