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Revenues

CLW

Clearwater Paper has entered a definitive agreement to sell its tissue business to Sofidel America for $1.06 billion. The company expects net proceeds of approximately $850 million, which will be used to reduce debt and invest in growth initiatives. The transaction is expected to close in late 2024.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:12 am

ON

VWAGY

Onsemi has signed a multi-year deal with Volkswagen to supply silicon carbide-based solutions for their vehicle lineup. This includes an integrated module compatible with all vehicle categories. Volkswagen will also benefit from Onsemi's planned expansion of silicon carbide manufacturing in the Czech Republic.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:08 am

VSTO

Vista Outdoor reaffirmed its FY25 sales guidance of $2.665B-$2.775B, with Q1 sales expected to be $272M-$276M, significantly below the $674M estimate. The company also disclosed plans for a $50M share repurchase program for Revelyst.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:06 am

TFC

Truist Financial (NYSE:TFC) reported Q2 2024 adjusted EPS of $0.91, beating the $0.82 estimate. Sales were $5.018 billion, surpassing the $4.805 billion estimate. Despite beating estimates, both EPS and sales were down compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:06 am

GT

Goodyear Tire & Rubber Company (NASDAQ:GT) has agreed to sell its Off-the-Road (OTR) tire business to The Yokohama Rubber Company for $905 million in cash. The sale is part of Goodyear's broader transformation plan and is expected to close by early 2025. The proceeds will help reduce debt and support other initiatives.

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 9:55 am

BA

National Airlines has placed its first order for four Boeing 777 Freighters, aiming to expand its cargo fleet and enhance its global operations. This order highlights Boeing's dominance in the freighter market and its strong relationship with National Airlines.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 9:30 am

RYAAY

Ryanair expects 8% traffic growth in FY25, pending Boeing deliveries. Unit costs will rise modestly, and Q2 fares are expected to drop significantly compared to last summer. The final FY25 outcome is subject to various uncertainties, including Boeing delivery delays and geopolitical conflicts.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 9:29 am

SUZ

Suzano has successfully started operations at its new eucalyptus pulp mill in Brazil, the largest single production line globally. This $4.3 billion investment increases Suzano's production capacity by over 20% and supports sustainability initiatives.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:15 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) is developing a new AI chip, the B20, for the Chinese market to comply with U.S. export controls. This move follows tightened U.S. semiconductor export restrictions to China. Nvidia is collaborating with Inspur for the chip's distribution, aiming to counter competition from Huawei and Enflame. Despite sanctions, Nvidia's H20 chip is expected to sell over 1 million units in China this year, generating over $12 billion.

Portfolio Pulse from Benzinga Neuro

July 22, 2024 | 7:46 am

GT

Goodyear Tire & Rubber Company (NASDAQ:GT) has agreed to sell its Off-the-Road (OTR) tire business to Yokohama Rubber Company for $905 million in cash. The sale is part of Goodyear's strategic Goodyear Forward transformation plan. The transaction is expected to close by early 2025, subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 7:06 am