Streetbeat News

Revenues

SPY

The NY Empire State Manufacturing Index for May came in at -15.6, significantly below the estimated -9.9. This indicates a sharper contraction in manufacturing activity than expected.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:30 pm

SPY

The USA Consumer Price Index (CPI) for April came in at 3.4% year-over-year, matching the estimated 3.4% but slightly lower than the prior 3.5%.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:30 pm

VCIG

VCI Global has entered into an agreement to facilitate a capital raising of no less than $210 million for Magnum Mining & Exploration's Green Pig Iron Project in Saudi Arabia. Magnum will receive $10 million as working capital, and $200 million will be used for the Midmetal HIsmelt plant, with matching funds from the Saudi Investment Development Fund.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:23 pm

TRI

Thomson Reuters (NYSE:TRI) and Blackstone have sold 17.3 million shares of London Stock Exchange Group (LSEG) at £91.50 per share. Thomson Reuters will receive approximately $0.5 billion in pre-tax net proceeds and will no longer hold any interest in LSEG.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:20 pm

NVDA

SHOC

SMH

Nvidia's market value nears $2.3 trillion, boosting CEO Jensen Huang's pay by 60% to $34.2 million. The company's stock gained 216% due to its AI chips and GPU market dominance. Median employee pay increased by 17% to $266,939. Nvidia analysts see potential upside in fiscal 2026 earnings. However, geopolitical tensions with China pose risks. Investors can gain exposure via EA Series Trust Strive U.S. Semiconductor ETF (SHOC) and VanEck Semiconductor ETF (SMH).

Portfolio Pulse from Anusuya Lahiri

May 15, 2024 | 12:18 pm

PGR

The Progressive Corporation (NYSE:PGR) reported its financial results for April 2024, showing a net income of $420.3 million and earnings per share (EPS) of $0.72. The company also reported net premiums written of $6,178.0 million and net premiums earned of $5,575.0 million. The combined ratio for the current year was 89.0, compared to 97.9 for the prior year month.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:18 pm

NMG

NMG is advancing its EV battery material offtakes and detailing its capital strategy for Phase-2 financing. The company has $88M cash on hand and is engaging with tier-1 EV and battery manufacturers for additional offtake agreements. NMG is also working with Société Générale and BMO Capital Markets to refine its capital structure for Phase-2 project financing. The company has issued its 2023 ESG Report and closed a $37.5M private placement with Mitsui and Pallinghurst.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:17 pm

CRVO

CervoMed (NASDAQ:CRVO) reported Q1 earnings per share (EPS) of $(0.41), missing the analyst estimate of $(0.39) by 5.13%. However, the company saw a significant improvement from the $(1.95) per share loss in the same period last year. Quarterly sales were $2.35 million, surpassing the analyst estimate of $1.35 million by 73.85%.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:14 pm

BOF

Branchout Food (NASDAQ:BOF) reported a Q1 EPS of $(0.26), a significant decrease from $0.26 YoY. However, sales increased dramatically to $1.47M from $97.34K YoY.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:13 pm

AXTA

Axalta Coating Systems (NYSE:AXTA) has unveiled a three-year plan targeting significant milestones by 2026, including $500 million in net sales growth, over 60% Adjusted Diluted EPS growth, and adjusted EBITDA margins exceeding 21%. The plan focuses on cultural transformation, operational excellence, optimized portfolio strategy, sustainable innovation, and effective capital allocation.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:11 pm