Streetbeat News

Revenues

PACB

Pacific Biosciences of California (PACB) has announced preliminary revenue for FY23 of $200.5 million, which is slightly above the estimated $197.97 million by analysts.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:04 pm

SITE

SiteOne Landscape Supply (NYSE:SITE) has been analyzed by 7 analysts, with a spectrum of opinions. The average 12-month price target is $148.43, down from $154.83. Analysts from firms like Stifel, Barclays, Truist Securities, and RBC Capital have updated their ratings and price targets, reflecting changes in market dynamics and company performance. SITE's financial health indicators show a market cap below industry average, revenue growth of 3.85%, a net margin of 5.0%, ROE of 3.91%, ROA of 1.96%, and a debt-to-equity ratio of 0.61.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 3:01 pm

AMAM

CMC

DADA

DTC

HARP

LMDX

U.S. stocks were mixed with the Nasdaq Composite up by around 100 points. The Dow and S&P 500 showed mixed performance. Information technology shares led gains, while energy shares lagged. Commercial Metals Company (CMC) reported better-than-expected Q1 earnings. Harpoon Therapeutics (HARP) surged after a buyout announcement by Merck, and Ambrx Biopharma (AMAM) also jumped on acquisition news by Johnson & Johnson. LumiraDx (LMDX) announced a trading suspension on Nasdaq, Dada Nexus (DADA) reported suspicious practices casting doubt on certain revenues, and Solo Brands (DTC) lowered its full-year 2023 revenue guidance. Commodities saw oil and gold prices fall, and European and Asian markets closed mostly lower.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 3:00 pm

CHX

ChampionX (NASDAQ:CHX) has been analyzed by 4 analysts, showing a mix of opinions with an average 12-month price target of $35.25, down from $39.50. All four analysts have lowered their price targets, with the highest at $39.00 and the lowest at $32.00. The company, which specializes in chemical solutions and equipment for oil and gas production, has seen a -8.01% decline in revenue growth and has a net margin of 8.27%. Its ROE is below industry average at 4.5%, but its ROA is strong at 2.34%, and it has a healthy debt-to-equity ratio of 0.39.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 3:00 pm

JAZZ

Jazz Pharmaceuticals projects its full-year 2023 revenue to be $3.813 billion, which is slightly below the estimated $3.83 billion.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:48 pm

MULN

Mullen Automotive, Inc. has submitted a Concept Paper to the DOE for grant funding to support domestic battery materials processing. The company plans to produce 150,000 battery packs by 2032 and seeks a $50 million grant for capital investment in its new Fullerton, California facility. This initiative is part of a broader $3.5 billion program to strengthen U.S. battery material manufacturing and aims to reduce battery costs by over 20%, enhancing Mullen's competitiveness in the EV market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:46 pm

AAPL

Apple Inc (NASDAQ:AAPL) shares are trading higher after announcing the release date for its new Vision Pro headset. Pre-orders begin on January 19, with availability in U.S. stores starting February 2. The device is priced at $3,499, with additional accessories available for purchase. CEO Tim Cook touted the device as a revolutionary step in spatial computing. However, Apple faces challenges with a 30% drop in iPhone sales in China during the first week of 2024 and a 3% decline in 2023, attributed to competition from local manufacturers like Huawei.

Portfolio Pulse from Adam Eckert

January 08, 2024 | 2:44 pm

DADA

Dada Nexus Limited has announced preliminary estimates indicating that approximately RMB 500 million in revenues from online advertising and marketing services, as well as RMB 500 million in operations and support costs, may have been overstated.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:41 pm

GCO

Genesco Inc. reported disappointing comparable sales and has reduced its fiscal year 2024 outlook, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:40 pm

DTC

Solo Brands has revised its full-year 2023 revenue guidance downward, which is now below market estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:35 pm