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BYDDF

BYDDY

BYD Co Ltd is recalling 16,666 Seagull EVs due to faulty reversing cameras caused by software issues in vehicles produced between April 7, 2023, and May 31, 2023. The company plans to address the problem with an over-the-air software upgrade, and for vehicles that cannot be fixed remotely, BYD will contact customers for a direct software upgrade. This recall comes as BYD maintains its position as the top EV maker in China, with a 13.44% increase in sales of new energy vehicles in the first quarter of 2024.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 12:42 pm

ALUR

Allurion has announced its preliminary Q1 revenue to be between $9.2M and $9.3M, indicating a growth rate of 12-13%.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:41 pm

DAN

Dana Inc. (NYSE:DAN) reported Q1 2024 earnings of $0.27 per share, surpassing the consensus estimate of $0.19 by 42.11%. Quarterly sales reached $2.735 billion, exceeding estimates of $2.690 billion by 1.66% and marking a 3.44% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:40 pm

VCIG

VCI Global (VCIG) reported a significant increase in its FY23 earnings per share (EPS) to $0.21, up from $0.13 year-over-year (YoY). The company's revenue also saw a substantial rise to $19.8 million, up from $8.1 million YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:37 pm

SSKN

STRATA Skin Sciences, Inc. (NASDAQ:SSKN) announced the placement of six XTRAC devices with dermatology clinics in Q1 of 2024, marking significant 'comebacks' from clinics that had previously left but have now rejoined STRATA's partner program. These include notable clinics like Henry Ford Health System, Integrated Dermatology Group, and Schweiger Dermatology Group. This move is seen as a validation of STRATA's partner program and is part of a broader strategy to increase device utilization and average revenue per device through direct-to-consumer marketing and efforts to regain lapsed customers.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:35 pm

SPGC

Sacks Parente Golf (NASDAQ:SPGC) reported Q1 EPS of $(0.08), unchanged YoY, with sales increasing to $350K from $90K, a 288.89% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:34 pm

ICU

SeaStar Medical has been awarded a $3.6 million grant from the National Institutes of Health (NIH) to study its Selective Cytopheretic Device (SCD) in adult patients with severe chronic heart failure. The study aims to explore the potential benefits of the SCD in treating this patient group.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:33 pm

OPTT

Ocean Power Technologies (OPTT) has been awarded a multi-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract by the National Oceanic and Atmospheric Administration (NOAA) to support its critical research and operation missions. The contract has a minimum duration of five years, with an early potential of generating several million dollars per year in revenue for OPTT.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:29 pm

LOBO

LOBO EV Technologies Ltd. (NASDAQ:LOBO) has opened a new manufacturing facility in Wuxi, China, doubling its production capacity in the region. The facility, spanning 135,754 square feet, is located in Dachen Industry Park, a strategic hub for the e-bike industry. This expansion is expected to support an annual production exceeding $27 million in value, significantly boosting LOBO's output for two-wheeled electric vehicles. The move is part of LOBO's growth strategy, fueled by a successful IPO, and aims to meet the increasing demand for high-quality electric vehicles. The new plant will also enable the launch of new product lines, including high-speed electric motorcycles and license-plated electric vehicles. Following LOBO's presence at the Canton Fair in April 2024, the company secured nearly $1 million in customer deposits from potential orders worth $5 million, indicating strong market demand.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:25 pm

AKLI

Akili, Inc. (NASDAQ:AKLI) has amended its agreement with Shionogi, resulting in the cancellation and forgiveness of a $5M debt and the receipt of near-term cash payments totaling up to $18M for SDT-001, a digital ADHD treatment. Additionally, Akili is exploring strategic alternatives to maximize shareholder value, which includes a significant workforce reduction by 46% and a reduction in promotional activities. The company also plans to release its Q1 2024 financial results on May 14, 2024, without hosting an earnings call.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:21 pm