Streetbeat News

Revenues

AAPL

JPM

JP Morgan Chase & Co. believes that Apple Inc.'s revenue will not be significantly impacted by the EU's new Digital Markets Act, despite Apple reducing its App Store commission and introducing a new fee. The EU accounts for only 6% of Apple's App Store revenue, and the new fifty-cent fee is expected to offset the commission cut. These changes are part of Apple's compliance with EU competition law and will take effect with the release of iOS 17.4.

Portfolio Pulse from Ananya Gairola

January 26, 2024 | 3:42 am

GOEV

Canoo Inc. (NASDAQ:GOEV) has announced a deal with the U.S. Postal Service (USPS) to supply six electric vehicles as part of USPS's $40 billion investment strategy. The vehicles, Canoo's Lifestyle Delivery Vehicle 190 (LDV 190), are expected to be delivered in Q1 2024. This purchase aligns with USPS's goal to have 66,000 EVs by 2028, including 45,000 battery-electric Next Generation Delivery Vehicles. USPS's total EV procurement plans include 21,000 vehicles, with 9,250 from Ford Motor Co, depending on market and operational factors.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 2:46 am

CVLY

Codorus Valley Bancorp (NASDAQ:CVLY) reported Q4 sales of $23.41M, surpassing the analyst consensus estimate of $22.50M by 4.03%. However, this represents a 6.12% decrease from the $24.93M in sales reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:48 pm

PVBC

Provident Bancorp (NASDAQ:PVBC) reported Q4 earnings of $0.18 per share, surpassing the $0.12 estimate, a 12.5% increase from the previous year. However, sales of $15.21M fell short of the $15.50M estimate, marking a 26.45% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:41 pm

TARO

Taro Pharmaceutical Industries Ltd. (NYSE:TARO) reported Q3 sales of $157.10M, surpassing the consensus estimate of $154.91M by 1.42% and marking a 12.86% increase from $139.20M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:07 pm

CUBI

Customers Bancorp (NYSE:CUBI) reported Q4 adjusted earnings of $1.90 per share, surpassing the consensus estimate of $1.72, representing a 59.66% increase from the previous year. However, sales of $172.51M fell slightly short of the $173.26M estimate, though they were up 27.65% from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:03 pm

V

Visa Inc. (NYSE:V) reported Q1 earnings of $2.41 per share, beating estimates of $2.34, and revenue of $8.60 billion, exceeding expectations of $8.54 billion. Payments volume and cross-border volume grew by 8% and 16% respectively. Visa forecasts Q2 net revenue growth in the upper mid to high single-digit range and full-year growth in the low double-digit range. Despite positive results, Visa shares dropped 2.73% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 25, 2024 | 9:48 pm

AWK

Illinois American Water, a subsidiary of American Water (AWK), has filed a rate request with the Illinois Commerce Commission (ICC) for $557 million in water and wastewater system investments through 2025. The investments aim to replace aging infrastructure and comply with environmental regulations, ensuring reliable and safe water services. The request includes $421 million for water and $136 million for wastewater improvements. If approved, residential water bills could increase by $24/month, and wastewater by $5/month. The company also proposes expanding its Income-Based Discount program to assist more customers.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:44 pm

ESRT

Empire State Realty Trust (ESRT) has signed a new full-floor lease with Greater New York Mutual Insurance Company at the Empire State Building. This deal signifies a positive development for ESRT, indicating the attractiveness of its properties and its ability to secure tenants.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:43 pm

V

Visa forecasts Q2 net revenue growth in the upper mid to high single-digits and anticipates low double-digit net revenue growth for FY24.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:41 pm