Streetbeat News

Revenues

NFLX

Netflix has signaled potential price hikes in 2024 in its quarterly investor letter, citing investments and improvements in its service. The company added WWE's Raw to its content slate and has over 260 million global subscribers. Despite not announcing a specific price increase or date, Netflix's communication suggests that higher prices are on the horizon to support content expansion and service enhancements.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:55 pm

ORMP

Oramed Pharmaceuticals and its partners plan to initiate a Phase 3 trial in the U.S. for oral insulin. Oramed will receive a 3% royalty on gross revenues generated from its related assets by the joint venture.

Portfolio Pulse from Charles Gross

January 23, 2024 | 9:51 pm

TXN

Texas Instruments Incorporated (NASDAQ:TXN) reported Q4 earnings of $1.49 per share, slightly above expectations but a 30.05% decrease from the previous year. Sales were $4.08 billion, below the $4.12 billion estimate and down 12.70% from last year. The company's outlook for Q1 revenue is also lower than expected, between $3.45 billion and $3.75 billion, compared to the $4.06 billion estimate. After the report, TXN shares dropped 3.61% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 23, 2024 | 9:46 pm

PRPL

Purple Innovation's stock is up following the announcement of an improved balance sheet, providing more financial flexibility for growth. The company also reaffirmed its 2023 guidance.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:26 pm

LRN

Stride, Inc. has increased its FY24 revenue forecast from the range of $1.96 billion to $2.03 billion to a new range of $1.99 billion to $2.04 billion, slightly above the estimated $2 billion. Additionally, the company anticipates Q3 revenue to be between $500 million and $520 million, which aligns with the estimated $503.89 million.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:22 pm

VZ

BofA analyst David W. Barden maintained a Neutral rating on Verizon Communications Inc (NYSE:VZ) with a price target of $41, noting the company's Q4 results were in line with expectations and had better than expected wireless post-paid phone net additions. Verizon's 2024 financial guidance includes wireless service revenue growth, adjusted EBITDA growth, adjusted EPS, and capex, with Barden highlighting potential free cash flow factors and the wireless market growth outlook for 2024. VZ shares closed up 6.70% at $42.43.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 9:20 pm

LRN

Stride Inc. (LRN) reported a significant increase in Q2 earnings per share (EPS) at $1.54, up from $1.19 in the same quarter last year, and surpassed sales estimates with $504.87M against the expected $500.85M. This reflects a 10.13% increase in sales compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:17 pm

PRPL

Purple Innovation, Inc. (NASDAQ:PRPL) has completed a refinancing that consolidates its debt facilities into a new $61 million term loan, providing $21 million of incremental capital and an option for an additional $19 million loan. The refinancing strengthens Purple's balance sheet and provides financial flexibility to support its growth strategy. The company reaffirmed its 2023 guidance, expects Q4 Net Revenue and Adjusted EBITDA within guidance, and is focused on revenue growth and EBITDA improvement in 2024. Purple issued warrants for 20 million shares at $1.50 each to the lenders and will file the full terms on a Form 8-K with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:10 pm

AXS

AXIS Capital Holdings Limited (NYSE: AXS) announced preliminary full-year financial results for 2023, expecting net income of $346 million ($4.02 per share) and operating income of $486 million ($5.65 per share). The company reported a 2% increase in gross premiums and a lower combined ratio of 91.8% compared to the previous year. AXIS also strengthened its prior year reserves by $425 million due to liability and professional lines, mainly from 2019 and older. The company's book value per share increased by 15.1% to $54.06. President and CEO Vince Tizzio highlighted AXIS's strong performance and trajectory towards specialty underwriting leadership. Full results will be released on January 31, 2024, with a conference call on January 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:09 pm

NFLX

Netflix anticipates strong double-digit revenue growth for 2024, attributing this to an increase in membership and adjustments in foreign exchange neutral Average Revenue per Membership (ARM) due to price changes.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:05 pm