Streetbeat News

Revenues

MTB

M&T Bank (NYSE:MTB) reported Q1 2024 earnings of $3.09 per share, meeting analyst estimates but marking a 24.45% decrease from the previous year. Sales were $2.260 billion, slightly missing estimates by 0.12% and showing a 6.03% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 10:21 am

TSLA

Tesla's Q1 U.S. sales were primarily affected by lower sales of its older models, despite a rise in Model Y sales. Overall, Tesla's U.S. sales dropped 13.3% year-on-year to 140,187 vehicles. The decline in Tesla's sales contributed to the first quarter-over-quarter downturn in U.S. EV sales since Q2 2020, despite a 2.6% year-on-year increase in EV sales across brands. Other brands like BMW, Cadillac, Ford, Hyundai, Kia, Lexus, Mercedes, Rivian, and Vinfast saw significant EV sales growth. Cox Automotive forecasts a rise in U.S. EV sales for 2024.

Portfolio Pulse from Anan Ashraf

April 15, 2024 | 8:41 am

PEV

Phoenix Motor Inc. (NASDAQ:PEV), a manufacturer of heavy-duty transit buses and electrification solutions, forecasts Q1 2024 revenue of $8M-$9M, a substantial rise from Q1 2023's $1.8M.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:50 am

GPI

Group 1 Automotive (GPI) has announced a definitive agreement to acquire Inchcape plc's U.K. automotive retailing business, including 54 dealership locations and related real estate, for $439 million in cash. The acquisition, subject to Financial Conduct Authority approval, is expected to close in Q3 2024. Inchcape U.K. dealerships generated $2.7 billion in annual revenues in 2023.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:37 am

INDA

India's Wholesale Price Index (WPI) inflation for March was reported at 0.53%, slightly above the estimated 0.51% and significantly higher than the previous month's 0.20%.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:34 am

BHVN

Biohaven showcased its neuroscience portfolio at the 2024 AAN Annual Meeting with 20 presentations, including novel treatments for neurological and neuropsychiatric disorders. Highlights include the presentation of BHV-1300, a Molecular Degrader of Extracellular Proteins (MoDE™) technology, and safety and efficacy data for several other compounds such as BHV-7000 and troriluzole. The FDA granted 'rare pediatric disease' designation for taldefgrobep alfa for spinal muscular atrophy, potentially leading to a priority review voucher.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:18 am

AAPL

Apple Inc. (NASDAQ:AAPL) has collaborated closely with Taylor Swift on her upcoming album 'The Tortured Poets Department,' set for release on April 19, 2024. Apple Music's teams have been engaged in the album's promotional campaign, including curating playlists and making subtle lyric changes to promote the album. Swift, named Apple Music's artist of the year for 2023, has shown significant influence in the music industry, with her music contributing to a 10.2% growth in global recorded music revenue in 2023. This collaboration highlights Apple's strong relationship with artists and its impact on the music streaming landscape.

Portfolio Pulse from Ananya Gairola

April 15, 2024 | 4:59 am

SHIBUSD

Shiba Inu (SHIB) experienced a significant liquidation event with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated amid a market downturn. Despite a 12.17% price drop in the last day, large transactions surged by 276.29%, and trading volume increased to $1,199,915,774. Over 12,000 addresses hold at least 1 billion SHIB, with 73% of investors holding for over a year, indicating strong investor confidence and potential for recovery.

Portfolio Pulse from Bibhu Pattnaik

April 13, 2024 | 4:31 pm

KULR

KULR Tech Gr reported Q4 earnings with EPS of $(0.04), meeting analyst estimates, but missed revenue expectations with $2.33M against a $3.81M forecast. This represents a 28.74% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:58 pm

TSLA

Tesla has reduced the monthly subscription cost of its Full Self-Driving (FSD) package to $99 from the previous $199. This move could potentially increase the adoption rate of FSD among Tesla owners, impacting Tesla's revenue from subscriptions.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:15 pm