Streetbeat News

Revenues

CRMD

Cormedix reported its Q2 2024 financial results with a GAAP EPS of $(0.25), which was in line with expectations. However, the company missed its sales estimate, reporting $806.119K compared to the expected $1.674M.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:47 am

GLBE

Global-E Online shares are trading lower after the company reported Q2 financial results and issued Q3 revenue guidance below estimates. Additionally, the company cut its FY24 revenue guidance with its midpoint below estimates.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:44 am

ARCO

Arcos Dorados Holdings (NYSE:ARCO) reported Q2 earnings per share of $0.13, meeting analyst expectations. The company achieved quarterly sales of $1.11 billion, surpassing the $1.06 billion estimate and marking a 6.72% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:34 am

SPHR

Sphere Entertainment (NYSE:SPHR) reported Q4 sales of $273.4 million, beating the analyst consensus estimate of $271.315 million by 0.77%. This represents a 111.77% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:32 am

BKKT

Bakkt has lowered its FY24 crypto revenue guidance from $3.00B-4.45B to $2.57B-2.83B. The company expects net loyalty revenues of $53M–$57M and gross crypto revenues of $2.515B-$2.770B. Operating expenses excluding certain costs are projected to be $157M-$162M. Net cash used in operating activities is expected to be ($72M)–($79M), with free cash flow usage of ($79M)–($86M). End-of-year available cash is projected to be $35M–$42M.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:31 am

ALBT

Avalon GloboCare Corp. (NASDAQ:ALBT) announced that Laboratory Services MSO, LLC, in which Avalon holds a 40% interest, has begun manufacturing the GeeWhiz External Condom Catheter, an FDA-registered male incontinence device. The product is set to launch in Q3 2024. The global male urinary incontinence market is expected to grow significantly. Avalon has also launched a DNA test for opioid dependence and extended a distribution agreement for a breathalyzer device.

Portfolio Pulse from Vandana Singh

August 14, 2024 | 11:30 am

SACH

Sachem Capital (AMEX:SACH) reported a significant earnings miss for Q2, with EPS of $(0.09) falling short of the $0.10 estimate by 190%. Sales also missed expectations, coming in at $15.15M versus the $16.25M estimate, marking a 7.97% decline from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:21 am

IGMS

IGM Biosciences reported cash and investments of $256.4M as of June 30, 2024. The company expects to end 2024 with approximately $180M in cash and investments, which should fund its operating expenses into Q2 2026.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:21 am

ACHL

Achilles Therapeutics reported a Q2 2024 GAAP EPS of $(0.41), which is in line with expectations. The company has a cash position of $95.1 million, which is expected to support operations through 2025.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:17 am

DIA

GLD

QQQ

SPY

U.S. stock markets rose to a nearly two-week high due to softer producer prices, increasing expectations of a Federal Reserve rate cut in September. Key consumer price data and retail sales figures are now in focus. The S&P 500 saw gains in communication services, tech, and consumer discretionary sectors, while energy stocks fell. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher. Asian markets showed mixed results, with Japan and Australia rising, while China and Hong Kong declined. European markets and commodities like gold and crude oil also saw gains.

Portfolio Pulse from Akanksha Bakshi

August 14, 2024 | 11:16 am