Streetbeat News

Revenues

EWU

The U.K. Claimant Count Change for December was reported at 11.7K, significantly lower than the estimated 18.1K and a revision from the prior 0.6K. This indicates a smaller increase in the number of individuals claiming unemployment benefits than expected.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 7:04 am

EWA

Australia's Building Approvals for the month showed a 1.6% increase, which is in line with the estimated 1.6% and a decrease from the previous 7.2%.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 6:26 am

BETS

Bit Brother Limited (BETS) reported its 2023 mining operation results, with Site 1 mining approximately 136 bitcoins, generating about $6.2M in revenue. Site 1 also saved $1M in electricity through a special agreement. Site 2 in Texas is expected to start in January 2024, aiming for a monthly production of 12 BTC. BETS has partnered with Cruxforce, LLC to potentially develop a third site with a 40MW capacity. CEO Jack Wu anticipates further expansion and improved operations in 2024. The company emphasizes the complexity of accounting for cryptocurrency mining and warns investors not to rely solely on mining results.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:30 pm

JBL

Jabil Inc. (NYSE:JBL) has expanded its digital commerce capabilities with a new center of excellence in Chihuahua, Mexico. This third plant in Chihuahua, the fifth in the region, offers over one-million square feet of production capacity. The expansion supports nearshoring and access to advanced technologies like AI and robotics. Jabil's retail industry leadership is reinforced through collaborations with companies like Ocado, Revolut, SumUp, and VusionGroup. Jabil will showcase its innovations at NRF'24. The expansion benefits customers like Ocado by scaling the manufacturing of its Series 600 robot and VusionGroup by increasing production of ESL tags.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:27 pm

TTI

TETRA Technologies, Inc. (TTI) has secured a $265 million credit facility from Silver Point Finance, consisting of a $190 million term loan and a $75 million delayed-draw term loan. The new facility will refinance TETRA's existing $163 million debt and fund its Arkansas bromine processing project. The new loan has a lower interest rate and extends the maturity to January 2030. TETRA's liquidity and expected cash flow are anticipated to cover the project's capital requirements.

Portfolio Pulse from Charles Gross

January 15, 2024 | 9:43 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) stock reached a new 52-week high, trading briefly at $683.72 before closing at $683.24. The stock has risen approximately 45% over the past year. Positive indicators such as a rising on-balance volume (OBV) and a 9.9% YoY increase in December 2023 retail sales suggest continued strength. Costco plans to open 33 new warehouses in 2024, and with grocery inflation stabilizing, there is optimism for increased discretionary spending in the latter half of the year. Despite concerns over market saturation and supply chain risks, Costco's membership growth and strong financials make it an attractive long-term investment.

Portfolio Pulse from Surbhi Jain

January 15, 2024 | 8:24 pm

CSGP

CoStar Group (NASDAQ:CSGP) is analyzed against its competitors in the Real Estate Management & Development industry. CoStar has a low P/E ratio, suggesting undervaluation, but a high P/B ratio, indicating a premium on assets. Its P/S ratio is significantly higher than the industry average, potentially indicating overvaluation. CoStar's ROE is slightly below average, and its EBITDA and gross profit are lower than the industry average. However, CoStar's revenue growth outperforms the industry, suggesting strong market performance and future growth opportunities.

Portfolio Pulse from Benzinga Insights

January 15, 2024 | 4:00 pm

TRX

TRX Gold (AMEX:TRX) reported Q1 sales of $9.40M, missing the analyst consensus estimate of $10.48M by 10.31%, and marking a 3.27% decrease from $9.72M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:32 am

HYMTF

TSLA

Hyundai Motor Co. is offering $7,500 cash incentives for American buyers of its EVs, matching the federal tax credit amount that some Tesla vehicles qualify for. The offer applies to Hyundai's Ioniq 5, Ioniq 6, and Kona Electric models until January 31, 2024. Hyundai's EVs are not eligible for tax credits under the Inflation Reduction Act, but the company has become a significant player in the EV market, with sales surpassing GM and Ford in 2023.

Portfolio Pulse from Anan Ashraf

January 15, 2024 | 11:13 am

DIS

ESPN, a subsidiary of The Walt Disney Co. (NYSE:DIS), is involved in a controversy over deceptive practices to win over 30 Emmy awards. The Athletic reported that ESPN submitted fake names to win Emmys since 2010, which were later reassigned to real on-air talent. The National Academy of Television Arts & Sciences (NATAS) discovered the scheme, leading to an investigation, the return of the awards, and disqualification of ESPN staff from future Emmys. ESPN has admitted to the error, disciplined those involved, and revised their submission process.

Portfolio Pulse from Benzinga Neuro

January 13, 2024 | 5:41 am