Streetbeat News

Revenues

ELIQ

Electriq Power, potentially referred to as ELIQ, has announced preliminary revenues for Q4 ranging between $20M and $30M.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:07 pm

RRC

Range Resources (NYSE:RRC) received mixed analyst ratings with 2 bullish, 5 somewhat bullish, 3 indifferent, and 1 somewhat bearish. The average 12-month price target is $38.0, with a high of $44.00 and a low of $32.00. Several analysts have adjusted their ratings and price targets, with most lowering their targets except for Nitin Kumar from Mizuho, Biju Perincheril from Susquehanna, and Roger Read from Wells Fargo who raised their targets. Range Resources faces financial challenges with a significant revenue decline of -63.57% over 3 months, below-average net margin, ROE, and ROA, but a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 1:00 pm

ASPN

Aspen Aerogels reported preliminary Q4 revenue of $84M, a 38% increase YoY, surpassing the estimate of $74.9M. The company expects FY24 baseline revenue to be $350M, with potential growth as EV production accelerates, which is below the estimated $391.43M. Full year 2023 revenues reached $238M, a 32% increase YoY, with PyroThin thermal barrier revenues at $110M (up 98% YoY) and Energy Industrial revenues at $128M (up 3% YoY). The company anticipates a continued net loss despite a positive adjusted EBITDA run rate.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:35 pm

INFY

SPY

Infosys Ltd (NYSE: INFY) reported a slight 0.1% Y/Y revenue increase in Q3 to $4.66 billion, surpassing consensus estimates. Despite a 1.0% Y/Y and Q/Q decline in constant currency terms, the company achieved a significant deal win TCV of $3.2 billion. Operating margin fell by 100 bps to 20.5%, and EPS met expectations at $0.18, down from $0.19 the previous year. Infosys holds $2.6 billion in cash and equivalents and generated $665 million in free cash flow, up 15.5% Y/Y. CEO Salil Parekh highlighted strong large deal wins and the use of Infosys' generative AI and cloud capabilities. The company adjusted its FY24 revenue growth outlook to 1.5%-2.0% in constant currency, slightly narrowing the previous range of 1.0%-2.5%. Infosys shares rose 1.60% in premarket trading to $18.39, outperforming the SPDR S&P 500 ETF (NYSE: SPY), which gained 8% in the same period.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 12:28 pm

GSQ

GameSquare, through its subsidiary Stream Hatchet, released its annual report on global esports and live streaming trends for 2024. The report highlights a 4% increase in esports viewership year-over-year, totaling 2.76 billion hours watched, with a significant portion through co-streaming channels. It also notes the rapid growth of creator-driven events and the trend of UEFN and creative world-building as a means to connect brands with viewers and creators.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:06 pm

FANG

Diamondback Energy (NASDAQ:FANG) has received mixed analyst ratings over the past three months, with 13 analysts offering a range of bullish to indifferent perspectives. The average 12-month price target for FANG has increased by 1.73% to $190.15, with a high estimate of $225.00 and a low of $169.00. Several analysts have adjusted their price targets and ratings, with some raising and others lowering their expectations. Diamondback Energy is an independent oil and gas producer with strong financial indicators such as a high net margin and ROA, but a lower than average ROE. The company's revenue declined by -3.85% over the last quarter, but its market capitalization and debt management remain strong.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 12:00 pm

CRM

Analyst ratings for Salesforce (CRM) show a mix of bullish to bearish sentiments, with an average 12-month price target of $282.5, reflecting an 8.22% increase from the previous target. Recent actions by analysts include various rating upgrades and price target adjustments, indicating a generally positive outlook on the company's performance. Salesforce's financials reveal strong revenue growth, net margin, and ROA, but a lower ROE compared to industry averages. The company's low debt-to-equity ratio suggests a healthy balance of financing.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 12:00 pm

NFLX

Variety reports that Netflix's advertising-supported subscription tier has surpassed 23 million monthly active users. This indicates a significant uptake of the ad tier option since its launch, suggesting that Netflix's strategy to attract a broader audience with a lower-priced offering is gaining traction. The growth in users for this tier could have implications for Netflix's revenue streams and its ability to compete in the crowded streaming market.

Portfolio Pulse from Charles Gross

January 11, 2024 | 11:59 am

C

KBH

NVDA

OXY

QQQ

SPY

U.S. stock futures, including Nasdaq and S&P 500, are up on hopes of tame inflation data. Analysts expect sentiment to improve, especially in an election year. Nvidia (NVDA) closed higher, while the Nasdaq Composite marked its fourth consecutive gain. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) rose in premarket trading. Occidental Petroleum (OXY) gained after Berkshire Hathaway (BRK) increased its stake. KB Home (KBH) fell post-earnings, and Citigroup (C) dropped after disclosing a significant one-time charge. Oil and Bitcoin surged, with Bitcoin ETF approval boosting crypto stocks.

Portfolio Pulse from Shanthi Rexaline

January 11, 2024 | 11:54 am

CRNT

Ceragon Networks has signed a $150M agreement with a global integrator in India to undertake a modernization project for a Tier 1 Operator. This deal could significantly impact Ceragon's operations and financials, given the substantial contract value relative to the company's market presence.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 11:04 am