Streetbeat News

Revenues

BEEM

Beam Global announced that it has received repeat orders for its EV ARC solar-powered EV charging systems from multiple federal agencies. This indicates ongoing demand and trust in Beam's technology from government clients, which could lead to increased visibility and potentially more orders in the future.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 11:02 am

CXM

Sprinklr Inc (NYSE:CXM) shares plummeted over 20% despite reporting Q3 FY24 results that exceeded consensus estimates. Revenue increased by 18% Y/Y to $186.3 million, surpassing the expected $180.4 million. Subscription revenue grew by 22% Y/Y, and both RPO and cRPO saw significant year-over-year increases. Non-GAAP operating income and adjusted EPS also beat expectations. The company raised its FY24 revenue and EPS guidance. However, shares dropped to $13.10 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 07, 2023 | 10:47 am

AAPL

Apple Inc. has announced a collaboration with TDK Corporation for the production of lithium-ion battery cells in India, which will be used to power locally assembled iPhones. The production is expected to start within 12-18 months. TDK, after acquiring Amperex Technology Ltd, is setting up a facility in Haryana, India, which will create direct employment for 8,000-10,000 people and indirectly support over 25,000 jobs. This move is part of Apple's strategy to reduce reliance on China and increase the domestic value addition of iPhones assembled in India, which currently stands at 12-15%. TDK controls over 60% of the global Li-ion cell market, and this partnership is a significant step in diversifying Apple's supply chain.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 07, 2023 | 9:59 am

MCD

McDonald's Corporation (NYSE:MCD) is launching a new restaurant concept called CosMc's, focusing on to-go dining and iced drinks without traditional fries and burgers. The first location will open in a Chicago suburb with four drive-through lanes and no dining area. CosMc's aims to tap into the specialty beverages and coffee market, leveraging a revived orange alien mascot from past advertisements. McDonald's plans to open approximately ten more locations in Texas by next year. The move follows strong Q2 financial results, with sales up 14% year-over-year to $6.5 billion.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 9:24 am

DB

A Bankrate survey reported by The Hill indicates that 60% of Americans believe the economy is in a recession, despite strong job growth and economic expansion. This sentiment spans across generations and income levels. Economic experts, however, have a positive outlook, contrasting with the public's concern over affordability and financial security. Investment firms like BMO Capital Markets and Deutsche Bank predict a potential U.S. recession by the end of 2024, with varying forecasts for the stock market in 2024, including a potential downturn for the S&P 500.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 8:22 am

MNR

Mach Natural Resources (MNR) reported Q3 sales of $175.39M, missing the $243.68M estimate, a 28.02% miss and a 40.70% decrease from $295.74M YoY. Net income was $83.48M, down from $172.22M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:45 am

REGN

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) will present new and updated data on its oncology pipeline at the ESMO IO Congress 2023. This includes Phase 1 data for REGN5668 in combination with Libtayo in recurrent ovarian cancer patients and Phase 2 trial results of Libtayo with SBRT in early-stage HCC patients.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:38 am

EWU

The U.K. Halifax House Price Index reported a year-on-year decrease of 1.0% for November, showing an improvement from the prior figure of -3.2%.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:01 am

QQQ

SPY

'Rich Dad Poor Dad' author Robert Kiyosaki has warned of an impending economic crash that could turn into a depression. He criticized the idea of a 'soft landing' and urged Americans to vote for conservative candidates to avoid turning the USA into a 'Marxists state.' Despite his warnings, the U.S. is experiencing deflation, and some experts predict inflation could return to the Federal Reserve's 2% target by next year. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) closed slightly lower on Wednesday but have seen significant gains this year.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 6:51 am

F

TSLA

Ford's Mustang Mach-E is unlikely to qualify for EV tax credits starting next year, while the eligibility of the F-150 Lightning is under review. The Biden administration's new guidance aims to reduce Chinese content in batteries, affecting tax credit eligibility. Tesla's Model 3 RWD and Long Range tax credits will be halved next year, but other Tesla EVs are not expected to see a reduction in tax credits.

Portfolio Pulse from Anan Ashraf

December 07, 2023 | 6:26 am