Streetbeat News

Revenues

CVNA

Carvana reported significant improvements in its financial performance for Q1, including a 16% YoY growth in retail units, a 42% increase in non-GAAP GPU, a 17% decrease in non-GAAP SG&A per unit, and an 860 bps increase in Adjusted EBITDA Margin. The company achieved an industry-leading 7.7% Adjusted EBITDA margin and expects further momentum in Q2.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 5:19 pm

SCWX

SecureWorks Corp. (NASDAQ:SCWX) shares surged 16.9% after reporting strong Q1 FY25 results. Revenue of $85.652 million beat estimates, driven by a 10% Y/Y growth in Taegis revenue. Adjusted EPS of $0.05 surpassed expectations, and the company provided a positive outlook for FY25.

Portfolio Pulse from Lekha Gupta

June 06, 2024 | 5:18 pm

NIO

NIO Inc (NYSE:NIO) has partnered with Melexis to integrate advanced current sensor chips into its electric vehicles, enhancing efficiency and reliability. Despite this positive development, NIO's shares are down 7.12% following a reported decline in revenue and vehicle deliveries for Q1 2024.

Portfolio Pulse from Shivani Kumaresan

June 06, 2024 | 5:11 pm

SHOP

Shopify (NYSE:SHOP) has significantly outperformed the market over the past 15 years, delivering an average annual return of 16.19%. A $100 investment in Shopify 15 years ago would be worth $946.73 today. The article highlights the power of compounded returns over time.

Portfolio Pulse from Benzinga Insights

June 06, 2024 | 5:01 pm

IMO

Imperial Oil (AMEX:IMO) has outperformed the market over the past 5 years, delivering an average annual return of 19.28%. A $100 investment in IMO 5 years ago would be worth $239.51 today. The article highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

June 06, 2024 | 5:01 pm

CHPT

Analysts have provided mixed ratings for ChargePoint Holdings (NYSE:CHPT) over the past three months, with a majority being bullish. The average 12-month price target has decreased from $3.00 to $2.62. Key analysts have adjusted their ratings and price targets, reflecting changing market dynamics and company performance. ChargePoint faces challenges in revenue growth, net margin, ROE, and ROA, but maintains a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

June 06, 2024 | 5:00 pm

TOMZ

TOMI Environmental Solutions (NASDAQ:TOMZ) announced a 30% reduction in executive compensation and external consulting fees, aiming to cut operational cash use by $500,000 by the end of 2024. The company anticipates securing a significant contract this summer and will continue investing in sales personnel and global distribution to expand its product reach.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 4:57 pm

TOMZ

Tomi Environmental Solutions (NASDAQ:TOMZ) announces cost reduction efforts to achieve long-term growth and profitability, expecting to reduce cash used in operations by ~$500,000 by the end of 2024. The company will continue to invest in sales personnel and global distribution to expand product reach.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 4:55 pm

FDIV

MOO

TTC

The Toro Company (NYSE:TTC) shares surged after reporting better-than-expected Q2 FY24 results. Sales increased by 1% Y/Y to $1.35 billion, beating the consensus. Adjusted EPS of $1.40 also surpassed expectations. The company saw significant growth in its residential segment and made progress in reducing dealer field inventories. Toro expects low-single-digit net sales growth and adjusted EPS of $4.25-$4.35 for FY24. Investors can gain exposure via MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV) and VanEck Agribusiness ETF (NYSE:MOO).

Portfolio Pulse from Lekha Gupta

June 06, 2024 | 4:51 pm

IREN

NVDA

Iris Energy Ltd (NASDAQ:IREN) stock is trading higher after the company issued its monthly operations update. The company mined 230 Bitcoin in May, down from previous months due to a halving event. Iris Energy increased its 2024 expansion plans and highlighted its AI cloud services, generating significant profit from NVIDIA GPUs. The company is also exploring growth financing opportunities and has an upcoming Analyst Day and Investor Event on July 23.

Portfolio Pulse from Dylan Berman

June 06, 2024 | 4:47 pm