Streetbeat News

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AAPL

GOOGL

IYW

VGT

Apple Inc. (NASDAQ:AAPL) shares are trading higher in the premarket session on Monday due to record-breaking annual sales in India, nearing $8 billion. This growth highlights Apple's expanding presence in India, where it has increased local assembly and opened flagship stores. Morgan Stanley has raised its price target for Apple from $216 to $273. Investors can also gain exposure to Apple via Vanguard Information Technology ETF (NYSE:VGT) and IShares U.S. Technology ETF (NYSE:IYW).

Portfolio Pulse from Shivani Kumaresan

July 15, 2024 | 11:09 am

ANIP

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) has launched its FDA-approved generic L-Glutamine Oral Powder, targeting $20.1 million in annual sales. This product is the first AA-rated generic version of Endari®.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:05 am

BLK

FDFF

SCHD

BlackRock, Inc. (NYSE:BLK) reported its Q2 FY24 earnings with an 8% Y/Y revenue growth to $4.805 billion, missing the consensus of $4.849 billion. The company saw record inflows, driven by private markets and ETFs, and reported a 12% Y/Y increase in adjusted EPS to $10.36, beating the consensus of $9.93. BlackRock's total AUM rose to $10.6 trillion. The company also announced acquisitions of Global Infrastructure Partners and Preqin.

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 11:03 am

CRGO

Freightos Limited (NASDAQ:CRGO) reported a 31% increase in Gross Booking Value (GBV) and a 32% increase in transactions for Q2 2024, surpassing management's expectations. The company expanded its carrier network and saw a rise in unique buyer users.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:03 am

AGI

Alamos Gold Inc. (NYSE:AGI) has entered into a $116 million gold sale prepayment agreement to eliminate a significant portion of Argonaut Gold's hedge book, increasing its exposure to rising gold prices. The deal involves the delivery of 49,384 ounces of gold in 2025.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:00 am

BABA

BIDU

BILI

NIO

PDD

XPEV

Alibaba and other Chinese tech and EV stocks, including NIO, XPeng, and Li Auto, are trading lower after China's Q2 economic growth missed expectations. The economy grew by 4.7%, below the 5.1% forecast, with a property downturn and job insecurity stalling recovery. Analysts expect more policy easing to counteract the slowdown.

Portfolio Pulse from Anusuya Lahiri

July 15, 2024 | 10:59 am

Ryder System, Inc. (NYSE:R) is set to acquire Pit Stop Fleet Service, enhancing its Torque by Ryder™ retail mobile maintenance business. The acquisition is expected to add $24 million in gross revenue by 2025 and provide incremental growth to Ryder's earnings.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:57 am

Reliance, Inc. (NYSE:RS) announced an agreement to acquire certain assets of FerrouSouth, a division of Ferragon Corporation. FerrouSouth specializes in flat-rolled steel processing and logistics services. The transaction is expected to close within 30 days, with annual net sales for the acquired operations around $15 million.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:51 am

SEDG

SolarEdge Technologies is reducing its workforce by approximately 400 employees, including 200 in Israel, due to market downturns and excess inventory. The company is also cutting discretionary spending. The solar industry downturn, particularly in Europe, and slower-than-expected PV installation rates are impacting the business. However, there is slight growth in North American installation rates, and the company is ramping up US manufacturing capacity.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:50 am

AUMN

Golden Minerals Company has completed the $2.5M sale of its Velardeña Mine but is awaiting full payment for its Durango assets. The company has received partial payments for the Durango assets and expects to negotiate an extension for the remaining amount.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:47 am