Streetbeat News

Revenues

EWU

The U.K. Claimant Count Change for January was reported at 14.1K, lower than the estimated 15.2K but higher than the previous 5.5K. This indicates a rise in the number of people claiming unemployment benefits in the U.K.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 7:04 am

XPRO

Expro has agreed to acquire Coretrax, an Aberdeen Scotland-based company, for $210M to expand its Well Construction & Intervention Solutions. The deal includes at least $75M in cash and up to 6.75M newly issued Expro common shares, with the option for Expro to increase the cash component. The acquisition, expected to close in Q2 2024, is valued at approximately 4.7x Coretrax's estimated 2024 Adjusted EBITDA. Expro aims for up to $10M in annual cost synergies within 18 months and plans to leverage Coretrax's technology across various regions.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 6:51 am

SPY

Paul Krugman highlighted the optimism in Americans' personal financial situations based on the New York Federal Reserve's January consumer expectations survey. The survey showed an increase in consumers expecting their financial situation to improve, reaching the highest level since March 2020. This optimism comes despite economic challenges such as rate hikes, job cuts, and inflation. The SPDR S&P 500 ETF Trust (SPY) saw a slight decrease in its value, ending the session at $500.98.

Portfolio Pulse from Shanthi Rexaline

February 13, 2024 | 6:42 am

AAPL

Wedbush analyst Dan Ives remains optimistic about Apple Inc.'s (AAPL) future in China despite a revenue decline in the region, as reported in Apple's first-quarter earnings. The earnings showed an overall year-over-year increase, surpassing market expectations, but highlighted a 12.9% revenue drop in China due to competition and strained U.S.-China relations. Despite these challenges, Apple's stock has risen by 50% in 2023, with Ives predicting a potential $4 trillion market cap in 2024.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 3:03 am

BYDDF

TSLA

Tesla Inc (NASDAQ:TSLA) reported an unexpected $1.79 billion in revenue from regulatory-credit sales in 2023, according to a recent SEC filing. This revenue, stemming from other automakers' failure to meet emission regulations, was not anticipated to grow, as per Tesla's expectations. Despite facing increasing competition, particularly from China's BYD Co. Ltd. (OTC:BYDDF), which has overtaken Tesla as the world's leading EV seller, Tesla continues to benefit from this revenue stream. The company's Q4 revenue was $25.17 billion, a 3% increase year-over-year, but missed the Street consensus estimate of $25.62 billion.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 1:41 am

CBSTF

RWBYF

SHWZ

Cannabis sales in Colorado and Michigan have declined, with Colorado experiencing its lowest sales year since 2017 and Michigan facing a 13.5% drop in January sales despite a record December. Virginia is advancing towards retail marijuana sales with the passing of HB698, aiming for a January 1, 2024 start. Key players in these markets include Schwazze, Red White & Bloom Brands, TerrAscend, 4Front, Ascend Wellness Holdings, Cresco, Verano, The Cannabist Company Holdings, Green Thumb Industries, and Jushi Holdings.

Portfolio Pulse from Nicolás Jose Rodriguez

February 12, 2024 | 11:57 pm

WM

Waste Management forecasts a 6%-7% revenue growth for 2024, with adjusted operating EBITDA expected to range between $6.275 to $6.425 billion. This includes an increase of approximately $450 million at the midpoint, incorporating about $115 million from sustainability growth investments.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:10 pm

BB

BlackBerry has reaffirmed its total company revenue forecast to be between $150M-$159M, aligning with the estimated $153.85M. Additionally, the company expects its Cybersecurity Annual Recurring Revenue (ARR) to stabilize in the current quarter.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:54 pm

GPI

Group 1 Automotive (GPI) has acquired RRR Automotive Group, expanding its presence in the Greater Baltimore/Washington DC area. The acquisition includes several dealerships and collision centers, expected to generate over $500 million in annual revenues. Concurrently, GPI disposed of 10 franchises and a collision center in Beaumont, Texas, aligning with its strategy to focus on larger, higher performing dealerships.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:28 pm

PXDT

Pixie Dust Technologies reported a significant increase in its H1 2024 revenue, reaching ¥299.1M, up from ¥158.6M in the previous year, indicating strong growth.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 9:52 pm