Streetbeat News

Revenues

ERMAF

Argentina's lithium reserves are attracting significant foreign investment, seen as a key to economic recovery. Eramet's subsidiary Eramine announced an $800 million investment in Salta for lithium production, expected to export 4,000 tons in 2024, scaling to 24,000 tons annually. Additionally, United Mining Projects Corporation's subsidiary Marhen Lithium plans a $550 million investment in Catamarca, estimated to create 900 jobs and contribute $168 million locally. These projects come as Argentina faces economic challenges, with the IMF forecasting a 2.8% GDP contraction in 2024 but a potential turnaround with reduced inflation by 2025.

Portfolio Pulse from Stjepan Kalinic

April 22, 2024 | 1:56 pm

AREB

American Rebel has reached a distribution agreement for its American Rebel Beer, expanding its market presence and potentially increasing its revenue streams.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:27 pm

TFC

Truist Financial Corporation (TFC) announced during their conference call that they expect their net interest income to reach its lowest point in the second quarter.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:19 pm

CAH

EVR

MCK

Evercore has reported that McKesson has secured a contract with OptumRX starting in July, according to Bloomberg. This development is significant for McKesson, indicating a potential boost in its business operations and future revenue streams.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:18 pm

EDBL

Edible Garden AG Incorporated (EDBL) announced it has regained compliance with Nasdaq's minimum bid price requirement, emphasizing the importance of its Nasdaq listing for credibility and visibility. The company remains optimistic about its future, highlighting its expanding retail network, diverse product line, and strict cost management as foundations for accelerated revenue growth and a strategy to become cash flow positive.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:16 pm

INFA

Informatica (INFA) has updated its Q1 2024 financial outlook, expecting GAAP Total Revenues, Subscription ARR, Cloud Subscription ARR, and Non-GAAP Operating Income to be within the upper half of its previously provided guidance. The company also anticipates Adjusted Unlevered Free Cash Flow to significantly exceed 100% of Non-GAAP Operating Income and has reaffirmed its full-year 2024 financial outlook. Q1 2024 results will be announced on May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:14 pm

CAH

UNH

Cardinal Health, Inc. (NYSE:CAH) announced it will not renew its pharmaceutical distribution contracts with OptumRx, a subsidiary of UnitedHealth Group Inc (NYSE:UNH), expiring end of June 2024. Despite this, Cardinal Health reaffirmed its fiscal 2024 EPS guidance and long-term profit growth targets. Sales to OptumRx accounted for 16% of Cardinal's revenue in fiscal 2023, with the majority being non-specialty bulk shipments. The company expects to offset the OptumRx impact through new customer wins and specialty growth, aiming for an average adjusted free cash flow of $2 billion from fiscal 2024 to 2026. CAH shares dropped 4.32% in premarket trading following the announcement.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 1:10 pm

MNDR

Mobile-health Network Solutions (MNDR) anticipates a 100% increase in revenue to $6M for H12024 compared to $3M in H12023, driven by a 98.3% increase in monthly telemedicine services. The company attributes this growth to the rising demand for telemedicine in the Asia-Pacific region, particularly in Singapore, where the penetration rate is estimated at 15% in 2023. Co-CEO Dr. Rachel Teoh Pui Pui highlights the potential for continued growth in Singapore due to an aging population and plans for geographical expansion.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:10 pm

NWBI

Northwest Bancshares (NASDAQ:NWBI) reported Q1 earnings of $0.23 per share, meeting analyst estimates but marking an 11.54% decrease from last year. Sales were $103.24M, missing estimates by 1.71% and down 8.20% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:08 pm

FRGT

Freight Technologies, Inc. (FRGT) reported Q1 2024 revenue of $4.3M, a 30% increase over the previous year, with Fr8Fleet volume growing 25% sequentially over Q4 2023. The company is expanding its credit facility from $5M to $6M to support working capital and further development of its Fr8App platform. FRGT is forecasting 2024 annual revenue of $25M to $30M, driven by strong demand for domestic and cross-border freight services within the USMCA region.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:06 pm