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WOLF

Wolfspeed Inc (NYSE:WOLF) has postponed its $3 billion plant in Germany due to weak EV markets and is focusing on ramping up production in New York. The delay, coupled with disappointing Q3 revenue results, has led analysts to lower their price targets. The stock has fallen 50% over the past year.

Portfolio Pulse from Anusuya Lahiri

June 20, 2024 | 11:17 am

CSIQ

Recurrent Energy, a subsidiary of Canadian Solar, has secured $513 million in project financing for the Papago Storage Project in Maricopa County, Arizona. The 1,200 MWh storage project will begin construction in Q3 2024 and is expected to start commercial operations in Q2 2025. The project has a 20-year tolling agreement with Arizona Public Service Company and will create 200 jobs during construction.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:16 am

DRI

Darden Restaurants has released its financial outlook for fiscal 2025, projecting total sales between $11.8 billion and $11.9 billion, slightly below the consensus of $11.948 billion. The company expects EPS from continuing operations to be between $9.40 and $9.60, aligning with the consensus of $9.60. Additional details will be provided during an investor conference call.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:08 am

WGO

Winnebago Industries (NYSE:WGO) reported Q3 earnings of $1.13 per share, missing the analyst estimate of $1.34. Sales were $786 million, below the $799.85 million estimate. Both earnings and sales saw significant declines compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:03 am

PLTR

Palantir Technologies Inc. (NYSE:PLTR) has secured a $19 million contract with the Advanced Research Projects Agency for Health (ARPA-H) to enhance health outcomes using AI and data infrastructure. The contract spans two years and aims to support ARPA-H's mission to accelerate health innovations.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:01 am

ACM

AECOM (NYSE:ACM) will lead the design for Washington's SR 520 Portage Bay Bridge project, enhancing infrastructure with new ramps, seismically resilient structures, and improved transit connections.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:00 am

BRAZ

FTRI

PBR

Petrobras' new CEO, Magda Chambriard, has committed to enhancing Brazil's economy and ensuring the company's profitability. She aims to accelerate Petrobras' $102 billion investment plan for 2024-2028, which could create hundreds of thousands of jobs. Chambriard does not foresee changes in senior management and has highlighted the national importance of a basin in Brazil's Equatorial Margin. Investors can gain exposure to Petrobras through ETFs like Global X Brazil Active ETF (BRAZ) and First Trust Indxx Global Natural Resources Income ETF (FTRI).

Portfolio Pulse from Lekha Gupta

June 20, 2024 | 10:57 am

CMC

Commercial Metals Company (CMC) expects its fiscal fourth-quarter financial results to be consistent with third-quarter levels. The North America Steel Group's finished steel shipments and adjusted EBITDA margin are anticipated to remain stable. The Europe Steel Group's adjusted EBITDA is expected to improve despite challenging market conditions. The Emerging Businesses Group should see modest financial improvement due to steady market fundamentals and a healthy order book.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:56 am

PLL

Piedmont Lithium (NASDAQ: PLL) announced high-grade lithium zones in Quebec, enhancing its resource potential at North American Lithium (NAL). The 2023-2024 drill program identified new high-grade zones, with plans for an additional 30,000 meters of drilling in 2024. NAL, jointly owned by Piedmont and Sayona Mining, has achieved record spodumene concentrate volumes and targets steady-state production in H2 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:55 am

ACN

Accenture reported Q3 new bookings of $21.1 billion, up by 22% in USD, with generative AI new bookings of over $900 million for a total of $2 billion fiscal year-to-date.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:53 am