Streetbeat News

Revenues

VIRT

Over the last three months, 7 analysts have shared their evaluations of Virtu Financial (NASDAQ: VIRT), with ratings ranging from bullish to indifferent. Analysts have raised their 12-month price targets, with an average target of $23.1, up from $20.24. Key analysts from firms like UBS, Goldman Sachs, Citigroup, JP Morgan, B of A Securities, Piper Sandler, and Morgan Stanley have all raised their price targets. Virtu Financial has shown a revenue growth rate of 3.62% and a strong ROE of 4.37%, but faces challenges with a high debt-to-equity ratio of 4.79 and a net margin of 8.2%.

Portfolio Pulse from Benzinga Insights

July 01, 2024 | 2:00 pm

SPY

The ISM Manufacturing PMI for June came in at 48.5, below the estimated 49.2 and the prior 48.7, indicating a contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:00 pm

BA

SPR

Airbus SE has signed a binding term sheet with Spirit AeroSystems Holdings Inc for a potential acquisition of key production activities, including A350 fuselage sections and A220 components. The deal includes a $559 million compensation payment to Airbus and aims to stabilize supply chains for Airbus’s commercial aircraft programs. The agreement is part of a broader division of the supplier between Airbus and Boeing Co.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 1:49 pm

NVDA

SK Group, the parent company of Nvidia's chip supplier SK Hynix, plans to invest $56 billion in AI and semiconductor technology by 2026. This investment aims to enhance its supply chains and maintain its lead in the high-bandwidth memory (HBM) market, despite competition from Samsung and Micron.

Portfolio Pulse from Benzinga Neuro

July 01, 2024 | 1:35 pm

DTSS

FXI

Datasea has announced three new sales agreements totaling $61.7 million with Chinese subsidiaries. These agreements are expected to support revenue growth for its core AI-based businesses in fiscal year 2025. The deals include two agreements for 5G-AI communications and one for high-tech acoustic products.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 1:31 pm

ZK

ZEEKR Intelligent Technology Holding Limited (NASDAQ:ZK) shares are surging after the company reported strong delivery results for June 2024, with an 89% increase in vehicle deliveries compared to last year. Year-to-date deliveries have grown by 106%, and the company has entered new markets in Indonesia and Malaysia.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 1:23 pm

MMSI

Merit Medical Systems (NASDAQ:MMSI) has acquired assets from EndoGastric Solutions for $105 million, expanding its endoscopy portfolio. The acquisition is expected to add $30 million in annual revenue and impact Merit's 2024 financial guidance. Updated guidance includes a slight decrease in EPS and an increase in revenue projections.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 1:19 pm

CAMX

E

Eni S.p.A. (NYSE:E) has extended its long-term gas supply agreement with Vår Energi ASA, securing up to five billion cubic meters of gas between 2024 and 2036. Deliveries will be made to gas terminals in Germany, with pricing based on market terms. This deal follows a similar agreement with VNG, reinforcing Vår Energi's role as a key energy supplier in Europe. Eni also recently finalized a deal to sell its Alaskan assets to Hilcorp. Investors can gain exposure to Eni through The Advisors' Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:CAMX). Eni shares are up 1.14% premarket.

Portfolio Pulse from Lekha Gupta

July 01, 2024 | 1:12 pm

SCLX

Scilex Holding announced preliminary Q2 net sales between $15.8 million and $17.5 million, surpassing the estimated $13.209 million.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 1:10 pm

BA

Boeing has delivered the first CH-47F Block II Chinook to the U.S. Army, enhancing the aircraft's capabilities and sustainment. This modernization program is part of the Army's long-term strategy to improve its fleet.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 1:07 pm