Streetbeat News

Revenues

IMOS

ChipMOS reported a Q1 2024 revenue of $169.7M, up 17.7% YoY but down 5.4% from Q4 2023. March 2024 revenue rose to $60.5M, marking a 5.2% increase YoY and 8.8% from February 2024. The company attributes growth to inventory stabilization and demand recovery in memory products.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 10:17 am

BCLI

Brainstorm Cell Therapeutics announced the publication of Phase 3 biomarker data in muscle and nerve, suggesting that Debamestrocel (NurOwn) may impact key biomarkers in Amyotrophic Lateral Sclerosis (ALS) predictive of disease progression. This development could signify a potential breakthrough in ALS treatment.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 10:02 am

RDNT

RadNet has signed a definitive agreement to acquire assets of six imaging centers in the Greater Houston, Texas area, currently operating under the American Health Imaging brand. This acquisition, expected to close by the end of Q2 2024, will increase RadNet's presence in Houston to 13 centers. The centers offer services like MRI, CT, mammography, ultrasound, and x-ray. Post-acquisition, the centers will be rebranded to Houston Medical Imaging. RadNet expects the acquisition to add over 100,000 procedures and $15 million in annual revenue.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 10:01 am

XPEV

XPeng Inc (NYSE:XPEV), a Chinese EV maker, is experiencing stock gains due to its expansion in Hong Kong through a dealer partnership with Sime Darby Motors. This move is part of XPeng's global expansion strategy, leveraging Hong Kong's international business hub status. The company plans to introduce its latest EV models, including the G6 and X9, in mid-May with deliveries starting in Q3. Additionally, XPeng is expanding into Macau with XIN KANG HENG HOLDING LTD, planning to offer multiple models. As of the end of 2023, XPeng's cumulative delivery volume exceeded 400,000, with over 140,000 vehicles delivered in 2023. In March 2024, XPeng reported a 99% increase in Smart EV deliveries over the previous month and a 29% year-over-year increase. XPEV shares rose 3.35% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 9:55 am

BYDDF

FXI

LI

NIO

TSLA

XPEV

China's vehicle sales in March increased by 9.9% year-over-year, a significant improvement from the 19.9% decline in February. Sales of new energy vehicles (NEVs) surged by 35.3% year-over-year, according to the China Association of Automobile Manufacturers.

Portfolio Pulse from Charles Gross

April 10, 2024 | 9:19 am

AAPL

Apple Inc. has significantly increased its iPhone production in India to $14 billion in the last fiscal year, doubling its output and reducing its reliance on China. This shift accounts for nearly 14% of Apple's flagship phones now being produced in India, a move that aligns with Prime Minister Narendra Modi's push for high-end manufacturing in the country. Foxconn and Pegatron are leading this production effort, with Tata Group also playing a key role through its facility in Karnataka.

Portfolio Pulse from Shomik Sen Bhattacharjee

April 10, 2024 | 9:01 am

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) reported a Q1 2024 revenue of $18.5B (NT$195.2B), marking a 16.5% increase YoY, slightly above the $18.4B estimate. March 2024 revenue alone saw a 34.3% increase from March 2023.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 7:33 am

QSR

THCH

Tims China, the operator of Tim Hortons coffee shops and Popeyes restaurants, has surpassed 20 million loyalty club members, indicating strong brand loyalty and potential for increased sales.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 6:43 am

IMRN

WMT

Immuron Limited (ASX: IMC, NASDAQ:IMRN) reported record unaudited sales for its product Travelan, showing significant growth globally, in Australia, and the USA. Sales figures for FYTD Mar 2024 and the Mar 2024 Quarter have seen substantial increases compared to previous periods. Notably, sales in the USA included commencement on Walmart.com.

Portfolio Pulse from Charles Gross

April 10, 2024 | 1:01 am

MC

Analysts have varied opinions on Moelis (NYSE:MC), with recent ratings ranging from indifferent to bearish. The average 12-month price target for MC has increased to $54.0, up from $48.33. Analyst actions include adjustments to ratings and price targets by firms such as UBS, Goldman Sachs, JP Morgan, and Keefe, Bruyette & Woods. Moelis, an independent investment bank, has shown a revenue growth of 3.71% but struggles with profitability and efficiency metrics compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 9:01 pm