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Revenues

CNA

CNA Financial reported Q1 2024 sales of $3.444 billion, surpassing the analyst consensus estimate of $2.997 billion by 14.91% and marking a 9.26% increase from the previous year's sales of $3.152 billion.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:35 am

LKNCY

SBUX

VTI

XLY

Former Starbucks CEO Howard Schultz has called for a major overhaul of the company amid a sales slump, citing a need to revamp operations and improve the customer experience. Starbucks faces challenges from inflation, competition in China from Luckin Coffee, and a significant drop in sales due to various factors. The company's second-quarter results fell short of expectations, with a 4% decline in global comparable store sales and earnings missing analyst estimates. Despite these challenges, Schultz remains optimistic about Starbucks' recovery, especially in China. Starbucks stock has declined over 31% in the last 12 months, but shares are trading higher in premarket.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:31 am

NYC

American Strategic Investment Co. (NYSE:NYC), also known as ASIC, announced a new lease agreement for 8,000 square feet in the first quarter, increasing its portfolio occupancy to 87.2%. The company also highlighted a leasing pipeline of approximately 14,000 square feet.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:28 am

IART

Integra LifeSciences has updated its FY24 revenue and adjusted EPS forecasts to $1.672B-$1.687B and $3.01-$3.11, respectively, from prior forecasts of $1.603B-$1.618B and $3.15-$3.25. This update reflects an 8.4%-9.4% reported growth and 3.3%-4.3% organic growth, considering the Acclarent acquisition and a $10M revenue adjustment from SurgiMend and PriMatrix relaunches.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:08 am

L

Loews Corporation reported a Q1 earnings per share (EPS) of $2.05, an increase from $1.61 year-over-year (YoY). Sales also rose to $4.23 billion from $3.78 billion YoY.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:07 am

IART

Integra LifeSciences (IART) updates its Q2 revenue forecast to $411M-$416M, surpassing the $395.8M estimate, with adjusted EPS of $0.60-$0.65, below the $0.75 estimate. For 2024, revenue is expected to be $1.672B-$1.687B with adjusted EPS of $3.01-$3.11, reflecting the Acclarent acquisition and organic growth.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:03 am

IART

Integra Lifesciences reported its Q1 2024 adjusted earnings per share (EPS) at $0.55, which was in line with expectations. However, its sales of $368.872 million exceeded the estimated $361.962 million.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:01 am

AMKBY

A. P. Moller Maersk (OTC:AMKBY), the world's largest container shipping company, announced that disruptions in the Red Sea, caused by attacks from Iran-aligned Houthi militants, are expected to reduce the shipping industry's capacity between the Far East and Europe by 15%-20% in Q2. These disruptions have forced vessels to reroute, leading to longer journey times and increased freight rates. Maersk has leased over 125,000 additional containers to enhance reliability and address the capacity shortage, with disruptions likely to persist until the end of the year.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 9:18 am

EWG

The Germany Services Purchasing Managers Index (PMI) for April was reported at 53.2, slightly below the estimated 53.3 but significantly higher than the previous month's 50.1. This indicates a continued expansion in the service sector, albeit at a slightly slower pace than expected.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:26 am

BYDDY

NIO

XPEV

Chinese EV makers, including SAIC, Chery, Great Wall Motor, and BYD Co., have seen a 40% increase in overseas sales in Q1 2024, reaching 470,000 units. Europe and Asia are the main markets for these exports. BYD Co. leads in NEV overseas sales, followed by SAIC, Geely, Xpeng, and Nio. BYD is adopting a premium pricing strategy in Europe, and Chinese EV makers are exploiting a loophole for exporting 'used' cars to bypass trade barriers.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 6:07 am