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ERIC

T

Ericsson (NASDAQ:ERIC) reported a 16% year-on-year decline in Q4 FY23 sales, with organic sales down 17%. The company saw a decrease in Networks' organic sales by 23% and a decline in sales in India, partially offset by growth in Enterprise. Adjusted gross margin fell slightly, while adjusted EBIT margin improved due to higher-margin software sales. Ericsson forecasts a market decline outside China in 2024, with a decrease in 5G gear demand. The company has a $14 billion deal with AT&T (NYSE:T) for Open-RAN technology, which is expected to boost Ericsson in the second half of 2024. Ericsson named Lars Sandström as the new CFO, effective April 1, 2024. ERIC shares were up 1.37% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 2:10 pm

PLUG

Plug Power Inc. has commenced operations at its new liquid green hydrogen production facility in Georgia, which is the largest of its kind in the U.S. The plant, powered by eight 5MW PEM electrolyzers, can produce 15 TPD of liquid hydrogen, sufficient to fuel around 15,000 forklifts daily. This development is expected to enhance Plug's bottom line and fuel margin expansion. The plant's strategic location near major interstates facilitates easy distribution to customers across the U.S. Plug's CEO, Andy Marsh, highlighted the plant's significance in advancing the hydrogen ecosystem and meeting customer demand for decarbonization. The company has outpaced industry standards by completing the plant in 18 months and is working on additional plants in Louisiana, New York, and Texas.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:08 pm

BRO

Brown & Brown Inc (NYSE:BRO) reported Q4 2023 results with a 13.8% Y/Y increase in revenue to $1.03 billion, surpassing the consensus of $985.5 million. The growth was driven by higher commissions and fees and organic revenue growth. Adjusted EBITDAC rose 11.7% Y/Y, although the margin slightly contracted. Adjusted EPS of $0.58 beat the consensus of $0.53. The company has realigned its business segments and set a new revenue goal of $8 billion. Brown & Brown also declared a quarterly dividend of $0.13 per share. The stock is trading higher by 3.27% at $77.75 in premarket trading.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 2:06 pm

LAES

SEALSQ Corp (NASDAQ:LAES) announced an initiative to decentralize global semiconductor manufacturing by creating Semiconductor Personalization Centers with Public-Private Partnerships and SEALCoins incentivization. The initiative aims to mitigate the global dependency on semiconductor manufacturing and address the threat quantum computing poses to cryptocurrencies. SEALSQ is negotiating projects in Europe, Middle East, and Far East to implement OSAT Centers using RISC-V technology. The company is allocating 100 million SEALCoins to back the production of 100 million Quasar post-quantum semiconductors. SEALSQ's initiative also includes secure elements, cryptographic keys, and hardware security modules, and is expected to bolster industries like automotive, aerospace, and healthcare. The company's involvement with IoT device manufacturers and the Matter Protocol is expected to increase semiconductor demand, with the smart home market projected to grow significantly.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:06 pm

SINT

SINTX Technologies, Inc. (NASDAQ:SINT) reported preliminary Q4 2023 revenue of $902K and FY23 revenue of $2.6M, reflecting an 18% and 68% increase respectively compared to the same periods in 2022. The growth is attributed to the acquisition of TA&T and increased sales in aerospace, biomedical, and energy markets. Commercial revenues surpassed government contracts in Q4 for the first time since TA&T's acquisition. SINTX expects continued growth in 2024, targeting the defense, aerospace, industrial, and energy markets, and plans to re-engage the ballistic and body armor market.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:04 pm

HSII

Heidrick & Struggles International has released preliminary Q4 net revenue estimates ranging from $240M to $260M, which brackets the analyst estimate of $248.12M.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:04 pm

ABBV

AbbVie (NYSE:ABBV) was analyzed by 7 analysts, showing a mix of bullish to bearish sentiments. The average 12-month price target is $171.57, with a high of $196.00 and a low of $150.00, slightly down from the previous $173.40. Analysts from Barclays, HSBC, Goldman Sachs, Raymond James, Deutsche Bank, and Morgan Stanley have updated their ratings and price targets. AbbVie's financial performance shows a revenue decline of -5.97% for the quarter ending September 30, 2023, but strong net margin and ROE. The company's debt-to-equity ratio is high at 5.02, indicating potential financial challenges.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 2:01 pm

BL

Five analysts have recently updated their ratings on BlackLine (NASDAQ:BL), with a mix of bullish to bearish sentiments. The average 12-month price target is now $62.6, up from $56.67, with a high estimate of $81.00 and a low of $53.00. Analyst actions include adjustments to ratings and price targets, reflecting changes in market dynamics and company performance. BlackLine, a SaaS provider for financial accounting solutions, shows strong financial health with a 12.24% revenue growth rate, a net margin of 7.91%, and an ROE of 6.08%, but faces challenges with a high debt-to-equity ratio of 6.54.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 2:00 pm

ZION

Zions Bancorp (NASDAQ:ZION) received mixed analyst ratings over the last three months, with 9 analysts offering diverse opinions. The average 12-month price target is $43.33, up from the previous $37.67. Analysts from firms including Wedbush, Truist Securities, Barclays, Goldman Sachs, Baird, Wells Fargo, and Citigroup have provided updates, with some raising and others maintaining their price targets. Zions Bancorp is a regional U.S. bank with a market cap below industry average, a recent revenue decline of -7.61%, a net margin of 21.83%, an exceptional ROE of 3.44%, a below-average ROA of 0.19%, and a conservative debt-to-equity ratio of 0.11.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 2:00 pm

LLY

Eli Lilly (NYSE:LLY) has received mixed analyst ratings over the last quarter, with 8 analysts offering varying opinions. The average 12-month price target is $635.88, with a high of $722.00 and a low of $535.00, marking a 2.4% decrease from the previous average target of $651.50. Analysts from Barclays, Daiwa Capital, Truist Securities, Cantor Fitzgerald, Deutsche Bank, and Morgan Stanley have provided updates, with some maintaining and others raising their price targets. Eli Lilly's financial performance shows strong revenue growth but below-average net margin, ROE, and ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 2:00 pm