Streetbeat News

Revenues

POAHY

VWAGY

Porsche AG (OTC:POAHY) has seen its market value decrease by about a fifth since last year, with its price-to-earnings multiple also declining, contrasting with the high expectations from its IPO. Challenges such as a downturn in China, Porsche's largest market, and production issues with the electric Macan SUV have contributed to the decline. Despite this, analysts see a potential 34% gain in Porsche's stock over the next 12 months. Porsche is set to reveal its electric Macan in Singapore, which aligns with its strategy to innovate while maintaining brand identity.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 11:56 am

GOOG

META

Meta Platforms Inc (META) has seen a decline in traffic referrals to news outlets, with its contribution to overall social media traffic for major news sites dropping from 50% to 33% in a year. News publishers are concerned about the lack of reimbursement for their content by companies like Meta and Alphabet Inc (GOOG, GOOGL). Facebook's external traffic referral volume has also decreased significantly. Columbia University suggests that Facebook should pay at least $1.9 billion annually to publishers, while Google should pay $10-$12 billion. Despite this, Meta resists legislative efforts to mandate revenue sharing and has threatened to remove news content in response to such legislation.

Portfolio Pulse from Anusuya Lahiri

January 24, 2024 | 11:55 am

EDU

New Oriental Education & Technology Group Inc (EDU) forecasts Q3 net revenue of $1.071B to $1.094B, indicating a 42% to 45% increase year over year compared to $935.93M previously.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:47 am

EDU

New Oriental Education (NYSE:EDU) reported Q2 adjusted earnings per ADS of $0.29, meeting analyst estimates, and a 190% increase from $0.10 per share last year. Sales reached $869.60M, surpassing the $814.07M estimate, marking a 36.26% increase from $638.21M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:44 am

TXT

Textron Inc. has provided its FY24 outlook, projecting adjusted EPS from continuing operations to be between $6.20 and $6.40, surpassing the consensus estimate of $5.90. The company expects revenue to be around $14.6 billion, which is slightly below the estimated $14.68 billion. Textron's outlook includes higher revenues, increased segment profit, and operating margin expansion, attributing the growth to ongoing investments in new products and programs aimed at enhancing long-term shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:41 am

ELV

Elevance Health projects a decrease in medical enrollment from 47M in 2023 to a range of 45.8M-46.6M by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:14 am

AAPL

SPY

VGK

Apple Inc. is reportedly planning to implement new fees and restrictions for software downloads that occur outside of its App Store. This move could potentially affect the company's revenue stream and its relationship with app developers, as well as the broader tech ecosystem. The details of the new fees and restrictions have not been disclosed, but they are expected to have implications for companies and developers who rely on Apple's platform for distribution.

Portfolio Pulse from Charles Gross

January 24, 2024 | 11:13 am

ELV

Elevance Health projects its 2024 operating revenue to grow from flat to low-single digits compared to 2023 sales of $170.2 billion, which is below the consensus estimate of $174.32 billion. The company also forecasts its adjusted EPS to be greater than $37.10, slightly above the consensus estimate of $37.05.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:13 am

GOEV

Canoo has secured a deal with the U.S. Postal Service to supply six electric vehicles, specifically the right-hand drive versions of the LDV 190, with delivery expected in Q1 2024. This deal is part of the USPS's $40 billion investment strategy to modernize its fleet.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:07 am

ABVX

Abivax is set to host a KOL investor event on February 6 to discuss Phase 2B data and Phase 3 trial design for Obefazimod, a treatment for moderately to severely active ulcerative colitis.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:36 am