Streetbeat News

Revenues

FEIM

Frequency Electronics (NASDAQ:FEIM) reported a significant improvement in Q2 earnings, posting $0.08 EPS compared to a loss of $(0.25) per share YoY. Sales also increased by 51.97% to $13.60M from $8.95M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:09 pm

EMKR

EMCORE Corporation projects its Q1 2024 revenue to be between $26M and $28M, which is below the estimated $29.99M.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:06 pm

CSBR

Champions Oncology (NASDAQ:CSBR) experienced a significant decline in financial performance for Q2, with EPS dropping to $(0.15) from $0.01 YoY and sales falling to $11.60M from $14.28M YoY, representing a 1600% decrease in earnings and an 18.77% decrease in sales.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:04 pm

CAVA

DIA

ENPH

FSLR

JCI

LCID

MRVI

ORCL

QQQ

SEDG

SPY

TAN

XLE

XLF

U.S. stocks are approaching all-time highs with the VIX at nearly 3-year lows ahead of the Fed meeting. Inflation data for November showed a slight decrease, aligning with estimates. The U.S. dollar index dipped slightly, while Treasury yields were stable. Gold and Bitcoin declined, and oil prices faced downward pressure. SPY, DIA, and QQQ ETFs saw modest gains, while XLF rose and XLE fell. Solar ETF TAN dropped significantly. LCID, ORCL, CAVA, MRVI, SEDG, ENPH, FSLR, and JCI stocks had notable movements due to various company-specific news.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 6:56 pm

LHX

L3Harris Technologies projects its 2024 revenue to be around $21 billion and anticipates generating approximately $2.2 billion in free cash flow for the same year, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 6:18 pm

MKKGY

PFE

SGEN

Pfizer Inc has received all necessary regulatory approvals to complete its $43 billion acquisition of Seagen Inc. To address FTC concerns, Pfizer agreed to donate Bavencio royalties to the American Association for Cancer Research. Pfizer will reorganize into three divisions, with the Pfizer Oncology Division integrating oncology operations from both companies. Merck KGaA regained rights to Bavencio, replacing profit share with a 15% royalty to Pfizer. Pfizer's Angela Hwang will leave the company, and the new structure will be effective January 1, 2024. Pfizer will provide financial guidance for 2024 in an upcoming webcast.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 6:04 pm

SPY

USO

The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil production in 2024, now expecting an increase of 180,000 barrels per day, reaching 13.11 million barrels per day. This is a downward revision from the previously forecasted rise of 250,000 barrels per day.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:29 pm

SPY

USO

The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil production in 2023, now expecting an increase of 1.02 million barrels per day, reaching 12.93 million barrels per day. This is a slight uptick from the previously forecasted rise of 990,000 barrels per day.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:28 pm

AVAXUSD

JOE

Trader Joe, a decentralized exchange on the Avalanche blockchain, reached its second-highest fee capture of $1.23 million and revenue of $145,000 on Dec. 11. The surge in performance coincided with a 7% increase in AVAX price and a 30% rise in JOE token value over the past week. This growth reflects Trader Joe's expanding influence in the DeFi sector and the platform's popularity within the Avalanche ecosystem.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 5:26 pm

CROX

BofA Securities analyst Christopher Nardone initiated coverage of Crocs, Inc. (NASDAQ:CROX) with a Buy rating and a $128 price target. Crocs has seen a 25% annual sales growth since 2019, popular among Gen Z, and is expected to maintain strong momentum. Growth drivers include new products, collaborations, gains in the sandals segment, a solid kid's business, and expansion in Asia-Pacific. The company is also addressing strategic issues from the HD brand post-acquisition in February 2022.

Portfolio Pulse from Priya Nigam

December 12, 2023 | 5:10 pm