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Revenues

TRIB

Trinity Biotech plc (NASDAQ:TRIB) has started shipping its new rapid HIV screening test, TrinScreen HIV, to Kenya. The initial order consists of 2.5 million tests, with further shipments planned for early 2024. Kenya's HIV screening program, one of Africa's largest, performs approximately 10 million tests annually. Trinity Biotech expects to receive additional orders throughout 2024, as Kenya has secured funding from sponsors like Global Fund and USAID for all 10 million required tests. The new HIV testing algorithm, including TrinScreen HIV, will be implemented in January 2024. The company sees this as a significant opportunity to expand its presence in the HIV screening market across Africa, which is part of a global market estimated at 150 million tests annually.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:58 pm

BWEN

MKTX

Broadwind Inc (BWEN) has agreed to sell approximately $15 million of Advanced Manufacturing Production Credits to MarketAxess Holdings, Inc. (MKTX) under the Inflation Reduction Act. The tax credits are related to Broadwind's domestic production and sale of wind turbine components. Broadwind will also sell section 45X tax credits generated in 2024 on a quarterly basis. CEO Eric Blashford highlighted the economic incentive for renewable energy investment provided by the 45X tax credit. BWEN's stock saw a slight increase of 0.35% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 1:52 pm

SPY

VGK

Fitch Ratings reports that default rates for high yield bonds and leveraged loans are expected to rise in the U.S. and Europe in 2024 due to weaker economic growth and high interest rates. U.S. leveraged loan defaults increased from 1.6% at the end of 2022 to 3.04% in 2023, and high yield bond defaults rose from 1.35% to 2.99%. European leveraged loan defaults are projected to reach 4% by the end of 2024, with high yield bond defaults also expected to increase. The forecast reflects sector-specific issues in healthcare, pharmaceuticals, telecom, technology, consumer, industrial, and real estate sectors.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:43 pm

FNMA

IYR

SCHH

VNQ

XLRE

Fannie Mae forecasts a slight GDP decline of 0.3% in 2024 with a recovery in 2025. The housing market is expected to show resilience with slow recovery in home sales and mortgage originations. The Economic & Strategic Research Group at Fannie Mae presented this outlook. ETFs like VNQ, SCHH, XLRE, and IYR offer exposure to the real estate sector. Mortgage rates are predicted to average 6.7% in 2024, with a modest increase in home sales.

Portfolio Pulse from Surbhi Jain

December 27, 2023 | 1:15 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS) announced that its subsidiary, Charging Robotics, has successfully completed a key experiment in wireless high voltage electricity transfer for EV charging. This is a significant step towards implementing a wireless charging system in automated car parks. The experiment verified the proprietary control algorithms for voltage and current. The global Automated Parking System market is expected to grow from USD 1.8 billion in 2022 to USD 5.2 billion by 2032, with a CAGR of 11.4%. The growth in the EV market alongside automated parking suggests a promising future for this technology.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:13 pm

TURB

Turbo Energy reported revenues of $7.66 million and a net loss of $0.76 million for the six-month period ending June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:05 pm

EXPE

Expedia Group (NASDAQ:EXPE) received mixed analyst ratings over the past three months, with 7 analysts offering their perspectives. The average 12-month price target for EXPE has increased to $155.0, up from $130.43, with a high estimate of $200.00 and a low of $115.00. Analysts from firms including BTIG, Barclays, Oppenheimer, Evercore ISI Group, Morgan Stanley, Piper Sandler, and Wedbush have raised their price targets for EXPE. The company's financials show a market capitalization above industry average, a revenue growth rate of 8.57% as of September 30, 2023, but lagging net margin, ROE, and ROA compared to industry averages, and a debt-to-equity ratio of 3.91.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 12:00 pm

CNXA

CZOO

UCAR

The article highlights three consumer discretionary stocks that are currently oversold according to their Relative Strength Index (RSI) values, suggesting they may be undervalued. Connexa Sports Technologies Inc. (CNXA) reported a Q2 loss but expects revenue growth and profitability in Q4 of fiscal 2024. U Power Limited (UCAR) announced a follow-on offering, and Cazoo Group Ltd (CZOO) completed debt restructuring. All three stocks have seen significant price drops over the past month.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 11:56 am

AMZN

Amazon Inc. (NASDAQ:AMZN) has confirmed that starting January 29, Prime Video will feature limited advertisements. Customers can opt for an ad-free experience by paying an additional $2.99 monthly fee, raising the standalone Prime Video service cost to just under $12 per month. The current Prime membership price will remain the same, and Amazon's Freevee service will continue to have ads. This strategy aims to fund more content investment over time. An analyst previously praised the move, anticipating increased revenue for Amazon.

Portfolio Pulse from Ananya Gairola

December 27, 2023 | 11:10 am

HTZ

TSLA

Italian rally driver Piero Longhi shared his positive experience with his Tesla Model S, having driven over 236,000 miles in 6 years with minimal maintenance. This counters concerns about high EV maintenance costs, particularly for Tesla, which has faced scrutiny over repair costs and a DOJ investigation for exaggerating vehicle range. Meanwhile, Hertz Global Holdings Inc plans to reduce its Tesla fleet due to high repair costs and low resale value, opting for EVs from other manufacturers with cheaper parts and established supply networks.

Portfolio Pulse from Anan Ashraf

December 27, 2023 | 11:00 am