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Revenues

SNCR

Synchronoss Technologies, Inc. (SNCR) has completed its transformation to a cloud-only business, following the divestiture of its Messaging and NetworkX operations. The company expects to eliminate $10M-$15M in costs from its cloud operations, reaffirming its 2023 and 2024 financial projections. SNCR anticipates positive unadjusted cash flow for 2023, with adjusted EBITDA between $27M-$30M. For 2024, the company expects 5%-8% revenue growth, gross margins over 75%, and adjusted EBITDA margins above 25%. These improvements are attributed to the divestiture of non-core assets, removal of $15M in annualized operating expenses, and long-term contracts with major customers.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:23 pm

RVSN

Rail Vision Ltd. (NASDAQ:RVSN) has completed the delivery of its AI-enabled MainLine obstacle detection system to a leading Latin American mining company. The $500,000 deal includes the system and support services such as supervision, guidance, and training. The MainLine system enhances railway safety by detecting potential obstacles on the tracks using advanced sensors and AI, even in challenging conditions. The global railroad market is growing, with the railway signaling market expected to reach $31 billion by 2030.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:20 pm

AAGR

African Agriculture Holdings Inc. (NASDAQ:AAGR) announced plans to expand alfalfa production in Senegal following its merger and Nasdaq listing. The company aims to increase land utilization from 300 to 1,000 hectares and enhance production in 2024. AAGR's strategy includes broadening product offerings and expanding geographically, leveraging Africa's arable land to address global food security.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:19 pm

AGNC

NYMT

TRTX

The article highlights three high-yielding dividend stocks in the financial sector that have been rated by Wall Street's most accurate analysts. AGNC Investment Corp. (AGNC) has a dividend yield of 15.78% and received mixed ratings with a recent positive earnings report. TPG RE Finance Trust, Inc. (TRTX) offers a 15.74% yield but had a price target cut following downbeat sales. New York Mortgage Trust, Inc. (NYMT) yields 13.42% and also saw a price target adjustment after reporting weaker sales.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 1:14 pm

NXGL

Nexgel (NXGL) has entered into a partnership with Stada Arzneimittel to distribute and commercialize over-the-counter (OTC) consumer health products in North America starting in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:07 pm

AMAT

ASML

GFS

IBM

MU

ON

WOLF

New York State is investing $10 billion to create a semiconductor research facility at the University at Albany, in collaboration with NY Creates and major chip companies. The facility will feature advanced equipment from ASML Holding NV and involve key industry players like IBM, Micron Technology, Applied Materials, and Tokyo Electron. The project aims to make New York a significant research hub, create 700 jobs, attract $9 billion in private investment, and reduce reliance on foreign chip technologies. GlobalFoundries, ON Semiconductor, and Wolfspeed also have existing facilities in New York, with Micron planning a new factory near Syracuse.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 12:57 pm

AAPL

SSNLF

Samsung (OTC:SSNLF) is reorganizing its display unit to concentrate on foldable screens and extended reality microdisplays, aiming to lead in these technologies. The move is a response to competition from Oppo and OnePlus in the foldable phone market and to prepare for Apple's (NASDAQ:AAPL) entry into foldable Macs and iPads, as well as the anticipated release of Apple's Vision Pro headset. Samsung plans to make foldables mainstream and secure differentiated technologies, with results expected to show by the Galaxy Z Fold 6 release.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 12:05 pm

GOLD

The US Bureau of Land Management has approved Nevada Gold Mines' Plan of Operations for the new Goldrush Underground Mine. The mine, expected to start production in 2024, is forecasted to produce 130,000 ounces of gold in its first year and reach approximately 400,000 ounces annually by 2028.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:03 pm

PAG

Penske Automotive Group has agreed to acquire Rybrook Group, which includes 15 premium dealerships in the UK. The acquisition, which represents an estimated annualized revenue of $1 billion, has received certain regulatory approvals and is expected to close in January 2024. The deal will be funded using Penske's existing liquidity.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:59 am

PNM

The Hearing Examiners have issued recommended decisions regarding the Public Service Company of New Mexico's (PNM) application for a change in customer base rates in 2024 and its application for 12 megawatts of distribution battery storage. PNM, a subsidiary of PNM Resources, is awaiting final decisions on these applications which could impact its revenue and investment in energy storage infrastructure.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:36 am