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NOG

Northern Oil and Gas (NOG) provided preliminary production and capital expenditure guidance for 2024, forecasting full-year production between 115,000 – 120,000 boe per day, with oil production estimated at 70,000 – 73,000 bbl per day. The company plans to budget approximately $825 – $900 million in total capital expenditures, focusing on drilling, completion, acquisitions, and workover expenses. The budget allocation includes 50% for the Permian Basin, 35% for the Williston Basin, and 1% for the Appalachian Basin. NOG expects a slight decline in quarterly production in Q1 2024, with modest increases thereafter. The company also anticipates steady activity in the Williston and other assets, with reduced Appalachian natural gas activity due to lower prices.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:44 pm

PDFS

PDF Solutions projects H1'24 revenue to remain flat year-over-year, with a 20% revenue growth expected in H2'24. The forecast reflects short-term semiconductor industry weakness and long-term growth potential from distributed manufacturing, energy electrification, and AI.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:42 pm

ALRN

Aileron Therapeutics, Inc. (NASDAQ:ALRN) is hosting a virtual event to discuss LTI-03, its lead product candidate for treating Idiopathic Pulmonary Fibrosis (IPF), with pulmonary care experts. LTI-03, a novel Caveolin-1-related peptide, targets alveolar epithelial cell survival and inhibits profibrotic signaling, offering a potential new treatment option for IPF. The company expects to announce Phase 1b study topline data in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:40 pm

TXRH

Texas Roadhouse is set to increase its menu prices by approximately 2.2% in late March. This decision is part of the company's strategy to manage operational costs and maintain profitability.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:40 pm

PRLD

Prelude Therapeutics (PRLD) reported its FY23 financial results, showing an EPS of $(2.02) compared to $(2.44) YoY. The company has a cash runway into 2026 with $232.9M in cash and equivalents. Key 2024 objectives include advancing its SMARCA2 degrader and CDK9 inhibitor, with expected proof-of-concept data. A partnership with AbCellera aims to develop precision ADCs. R&D expenses increased to $103.4M, while G&A expenses decreased to $28.9M. The net loss was $121.8M or $2.02 per share.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:40 pm

WEST

Westrock Coffee anticipates its consolidated Adjusted EBITDA for fiscal 2024 to range between $60M-$80M, influenced by the start of operations at its new facility in Conway, Arkansas, and customer commercialization there. The company highlights the broad guidance range due to uncertainties in operational outcomes and external factors. It also notes the inability to provide a detailed reconciliation to GAAP net income due to unpredictable non-cash gains or losses.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:38 pm

ROKU

Roku Inc (NASDAQ:ROKU) reported Q4 financial results with a revenue of $984.42 million, up 14% YoY, beating Street estimates. EPS was a loss of 55 cents, also beating estimates. The company ended Q4 with 80 million active accounts and announced it added 10 million new accounts in 2023. Roku launched branded TVs in early 2023 and expects Q1 2024 revenue of $850 million with a net loss of $90 million. Shares fell 16% in after-hours trading.

Portfolio Pulse from Chris Katje

February 15, 2024 | 9:31 pm

ANGO

AngioDynamics, Inc. (ANGO) has sold its PICC and Midline product portfolios to Spectrum Vascular for up to $45 million in cash. This sale is part of AngioDynamics' strategy to optimize its product portfolio and focus on high-growth markets. The divested products contributed approximately $43.5 million in annual sales. Additionally, AngioDynamics has discontinued its radiofrequency ablation and Syntrax products, which contributed about $5.5 million in annual sales. The company expects the divestiture and discontinuations to be accretive to fiscal 2024 gross margin but slightly dilutive to adjusted earnings per share. AngioDynamics will provide updated fiscal 2024 guidance in its upcoming earnings call.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:30 pm

FTI

SHEL

TechnipFMC has been awarded a substantial contract by Shell for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI) project to utilize high-pressure subsea production systems rated up to 20,000 psi. This marks a significant advancement in subsea engineering and could set a new standard for deep-water exploration and production.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:27 pm

ROKU

Roku, Inc. (NASDAQ:ROKU) has surpassed significant milestones, reaching over 80 million active accounts and more than 100 billion streaming hours in 2023. The company's active account base in the U.S. now exceeds the combined subscribers of the six largest traditional pay-TV providers. Roku also launched its own line of TVs and expanded its TV licensing program. These achievements underscore Roku's position as a leading TV streaming platform, with the highest streaming hours in the U.S. and Mexico and the top-selling TV operating system in the U.S., Canada, and Mexico in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:27 pm