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Revenues

CMC

Commercial Metals Company (NYSE:CMC) has announced a new reporting structure effective from the first quarter of fiscal 2024. The structure includes three segments: North America Steel Group, Europe Steel Group, and Emerging Businesses Group. This change reflects the company's operational evolution, growing importance of non-steel solutions, and strategic decision-making processes. The realignment only affects reporting segments and does not alter CMC's consolidated results. Historical data under the new structure for fiscal years 2022 and 2023 is provided in the release.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:47 am

BIIB

SAGE

Biogen Inc. and Sage Therapeutics have announced that Zurzuvae (Zuranolone) CIV is now available by prescription in the United States for the treatment of postpartum depression in adults.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:32 am

STCN

Steel Connect (NASDAQ:STCN) reported a decrease in Q1 earnings to $0.15 per share from $0.59 YoY, with sales falling 19.51% to $41.34M from $51.36M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:28 am

ALK

Alaska Air Group has updated its Q4 total revenue percentage change forecast for 2022 to be between 2.25% and 3.25%, compared to its previous expectation of 1% to 4%.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:07 am

Yunji Inc. (YJ) reported a Q3 adjusted EPS of $(0.00) and sales of $19.90M, which is a 40.74% decrease from $33.58M in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:03 am

ADBE

ASLE

CLNE

GPMT

HMC

MOR

MWA

OCUL

Adobe Inc. reported Q4 earnings of $4.27 per share, beating estimates of $4.14, with revenue of $5.05 billion, slightly above the $5.03 billion estimate. However, Adobe issued a weak sales forecast for FY24, expecting revenue between $21.30 billion and $21.50 billion, below the $21.73 billion estimate. This resulted in a 6.1% drop in pre-market trading. Other stocks such as Ocular Therapeutix, AerSale Corporation, Granite Point Mortgage Trust, Honda Motor, MorphoSys AG, Clean Energy Fuels, and Mueller Water Products also saw pre-market declines despite various company-specific news.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 10:44 am

EWQ

TSLA

VLKAF

According to Reuters citing ACEA, 65% of electric cars sold in France are eligible for the country's state bonus scheme. This incentive is expected to boost the electric vehicle market in France in 2024.

Portfolio Pulse from Charles Gross

December 14, 2023 | 10:11 am

LCID

Lucid Group Inc (NASDAQ:LCID) has produced about 800 electric vehicles at its Saudi Arabian facility and trained over 200 local employees. The plant, which opened in September with a capacity of 5,000 EVs per year, is part of a deal to sell up to 100,000 vehicles to the Saudi government over ten years. The vehicles are assembled from semi-knockdown kits made in Arizona. Lucid, which is 60% owned by Saudi Arabia's PIF, aims to have a fully operational factory by 2026. The company reported Q3 revenue of $137.81 million with a loss of 28 cents per share and has adjusted its production target to 8,000-8,500 vehicles for the year.

Portfolio Pulse from Anan Ashraf

December 14, 2023 | 9:22 am

NFLX

'Cocomelon,' a children's series on Netflix Inc. (NASDAQ:NFLX), has achieved over 600 million hours of watch time, surpassing 'Stranger Things.' Initially a YouTube video, 'Cocomelon' has become a six-season series on Netflix, ranking as the fourth most-watched show on the platform. Owned by Moonbug and acquired by a Blackstone-backed firm, 'Cocomelon' also maintains a strong presence on YouTube. The show's success highlights the significance of children's content in streaming, with Netflix reporting nearly 100 billion hours of total content watch time in the first half of 2023 and ending the third quarter with 247.15 million global paid subscribers.

Portfolio Pulse from Ananya Gairola

December 14, 2023 | 6:40 am

ADBE

COST

JBL

LEN

U.S. stocks surged after the Federal Reserve maintained interest rates and projected a gradual reduction by the end of 2024. The Dow Jones jumped over 500 points, and the S&P 500 and Nasdaq also closed higher. Adobe Inc. reported strong Q4 earnings but a weak full-year sales forecast for 2024. Investors are looking forward to earnings from Lennar Corporation, Costco Wholesale Corporation, and Jabil Inc. The CNN Money Fear and Greed index indicated increased market greed.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 6:37 am