Streetbeat News

Revenues

AAPL

ROKU

TSLA

USO

Stock indices marked their eighth consecutive week of gains, with the S&P 500, Dow, and Nasdaq all rising. Inflation measured by the PCE index fell to 2.5% in November, the lowest since March 2021, prompting economists to reconsider the Fed's rate plans for 2024. Bullish views included predictions for Apple and Tesla, a potential Bitcoin ETF approval, and a Dogecoin rally. Bearish perspectives involved a drop in oil prices following Angola's OPEC exit, a predicted 75% fall in Ethereum, and a downgrade of Roku by Seaport Research Partners.

Portfolio Pulse from Michael Cohen

December 23, 2023 | 2:50 pm

GURE

Gulf Resources, Inc. (GURE) has been instructed by the government of Shouguang City to temporarily close its bromine and crude salt facilities from December 25, 2023, to February 20, 2024. This closure is part of the government's efforts to reduce winter air pollution and improve brine resource efficiency. The closure will result in a temporary halt in production, with an additional 15 days of production in Q4 2023 compared to the previous year, but a loss of 19 days in Q1 2024. The company notes that bromine sales typically slow in winter due to the Chinese New Year holidays.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:33 pm

COP

ConocoPhillips (NYSE:COP) has decided to proceed with the Willow project in Alaska, following a Final Investment Decision and support from the Department of the Interior and court orders. The project is expected to generate significant revenue and reduce U.S. dependence on foreign energy. It will create jobs and has been designed with environmental considerations and local community input.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:32 pm

SNTG

Sentage Holdings reported a decrease in earnings per share (EPS) for the first half of 2023 to $(0.46) from $(0.41) in the same period the previous year. Revenue also declined to $82 from $0.18 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:19 pm

BHAT

Blue Hat Interactive Entertainment Technology reported its H1 2023 earnings with an EPS of $(0.33), an improvement from $(0.35) year-over-year. Revenue significantly increased to $46.30M from $0.80M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:09 pm

ZBH

Eight analysts have recently reviewed Zimmer Biomet Holdings (NYSE:ZBH), with sentiments ranging from bullish to bearish. Over the past three months, there have been 2 somewhat bullish and 6 indifferent ratings, with no bullish or bearish ratings. The average 12-month price target is now $126.38, a 10.37% decrease from the previous $141.00 target. Analysts have adjusted their ratings and price targets in response to market dynamics and company performance, with some raising and others lowering their expectations. Zimmer Biomet designs and markets orthopedic products and has spun out its dental and spine businesses in 2022. The company's market cap is below industry averages, and it has seen a 5.02% revenue growth over three months, which is lower than its peers. Its net margin and ROE are also below industry averages, while it maintains a conservative debt-to-equity ratio of 0.45.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 9:00 pm

TGT

WMT

Piper Sandler analyst Edward Yruma has reiterated an Overweight rating on Target Corporation (TGT) with a price target of $180. Target has seen a 38% revenue growth since 2019, outpacing Walmart's 23%. The company is improving operational efficiency and discipline, which is expected to yield continued gains in 2024. Target is also focusing on standardizing work processes, enhancing security, expanding its brand offerings, innovating in private-label assortments, and leveraging Target Circle personalization. Remodels and new stores are contributing to strong returns and are expected to support long-term growth. TGT shares have seen a slight increase to $139.53.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 7:41 pm

AMKBY

USO

Disruptions in the Red Sea due to attacks by Yemeni Houthi rebels are causing freight rate spikes and potential inflationary pressures. The Red Sea/Suez Canal corridor, accounting for 12% of global trade, is being avoided by freight companies, leading to longer shipping routes and higher costs. Maersk (OTCPK: AMKBY) has imposed a surcharge, and oil prices have risen, with BP (NYSE:BP) suspending oil shipments through the region. The United States Oil Fund (NYSE:USO) ETF tracking light-sweet crude oil prices has seen an increase. Delays and higher freight rates may affect product availability and prices, with Europe likely to feel the impact more than the U.S.

Portfolio Pulse from Neil Dennis

December 22, 2023 | 6:41 pm

BGNE

BMY

MRNA

PFE

HBM Holdings' subsidiary Nona Biosciences has entered a licensing deal with Pfizer-owned Seagen Inc. for an antibody-drug conjugate (ADC) with an initial payment of $53 million and up to $1.05 billion in milestones. Despite this, HBM shares dropped due to the deal's perceived modesty compared to a larger deal between Sichuan Biokin and Bristol-Myers Squibb. HBM's revenue increased by 48% in the first half of the year, and the company turned a profit for the first time. Future revenues depend on clinical trial outcomes and partner decisions, with HBM's valuation still considered low compared to peers.

Portfolio Pulse from The Bamboo Works

December 22, 2023 | 6:11 pm

CMCSA

Over the past quarter, 6 analysts have provided diverse opinions on Comcast (NASDAQ:CMCSA), ranging from bullish to indifferent. The average 12-month price target for Comcast is $47.5, with a high estimate of $53.00 and a low estimate of $44.00, indicating a slight upward trend from the previous average of $46.33. Analysts have made various adjustments to their ratings and price targets, reflecting their response to Comcast's recent developments. Comcast's financial performance shows positive revenue growth, a high net margin, and strong ROE and ROA, with a prudent debt management strategy. The company's market capitalization suggests a robust market position.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 6:00 pm