Streetbeat News

Revenues

X

President Joe Biden plans to announce a 25% tariff on specific Chinese steel and aluminum imports during a visit to Pittsburgh, aiming to strengthen the domestic steel sector and counteract China's unfair trade practices. The tariffs, affecting $1.7 billion worth of imports, are part of broader efforts to protect American manufacturing jobs and address industrial concerns. The proposal also includes a review of China's shipbuilding practices and collaboration with Mexico to prevent indirect Chinese steel imports. Economist Ronnie Walker from Goldman Sachs warns that the tariffs could lead to higher consumer prices and have a modestly negative impact on GDP.

Portfolio Pulse from Piero Cingari

April 17, 2024 | 1:22 pm

INTZ

Intrusion Inc.'s partner, iOne, has won a bid approximately worth $25 million for a project with the Commission on Elections. This win signifies a substantial contract for iOne and indirectly benefits Intrusion Inc. (INTZ), showcasing the strength and potential growth of their partnerships and market presence.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:20 pm

CGC

OGI

TLRY

The Canadian government's 2024 budget did not include the anticipated excise tax relief for cannabis companies, disappointing major players like Tilray, Organigram, and Canopy Growth. Despite recommendations for tax reform to help legal cannabis businesses compete with illicit markets, the budget largely ignored these suggestions. CEOs of these companies expressed their concerns, highlighting the challenges of competing with the illicit market under the current tax regime and the negative impact on the industry's growth.

Portfolio Pulse from Nina Zdinjak

April 17, 2024 | 1:11 pm

FCCO

First Community (NASDAQ:FCCO) reported Q1 earnings of $0.34 per share, meeting consensus estimates but marking a 24.44% decrease from last year. Sales were $15.26M, exceeding estimates by 3.53% and showing a 2.20% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:03 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) has entered into a licensing agreement with OncoX for the development and commercialization of BLEX 404, a drug for treating Non-Small Cell Lung Cancer (NSCLC), derived from Maitake Mushroom. The agreement includes an upfront payment of $12.5 million in cash or shares, a milestone payment of $1.25 million, and royalties up to $12.5 million. This partnership aims to leverage ABVC's R&D capabilities and OncoX's market positioning to address the unmet needs in NSCLC treatment, potentially transforming patient outcomes with combination therapy.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:01 pm

MSFT

In the last three months, 22 analysts have published ratings on Microsoft, with a mix of bullish and somewhat bullish perspectives. The average 12-month price target is $489.55, marking a 9.01% increase from the previous target of $449.07. Analysts from firms like Wells Fargo, BMO Capital, and Morgan Stanley have raised their price targets, reflecting optimism about Microsoft's market performance. The company's financial indicators, such as a 17.58% revenue growth rate, a net margin of 35.26%, and an ROE of 9.53%, underscore its strong market position and profitability.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 1:01 pm

AMZN

Amazon.com (NASDAQ:AMZN) received mixed analyst ratings in the last quarter with a total of 26 evaluations, showing a shift towards bullish sentiment. The recent assessments indicate an average 12-month price target of $210.31, marking an 11.33% increase from the previous target. Analysts from firms like Truist Securities, Roth MKM, and Stifel have adjusted their price targets and ratings, reflecting optimism about Amazon's market position and financial performance. Amazon's revenue growth, net margin, and ROE have outperformed industry averages, supporting a positive outlook.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 1:00 pm

RELY

Five analysts have recently updated their ratings on Remitly Global (NASDAQ:RELY), showing a mix of bullish and bearish sentiments. The average 12-month price target for RELY has been raised to $25.8, reflecting a 19.06% increase from the previous target of $21.67. Analyst actions include maintaining, raising, and lowering ratings with price targets ranging from $19.00 to $32.00. Remitly Global, a provider of international money transfer services, has shown a revenue growth of 38.59% as of December 31, 2023, but struggles with profitability and efficiency metrics such as net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 1:00 pm

BLZE

Four financial analysts have recently shared their evaluations of Backblaze (NASDAQ:BLZE), showing a mix of bullish and somewhat bullish outlooks. The average 12-month price target for BLZE is now $12.25, marking a 23.99% increase from the previous target of $9.88. Analysts from firms including Oppenheimer and Raymond James have raised their price targets, reflecting positive sentiment towards the company's market performance and financial indicators such as a 25.35% revenue growth rate. However, concerns are noted with Backblaze's below-average net margin, ROE, ROA, and a cautious approach to debt management.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 1:00 pm

MIRM

Analyst ratings for Mirum Pharmaceuticals (NASDAQ:MIRM) show a mix of bullish and somewhat bullish opinions, with recent actions including ratings adjustments and price target changes. The average 12-month price target is $52.00, with a recent decrease of 2.42%. Mirum Pharmaceuticals, a biopharmaceutical company, has shown significant revenue growth and strong financial performance despite a high debt-to-equity ratio. Analysts' actions reflect market conditions and company performance, with recent updates indicating a positive but cautious outlook.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 1:00 pm