Streetbeat News

Products Services

MPWR

MU

NVDA

QCOM

SOXX

KeyBanc Capital Markets' analyst John Vinh has updated his outlook on semiconductor stocks, becoming more bullish on Nvidia and others due to robust AI demand. Supply-chain checks indicate mixed results across the semiconductor industry, with AI-related demand remaining strong. Vinh's channel checks are most positive for Nvidia, Micron, Qualcomm, and Monolithic Power Systems, and he has adjusted price targets accordingly. The iShares Semiconductor ETF (SOXX) has seen a slight increase and a notable year-to-date gain.

Portfolio Pulse from Shanthi Rexaline

April 08, 2024 | 12:24 pm

SOTK

Sono-Tek Corporation (NASDAQ:SOTK) reported preliminary Q4 FY2024 revenue of $4.8M, a 30% increase YoY, and full-year sales of $19.7M, up 31% from FY2023. The company expects Q1 FY2025 sales to grow 35%-40% YoY. The equipment backlog grew 7% YoY to $9.1M. These results reflect strong orders and the delivery of large orders delayed by Covid-related supply chain issues. Sono-Tek anticipates continued growth in FY2025, supported by its critical technology in clean energy applications.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:21 pm

DGLY

Digital Ally, Inc. (NASDAQ:DGLY) has entered into a multi-year agreement with the Kansas City Chiefs to deploy its FirstVu PRO body cameras and QuickVu 24-bay docking stations at GEHA Field at Arrowhead Stadium. This partnership aims to enhance security and safety for staff and attendees, showcasing the application of Digital Ally's technology beyond law enforcement to include event security. The agreement includes the use of Digital Ally's EVO Web cloud platform for advanced security solutions.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:17 pm

INMB

INmune Bio Inc. (NASDAQ:INMB) presented data on INB03, a novel immunotherapy for high-risk breast cancer, at AACR 2024. INB03 targets soluble TNF to modulate immune checkpoints, enhancing therapeutic outcomes in HER2+ and triple-negative breast cancer (TNBC). Studies showed INB03, in combination with anti-HER2 and anti-PD1 therapies, reduced tumor growth and metastasis by altering immune cell behavior and decreasing immune checkpoint proteins. The company seeks partners to advance clinical development and expand its patent portfolio for INB03 in oncology.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:16 pm

PBM

Psyence Biomed's Australian subsidiary, Psyence Australia, has partnered with Fluence and iNGENū CRO to train research therapists for a Phase IIb psilocybin trial. This collaboration aims to advance the study and potential therapeutic applications of psilocybin.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:14 pm

FSM

Fortuna Silver Mines Inc. (NYSE:FSM) reported strong Q1 2024 gold and gold equivalent production, with gold production up 49% Y/Y and gold equivalent ounces up 20% Y/Y, despite a 32% Y/Y decline in silver production. The company operates mines in West Africa and Latin America, with significant production increases noted in the West Africa Region. Fortuna reiterated its FY24 production guidance for gold, silver, and gold equivalent ounces. FSM shares rose 1.91% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 08, 2024 | 12:13 pm

LOBO

LOBO EV Technologies Ltd. (NASDAQ:LOBO), an electric vehicle manufacturer, announced receiving support from the Xinwu District government in Jiangsu Province, China. This support includes factory spaces, land resources, talent acquisition, and tax incentives, aimed at fostering LOBO's growth. The announcement was made during a gala dinner celebrating LOBO's successful Nasdaq IPO. The company's strategic direction aligns with the local government's vision of transforming Wuxi into a global industrial technology hub. The global market for e-bikes, e-trikes, and e-scooters is expected to grow from $28 billion in 2023 to over $39 billion by 2028.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:13 pm

AMRC

Ameresco, Inc. (AMRC) has secured a $140 million contract to develop and construct a facility for the Sacramento Area Sewer District. This significant contract highlights Ameresco's growing influence in the renewable energy and infrastructure sector, potentially boosting its financial performance and market position.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:10 pm

PAPL

Pineapple Financial has announced a collaboration with Century 21 Leading Edge Realty to integrate its online mortgage application system. This partnership aims to streamline the mortgage application process for clients of Century 21 Leading Edge Realty by providing a more efficient, online-based system.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:08 pm

MCHP

TSM

Microchip Technology (NASDAQ:MCHP) has expanded its partnership with TSMC to enhance semiconductor manufacturing capacity, focusing on a specialized 40 nm process at Japan Advanced Semiconductor Manufacturing, Inc. (JASM), a TSMC subsidiary in Japan. This move is part of Microchip's strategy to increase supply chain resiliency, including boosting internal manufacturing capabilities and establishing geographical diversity. The partnership aims to support global customers across various markets such as automotive, industrial, and networking, ensuring reliable supply management and fostering long-term growth and innovation.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:07 pm