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GVA

Granite Construction (NYSE:GVA) is expanding its presence in the Inland Empire, California, by opening a new office in Ontario. This move is part of Granite's strategy to strengthen its market position and support regional growth. The company aims to enhance local infrastructure, foster client relationships, and participate in upcoming projects. Granite's commitment is highlighted by its involvement in significant projects like the $25 million Hub at Ontario, set to begin in June 2024, and its focus on local hiring and community contribution.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:37 pm

UMAC

Unusual Machines, Inc. (NYSE:UMAC) has formalized Allan Evans as CEO for two years, following significant corporate developments including NYSE American listing, acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings, reincorporation in Nevada, and joining the Red Cat Futures Initiative. The company is focusing on U.S.-based drone component production compliant with NDAA, aiming for a U.S.-made flight controller for FPV drones by Q2 2024 for Blue UAS certification. Leadership changes and the appointment of Salberg & Company as the new audit firm were also announced.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:31 pm

SPCE

Virgin Galactic Holdings, Inc. (NASDAQ:SPCE) reported Q1 financial results with losses of 25 cents per share, beating analyst estimates of 29 cents losses. Quarterly sales were $2 million, surpassing estimates of $1.92 million and marking a 410.2% increase from the previous year. The company's Arizona spaceship assembly facility is on track for a summer 2024 opening, with Delta Class spaceship production scheduled for 2026. CEO Michael Colglazier highlighted the progress towards the 'Galactic 07' mission and the Delta Class program. Q2 revenue is expected to be around $3.5 million, with free cash flow between negative $110 million to negative $120 million. After-hours, SPCE shares dropped 4.85% to 96 cents.

Portfolio Pulse from Erica Kollmann

May 07, 2024 | 9:31 pm

QGEN

Qiagen (NYSE:QGEN) has entered into a cooperative research and development agreement with the FBI to develop a novel digital PCR assay for its QIAcuity devices, aimed at enhancing forensic DNA quantification. This first-of-its-kind assay will improve the accuracy of DNA analysis in forensic samples, including those with minimal DNA amounts or compromised by environmental factors. The collaboration will leverage dPCR technology to quantify nuclear and mitochondrial DNA, male DNA, and assess sample quality, significantly benefiting forensic analysis and next-generation sequencing.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:17 pm

LSAK

Lesaka Technologies, Inc. (LSAK) has announced the acquisition of Adumo for approximately $85.9 million, to be settled with 17,279,803 shares of Lesaka common stock and $12.5 million in cash. The acquisition aims to strengthen Lesaka's position in the Southern African fintech market, expanding its ecosystem to serve 1.7 million consumers and 119,000 merchants. The deal, expected to close in Q3 2024, is subject to shareholder and regulatory approvals. Adumo's operations will enhance Lesaka's product offerings in card acquiring, integrated payments, and SaaS solutions, particularly in the hospitality sector.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:14 pm

GPRO

GoPro has revised its Q2 2024 revenue forecast to approximately $170 million, a 29% decrease from the previous year, missing the estimated $225.753 million. The reduction is attributed to the delayed launch of a new entry-level camera to Q3 and a new 360 camera to late Q4, impacting 2024 revenue by $65 to $85 million.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:08 pm

GPRO

GoPro has announced that its new flagship HERO camera, along with all of its performance enhancements, is on track for its scheduled launch later this year. This news reaffirms the company's commitment to innovation and its timeline for bringing new products to market.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:04 pm

GPRO

GoPro announced the delay of its new entry-level camera launch from Q2 to Q3 in 2024, and its new 360 camera will now launch in late Q4 of the same year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:00 pm

GOOGL

Alphabet Inc (NASDAQ:GOOGL) is launching a new cybersecurity tool, Google Threat Intelligence, utilizing generative AI to enhance cybersecurity. The tool integrates Google's Mandiant cybersecurity unit and VirusTotal with the Gemini AI model for rapid malware reverse engineering and summarizing threat reports. This initiative aims to provide a comprehensive network for monitoring threats and assessing security vulnerabilities in AI projects, leveraging Mandiant's threat detection expertise and VirusTotal's community-contributed threat indicators.

Portfolio Pulse from Franca Quarneti

May 07, 2024 | 8:58 pm

IRBT

iRobot Corp. (NASDAQ:IRBT) has appointed Gary Cohen as its new CEO, effective immediately. Cohen brings over 25 years of executive leadership and experience in turning around companies. He aims to lead iRobot towards profitability following its recent operational restructuring. Cohen's background includes significant roles at Gillette, Timex, Energizer, and Qualitor Automotive, where he has successfully driven growth and operational efficiencies. His appointment is part of iRobot's strategy to re-orient its business towards innovation, product and commercial strategies, and operational excellence.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:51 pm