Streetbeat News

Revenues

HTOO

Fusion Fuel Green projects its FY24 revenue to be €34M, based on €7M in signed contracts and €27M in negotiations. Engineering Services is expected to contribute €12M to this target.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 11:36 am

UMC

United Microelectronics Corporation (NYSE:UMC) reported a 3.07% year-over-year decrease in February sales, totaling NT$17.45 billion. The January-February period saw a slight revenue drop of 0.15% to NT$36.464 billion, with February revenues falling 8.2% from January. UMC anticipates a 2%-3% increase in Q1 wafer shipments but expects a 5% decrease in ASP in USD. The company plans a $3.3 billion capex for 2024 and forecasts capacity utilization in the low 60% range. UMC's shares fell 1.29% to $7.64 on Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 11:13 am

HMC

MZDAY

Toyota Motor Corp (NYSE:TM) is expected to present a pay hike offer to its workers' union on March 13, amid ongoing wage negotiations without an initial offer. The union seeks a 7.6-month bonus and an undisclosed wage increase. This negotiation is part of Japan's annual spring wage talks, with significant implications for the country's economy and monetary policy. Honda Motor Co Ltd (NYSE:HMC) and Mazda Motor Corp (OTC:MZDAY) have already agreed to wage increases, aligning with Prime Minister Fumio Kishida's push for wage growth to surpass inflation.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 10:43 am

YSG

Yatsen Holding Limited forecasts its Q1 FY2024 sales to be between RMB765.4 million and RMB803.7 million, indicating a 0% to 5% year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 10:16 am

EWU

The S&P Global / CIPS U.K. Construction Purchasing Managers Index (PMI) for February was reported at 49.7, surpassing the estimated 49.0 and the previous month's 48.8. This indicates a slight improvement in the U.K. construction sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:34 am

AAPL

Apple Inc (NASDAQ:AAPL) faces a potential 5% share price drop due to decreased demand in China and a European Commission fine, according to Jim Cramer. Despite these challenges, including a 24% drop in iPhone sales in China and a nearly $2 billion EU fine, Cramer advises holding Apple shares. Apple aims to counteract these setbacks with AI-integrated iPhones.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 8:55 am

UMC

United Microelectronics Corporation (UMC) reported a 3.07% year-over-year increase in February 2024 revenue, reaching NT$17.45M. However, the combined revenue for January and February 2024 slightly declined by 0.15% compared to the same period in 2023.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:04 am

AAPL

ANF

CPB

GTLB

INFN

THO

The CNN Money Fear and Greed index indicated a shift to 'Greed' with a reading of 74.3, down from 78.2. The Dow Jones fell over 400 points, and the S&P 500 and Nasdaq also closed lower. Apple Inc's shares dropped 2.8% due to a 24% decline in iPhone sales in China. GitLab Inc. saw a 21% decrease in its shares after providing lower-than-expected earnings guidance. U.S. factory orders and ISM services PMI both declined. Investors are looking forward to earnings results from Abercrombie & Fitch, Campbell Soup, THOR Industries, and Infinera Corporation.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 7:29 am

BYDDF

BYDDY

TSLA

BYD (OTC:BYDDF) (OTC:BYDDY), a rival to Tesla, has reduced the price of its Seagull EV model in China by 5.4%, setting the new price at approximately $9,696. This move is part of BYD's strategy to compete in the fiercely competitive Chinese EV market, where it faces competition from both domestic and international companies like Geely Auto and Tesla. The price reduction follows a 37% YoY drop in BYD's sales in February, despite growth in 2023 and January 2024.

Portfolio Pulse from Anan Ashraf

March 06, 2024 | 7:06 am

EGHT

King Power has implemented 8x8's SMS API solution to enhance its e-commerce operations, leading to a reduction in operational costs. This strategic move is aimed at improving customer communication and streamlining processes.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:03 am