Streetbeat News

Revenues

DOLE

Dole PLC (NYSE:DOLE) reported a strong Q1 FY24 with a 6.6% sales growth to $2.12 billion, meeting analyst estimates. The company saw higher volumes and pricing in bananas and pineapples, leading to an 8.7% rise in gross profit. Adjusted EPS of $0.43 beat the consensus estimate of $0.31. Dole also completed the sale of a 65% equity stake in Progressive Produce, generating $120.3 million in gross proceeds. The company declared a $0.08 per share dividend and maintained its full-year Adjusted EBITDA target.

Portfolio Pulse from Shivani Kumaresan

May 15, 2024 | 2:58 pm

CVNA

EBIZ

IBUY

Carvana Co (NYSE:CVNA) anticipates a surge in used car sales due to a potential oversupply of new vehicles. CEO Ernest Garcia III highlighted that increased car production by major automakers could benefit Carvana. The company reported a net income of $49 million, contrary to analysts' projections of a $116 million loss, and saw a growth in vehicle sales for the first time in six quarters. Despite a substantial debt exceeding $6 billion, Carvana reaffirmed its second-quarter guidance for sequential growth in EBITDA. CVNA stock has gained over 944% in the past year.

Portfolio Pulse from Shivani Kumaresan

May 15, 2024 | 2:58 pm

BLK

COIN

Circle Internet Financial, the issuer of the USDC stablecoin, is relocating its headquarters from Ireland to the United States amid a market rebound. This move comes as USDC's circulation has increased from $24 billion to $33 billion. The relocation may expose Circle to higher taxes but aligns with recent OECD tax reforms. Circle is backed by major Wall Street firms and cryptocurrency companies.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:37 pm

AWAY

INQQ

MMYT

MakeMyTrip Limited (NASDAQ:MMYT) reported strong fiscal Q4 2024 earnings, with adjusted revenue and EPS exceeding analyst expectations. The company saw significant growth across its business segments, driven by elevated travel demand in India. The stock has gained 194% over the last 12 months. Investors can also gain exposure through ETFs like INQQ and AWAY.

Portfolio Pulse from Anusuya Lahiri

May 15, 2024 | 2:34 pm

SPY

USO

The EIA reported a draw of 0.045 million barrels in weekly distillate stocks, contrary to the expected build of 0.770 million barrels. This follows a prior build of 0.560 million barrels.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 2:30 pm

ARES

Ares Management (NYSE:ARES) has significantly outperformed the market over the past 10 years, delivering an average annual return of 23.4%. A $100 investment in ARES 10 years ago would be worth $823.49 today. The article highlights the power of compounded returns over time.

Portfolio Pulse from Benzinga Insights

May 15, 2024 | 2:30 pm

SPY

USO

USA crude oil inventories saw a significant draw of 2.508 million barrels, much higher than the estimated draw of 0.400 million barrels and the prior draw of 1.362 million barrels. This indicates a higher demand or lower supply of crude oil.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 2:30 pm

SSD

Simpson Manufacturing Co (NYSE:SSD) has significantly outperformed the market over the past 10 years, delivering an average annual return of 18.74%. A $1000 investment in SSD 10 years ago would be worth $5,416.69 today. The company currently has a market capitalization of $7.50 billion.

Portfolio Pulse from Benzinga Insights

May 15, 2024 | 2:30 pm

ETHUSD

GME

USDCUSD

Polymarket, a crypto prediction market platform, has secured $70 million in funding led by Peter Thiel's Founders Fund and backed by Ethereum co-founder Vitalik Buterin. Despite regulatory challenges from the CFTC, the platform continues to grow, focusing on non-U.S. markets.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:27 pm

IBKR

NVDA

The surge in Bitcoin prices has led to a significant increase in demand for crypto wallet recovery services. Retail investors are seeking help to regain access to their digital wallets, often due to forgotten passwords or lost two-factor authentication devices. Companies like Interactive Brokers, Nvidia, and ReWallet have seen a notable rise in requests for their services.

Portfolio Pulse from Benzinga Neuro

May 15, 2024 | 2:24 pm