Streetbeat News

Revenues

RIVN

Rivian projects Q2 vehicle production of 9.1K-9.3K, below estimates of 10.29K, but Q2 deliveries are expected to be 13K-13.3K, above estimates of 10.24K. The company plans $2.5B+ in capex reductions from 2023-2025, expects a 45% material cost reduction from R1 Gen 2 to R2, and targets the R2 launch in 2026. Rivian reaffirms its 2024 guidance of 57K units produced and aims for a 10% long-term free cash flow margin and high-teens adjusted EBITDA margin.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:00 pm

FFNTF

4Front Ventures Corp. (OTCQX: FFNTF) announced a broker offering to raise up to $3.65 million. The funds will be used for equipment, inventory, cultivation inputs, retail licenses, and new retail locations. The offering is expected to close around July 10, 2024, pending regulatory approvals.

Portfolio Pulse from Jelena Martinovic

June 27, 2024 | 12:59 pm

BYND

MCD

McDonald's (NYSE:MCD) confirmed that its plant-based meat options in the U.S. were unsuccessful, with customers preferring chicken over plant-based proteins. The McPlant burger trial did not meet expectations, and McDonald's is now focusing on expanding its chicken offerings. Beyond Meat Inc. (NASDAQ:BYND) partnered with McDonald's for the McPlant burger.

Portfolio Pulse from Shivani Kumaresan

June 27, 2024 | 12:57 pm

XYLO

Xylo Technologies shares are trading higher after the company announced it received its first commercial order for the deployment of its wireless charging system designed for automatic parking facilities.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:52 pm

TH

Target Hospitality shares are trading higher after the company announced that its Special Committee is reviewing TDR's $10.80 per share proposal. Despite cutting its FY24 revenue guidance, the company expects to achieve zero net debt by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:50 pm

BSFC

Blue Star Foods shares are trading higher following the company's announcement of its 2024 revenue guidance forecast.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:45 pm

RIVN

Rivian Automotive, Inc. reaffirmed its full-year 2024 guidance for vehicle production and adjusted EBITDA during its Investor Day event. The company will announce its Q2 2024 vehicle production and deliveries on July 2, 2024. Additionally, Rivian provided updates on its strategic plan and financial targets.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:43 pm

REBN

Reborn Coffee Inc. (NASDAQ:REBN) has announced a master licensing deal to enter the UAE market, with its first flagship location set to open in Dubai. The agreement includes plans for additional stores and facilities in the region.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:38 pm

BSFC

Blue Star Foods Corp. (NASDAQ: BSFC) has announced a 2024 revenue growth forecast of at least 65%, with an anticipated annual run-rate exceeding $20 million. The company is seeing accelerated revenue growth from both current and new opportunities.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:37 pm

WBA

Walgreens Boots Alliance (WBA) reported disappointing Q3 earnings and cut its annual outlook, leading to a significant drop in its stock price. Despite a slight increase in sales, the company's adjusted EPS missed expectations, and it faces challenges in the U.S. retail and pharmacy segments.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 12:34 pm