Streetbeat News

Revenues

SON

Sonoco announced a price increase of at least 6% for all converted paperboard products, effective July 10th, 2024. This includes tubes, cores, cones, and protective packaging.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 11:07 am

CBUS

Cibus has confirmed successful edits in canola for its initial nutrient use efficiency trait. The newly edited plants will now undergo testing in controlled environments.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 11:06 am

CSIQ

Canadian Solar has initiated its first Feed-In Premium (FIP) projects in Japan and signed a Power Purchase Agreement with Toyota Tsusho. The projects include a 1.2 MWp project in Tsukuba City and a 1.9 MWp project in Daisen Town, both powered by CS7N-660W bifacial modules. Initially awarded a feed-in tariff (FIT), the projects were switched to FIP to meet the rising demand for renewable energy, generating additional revenue through Non-Fossil Certificates (NFCs).

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 11:03 am

PSNY

Polestar is accelerating its geographic expansion and plans to enter seven new markets during 2025. The company is widening its retail footprint with existing and new partners, and has added experienced senior leadership in key markets.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 11:03 am

OVID

TAK

Takeda's Phase 3 topline study results for Soticlestat have led Ovid Therapeutics to prioritize and pursue its programs with financial discipline. Ovid expects its cash runway to last into the first half of 2026.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 11:01 am

STNG

Scorpio Tankers (STNG) has repurchased 641,654 of its common shares at an average price of $78.26 per share under its 2023 Securities Repurchase Program, with $199.8 million remaining for future repurchases. The company also provided an update on its Q2 2024 daily Time Charter Equivalent (TCE) revenues, detailing average daily TCE revenues and the duration of contracted voyages for its LR2, MR, and Handymax vessels.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 10:49 am

AZN

The FDA has approved AstraZeneca's cancer drug Imfinzi (durvalumab) for treating advanced endometrial cancer with mismatch repair deficiency (dMMR). The approval is based on the DUO-E Phase III trial, which showed a 58% reduction in disease progression or death when Imfinzi was used with chemotherapy. AstraZeneca aims to increase its revenue significantly by 2030 through its oncology and other portfolios.

Portfolio Pulse from Shivani Kumaresan

June 17, 2024 | 10:38 am

EBF

Ennis (NYSE:EBF) reported Q1 earnings per share of $0.41, beating the analyst estimate of $0.36. Sales were $103.11 million, also surpassing the $100.85 million estimate. However, both EPS and sales were down compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 10:34 am

AAPL

AMZN

GOOG

IWM

LULU

META

MSFT

NVDA

SNOW

Nvidia's dominance in the AI sector is drawing investments away from other sectors and stocks, causing declines even in fundamentally sound companies. This phenomenon is impacting the broader market, with tech stocks like Nvidia, Alphabet, Amazon, Apple, Microsoft, and Meta driving the current rally. The iShares Russell 2000 ETF, which tracks small-cap stocks, is down for the year, highlighting the narrow breadth of the market rally.

Portfolio Pulse from Shanthi Rexaline

June 17, 2024 | 10:17 am

GILT

Gilat Satellite Networks has signed a definitive agreement to acquire Stellar Blu Solutions LLC for $98 million at closing, with up to an additional $147 million contingent on post-closing objectives. The acquisition is expected to boost Gilat's annual revenues by $100 million to $150 million starting in 2025 and be accretive on a non-GAAP basis from the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 10:07 am