Streetbeat News

Revenues

RTX

SAVE

Spirit Airlines expects to receive AOG credits from Pratt & Whitney amounting to $37M in Q2 2024, enhancing liquidity by $150M-$200M for FY24. Additionally, $52M will be recorded as a reduction in cost of assets on the company's balance sheet in Q2.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:31 pm

SAVE

Spirit Airlines (SAVE) has revised its Q2 2024 revenue estimate to $1.28 billion, down from $1.33 billion, primarily due to lower non-ticket revenue. The company also reported that non-ticket revenue per passenger segment will be about $64, lower than anticipated. Spirit is executing a transformation plan to align with market dynamics and expects future revenue improvements. Additionally, Spirit has an agreement with International Aero Engines, LLC for monthly credits due to engine issues, which have benefited liquidity by $94 million year-to-date. The adjusted operating margin for Q2 2024 is estimated to be between -13.5% and -12.5%.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:29 pm

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrency markets are trading higher with notable gains in Bitcoin, Ethereum, and Dogecoin. Long liquidations have spiked, and Bitcoin open interest has surged. Ethereum ETFs are expected to attract significant inflows. Analysts predict potential explosive growth in September/October if historical patterns repeat.

Portfolio Pulse from Khyathi Dalal

July 16, 2024 | 8:24 pm

SPY

UNH

XRT

Retail sales exceeded estimates, boosting market sentiment. UnitedHealth saw a significant surge following strong earnings. The Republican National Convention is set to resume tonight.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:20 pm

RLAY

Relay Therapeutics has received a notice of termination from Genentech for their collaboration and license agreement. Relay had received $121.8M from Genentech, including $75M upfront and $45M in milestones. The agreement, which involved the development of Migoprotafib (GDC-1971), will be terminated in 180 days with no further payments or obligations after the termination date.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:19 pm

KLXE

KLX Energy Services (KLXE) announced preliminary Q2 revenue estimates of $178M-$182M, representing a sequential increase of approximately 3%.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:18 pm

PRIM

Primoris Services has secured $1.2 billion in awards for its energy segment, including $700 million contracted in Q2 2024 and over $500 million in early Q3 2024. The projects include $1.1 billion for utility-scale solar engineering, procurement, and construction, and $100 million for the expansion of combustion gas turbine generators.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:11 pm

PKE

Park Aerospace (NYSE:PKE) reported a 25% decrease in Q1 EPS to $0.09 from $0.12 YoY, and a 10.17% decrease in sales to $13.97M from $15.55M YoY.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:11 pm

AEHR

Aehr Test Systems announced $12.7 million in orders for its FOX WaferPak full wafer contactors, indicating strong demand for its semiconductor testing solutions.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:11 pm

AEHR

Aehr Test Systems shares are trading higher following the release of better-than-expected Q4 financial results and FY25 revenue guidance that surpassed estimates.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:10 pm