Streetbeat News

Revenues

PBR

Petrobras has received an environmental license to increase oil production at the Buzios field. The company plans to lower its capital expenditures (Capex) in 2024 due to strategic changes in exploration and production (E&P) and delays in refining investments. Petrobras is also analyzing four potential mergers and acquisitions (M&A) in the renewables sector. The interim E&P director mentioned efforts to start the FPSO Almirante Tamandare early at the Buzios field. Despite lower Capex in 2024, the CFO stated that next year's Capex will be higher than this year's.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:30 pm

PBR

Petrobras' CEO emphasized the need to continue exploring the Pelotas Basin and acknowledged investor demands for dividends. The CFO announced that the FPSO vessel Almirante Tamandare is set to start production in 2025. A tax deal with the government was beneficial for Petrobras, and the capital reserve was used to pay dividends, which would have been difficult without the reserve.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:28 pm

BURU

Nuburu has been awarded an $849,989 NASA SBIR Phase II contract for a blue laser planetary and lunar management of electrical power project, with a completion date of August 7, 2026.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:20 pm

IOVA

Iovance Biotherapeutics Inc (NASDAQ:IOVA) reported better-than-expected second-quarter earnings and issued an optimistic outlook for 2024 and 2025. The company reported Q2 sales of $31.12 million, surpassing the consensus of $24.6 million, and an EPS loss of $(0.34), beating the consensus of $(0.35). Iovance expects significant revenue growth driven by its skin cancer cell therapy, Amtagvi, with projected revenues of $160-$165 million for 2024 and $450-$475 million for 2025. The stock surged 25.19% following the announcement.

Portfolio Pulse from Vandana Singh

August 09, 2024 | 3:20 pm

MCD

SBUX

YUM

YUMC

Yum China Holdings Inc. (NYSE:YUMC) reported a 4% revenue increase and a 12% rise in core operating profit for Q2, driven by AI deployment and new store formats. Despite economic headwinds, the company expanded aggressively, opening 401 new stores. Yum China's initiatives, including KCOFFEE and Pizza Hut WOW, boosted transaction volumes and operational efficiency. The company returned $249 million to shareholders through buybacks and dividends in Q2.

Portfolio Pulse from The Bamboo Works

August 09, 2024 | 3:13 pm

FTXR

GM

RPV

General Motors (GM) remains committed to its operations in China despite facing losses and competition from local brands. CFO Paul Jacobson emphasized the goal of achieving cash stability without external capital. GM reported a $104 million loss in China for Q2, but the stock has gained over 18% in the past year. Investors can also gain exposure to GM through ETFs like First Trust Nasdaq Transportation ETF (FTXR) and Invesco S&P 500 Pure Value ETF (RPV).

Portfolio Pulse from Nabaparna Bhattacharya

August 09, 2024 | 3:04 pm

BCHUSD

Bitcoin Cash (BCH) has seen a 5.61% price increase in the past 24 hours, reaching $346.44, despite a 13.0% loss over the past week. Trading volume has surged by 40.0%, and the circulating supply has slightly increased to 19.74 million. BCH's market cap is currently $6.84 billion, ranking it #16.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 3:03 pm

TONUSD

Toncoin (CRYPTO: TON) has seen a price increase of 4.36% in the past 24 hours, reaching $6.62. Over the past week, the coin has risen by over 2.0%. Trading volume has surged by 195.0%, and the circulating supply has increased by 0.52%, bringing the market cap to $16.68 billion, ranking it #9.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 3:02 pm

XRPUSD

XRP's price has fallen 4.97% to $0.58 over the past 24 hours, despite a 6.0% gain over the past week. Trading volume has increased by 42.0%, while the circulating supply has decreased by 1.33%. XRP's market cap is currently $32.54 billion, ranking it #7.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 3:01 pm

CRNC

Analysts have varied ratings for Cerence (NASDAQ:CRNC) over the last quarter, with all ratings being indifferent. The average 12-month price target has significantly decreased from $10.25 to $5.0. Analysts from Evercore ISI Group, Baird, and Goldman Sachs have all lowered their price targets for Cerence, reflecting a bearish sentiment. Cerence has faced a decline in revenue and struggles with profitability, as indicated by its negative net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 3:00 pm