Streetbeat News

Revenues

VGK

The Eurozone ZEW Economic Sentiment index for March showed a significant increase to 33.5, surpassing both the estimated value of 25.4 and the previous month's figure of 25.0. This indicates a more optimistic outlook among investors and analysts regarding the economic situation in the Eurozone.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:54 am

CAL

Caleres projects its Q1 FY24 net sales to range from flat to a 1% increase compared to the previous year. The company also anticipates its adjusted EPS for Q1 FY24 to be consistent with the figures from Q1 FY23.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:51 am

AAPL

GOOGL

U.S. markets closed higher, led by growth stocks like Alphabet and Tesla. An anticipated AI agreement between Alphabet Inc. and Apple Inc. to integrate Google's Gemini AI engine into the iPhone was a key highlight. The NAHB/Wells Fargo Housing Market Index rose to 51, its highest in eight months. Asian markets were mixed, with Japan's Nikkei 225 and Australia's S&P/ASX 200 up, while India's Nifty 50 and China's Shanghai Composite declined. European markets saw gains, except for the U.K.'s FTSE 100. Commodities and U.S. futures varied, with crude oil slightly down and the U.S. Dollar Index up.

Portfolio Pulse from Akanksha Bakshi

March 19, 2024 | 10:44 am

STRW

Strawberry Fields REIT reported its FY23 revenue at $99.8 million, marking a 7.8% increase year-over-year, although it fell short of the estimated $101.9 million. The company also announced an adjusted Funds From Operations (FFO) of $52.7 million.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:41 am

UL

Unilever plc (NYSE:UL) announced plans to separate its Ice Cream business, including top brands like Wall's, Magnum, and Ben & Jerry's, aiming for a more focused growth by operating in four Business Groups. The separation, part of its Growth Action Plan, is expected to complete by end of 2025, alongside a productivity program expected to save €800 million over three years. This strategic move is anticipated to impact 7,500 roles globally and aims for mid-single-digit sales growth and modest margin improvement post-separation.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 10:16 am

NVO

Oprah Winfrey aired a prime-time special discussing the stigma around weight loss drugs like Ozempic and Wegovy, sharing personal experiences and highlighting the challenges and side effects associated with these medications. The special also touched on the global obesity crisis and the role of medications in its management. Novo Nordisk A/S, the producer of Ozempic and Mounjaro, was mentioned in the context of the increasing conversation around obesity treatments and the company's efforts to combat supply shortages and counterfeit medications.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 10:16 am

XPEV

XPeng forecasts Q1 2024 revenue between RMB5.8B-RMB6.2B, marking a 43.8%-53.7% YoY increase, and vehicle deliveries of 21K-22.5K, up by 15.2%-23.4% YoY.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:15 am

BTCUSD

Bitcoin experienced a dramatic drop to $8,900 on BitMEX, diverging from its $67,400 average global price. The flash crash was followed by a swift recovery. Concerns over market exuberance after spot ETF approvals and a spike in futures market volatility were noted. Grayscale and Fidelity Bitcoin ETFs saw significant outflows, with a collective net outflow of $154.3 million for spot Bitcoin ETFs. BitMEX addressed the crash, attributing it to aggressive selling by a few accounts but assured that all systems were normal and funds safe.

Portfolio Pulse from Mehab Qureshi

March 19, 2024 | 9:21 am

TME

Tencent Music Entertainment Group (TME) reported Q4 adjusted EPS of $0.14, meeting consensus estimates, and sales of $971M, beating estimates of $931.97M. This represents a 7.69% increase in EPS and a 9.84% decrease in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:08 am

EGRNQ

China's Evergrande Group (OTC:EGRNQ) faces a $78 billion fraud accusation, with its founder Hui Ka Yan in legal peril. The company's onshore unit, Hengda, was fined $581 million by the China Securities Regulatory Commission for inflating revenue leading up to its 2020 default. This situation highlights the severity of China's real estate crisis and its impact on the economy, amid broader economic challenges and recent industrial growth.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 6:58 am