Streetbeat News

Revenues

GSIT

GSI Technology expects its Q4 net revenues to be in the range of $4.8 million to $5.4 million.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:11 pm

BAFN

BayFirst Financial (NASDAQ:BAFN) reported a decrease in Q4 EPS to $0.32 from $0.45 YoY, while sales increased to $23.57M from $16.98M YoY.

Portfolio Pulse from mahesh@benzinga.com

January 25, 2024 | 9:10 pm

COF

Capital One Financial Corp. (COF) reported Q4 earnings of $2.24 per share, missing the consensus estimate of $2.64 by 15.15%. However, their quarterly sales of $9.50B exceeded the estimate of $9.46B by 0.40% and marked a 5.09% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:07 pm

TMUS

T-Mobile US, Inc. (NASDAQ:TMUS) reported strong fourth quarter and full-year 2023 results, with significant growth in service revenues, profitability, and cash flow. The company expects a positive outlook for FY24, with core adjusted EBITDA projected to grow by approximately 9% at the mid-point. Operating cash flow and adjusted free cash flow are also expected to increase by about 18% and 22% respectively. T-Mobile completed its merger integration and achieved the highest postpaid phone gross additions and the lowest annual churn rate in its history.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:02 pm

RJF

Raymond James Financial (NYSE:RJF) was analyzed by 7 analysts, with a mix of indifferent and somewhat bullish ratings. The average 12-month price target is $117.14, up from the previous $110.80. Analysts from UBS, JP Morgan, Jefferies, TD Cowen, Goldman Sachs, and Morgan Stanley have adjusted their ratings and price targets, reflecting their latest views on the company's performance. Raymond James Financial is a financial holding company with over $1.2 trillion assets under administration, with 90% of revenue from the U.S. and 70% from wealth management. The company has seen a 7.76% revenue growth rate and has a strong financial structure with a debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

HBAN

Huntington Bancshares (NASDAQ:HBAN) has received mixed analyst ratings over the past three months, with 7 analysts offering views ranging from bullish to indifferent. The average 12-month price target has been raised to $14.57, reflecting an 18.55% increase from the previous target of $12.29. Analysts from firms including Citigroup, Evercore ISI Group, Barclays, Raymond James, RBC Capital, Goldman Sachs, and Morgan Stanley have raised their price targets for HBAN. The company faces challenges with a revenue decline of -8.31% as of December 31, 2023, a below-average net margin of 12.49%, and a low ROE of 1.3% and ROA of 0.11%. Its debt-to-equity ratio of 0.77 is higher than the industry average, indicating a higher financial risk.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

AAPL

AMZN

Apple Music is increasing royalties for music available in Spatial Audio by 10% to incentivize higher quality content and fair compensation for artists. This change, effective from a Jan. 22 update, applies even if subscribers don't listen in Spatial Audio format. Over 90% of Apple Music listeners have experienced Spatial Audio, with a significant increase in plays and available songs since its launch in June 2021. Amazon Music Unlimited also offers Spatial Audio, while Spotify may introduce a premium tier with high-quality music and AI playlist features.

Portfolio Pulse from Franca Quarneti

January 25, 2024 | 8:49 pm

AMZN

Amazon's Twitch has announced updates to its streamer payout programs, which include expanding the Twitch Partner Plus Program, removing the $100,000 cap on the 70/30 revenue split, and adopting a fixed rate model for Prime Gaming subscriptions. These changes aim to improve creators' earnings and ensure Twitch's long-term sustainability.

Portfolio Pulse from Franca Quarneti

January 25, 2024 | 8:45 pm

AXSM

RBC Capital initiated coverage on Axsome Therapeutics Inc (NASDAQ:AXSM) with an Outperform rating and a price target of $126, citing underappreciated near-term revenue growth and pipeline potential. Auvelity, Axsome's drug for major depressive disorder, is expected to surpass consensus sales estimates in 2024 with $296 million. The company's preliminary Q4 2023 product revenue is approximately $71 million, with full-year revenue at $204 million. Auvelity and Sunosi are the main contributors to these figures. AXSM shares are currently down 1.17% at $90.71.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 8:08 pm

CRLBF

CURLF

GTBIF

Ohio's medical cannabis sales reached a record $484.4 million in 2023, but the growth rate has stagnated to only 1.2% year-over-year. The market has seen declining growth rates since its inception, with revenue increases dropping from 297% in 2020 to just 1% in 2023. Despite selling 39% more plant material and 25% more manufactured products in 2023 than in 2022, the average flower retail price fell by 37%. Companies like Green Thumb Industries Inc. (GTBIF), Curaleaf Holdings Inc. (CURLF), and Cresco Labs Inc. (CRLBF) are preparing for Ohio's upcoming recreational cannabis market, which was legalized in November but has not yet commenced sales.

Portfolio Pulse from Jelena Martinovic

January 25, 2024 | 6:48 pm