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Revenues

BYDDF

TSLA

BYD Co Ltd, supported by Warren Buffett, is entering the luxury EV market with a new lineup including a $150,000 supercar and an SUV capable of 360-degree rotation and floating. BYD has surpassed Tesla in global EV sales, with a focus on the Chinese market where it sells five times more cars than Tesla. The company aims to expand internationally, despite facing a subsidy probe in Europe and limited U.S. access. BYD also collaborated with DJI on a vehicle-mounted drone, aiming to export 400,000 cars this year.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:53 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), visited Auschwitz and declared himself 'aspirationally Jewish' after lighting a candle in memory of Holocaust victims. His visit was part of an event by the European Jewish Association to combat rising antisemitism. Musk has faced criticism for allowing antisemitic hate speech on Twitter, which he owns, and a study found an increase in antisemitism on the platform after he took over.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:48 am

GOOG

TCEHY

Tencent Holdings Ltd's subsidiary Riot Games is laying off 11% of its workforce, around 530 employees, due to unsustainable costs and the need for a sharper focus. The layoffs will affect non-core development teams and will see the discontinuation of new game development under 'Riot Forge' and adjustments to 'Legends of Runeterra'. The gaming industry has seen over 10,000 layoffs in 2023, with AI's impact on jobs and income inequality being a concern highlighted by the IMF.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 7:51 am

ERIC

Ericsson anticipates a seasonal decline in sales for FY24, with Networks sales expected to drop by 25% and Cloud Software and Services by 34% on average from Q4 to Q1, based on the past three years' data. The company also forecasts a Q1 gross margin for Networks to be between 39-41%.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:50 am

ERIC

Ericsson reported a decline in Q4 earnings per share (EPS) to SEK 1.02 from SEK 1.82 year-over-year (YoY), with sales dropping to SEK 71.9 billion from SEK 86 billion YoY. The company experienced a significant 17% organic sales decline, largely due to a 23% decrease in its Networks segment.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:40 am

ECO

Okeanis Eco Tankers Corp. (NYSE:ECO) provided a commercial update for Q4 2023, estimating a fleetwide Daily Time Charter Equivalent Rate (Daily TCE Rate) of approximately $45,300 per operating day. The estimated Daily TCE Rates for VLCC and Suezmax vessels were $45,200 and $45,500 per operating day, respectively, with Suezmax spot days at $51,800. For Q1 2024, 61% of VLCC and 41% of Suezmax spot days have been booked at $76,100 and $59,300, respectively. The Daily TCE Rate is a non-GAAP and non-IFRS measure, and the company has not finalized its financial statements for 2023, indicating that the provided figures are preliminary and subject to change.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:40 pm

NVOS

Novo Integrated Sciences reported an improvement in its Q1 2024 earnings with an EPS of $(0.28), up from $(1.16) year-over-year. Revenue also increased to $3.891M from $3.419M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:34 pm

FSI

Flexible Solutions International reported a decrease in Q4 2023 revenue to $9.22M, down from $12.20M in the same quarter the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:08 pm

SPY

Scott Shellady, known as The Cow Guy, warned of a potential market 'reckoning' in 2024 on Benzinga’s PreMarket Prep. He believes the consumer is the weak link in the economy, and the labor market is not as strong as jobs data suggest. Despite recent equity market highs, with the S&P 500 and SPDR S&P 500 ETF Trust (SPY) reaching record levels, Shellady is skeptical about the sustainability of growth. He points out that consumers are increasingly indebted and predicts that the expected rate cuts by the Federal Reserve will not materialize as hoped, with possibly just one cut instead of several.

Portfolio Pulse from Neil Dennis

January 22, 2024 | 9:08 pm

CURLF

The Travel Agency: A Cannabis Store and Curaleaf Holdings Inc. (OTC:CURLF) are expanding their presence in New York's legal cannabis market. The Travel Agency is opening its second Brooklyn dispensary near the Barclays Center, while Curaleaf is launching its first adult-use store in Newburgh. New York's legal cannabis market faces challenges from unlicensed stores and generated $150 million in sales in its first year. Governor Hochul proposes legislative changes to improve the market's competitiveness.

Portfolio Pulse from Nicolás Jose Rodriguez

January 22, 2024 | 9:03 pm