Streetbeat News

Revenues

AZN

AstraZeneca's CEO, Pascal Soriot, stated that the company does not need further mergers and acquisitions. He also mentioned that the Inflation Reduction Act could impact the company's top line by $500 million. Soriot aims to nearly double sales by 2030 and has no plans to retire.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:27 pm

STM

The European Commission has approved a €2 billion Italian state aid to support STMicroelectronics (NYSE:STM) in establishing a chip manufacturing facility in Catania, Sicily. The plant will produce Silicon Carbide (SiC) power devices, contributing to Europe's technological self-sufficiency and digital sovereignty. The project aims to enhance the supply and resilience of semiconductor technologies crucial for digital and green transitions.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 1:09 pm

ACRDF

CGC

Acreage Holdings reported a 19% YoY decline in Q1 revenue, but CEO Dennis Curran sees significant growth opportunities as the company integrates with Canopy Growth's USA ecosystem. Acreage is focusing on the New York adult-use market and Ohio's upcoming adult-use sales.

Portfolio Pulse from Jelena Martinovic

May 31, 2024 | 1:07 pm

CLDT

Chatham Lodging Trust has acquired the Home2 Suites by Hilton in Phoenix Downtown for $43.3 million. The acquisition is expected to produce a Revenue Per Available Room (RevPAR) of over $150.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:05 pm

REXR

Analysts' ratings for Rexford Industrial Realty (NYSE:REXR) have varied over the last quarter, with a mix of bullish, indifferent, and somewhat bearish sentiments. The average 12-month price target has decreased to $49.0 from a previous $53.0. Key financial indicators show strong revenue growth and net margin, but lower ROE and ROA compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

May 31, 2024 | 1:01 pm

CLDI

Calidi Biotherapeutics has announced an agreement to immediately exercise 10.7 million warrants, reducing the exercise price to $0.20. This exercise is expected to generate approximately $2.1 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:55 pm

AMZN

BABA

CPNG

PDD

Alibaba and Coupang are intensifying their e-commerce battle in South Korea with significant investments. Alibaba is investing $1.1 billion in a new logistics center, while Coupang is focusing on advanced technologies and logistics. Both companies face competition from each other and other players like Naver and PDD Holdings.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 12:49 pm

AMD

ASML

INTC

NVDA

TSM

China has announced a $47.5 billion public fund to boost its self-reliance in manufacturing advanced chips, countering U.S. efforts to restrict its access to key technologies. The U.S. has also invested heavily in its semiconductor industry through the CHIPS Act, aiming to reduce reliance on Asian production and strengthen its geopolitical standing. Companies like NVIDIA, AMD, Intel, and Taiwan Semiconductor are mentioned as key players in the global semiconductor landscape.

Portfolio Pulse from Natan Ponieman

May 31, 2024 | 12:44 pm

SPY

The Federal Reserve's preferred inflation measure, the PCE price index, held steady in April, matching expectations. However, personal income and spending growth rates slowed more than predicted, indicating a deceleration in consumer momentum. This has led to a slight downtick in Treasury yields and mixed market reactions.

Portfolio Pulse from Piero Cingari

May 31, 2024 | 12:43 pm

STSS

Sharps Technology has announced the acquisition of InjectEZ and a Syringe Sales Agreement, positioning itself in the U.S. prefillable syringe industry. The agreement secures over $200 million in product orders for the first five years, with additional commitments being negotiated. Shipments are expected to begin by Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:38 pm