Streetbeat News

Revenues

AVO

Mission Produce (NASDAQ:AVO) reported Q4 adjusted earnings of $0.11 per share, surpassing the consensus estimate of $0.10, but representing a 15.38% decrease from the previous year's $0.13 per share. Quarterly sales were $257.90M, falling short of the $288.45M estimate, yet marking an 8.36% increase from the prior year's $238.00M.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:08 pm

TSLA

A Tesla Electric customer in Texas reported receiving a credit of $1,098.76 for their electricity in 2023, which they can cash out. The customer's home is equipped with three Powerwall+ batteries, and they only received one electricity bill for $12.44 throughout the year. Tesla Electric, which is currently exclusive to Powerwall owners in Texas, allows homeowners to buy and sell electricity. Tesla is planning to expand this service to other markets, including Australia. The company's growth in solar energy and utilities could positively influence its stock value.

Portfolio Pulse from Chris Katje

December 21, 2023 | 8:07 pm

IYR

SCHH

VNQ

XLRE

The housing market is showing signs of recovery as 2023 ends, with falling mortgage rates, increased new listings, and more consultations with Redfin agents indicating momentum for 2024. Real estate tracking ETFs like VNQ, SCHH, XLRE, and IYR have risen 17%-20% since November 1. Mortgage rates have dropped to 6.64%, and new listings are up 9% YoY, suggesting a potential upswing in real estate activity despite a current year-over-year decline in pending home sales.

Portfolio Pulse from Surbhi Jain

December 21, 2023 | 7:27 pm

MULN

Mullen Automotive's stock (MULN) is experiencing heightened volatility after the company executed a 1-for-100 reverse stock split. Additionally, Mullen announced the delivery of 38 Class 3 vehicles to Randy Marion Automotive Group, resulting in an invoice of $2.5 million to RMA.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 7:10 pm

ATOM-USD

Cosmos Hub's cryptocurrency, ATOM, saw a price increase of 4.56% in the last 24 hours, reaching $11.23, despite a 2.0% decline over the past week from $11.4. The all-time high for ATOM is $44.45. Trading volume has decreased by 22.0% over the past week, and the circulating supply dropped by 0.38%, now at 292.59 million. ATOM's market cap is currently ranked #29, valued at $3.29 billion.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 7:00 pm

AMZN

Wedbush analyst Scott Devitt has a positive outlook on Amazon.com, Inc. (NASDAQ:AMZN), with an Outperform rating and a raised price target from $180 to $210. Amazon's stock has risen 78% YTD as of Dec. 21, 2023. Devitt expects Amazon to generate $46.5 billion in advertising revenue in 2023 and sees potential for growth in digital advertising. He identifies four key pillars supporting Amazon's advertising opportunities: retail media tailwinds, growth in CTV and video ad formats, off-platform ad sales, and adoption by non-endemic advertisers. Wedbush also forecasts $100B+ in AWS revenue by 2024, $100B+ in free cash flow by 2026, and $100B in advertising revenue by 2028.

Portfolio Pulse from Surbhi Jain

December 21, 2023 | 6:09 pm

LUNA

Luna Innovations Inc (NASDAQ:LUNA) has received a $50 million strategic investment from White Hat Capital Partners. The funds will be used to partially finance the acquisition of Silixa for $21.5 million in cash and up to $16.5 million in earnouts based on 2024 performance. Silixa is expected to generate $30 million in revenue in 2023. Remaining funds will repay a $17 million term loan and support growth initiatives, including fiber optic sensing solutions. As of September 30, 2023, LUNA had $6.028 million in cash and equivalents. LUNA's stock price rose 4.41% to $6.80.

Portfolio Pulse from Lekha Gupta

December 21, 2023 | 5:40 pm

BMWYY

MBGAF

VWAGY

BMW aims to deliver over 500,000 EVs in 2024, indicating significant growth. Despite the end of a state-funded EV scheme in Germany, BMW's global plans remain unaffected. The company has also partnered with Mercedes-Benz Group China Ltd to manage a high-speed charging network in China and plans to expand its ChargeForward service in the U.S. Meanwhile, Volkswagen AG plans to stop selling combustion engine cars in Europe by 2035.

Portfolio Pulse from Shivani Kumaresan

December 21, 2023 | 5:29 pm

CCL

CUK

Carnival Corp (NYSE:CCL) (NYSE:CUK) shares surged approximately 7% following its Q4 FY23 earnings report. The company surpassed sales expectations with $5.397 billion against a $5.306 billion consensus. Passenger Cruise Days increased, and a record $6.4 billion in customer deposits was achieved. Operating income turned positive at $384 million compared to a loss last year, and adjusted EBITDA of $946 million exceeded guidance. Adjusted EPS loss was smaller than expected. The company forecasts strong Q1 adjusted EBITDA and a rise in net yields, with a positive outlook for FY24.

Portfolio Pulse from Lekha Gupta

December 21, 2023 | 5:10 pm

AISP

BYTS

Airship AI Holdings has completed its business combination with BYTE Acquisition Corp., and the combined company will trade on Nasdaq under the ticker 'AISP' starting December 22, 2023. Airship AI, which provides AI-driven surveillance solutions, has a $163 million pipeline and recently secured $10.9 million in contracts from the Department of Homeland Security. The company targets a rapidly growing edge AI market, projected to reach over $40 billion by 2030, and boasts a blue-chip customer base including federal agencies and Fortune 500 companies. The business combination is expected to enhance Airship AI's visibility, growth, and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 5:06 pm