Streetbeat News

Revenues

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

NVO

Almirall has acquired exclusive worldwide rights to develop and market Novo Nordisk's NN-8828 monoclonal antibody for dermatological inflammatory diseases. Novo Nordisk will receive an upfront payment, additional development and commercial milestone payments, and tiered royalties based on future global sales.

Portfolio Pulse from Charles Gross

February 19, 2024 | 3:52 pm

NIO

TSLA

XPEV

Xpeng Inc. (NYSE:XPEV) plans to hire 4,000 employees in 2024, a 25% workforce increase, and invest $486.36 million in AI for intelligent driving, aiming to launch 30 new products in three years. Despite a tough market, Xpeng is optimistic about 2024. Meanwhile, Tesla Inc. (NASDAQ:TSLA) leads discounting in China, and Nio Inc. (NYSE:NIO) cut its workforce by 10% to improve efficiency.

Portfolio Pulse from Benzinga Neuro

February 19, 2024 | 12:46 pm

ANET

DIS

NVDA

PANW

TSLA

The article discusses the end of a five-week winning streak for major indexes due to unexpectedly high inflation data, influencing market expectations for Federal Reserve rate cuts. It highlights bullish and bearish perspectives on stocks like Tesla, Nvidia, Disney, and AI-related companies Palo Alto Networks and Arista Networks, as well as a prediction for Dogecoin. Concerns over inflation, market peaks, and corporate governance issues at Disney are also mentioned.

Portfolio Pulse from Michael Cohen

February 17, 2024 | 2:22 pm

MSFT

OpenAI, the company behind ChatGPT, has been valued at $86 billion after finalizing an agreement allowing employees to sell their shares. The deal, led by Thrive Capital, comes after a delay due to the temporary ousting of CEO Sam Altman. OpenAI is considering raising new funding at a valuation over $100 billion and has secured $13 billion from Microsoft and others. The company's success with ChatGPT and new ventures like Sora, a text-to-video generator, highlight its rapid growth and potential to disrupt the tech industry.

Portfolio Pulse from Ananya Gairola

February 17, 2024 | 4:07 am