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Revenues

PH

Analysts have mixed views on Parker Hannifin (NYSE:PH), with recent ratings showing a shift towards a more bullish stance. The average 12-month price target has been raised to $528.57, indicating a 7.3% increase from the previous target. Parker Hannifin's financial performance is strong, with notable revenue growth and net margin, but it faces challenges in ROA and higher debt levels. Analysts' actions and price target adjustments reflect their response to market conditions and company performance.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 2:00 pm

EL

Estee Lauder (NYSE:EL) shares surged premarket after reporting Q2 FY24 results that exceeded expectations, with a sales decline of 7% Y/Y to $4.279 billion, surpassing analyst estimates. The company also announced a quarterly dividend of $0.66 per share and revised its FY24 outlook. Additionally, Estee Lauder is expanding its Profit Recovery Plan, aiming for significant operating profit increases by FY26.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 1:56 pm

ARCT

Arcturus Therapeutics announced new results for its sa-mRNA COVID-19 vaccine, showing superior immunogenicity to the Omicron BA.4/5 variant and a longer duration of immune response compared to first-generation mRNA vaccines. This follows the vaccine's approval in Japan in November 2023.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:32 pm

VCIG

VCI Global has announced a new IPO consulting service project with Reveillon Group, with expected revenues from this project to be in the range of $4M-$8M. This collaboration marks a significant step for VCI Global in expanding its service offerings and potentially increasing its market presence.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:23 pm

DXPE

DXP Enterprises, Inc. (NASDAQ:DXPE) has acquired Kappe Associates, Inc., a leading distributor in the water and wastewater industry, to enhance its National Water & Wastewater efforts and deepen its presence in the Mid-Atlantic region. The acquisition, funded with cash from DXP's balance sheet, is expected to contribute positively to DXP's sales and EBITDA, with Kappe's last twelve months' sales and adjusted EBITDA being approximately $25.4 million and $3.8 million, respectively. This acquisition aligns with DXP's growth strategy and marks its tenth acquisition under its DXP Water efforts.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:20 pm

GRRR

Gorilla Technology Group Inc. (GRRR) reported a significant increase in its financial performance for the first nine months of 2023, with revenues reaching $37.9M, a more than double increase from the previous year. The company achieved a gross margin of 76.5%, a substantial rise from the previous year's 33%, and turned around its comprehensive income to $7.2M from a loss of $86M last year. Adjusted EBITDA surged by 431% YoY. Gorilla's CEO highlighted the company's exceeding of Q3 revenue expectations, a robust sales pipeline over $1 billion, and confidence in meeting the 2024 revenue target of $90M. The company's financial success is attributed to its AI-based edge video analytics, IoT technologies, and security convergence offerings.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:20 pm

BABA

NXPL

NextPlat Corp has received initial approvals to launch an OPKO Health-branded storefront on Alibaba's Tmall Global platform in China, aiming to sell up to 40 health and wellness products. This move, part of an exclusive joint e-commerce development agreement with OPKO Health Europe, a subsidiary of OPKO Health, Inc., marks a strategic milestone for NextPlat in tapping into the global health and wellness market. The company plans to expand its offerings and is awaiting final Chinese regulatory approval to include veterinary and animal health products. The initiative is expected to create a new international e-commerce revenue stream for NextPlat and is supported by local online specialists and Tmall Global-preferred merchant partners.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:13 pm

MTEK

Maris-Tech Ltd. has received an order worth approximately $190,000 from a returning customer for a miniature low-power solution aimed at improving gun sight capabilities in tactical applications.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:12 pm

JNJ

Johnson & Johnson announced positive topline results for Nipocalimab in Phase 3 and Phase 2 studies for treating generalized Myasthenia Gravis (gMG) and Sjögren's Disease (SjD), respectively. Nipocalimab showed clinical efficacy in gMG, addressing a significant unmet need for effective and safe therapies. It is also the first anti-FcRn to demonstrate efficacy in SjD, a prevalent autoantibody disease lacking advanced treatments. Over the past year, Nipocalimab has shown effectiveness in four different autoantibody-driven diseases.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:07 pm

OII

Oceaneering International, Inc. (NYSE:OII) has secured multiple contracts in Q4 2023 for its Manufactured Products segment, totaling an anticipated revenue of approximately $200 million. These contracts, primarily with international oil and gas operators and marine construction companies, include significant projects in the Gulf of Mexico and the Black Sea, involving the supply of electro-hydraulic, steel tube umbilicals and supporting hardware. Production for these projects is scheduled across facilities in Panama City, Houston, and Rosyth, with final deliveries expected between Q3 2025 and Q3 2026. CEO Rod Larson highlighted these awards as a testament to Oceaneering's role in supporting global offshore energy production and customer operations.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:05 pm