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PKG

Packaging Corporation Of America (PKG) anticipates Q2 EPS of $2.07, below the estimated $2.22. The company cites strong orders in its Paper segment but expects lower volume due to maintenance at its International Falls, MN mill. Despite implementing price increases, average prices and mix may be slightly lower due to earlier index price decreases affecting contract triggers with some customers.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:20 pm

CHDN

EA

SOLUSD

Ian Cummings, a gaming veteran with experience at Electronic Arts, Zynga, and FanDuel, has led the development of Photo Finish LIVE, a play-to-earn virtual horse racing game under Third Time Entertainment. The game, which utilizes Solana blockchain for its NFTs, offers a new Web3 experience for horse racing enthusiasts, allowing players to race, breed, and stake horses. Cummings aims to attract a broad audience, leveraging his extensive background in gaming. The game has partnered with Churchill Downs, Inc. for a Virtual Kentucky Derby event, aiming for further growth and expansion, including a mobile app launch and obtaining a gambling license in more countries.

Portfolio Pulse from Chris Katje

April 22, 2024 | 8:18 pm

ABEO

Abeona Therapeutics announced that a recent letter they received did not identify any deficiencies related to clinical efficacy or clinical safety data in their Biologics License Application (BLA).

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:12 pm

ABEO

Abeona Therapeutics has announced its anticipation to complete and submit the requested CMC (Chemistry, Manufacturing, and Controls) information by Q3 2024. This step is crucial for advancing their therapeutic products through the regulatory approval process.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:07 pm

ABEO

Abeona Therapeutics received a Complete Response Letter (CRL) from the FDA for its BLA of pz-cel, a treatment for RDEB. The CRL requests additional CMC information but does not identify clinical efficacy or safety issues. No new clinical studies were requested. Abeona plans to submit the required CMC information by Q3 2024 and has scheduled a conference call to discuss the CRL details.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:06 pm

META

MSFT

Microsoft Corp. (NASDAQ:MSFT) and Meta Platforms Inc (NASDAQ:META) have announced a partnership to release a limited edition Meta Quest VR headset, inspired by Xbox. This collaboration includes a customized version of the Meta Quest 3, bundled with an Xbox controller and Game Pass, allowing for immediate access to gaming. The partnership aims to integrate Microsoft's gaming services with Meta's VR technology, marking a significant move in Microsoft's VR strategy despite past inconsistencies in the VR market.

Portfolio Pulse from Franca Quarneti

April 22, 2024 | 8:04 pm

CNXC

Concentrix Corporation (NASDAQ:CNXC) announced its rebranding from Concentrix + Webhelp to Concentrix, emphasizing its focus on people and clients with a new visual identity. The rebrand highlights the company's expanded capabilities in generative AI, digital solutions, and high-value services, positioning it to deliver integrated, end-to-end solutions. President and CEO Chris Caldwell emphasized the company's commitment to solving clients' business challenges with human-centered, tech-powered, and intelligence-fueled solutions.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:01 pm

BA

Boeing has announced a slower increase in the production and delivery rate of its 787 model due to supplier shortages of a few key parts, despite planning to steadily increase its rate to meet strong demand, according to a memo to South Carolina workers.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:54 pm

SPOT

Spotify Technology (NYSE:SPOT) is set to report Q1 financial results with analysts expecting revenue of over $3.9 billion and EPS of 78 cents. Key focuses include potential price increases for subscribers, the impact of Taylor Swift's new album, and the growth in audiobooks usage among subscribers. Analysts are generally bullish, with several raising their price targets for SPOT shares, citing the company's market leadership, upcoming price increases, and expanding audiobook offerings as positive indicators for future profitability and free cash flow generation.

Portfolio Pulse from Chris Katje

April 22, 2024 | 7:50 pm

AMZN

BofA Securities analyst Justin Post reiterated a Buy rating on Amazon (AMZN) with a $204 price target, expecting Q1 earnings to benefit from AWS, advertising, and retail innovation. Post forecasts Q1 revenue at $143 billion, with AWS expected to grow quarter-over-quarter by $545 million and 16% year-over-year, slightly above market expectations. He also adjusted Q2 revenue expectations to $149.9 billion due to U.S. dollar depreciation and seasonal sales events. The analyst highlights Amazon's Big Spring Sale and Prime Video ads as additional revenue drivers, suggesting room for multiple expansion despite a year-to-date increase in the forward P/S multiple.

Portfolio Pulse from Anusuya Lahiri

April 22, 2024 | 7:38 pm