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Revenues

OLLI

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reported strong Q3 FY23 results with sales growth of 14.8% Y/Y to $480.05 million, surpassing consensus estimates. Comparable store sales rose by 7.0%, and the company opened 23 new stores. Operating income and gross profit saw significant increases, with operating margin and gross margin both expanding. Adjusted EBITDA and its margin also increased. Adjusted EPS of $0.51 beat consensus, and the company repurchased shares worth $10.8 million. Ollie's raised its FY23 net sales and Adjusted EPS outlook, leading to a 6.39% rise in stock price to $81.10.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 3:08 pm

NVO

A study analyzing medical records and insurance claims data showed that 40% of patients prescribed Novo Nordisk's obesity drug Wegovy were still using it after a year, indicating higher adherence compared to older medications. The study, published in Obesity, involved 1,911 adults and found that greater weight loss at six months predicted continued use at one year. In contrast, only 13% and 10% of patients remained on Orexigen Therapeutics' Contrave and Vivus's Qsymia, respectively, after a year. The study did not explore why patients stopped taking the drugs but noted insurance coverage and pre-certification criteria as factors affecting adherence. Dr. Hamlet Gasoyan raised concerns about the cost of new anti-obesity drugs and their impact on insurance coverage decisions. Novo Nordisk's stock (NYSE:NVO) was down 0.94% at $98.69.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 2:53 pm

NEON

Neonode Inc. has been awarded a contract by a leading commercial vehicle OEM to supply its MultiSensing Driver Monitoring System software. The company will receive licensing revenues starting in 2025 when the first vehicles equipped with their software reach the market. Additionally, Neonode will generate non-recurring engineering revenues.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:26 pm

MCD

McDonald's has set a goal to expand its global restaurant count to 50,000 by 2027. The company also aims to grow its loyalty program to 250 million 90-day active users and achieve $45 billion in annual system-wide sales to loyalty members by the same year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:25 pm

LVO

LiveOne reported a significant increase in new paid memberships for November 2023, with 635,000+ new members, marking a 38% year-over-year growth. The company added 57,000 new paid members in November alone, with an average revenue per user (ARPU) of $3.10. The total membership now stands at over 3.4 million, a 30% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:24 pm

SCLX

Scilex Holding Company has announced that its product ZTlido has been added to the Medicaid Preferred Drug List in two new states, one in the Midwest and one in the South. This inclusion could potentially increase the accessibility and usage of ZTlido in these regions.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:05 pm

AFCG

REFI

Zuanic & Associates initiated coverage of Chicago Atlantic Real Estate Finance Inc. (REFI) with an Overweight rating, highlighting its unique position as a capital provider to the cannabis industry with high Yield-to-Maturity rates due to a capital supply-demand imbalance. REFI's core business is providing senior loans to state-licensed cannabis operators, and it is managed by Chicago Atlantic REIT Manager LLC. The cannabis sector's limited banking access and potential federal reform could expand REFI's opportunities. REFI has a competitive advantage with shorter loan durations, lower loan-to-value ratios, and a modest debt leverage. It is compared favorably to AFC Gamma Inc. (AFCG), with expectations of annual loan book growth of 10% and a robust dividend yield.

Portfolio Pulse from Nicolás Jose Rodriguez

December 06, 2023 | 1:57 pm

C

Citigroup CFO Mark Mason indicated that the company's revenue is expected to be on the lower end of its guidance, around $78 billion, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 1:53 pm

ASNS

Actelis Networks, Inc. (NASDAQ:ASNS) has received and delivered an order for networking devices to support the City of Everett's intelligent traffic management network. The order, facilitated by ITS channel partner Western Systems, includes Actelis' ML684D multi-gigabit hybrid fiber-copper networking switches, which are part of the MetaLight product family. These devices are designed to enhance traffic management and safety initiatives by providing secure, fiber-grade connectivity. Actelis' solutions have been deployed in several U.S. cities, demonstrating the company's ongoing success in the intelligent transportation systems market.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 1:46 pm

FBIO

Cyprium Therapeutics has received a $4.5 million payment upon closing a deal related to its drug CUTX-101. The company is also eligible for royalties and up to $129 million in development and sales milestones. Additionally, Cyprium retains full ownership of any FDA Priority Review Voucher that may be issued upon NDA approval for CUTX-101.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 1:42 pm