Streetbeat News

Revenues

CNTMF

Cansortium Inc. (CNTMF), operating under the FLUENT brand, reported a 9% increase in Q4 2023 revenues to $25.5 million and a reduced net loss of $4.7 million. The company saw significant growth in Florida, with an 11% revenue increase to $21.6 million. Gross profit margin improved to 52.2%, but adjusted EBITDA decreased slightly due to higher SG&A expenses. The full year results also showed improvement, with an 11% revenue increase to $97.3 million and a reduced net loss of $22.8 million. Cansortium's shares closed 1.44% higher at 16 cents.

Portfolio Pulse from Nina Zdinjak

April 30, 2024 | 1:54 pm

CMGEF

HUYA

NTES

CMGE Technology Group Ltd. (OTC:CMGEF) announced a partnership with Guangzhou Chaojing Investment to tap into the e-sports market, aiming to leverage Chaojing's strong position in e-sports. This move comes as China's gaming sector sees renewed investor interest, with CMGE's stock rising 3.2% on the announcement and 30% over the past week. The partnership focuses on game development, operation, and promotion, targeting China's booming e-sports market and aiming for international expansion. CMGE's financial performance shows signs of recovery, with a modest adjusted profit in 2023 after a loss in 2022, amidst a broader rally in Chinese gaming stocks.

Portfolio Pulse from The Bamboo Works

April 30, 2024 | 1:46 pm

AAPL

FINX

IPAY

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) reported a 9% year-over-year revenue growth to $7.7 billion in the fiscal first quarter, surpassing the consensus estimate of $7.5 billion but missing EPS estimates with $1.08 per share against an expected $1.22. Total payment volumes rose 14% to $403.9 billion, despite a 1% decrease in total active accounts to 427 million. The company saw an operating margin expansion to 18.2% and forecasts a 6.5%-7% revenue increase for Q2. PayPal anticipates a mid to high single-digit percentage increase in full-year 2024 adjusted EPS. The company faces competitive pressure from Apple Inc (NASDAQ:AAPL) but remains focused on strategic initiatives and cost savings. PayPal's stock has declined by 11% over the past year but recently saw a 5.81% increase to $70.90.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 1:33 pm

MCD

McDonald's Corp (NYSE:MCD) reported a Q1 FY24 sales growth of 4.6% to $6.17 billion, slightly above analyst expectations but saw its shares slide due to an adjusted EPS of $2.70 missing estimates by $0.02. Global comparable sales increased by 1.9%, with U.S. sales up 2.5%. Operating income rose 8% to $2.7 billion. The company anticipates a mid-to-high 40% operating margin for FY24 and plans to open about 2,100 restaurants globally.

Portfolio Pulse from Shivani Kumaresan

April 30, 2024 | 1:32 pm

OP

OceanPal Inc. (NASDAQ:OP) announced a new time charter contract for its Capesize dry bulk vessel, the m/v Baltimore, with Richland Bulk Pte. Ltd., at a rate of $22,000 per day until between September 15, 2024, and November 15, 2024. The current charter rate is $13,500 per day. Additionally, OceanPal Inc. has agreed to sell the m/v Baltimore for $18.25 million, with delivery by November 20, 2024. This sale will leave OceanPal with a fleet of 4 dry bulk vessels.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:25 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS) has announced a $3.4 million drone sale to the French Army, marking the company's largest single purchase order. The deal includes 40 eBee VISION systems and other equipment, tailored for intelligence, surveillance, and reconnaissance missions. This contract is expected to significantly boost AgEagle's revenue for fiscal year 2024 and underscores the company's growth strategy in the defense sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:24 pm

AREB

American Rebel Holdings, Inc. has been granted a license to distribute its American Rebel Beer in Tennessee, marking a significant expansion for the company's product line into new markets.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:18 pm

KO

Coca-Cola Company (NYSE:KO) reported a 3% year-on-year sales growth for the first quarter of FY24, reaching $11.3 billion and surpassing analyst expectations. The company saw a 2% decline in concentrate sales but a 13% increase in price/mix, with unit case volume growing by 1%. Organic revenues rose by 11%, with significant growth in Europe, Middle East, and Africa (15%) and North America (7%). Gross profit increased by 6% to $7.065 billion, though operating income fell by 36% to $2.14 billion. Adjusted EPS of $0.72 beat estimates, and operating cash flow saw a significant increase. Coca-Cola raised its FY24 organic revenue growth outlook to 8%-9% and its comparable currency neutral EPS growth outlook to 11%-13%. Despite the positive financial performance and outlook, KO shares dropped slightly by 0.18% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 30, 2024 | 1:08 pm

TREE

Lending Tree projects its Q2 2024 revenue to be between $175M and $190M, surpassing the estimated $168.325M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:02 pm

DCPH

Deciphera Pharmaceuticals (NASDAQ:DCPH) has received mixed analyst ratings over the last three months, with a shift towards a more neutral stance in recent evaluations. Five analysts have provided ratings, with the latest 12-month price target averaging $23.24, marking a significant increase from the previous $17.75. The company's financial performance shows a solid revenue growth rate of 32.88% as of December 31, 2023, but it trails behind industry peers in the Health Care sector. Despite a high net margin of -97.71%, Deciphera faces challenges with below-average ROE and ROA, indicating potential inefficiencies in utilizing equity and assets.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 1:01 pm