Streetbeat News

Revenues

TSLA

Tesla Inc (NASDAQ:TSLA) is halting most production at its Giga Berlin factory for two weeks due to disruptions in the Red Sea affecting shipping routes. The conflict in the Red Sea, which accounts for 12% of global maritime traffic, has led to attacks on shipping vessels, causing companies like Tesla to experience longer transportation times and supply chain issues. Major shipping companies are altering their routes to avoid the region, leading to increased costs and delays.

Portfolio Pulse from Chris Katje

January 11, 2024 | 9:57 pm

ALNT

Allient Inc. (formerly Allied Motion Technologies Inc.), under the ticker ALNT, has acquired SNC Manufacturing, a designer and manufacturer of electrical transformers. The acquisition expands Allient's capabilities in the power technology sector, particularly in defense, industrial automation, and renewable energy. Financial terms were not disclosed. SNC, with $40 million in trailing twelve-month revenue and 440 employees, will become a Technology Unit within Allient's Allied Power Technology Pillar. SNC's leadership, including President and COO Jim Koepke, will remain post-acquisition, reporting to Allient's Corporate VP Ashish Bendre.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:29 pm

BFRI

Biofrontera AG has released preliminary financial results for FY23, expecting revenues to be between $33.8M and $34.3M, which is below the estimated $35.92M.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:23 pm

BFRI

Biofrontera AG reported preliminary Q4 revenue of approximately $10.4M-$10.9M, which falls short of the estimated $12.44M. This indicates a potential revenue miss for the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:22 pm

FLXS

Flexsteel Industries projects its FY25 revenue to be between $416M-$432M, which is in line with the analyst estimate of $426.87M.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:17 pm

FLXS

Flexsteel Industries projects its Q4 revenue to be between $107M and $112M.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:16 pm

FLXS

Flexsteel Industries projects its Q3 revenue to be between $101M and $106M, which is in line with the estimated $102.12M by analysts.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:15 pm

TITN

Titan Machinery Inc. (NASDAQ:TITN) has acquired Scott Supply, Co., a dealership with a revenue of approximately $40 million in the trailing twelve-month period ended December 31, 2023. The acquisition, which closed on January 10, 2024, strengthens Titan Machinery's presence in eastern South Dakota and is expected to build upon Scott Supply's legacy of customer service excellence.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:14 pm

GTIM

Good Times Restaurants Inc. reported a mixed performance in Q1 with a 4.1% increase in same store sales for its Good Times brand, while its Bad Daddy's brand experienced a 6.1% decrease in same store sales.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:13 pm

XOMA

XOMA has disclosed that it will make a $1M milestone payment to LadRx following the FDA's acceptance of Zevra's NDA filing for arimoclomol, a treatment for Niemann-Pick Disease Type C. This follows a June 2023 agreement where XOMA paid LadRx $5M upfront and obtained a mid-single digit royalty on future arimoclomol sales, with the potential for up to $52.6M in additional milestone payments from Zevra.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:11 pm