Streetbeat News

Revenues

MPAA

Motorcar Parts of America (NASDAQ:MPAA) reported Q4 sales of $189.48 million, missing the analyst estimate of $198.60 million by 4.59%. This represents a 2.70% decrease from the same period last year. The company exits the quarter with $13.974 million in cash and equivalents.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:14 pm

CCI

Crown Castle has announced significant operational changes and updated its 2024 outlook. The company plans to reduce capital expenditures by $300 million, achieve $60 million in expense savings, reduce staffing, close offices, review its fiber segment, and realize $100 million in annualized cost savings.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:13 pm

SPOT

Spotify Technology SA is set to launch a new premium plan called 'Supremium' later this year, featuring high-fidelity audio and advanced playlisting tools. The plan will cost at least $5 more per month and is expected to generate additional revenue with an average 40% price increase for users.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:12 pm

POAI

Predictive Oncology has introduced a new technology called 'Membrane Protein Factory' for expressing functional and stable G-Protein Coupled Receptors (GPCRs). The company has filed for intellectual property protection for this technology, which aims to produce purified and biologically active membrane proteins for drug development. The annual US GPCR market was valued at nearly $3.5 billion in 2022 and is expected to grow more than 5% annually through 2030.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:10 pm

OPTX

Syntec Optics has announced $1.3 million in orders for 2024, indicating strong demand for its products.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:09 pm

USO

OPEC has left its 2024 world oil demand growth forecast unchanged at 2.25 million barrels per day and its 2025 forecast unchanged at 1.85 million barrels per day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:02 pm

ASO

Academy Sports (NASDAQ:ASO) reported Q1 earnings of $1.08 per share, missing the analyst consensus estimate of $1.24 by 12.9%. Sales were $1.36 billion, also missing the estimate of $1.38 billion by 1.16%. Both earnings and sales showed a decline compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:01 pm

AMBA

7 analysts have provided mixed opinions on Ambarella (NASDAQ:AMBA) over the past quarter, with ratings ranging from bullish to bearish. The average 12-month price target is $70.29, a slight decrease from the previous $72.71. Key analysts have adjusted their ratings and price targets, reflecting varied expectations for the company's future performance. Ambarella faces challenges in revenue growth, net margin, ROE, and ROA, but maintains a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

June 11, 2024 | 12:01 pm

SOND

Sonder Holdings Inc. (NASDAQ:SOND) has announced a portfolio optimization program, exiting 60 underperforming properties to improve cash flow by $40 million annually. The company has also secured an additional $10 million in financing to enhance liquidity.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 11:37 am

BITB

GBTC

IBIT

Bitcoin prices fell sharply to $67,000, raising concerns about a potential reversal in the bullish trend. Analysts highlight insufficient bid support and anticipate continued volatility due to upcoming U.S. macroeconomic data releases. Bitcoin ETFs saw mixed flows, with Grayscale experiencing significant outflows.

Portfolio Pulse from Murtuza Merchant

June 11, 2024 | 11:36 am