Streetbeat News

Revenues

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

YY

JOYY Inc. reported a 4.5% year-over-year increase in Q4 average mobile MAUs for Bigo Live, reaching 38.4 million. However, Likee and Hago saw declines in MAUs due to reduced ad spending. Overall, global mobile MAUs rose by 2.6% to 274.9 million. The total number of paying users for BIGO services increased by 7.9% to 1.67 million, although the average revenue per paying user slightly decreased.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:03 am

YY

JOYY Inc. forecasts its Q1 2024 net revenues to range between $543M and $560M, falling short of the consensus estimate of $579.45M. The company attributes this outlook to current market conditions, operational factors, and business strategies, while also noting the potential impact of growing macroeconomic uncertainties.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:59 am

VRNOF

Several cannabis companies, led by Verano Holdings (OTC:VRNOF), are challenging the federal ban on marijuana, arguing that the landscape has changed significantly since many states have legalized marijuana. The lawsuit aims to counter the government's attempt to dismiss the case, citing the reduction in illicit interstate commerce due to state-regulated access. Verano Holdings is highlighted for its standout performance in the cannabis sector, with notable growth in states like Florida, despite challenges in others like Illinois and New Jersey. The company's valuation stands at $2.1 billion, with a 16% stock increase over the last 90 days.

Portfolio Pulse from Nicolás Jose Rodriguez

March 19, 2024 | 1:47 am

NCMI

National CineMedia (NCMI) anticipates its Q1 total revenue to be between $34.5M and $35.5M, surpassing the estimated $32.47M.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:18 pm