Streetbeat News

Products Services

SIMO

Silicon Motion Technology (SIMO) projects Q2 revenue to be between $199M-$208M, surpassing the $187.06M estimate, and raises its FY24 revenue forecast to $800M-$830M, above the $793.25M estimate. The company attributes this growth to scaling programs with flash maker customers and the adoption of its controller solutions by PC and smartphone OEMs for advanced applications like AI. Both GAAP and non-GAAP projections indicate significant year-over-year growth, with improvements in gross and operating margins expected.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:10 pm

AAPL

FXI

Apple CEO Tim Cook announced that iPhone sales have grown in mainland China, indicating a positive market response in a critical region for the company.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:54 pm

HRL

Hormel Foods has initiated a voluntary Class 1 recall for a limited number of PLANTERS 4 oz. Honey Roasted Peanuts and 8.75 oz. Deluxe Lightly Salted Mixed Nuts. These products were distributed to two retail locations across five states.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:22 pm

KIDS

OrthoPediatrics Corp. (NASDAQ:KIDS) announced receiving the FDA's "Breakthrough Device" designation for its eLLi Growing Rod System, aimed at treating Early Onset Scoliosis (EOS). This designation expedites the development and review of medical devices that offer more effective treatments for life-threatening or irreversibly debilitating diseases. The eLLi system provides a non-invasive means to extend growing rods with increased force, enhanced mechanical reliability, and superior distraction precision, addressing safety concerns of current technologies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:12 pm

NTDOY

Rumors about Nintendo's upcoming console, Switch 2, suggest it will feature adjustable clock speeds to enhance battery life, operating at higher speeds when docked and lower speeds when undocked. This aims to extend playtime and address overheating issues with a low RPM fan. Enhanced graphics in docked mode and compatibility with older controllers and games are also anticipated, alongside eagerly awaited game titles.

Portfolio Pulse from Franca Quarneti

May 02, 2024 | 9:12 pm

SXI

Standex expressed optimism about the long-term secular trends in its fast growth end markets, indicating a positive outlook for the company's future.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:05 pm

HSY

Hershey Co (HSY) is set to report Q1 earnings with expectations of $2.76 EPS and $3.112 billion in revenues. Despite a 30% decline over the past year, the stock is up 4.44% YTD. Hershey's ability to manage cocoa price inflation positions it well against competitors, potentially benefiting from expanded margins if cocoa prices revert. Technical analysis shows a bullish trend for HSY stock, despite some indicators suggesting potential overbought conditions. Analyst consensus rates HSY as Neutral with a price target suggesting a slight downside.

Portfolio Pulse from Surbhi Jain

May 02, 2024 | 9:05 pm

ENGN

enGene Holdings Inc. (NASDAQ:ENGN) announced its participation in the American Urology Association 2024 Annual Meeting to present details of its Phase 1/2 LEGEND study of EG-70, a non-viral gene therapy for BCG-unresponsive non-muscle invasive bladder cancer. The presentation will highlight EG-70's design, addressing challenges of other treatments, and share promising initial efficacy and safety data. Complete response rates in the Phase 1 subgroup showed 70% and 60% at three and six months, respectively, indicating potential for durable remissions without significant quality of life impairment.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:05 pm

QGEN

QIAGEN (NYSE:QGEN) announced the launch of QCI Secondary Analysis, a cloud-based SaaS solution for high-throughput secondary analysis of clinical next-generation sequencing (NGS) data. This service supports all QIAGEN QIAseq panels and integrates with QCI Interpret for scalable and customizable workflows in oncology and inherited disease applications. The solution aims to make NGS testing more accessible, especially for small- to mid-size labs, by simplifying the bioinformatics pipeline and minimizing resource investment.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:48 pm

AMGN

ARWR

RPRX

Arrowhead Pharmaceuticals, Inc. (ARWR) received a $50 million milestone payment from Royalty Pharma plc (RPRX) after completing enrollment for the Phase 3 trial of olpasiran, a drug developed in partnership with Amgen (AMGN). Arrowhead is eligible for up to an additional $485 million in milestone payments from Amgen and Royalty Pharma. Olpasiran, developed using Arrowhead's TRiMTM technology, aims to lower levels of lipoprotein(a), a risk factor for cardiovascular disease.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:39 pm