Streetbeat News

Revenues

SPY

USA Building Permits for the month came in at 1.467 million, slightly above the estimate of 1.460 million but below the prior figure of 1.498 million.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:28 pm

GELYY

STLA

Geely Automobile Holding Ltd's EV exports face potential delays and cost increases due to hostilities in the Red Sea, prompting shippers to reroute around the Cape of Good Hope instead of the Suez Canal. This could lead to quintupled shipping costs and a vessel shortage. China's vehicle exports to Europe have surged, causing EU regulatory concerns. Stellantis N.V. is monitoring the situation to adapt its strategy.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 1:09 pm

ASO

Academy Sports (NASDAQ:ASO) received diverse analyst ratings over the past three months, with 1 bullish, 6 somewhat bullish, and 1 indifferent. The average 12-month price target is $64.5, down from $65.67. Analysts from Wells Fargo, Wedbush, Morgan Stanley, Telsey Advisory Group, and Truist Securities have provided updates, with some maintaining and others adjusting their price targets. Academy Sports has a strong market position, with a high net margin and ROE, but has seen a revenue decline of -6.44% as of October 31, 2023.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:00 pm

LITE

Lumentum Holdings (NASDAQ:LITE) has received mixed analyst ratings over the past three months, with no changes in the last 30 days. The average 12-month price target is now $49.81, down from $52.57, with a high estimate of $55.00 and a low of $45.00. Analysts from firms including Needham, Susquehanna, Raymond James, Rosenblatt, Morgan Stanley, and B of A Securities have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Lumentum Holdings, a provider of optical and photonic products, has seen a -37.33% decline in revenue growth and faces challenges with market capitalization, net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:00 pm

CDTX

Cidara Therapeutics announced that its drug Rezzayo (Rezafungin Acetate) has been approved by the European Union for the treatment of invasive candidiasis in adults. This marks the first new treatment option for this condition in over 15 years. Following the approval by the European Medicines Agency (EMA), Cidara is set to receive a milestone payment of approximately $11.14 million from Mundipharma.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:32 pm

LMNR

Limoneira Co (NASDAQ:LMNR) reported Q4 FY23 revenue of $41.4 million, a 4% increase, surpassing the consensus of $37.8 million. Agribusiness revenue increased, and the company sold approximately 550,000 cartons of fresh lemons. However, there was no avocado revenue, and the company reported an increased operating loss of $(9.7) million. Adjusted EBITDA loss improved to $(1.3) million, and adjusted EPS loss was in line with consensus. The company used $(15.9) million in net cash for operating activities and ended with $3.6 million in cash. LMNR expects challenges due to supply chain and inflation but projects increased lemon and avocado volumes in FY24. The company plans to sell non-strategic assets for expected proceeds of $50 million and has adjusted cash flow projections to $131 million over nine years. The Board is exploring strategic alternatives to maximize stockholder value. LMNR shares closed up 1.32% at $19.19.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 12:26 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has acquired land in Shanghai for a new Megapack battery factory, with construction expected to start in Q3 and production by mid-2024. The factory will have a capacity of 10,000 megapacks per year, complementing Tesla's energy generation business which grew 40% to $1.6 billion in Q3. Megapacks store energy to stabilize the grid, with each unit capable of powering 3,600 homes for an hour.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 12:12 pm

CVS

Analysts have provided mixed ratings for CVS Health (NYSE:CVS) over the past three months, with the most recent ratings being more bullish. The average 12-month price target for CVS is $93.2, down from the previous $101.00, indicating a potential decrease in stock value. CVS Health operates a vast network of retail pharmacies, is a major pharmacy benefit manager, and owns a top-tier health insurer. The company's recent acquisition of Oak Street Health could synergize with its existing operations. Financially, CVS has shown solid revenue growth, exceptional net margin, and strong ROE and ROA, with a sound debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 12:00 pm

ALPN

Alpine Immune Sciences (NASDAQ:ALPN) has been the subject of diverse analyst ratings over the past three months, with 7 analysts offering views ranging from bullish to bearish. The average 12-month price target has increased by 37.28% to $24.71, with a high estimate of $32.00 and a low of $18.00. Analysts from firms like HC Wainwright & Co., Wedbush, RBC Capital, Morgan Stanley, and Berenberg have adjusted their ratings and price targets, reflecting a positive outlook on the company's performance. Alpine Immune Sciences is a clinical-stage biopharmaceutical company with a focus on protein-based immunotherapies. Despite a market capitalization below industry benchmarks, the company has seen a revenue growth of 20.03% and has a strong net margin and ROE, with minimal reliance on debt financing.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 12:00 pm

AVDX

AvidXchange Holdings (NASDAQ:AVDX) has received mixed analyst ratings over the last three months, with a current average 12-month price target of $11.67, down from $12.60. Analysts from firms like Barclays, BTIG, BMO Capital, Wells Fargo, Susquehanna, and Piper Sandler have provided various ratings and price target adjustments, reflecting changes in market conditions and company performance. AvidXchange has shown a revenue growth rate of 19.74% as of September 30, 2023, but struggles with profitability and efficiency, as indicated by its net margin of -8.2%, ROE of -1.25%, and ROA of -0.38%.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 12:00 pm