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Revenues

TOPS

Top Ships Inc. (NASDAQ:TOPS) has updated its net asset value (NAV) estimate to $344 million, up from the previous $285 million. This equates to a NAV per common share of $74.36 and $61.15 on a fully diluted basis. The company's contracted revenue backlog has also increased to $400 million. The Board is considering shareholder-friendly actions, such as a share buyback plan. The CEO highlighted the company's modern fleet, positive cash flow, and income generation, with the revenue backlog being 5 times the 2022 revenues and 1.9 times the net debt.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:38 pm

SPY

The Core Consumer Price Index (CPI) for November increased by 4% year-over-year, aligning with the market estimates.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:30 pm

BLBD

Blue Bird Corp's stock (BLBD) is trading higher following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company has raised its revenue guidance for FY24, signaling confidence in its future performance.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:23 pm

LCFY

Locafy Limited (NASDAQ: LCFY), a SaaS company specializing in search engine marketing, announced its first subscription contract from a U.S.-based media publisher to improve online rankings for advertorials using Locafy's Keystone technology. This follows successful trials showing the technology's ability to rank advertorials on Page 1 of Google search results. The contract could lead to recurring revenue as Locafy works to expand its technology's use across the publisher's advertising agency clients. The market for Locafy's Article Accelerator is substantial and largely untapped, with potential growth as AI-generated content increases.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:13 pm

ACLS

Axcelis Technologies, Inc. (NASDAQ:ACLS) has announced the shipment of multiple Purion H SiC Power Series and Purion M SiC Power Series ion implanters to power device chipmakers in Europe and Asia. These systems will be used in high volume production of power devices for EV applications. Axcelis has also closed a deal for a Purion H200 SiC Power Series evaluation tool in Europe. The Purion Power Series is designed to handle various wafer sizes and types, offering high throughput and capital efficiency for power device manufacturing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:11 pm

BWMN

Bowman Consulting Group Ltd. (BWMN) has acquired Hess-Rountree, Inc., a Phoenix-based full-service engineering firm. The acquisition is expected to operate at an annualized net service billing run rate of approximately $3 million. Hess-Rountree specializes in civil engineering, land surveying, and other services, with a focus on renewable energy and educational facilities. The acquisition, financed with cash, seller notes, and equity, aligns with Bowman's strategic growth objectives and is expected to be immediately accretive.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:10 pm

EDAP

EDAP TMS SA announced that the French National Authority for Health (HAS) has issued a favorable recommendation for the reimbursement of its high-intensity focused ultrasound (HIFU) therapy for prostate cancer treatment. This is a significant step towards securing final reimbursement in France.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:06 pm

EKSO

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) announced CMS approval for HCPCS Code K1007 to bill Medicare for Ekso Indego Personal, an exoskeleton for individuals with spinal cord injuries. CMS proposed a payment of $94,617 for devices under this code, with a final decision expected in February 2024. The code will take effect on April 1, 2024. The approval is seen as an inflection point for the device, expected to improve health outcomes and quality of life for SCI patients. Ekso presented at the HCPCS public meeting, emphasizing the device's benefits, and received support from Dr. Alberto Esquenazi, who noted the clinical benefits of Ekso devices in rehabilitation.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:06 pm

MRNA

Moderna, Inc. (NASDAQ:MRNA) is restructuring its operating model to prioritize sales of its COVID-19 vaccine, Spikevax, and the upcoming launch of its RSV vaccine in 2024. CEO Stephane Bancel will take charge of sales and marketing, while President Stephen Hoge will oversee pipeline commercial strategy and Medical Affairs. Arpa Garay, the outgoing Chief Commercial Officer, will advise during the transition before leaving the company.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:06 pm

ADV

Advantage Solutions is restructuring its international businesses to reduce complexities and expenses, simplify financial reporting, and eliminate losses in some Asian businesses. The company also plans to trade a minority interest in a foreign business for shares of Advantage stock.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:02 pm