Streetbeat News

Revenues

EVTV

Envirotech Vehicles reported Q1 sales of $810.5 million, a significant increase from $523.2 million year-over-year. The company also reported an adjusted EPS loss of $(0.07), an improvement from $(0.14) year-over-year.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:39 am

GME

RDDT

On May 17th, U.S. stock markets closed mixed with the Dow Jones surpassing 40,000 for the first time. Reddit rose 10% after partnering with OpenAI, while GameStop fell nearly 20% due to a mixed-shelf offering and lower sales expectations. Global markets, including Asia and Europe, saw gains driven by expectations of U.S. rate cuts and rising commodity prices.

Portfolio Pulse from Akanksha Bakshi

May 20, 2024 | 10:36 am

ORCL

Oracle's $28 billion acquisition of Cerner's AI-driven health records system has backfired, leading to patient deaths and significant liabilities. The flawed EHR system has caused thousands of medical orders to disappear, resulting in three deaths. Despite these setbacks, Oracle is in talks with Elon Musk's xAI for a potential $10 billion deal to rent AI servers.

Portfolio Pulse from Benzinga Neuro

May 20, 2024 | 10:35 am

BW

Babcock & Wilcox Construction Co., a subsidiary of Babcock & Wilcox (NYSE:BW), has secured contracts worth over $20 million for power plant outage and rebuild work in the U.S.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:33 am

ESPR

OTSKY

Esperion and Otsuka reported that the primary endpoint was achieved in a Phase 3 trial in Japan for bempedoic acid as a potential treatment for hypercholesterolemia. The trial showed statistically significant outcomes, with a -25.25% change in LDL-C at Week 12 for the bempedoic acid group compared to -3.46% for the placebo group. Otsuka holds exclusive development and commercialization rights for bempedoic acid in Japan.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:02 am

BCLI

BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI) will present new biomarker data suggesting ALS patients may benefit from longer-term treatment with NurOwn at the 3rd Annual ALS Drug Development Summit in May 2024.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:01 am

FUFU

BitFuFu (NASDAQ:FUFU) reported a significant increase in its Q1 earnings and sales. The company's EPS rose to $0.23 from $0.02 YoY, a 1050% increase, while sales surged to $144.41 million from $57.97 million YoY, a 149.12% increase.

Portfolio Pulse from mahesh@benzinga.com

May 20, 2024 | 9:39 am

NIO

TSLA

XPEV

Chinese EV makers Nio Inc (NYSE:NIO) and Xpeng Inc (NYSE:XPEV) are taking over 200 days to pay their suppliers, more than twice the time taken by Tesla Inc (NASDAQ:TSLA). Nio took 295 days and Xpeng took 221 days as of the end of 2023. Both companies have been struggling with profitability, reporting significant net losses and declining profit margins. Nio's and Xpeng's shares have dropped significantly year-to-date.

Portfolio Pulse from Anan Ashraf

May 20, 2024 | 9:35 am

BIDU

TSLA

Fund manager Gary Black discusses the potential of Tesla's full self-driving (FSD) technology and the competition it may face from other automakers, including Baidu. He believes that fully autonomous vehicles are the future but doubts that Tesla will be the only player in the market. Baidu already has 500 robotaxis in service, with 50% capable of full autonomy. Tesla plans to unveil its robotaxi on August 8, with significant revenue expectations from this service.

Portfolio Pulse from Shanthi Rexaline

May 20, 2024 | 9:04 am

QFIN

Qifu Technology expects its Q2 2024 adjusted net income to be between RMB1.22 billion and RMB1.28 billion, reflecting a year-on-year growth of 6.4% to 11.6%. The company plans to maintain a prudent approach due to macro-economic uncertainties, focusing on profitability and efficiency.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:58 am