Streetbeat News

Revenues

BABA

CGRO

PGJ

Alibaba Group Holding Ltd's subsidiary, Daraz Group, is set for another round of layoffs amid financial challenges, a year after reducing its workforce by 11%. The layoffs across Pakistan, Bangladesh, Sri Lanka, and Nepal reflect Alibaba's broader strategy to optimize operations within its International Digital Commerce Group. Despite these challenges, Alibaba's international ventures, including Daraz, saw a 44% revenue increase in the December quarter. The Invesco Golden Dragon China ETF and Tidal Trust II CoreValues Alpha Greater China Growth ETF, with close to 8% exposure to Alibaba, gained 7-10% last month. Alibaba's stock traded lower by 3.27% at $75.14.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 5:39 pm

ADIL

IAS

INGN

OGEN

VANI

VTVT

U.S. stocks traded lower with the Nasdaq down 50 points. Real estate shares rose by 1.1%, while health care shares fell by 0.8%. U.S. crude oil inventories increased more than expected. Vivani Medical, Adial Pharmaceuticals, and vTv Therapeutics saw significant stock price increases, while Oragenics, Integral Ad Science, and Inogen experienced notable declines.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 5:25 pm

AAPL

LLY

TSLA

XBI

Biotech, represented by SPDR S&P Biotech ETF (XBI), has experienced a breakout, indicating strong investor conviction. Eli Lilly (LLY) has seen significant gains, highlighting opportunities beyond AI and big tech. Apple (AAPL) has canceled its electric vehicle project to focus on AI, potentially benefiting Tesla (TSLA). Recent GDP data shows strong economic growth with inflation pressure, while consumer confidence suggests a possible market pullback. Early trade money flows show positive sentiment for TSLA, neutral for AAPL and MSFT, and negative for AMZN, GOOG, META, and NVDA. Gold and oil are seeing buying interest, with USO being the popular oil ETF. Bitcoin has surged past $60,000.

Portfolio Pulse from The Arora Report

February 28, 2024 | 5:19 pm

CLVT

Clarivate (NYSE:CLVT) has received mixed analyst ratings over the past three months, with recent adjustments showing a decrease in the average 12-month price target from $9.50 to $8.6, a 9.47% drop. Analysts from Barclays, RBC Capital, and Oppenheimer have adjusted their ratings and price targets, reflecting changing market dynamics and company performance. Despite positive revenue growth of 1.81% for the quarter ending September 30, 2023, Clarivate faces challenges in market capitalization, net margin, ROE, and ROA, all below industry averages.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:01 pm

GTHX

Five analysts have recently updated their ratings on G1 Therapeutics (NASDAQ:GTHX), showing a predominantly bullish outlook with an average 12-month price target of $11.2, up 17.89% from the previous $9.50. The ratings range from 'Buy' to 'Outperform', with price targets varying significantly from $4.00 to $14.00. G1 Therapeutics, a biopharmaceutical company focused on cancer treatment, has seen a -47.83% decline in revenue growth and faces challenges in market capitalization, net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:01 pm

BMBL

In the past three months, 6 analysts have provided varied ratings for Bumble (NASDAQ:BMBL), with a shift towards more positive ratings in the last 30 days. The average 12-month price target is now $16.58, down 4.6% from the previous $17.38. Analysts have adjusted their ratings and price targets in response to market dynamics and Bumble's performance, indicating a nuanced view of its potential. Bumble's financials show strong revenue growth and net margin but below-average ROE and ROA, with a conservative debt management approach.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:00 pm

UNVGY

Universal Music Group N.V. (UMG) reported a FY23 EPS of €0.87, up from €0.80 YoY, with Q4 revenue rising 9% YoY to €3.208 billion. This growth was driven by strong performance across all segments, particularly in recorded music subscription revenue, which grew 8.9% YoY. However, streaming revenue saw a slight decline of 1.3% YoY. Adjusted EBITDA increased by 9.2% YoY to €677 million, with the EBITDA margin remaining stable at 21.1%. Top sellers included Taylor Swift and The Rolling Stones.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 4:53 pm

UNVGY

Universal Music Group N.V. (UMG) reported a Q4 EPS of €0.87, up from €0.80 YoY, with revenue increasing 9% YoY to €3.208 billion. Growth was driven by strong performance across all segments, particularly in recorded music subscription revenue, which grew 8.9% YoY. However, streaming revenue saw a slight decline of 1.3% YoY. Adjusted EBITDA rose 9.2% YoY to €677 million, with the margin steady at 21.1%. Top artists contributing to the success included Taylor Swift and The Rolling Stones.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 4:49 pm

TJX

During a conference call, an executive from TJX Companies projected the company's consolidated sales for the fiscal year to be in the range of $55.6 billion to $56.1 billion.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 4:28 pm

XNCR

Analysts have recently updated their ratings and price targets for Xencor (NASDAQ:XNCR), showing a mix of bullish sentiments but with a decrease in the average 12-month price target from $44.33 to $37.5, indicating a 15.41% decrease. The company, a clinical-stage biopharmaceutical firm, has shown significant revenue growth and strong financial performance, with a notable net margin and ROE. Despite the lowered price targets, Xencor's financial health and market position remain robust.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 4:01 pm