Streetbeat News

Revenues

AZZ

AZZ has reiterated its fiscal year 2025 guidance, projecting revenues of $1.525 billion to $1.625 billion, aligning with a consensus of $1.57 billion. The company also expects adjusted earnings per share (EPS) to be between $4.50 and $5.00, closely matching the consensus estimate of $4.77.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 10:29 am

GROY

Gold Royalty Corp. (GROY) reported a significant increase in its preliminary Q1 revenue for 2024, reaching $2.9M compared to $0.77M in the same quarter of the previous year. The total revenue, including land agreement proceeds and interest, was $4.2M, representing 2,019 gold equivalent ounces (GEOs). This marks a 112% increase from Q1 2023. The company is on track to achieve its FY24 revenue target of $10.0M-$11.2M, based on a gold price of $2,000 per ounce.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 10:20 am

BITDIGITAL

CORE

HIVE

HUT

TERAWULF

Bitcoin miners are adopting artificial intelligence (AI) to counter the revenue dip expected from the recent halving event, which reduced the reward for mining new blocks. Companies like Core Scientific are investing in AI and new mining rigs to create alternative revenue streams. The industry anticipates a shift towards AI in locations with secure energy sources, with companies such as BitDigital, Hive, Hut 8, Terawulf, and Core Scientific leading the way. The halving has also led to a decrease in Bitcoin transaction fees to a five-year low, despite reducing miners' revenue by 50%.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 4:50 am

AAPL

Bloomberg's Mark Gurman suggests Apple Inc. (AAPL) should lower iPhone prices to address slowing sales and challenges in China, including a ban on foreign brands and consumer preference for local technology. After a 13% drop in China sales, Apple faces pressure to attract new users and encourage upgrades. Gurman proposes a cheaper iPhone model to penetrate emerging markets, despite concerns about diluting Apple's premium brand. Apple plans to upgrade the iPhone SE in 2025 with a potential price above $400, but Gurman recommends a $250 price point for significant impact.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 4:36 pm

MRMD

At the Benzinga Cannabis Capital Conference in Florida, industry leaders, including MariMed's CEO John Levine, discussed strategies for scaling cannabis businesses amidst challenges. Levine highlighted MariMed's focus on strategic expansion through vertical integration and mergers. Seth Yakatan emphasized the importance of focusing on core strengths for cash flow, while Alex Gray of Good Day Farm advocated for efficiency and cost reduction. The panel also addressed the hurdles of raising capital, supply chain complexities, and the need for market-specific adaptations. A shift in investor attitudes towards valuing sustainable growth over rapid expansion was noted.

Portfolio Pulse from Nicolás Jose Rodriguez

April 21, 2024 | 2:53 pm

LUXX

NBCC

NKE

Nike, Inc. (NYSE:NKE) plans to cut approximately 740 jobs at its Oregon headquarters as part of a cost-saving initiative aiming to trim $2 billion in expenses over three years, in response to a projected revenue decline in the first half of fiscal 2025. This follows an earlier announcement of over 1,600 job cuts, about 2% of its workforce. Amid these cuts, Nike is finalizing a significant endorsement deal with WNBA draft first pick Caitlin Clark. The company's stock has lost over 24% in the past year, and investors can gain exposure to NKE through ETFs like NBCC and LUXX.

Portfolio Pulse from Nabaparna Bhattacharya

April 20, 2024 | 7:46 pm

BTCUSD

The Bitcoin network experienced its fourth halving, reducing the mining reward from 900 to 450 Bitcoin per day, potentially impacting miners' revenue by billions. Despite the halving, Bitcoin's price remained stable around $64,000. The event also led to a significant increase in transaction fees. This halving is part of Bitcoin's strategy to prevent inflation and maintain its cap at 21 million tokens. The mining sector may see consolidation, favoring publicly traded companies with better resources.

Portfolio Pulse from Bibhu Pattnaik

April 20, 2024 | 2:41 pm

AAWH

AYRWF

CRLBF

CURLF

GTBIF

MRMD

TCNNF

This 4/20, cannabis retailers anticipate record sales, with brands like MariMed's Betty’s Eddies, Cresco's High Supply, Ascend Wellness's Simply Herb, and others leading in various states. The article highlights market leaders in the East, Midwest, California, Nevada, Florida, and New York, with a focus on companies like AYR Wellness, Curaleaf Holdings, Green Thumb Industries, and Trulieve. The pre-roll segment and the competitive landscape in each state are also discussed, indicating a highly anticipated sales surge.

Portfolio Pulse from Nicolás Jose Rodriguez

April 20, 2024 | 1:54 pm

ASML

NVDA

QQQ

SMCI

TSM

Elon Musk mocked Nvidia's 10% stock decline, which resulted in a $211 billion market cap loss, calling it 'rookie numbers'. This decline contributed to a record $950 billion loss in market cap for the 'Magnificent 7' tech stocks, including Tesla and Nvidia, over the last week. The Nasdaq 100 index, tracked by Invesco QQQ Trust, saw its worst week since October 2022, dropping 5.3%. Nvidia's fall was part of a broader tech stock downturn, influenced by poor earnings from ASML and a bleak chip market outlook from TSM, despite TSM's revenue growth.

Portfolio Pulse from Rounak Jain

April 20, 2024 | 5:28 am

MAPS

Weedmaps (NASDAQ:MAPS) reports significant consumer trends ahead of 4/20, highlighting a substantial increase in sales, orders, and consumer engagement on the platform. Data shows a 200% surge in deal redemptions, a 100% increase in deal claims, and notable price reductions across cannabis products. The average order value rose to $96.22, a 14% increase, with a 25% increase in items per basket. Vape pens, edibles, and cannabis flowers saw significant growth in orders, particularly among Gen Z and consumers aged 50+.

Portfolio Pulse from Rolando García

April 19, 2024 | 10:44 pm