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Revenues

CETX

Cemtrex Inc. has announced receiving new orders worth $3.8 million for two advanced industrial services projects. These new projects could potentially enhance the company's revenue stream and signal its capability in securing significant contracts in its industry.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:33 pm

EWG

Germany's Consumer Price Index (CPI) for January showed a month-on-month increase of 0.2%, which was in line with the market estimates and slightly higher than the previous month's increase of 0.1%.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:28 pm

MARK

MSFT

Remark Holdings CEO announced that Microsoft's initial investment includes $700K in cash to assist with onboarding and migration fees, plus a $2M credit for Azure cloud services. The CEO suggests that with cloud services being about 30% of the cost of goods sold, the 5-year revenue projection from operations could exceed $240MM. This revenue would enable Remark Holdings to meet or surpass the $80MM cloud services consumption agreement with Microsoft.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:13 pm

WOLF

Wolfspeed has expanded its 150mm silicon carbide wafer supply agreement, now valued at around $275 million. This expansion underscores the growing demand for silicon carbide in various key industries.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:13 pm

AVT

Avnet (NASDAQ:AVT) reported Q2 adjusted EPS of $1.40, meeting analyst estimates, but marking a 30% decrease from $2.00 per share last year. Sales reached $6.21B, slightly beating estimates of $6.16B but showing a 7.64% decrease from $6.72B in the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:03 pm

AAPL

AMZN

PYPL

SQ

PayPal Holdings, Inc (NASDAQ:PYPL) is reducing its workforce by 9%, affecting around 2,500 employees. CEO Alex Chriss, who joined in September, is driving changes for greater efficiency and focus, including automation and reduced complexity. Despite launching new AI-driven products and features, PayPal faces competition from Apple Inc (NASDAQ:AAPL) and others. The company's stock dipped slightly in premarket trading. Block Inc (NYSE:SQ) is also cutting staff, while Amazon.com Inc (NASDAQ:AMZN) stopped using Venmo for payments.

Portfolio Pulse from Anusuya Lahiri

January 31, 2024 | 1:01 pm

TTGT

TechTarget (NASDAQ:TTGT) received mixed ratings from 7 analysts, with 3 bullish and 4 somewhat bullish ratings. The average 12-month price target is $44.14, up 17.71% from the previous $37.50. Analysts from UBS, Keybanc, Raymond James, and Needham have adjusted their price targets and ratings, reflecting their views on the company's market performance. TechTarget's financial performance shows challenges with a revenue decline of -26.2%, below-average net margin, ROE, and ROA, and a high debt-to-equity ratio of 2.06.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 1:00 pm

BIIB

Biogen has announced the discontinuation of Aduhelm's development and commercialization, including the termination of the ENVISION clinical study. The company will focus on advancing Leqembi (Lecanemab) and accelerating the development of new treatment modalities. The decision is not due to safety or efficacy concerns, and resources from the Aduhelm program will be redirected to Biogen's Alzheimer's disease franchise.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:33 pm

MHO

M/I Homes reported a 61% increase in new contracts for Q4, totaling 1,588. However, the number of homes delivered during the same period decreased by 15%, with a total of 2,019 homes delivered.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:32 pm

SLGN

Silgan Holdings Inc. forecasts Q1 adjusted EPS of $0.60-$0.70, below the estimate of $0.72. For FY24, the adjusted EPS is projected at $3.55-$3.75, around the estimate of $3.61. The company anticipates a continued impact from customer destocking, leading to volume declines in its business segments compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:19 pm