Streetbeat News

Revenues

HD

Home Depot forecasts a 1% sales growth for FY24, including benefits from an extra operating week, with comparable sales expected to decline by 1%. The company plans to open 12 new stores and projects a gross margin of 33.9%, operating margin of 14.1%, and a tax rate of 24.5%. Net interest expense is anticipated to be around $1.8 billion, with the 53rd week contributing approximately $0.30 to diluted EPS, leading to a 1% growth in 53-week diluted EPS.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 11:03 am

ALLE

Allegion projects its FY24 adjusted EPS to be between $7.00 and $7.15, closely aligning with the $7.04 estimate. The company anticipates revenue growth of 1.5% to 3.5% and organic revenue growth of 1% to 3%. Available cash flow is expected to range from $540 to $570 million.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:35 am

TSLA

VGK

EU electric vehicle (EV) registrations in January saw a significant decline of 42.3% month-over-month, according to data cited by Reuters from the European Automobile Manufacturers' Association (ACEA).

Portfolio Pulse from Charles Gross

February 20, 2024 | 9:52 am

BCRX

BioCryst Pharmaceuticals, Inc. (BCRX) announced the launch of ORLADEYO® in Italy for the prevention of hereditary angioedema (HAE) attacks, following reimbursement and recommendation by the Italian Medicines Agency (AIFA). This marks the availability of the first oral, once-daily therapy for HAE patients in Italy.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:48 am

KO

Coca-Cola Co (NYSE:KO) has launched Coca-Cola Spiced, a new permanent flavor targeting younger consumers with a blend of traditional Coca-Cola, raspberry, and spiced flavors. This marks the first permanent addition to Coca-Cola's North American flavor lineup in years, available in both regular and zero-sugar variants. The launch aims to cater to evolving taste preferences and maintain growth momentum, following a 7% year-over-year sales increase reported in Q4 2023.

Portfolio Pulse from Benzinga Neuro

February 20, 2024 | 7:50 am

FET

Forum Energy Technologies (FET) has provided guidance for Q1 2024, expecting revenue between $200M-$220M and adjusted EBITDA between $23M-$27M. The company also forecasts full-year 2024 adjusted EBITDA to be in the range of $100M-$120M with free cash flow between $40M-$60M.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:44 am

EVTL

Vertical Aerospace (NYSE:EVTL) has received a $10 million grant from the UK Government through the Aerospace Technology Institute (ATI) Programme for developing next-generation propellers for its VX4 aircraft. This marks the third project awarded to Vertical by the ATI Programme, totaling $47 million in UK Government grants, signifying strong governmental support for Vertical's vision in pioneering zero emissions aviation.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:18 am

JELD

JELD-WEN Holding has provided its 2024 revenue guidance, projecting net revenues of $4.0 to $4.3 billion, which is slightly below the consensus of $4.27 billion. The company anticipates Adjusted EBITDA to be between $370 million and $420 million. These projections reflect a challenging macro environment in North America and Europe, with core revenues expected to be flat to down 7% compared to 2023. JELD-WEN plans to invest in capital expenditures, amounting to about 4% of sales, and incur non-recurring cash expenses of around $100 million to improve financial results.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:45 am

EWH

China's Hainan province has reduced the minimum down payment for first-time homebuyers to 20% from 25%, following similar measures in Beijing and Shanghai to boost the housing market. Despite these efforts, the overall real estate market faces challenges, with new-home sales remaining subdued. Goldman Sachs' chief China economist, Hui Shan, indicates that the housing downturn in China is ongoing, with real house prices declining by 16% since Q3 2021. The Hong Kong Hang Seng Index, related to offshore Chinese stocks and tracked by the iShares MSCI Hong Kong Index Fund (EWH), dropped over 1% after a previous surge.

Portfolio Pulse from Piero Cingari

February 19, 2024 | 7:30 pm

GFS

INTC

TXN

GlobalFoundries Inc (NASDAQ:GFS) is set to receive $1.5 billion from the CHIPS Act for expanding its New York and Vermont facilities. This marks the first grant under the act aimed at boosting U.S. semiconductor production. Intel (NASDAQ:INTC), Texas Instruments (NASDAQ:TXN), and other companies have also applied for grants. The CHIPS Act, responding to semiconductor shortages and national security concerns, supports domestic chip production to reduce reliance on foreign manufacturing.

Portfolio Pulse from Neil Dennis

February 19, 2024 | 4:39 pm