Streetbeat News

Revenues

SPY

US Industrial Production for May increased by 0.9%, significantly higher than the estimated 0.3% and the previous month's 0.0%.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:21 pm

SPY

The US capacity utilization rate for May was reported at 78.7%, slightly above the estimated 78.6% and higher than the prior month's 78.2%.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:19 pm

C

Citi CEO announced that the US personal banking division is adjusting expenses to increase returns. The services business moves $5 trillion daily and expects continued growth after last year's record results.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:12 pm

NEE

NextEra Energy Inc (NYSE:NEE) shares are trading lower after the company announced plans to sell $2 billion of equity units. The proceeds will be used for investments in energy projects and general corporate purposes. The company reaffirmed its long-term growth rate expectations and will participate in investor meetings throughout June.

Portfolio Pulse from Adam Eckert

June 18, 2024 | 1:10 pm

CHGG

Chegg Inc (NYSE:CHGG) shares surged 18.7% after announcing a restructuring plan focused on its core student audience. The plan includes a 23% headcount reduction, a new marketing strategy, and increased resources for its international program. Chegg aims to save $40-$50 million by 2025 and achieve a 30% adjusted EBITDA margin.

Portfolio Pulse from Adam Eckert

June 18, 2024 | 1:10 pm

C

Citi CEO announced that the company is focusing more intensively on data remediation and processes, with regulatory reporting identified as an area needing progress. Additionally, Citi's investment banking division is successfully winning deals in the technology sector.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:07 pm

META

MSFT

NVDA

TSLA

Tesla Inc (NASDAQ:TSLA) is underperforming compared to other tech giants in the Magnificent 7, with a year-to-date performance of -24.57%. Elon Musk has teased a new 'Master Plan 4' which could potentially revive Tesla's fortunes. Investors are eagerly awaiting more details, hoping it will include advancements in AI, robotics, and new vehicle models.

Portfolio Pulse from Surbhi Jain

June 18, 2024 | 1:06 pm

SUGP

SU Group Holdings Limited (NASDAQ:SUGP) has signed an exclusive distribution agreement with MATZ-ERREKA for premium automatic doors and gates in Hong Kong. This move is expected to create new revenue streams and enhance the company's competitive edge.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:02 pm

CLSK

CleanSpark has acquired five turnkey Bitcoin mining facilities in Georgia for $25.8 million. This acquisition is expected to increase their operating hashrate to over 20 EH/s by the end of the month. The facilities will also provide load balancing for local electric municipal cooperatives.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:02 pm

OVID

Ovid Therapeutics (NASDAQ:OVID) has received mixed ratings from 6 analysts, with a majority being bullish. The average 12-month price target is $6.92, down from $7.33. Analysts have adjusted their ratings and price targets in response to market conditions and company performance. Ovid Therapeutics has shown strong revenue growth but struggles with profitability.

Portfolio Pulse from Benzinga Insights

June 18, 2024 | 1:00 pm