Streetbeat News

Revenues

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped after a 30% rise on Monday. The decline follows the company's announcement of new deliveries of the All-Electric Class 3, Mullen Three, to Randy Marion Automotive Group, a major U.S. commercial fleet dealer. Despite the news, MULN shares are trading above their 50-day moving average and have a high short interest of 12.83%. The stock is currently down by 5% at 20 cents.

Portfolio Pulse from Erica Kollmann

December 05, 2023 | 3:29 pm

BAC

SPY

Bank of America CEO Brian Moynihan appeared live on CNBC to discuss consumer spending trends. The discussion likely covered the bank's insights into spending patterns, which could reflect the broader economic health and consumer confidence.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:20 pm

INTR

Inter&Co, a financial services company, has surpassed 30 million clients, indicating significant growth and progress towards its five-year business plan. This milestone suggests a strong market presence and potential for future expansion.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:05 pm

VZ

Verizon has expanded its partnership with TechSTL to promote digital equity in St. Louis. The collaboration includes the Verizon Forward Community Enhancement Award, with a $100,000 award for the TechLAUNCH program aimed at advancing technology skills and opportunities in the region.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:02 pm

BABA

FXI

PDD

Alibaba Group Holding Ltd (BABA) stock is trading lower, in line with the IShares China Large-Cap ETF (FXI), due to Moody's negative outlook on China's credit ratings. Alibaba lost its position as China's most valuable e-commerce company to PDD Holdings Inc (PDD). Cainiao, Alibaba's logistics arm, helped China achieve a record 120 billion parcel deliveries in 2023. Alibaba (China) Network Technology has transferred equity stakes in several companies to Hangzhou Haoyue Enterprise Management, including stakes in Focus Media and YTO Express.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 3:00 pm

F

GM

RIVN

TSLA

Tesla Inc (TSLA) and Rivian Automotive (RIVN) are redefining automotive concepts with the delivery of Tesla's Cybertruck and Rivian's opening of its flagship store in a historic theater. Tesla's Cybertruck, with its unique design, enters the lucrative pickup segment, while Rivian's store aims to create a unique retail experience. The electric pickup market is growing, with Rivian and Ford's (F) electric pickups seeing sales increases. General Motors (GM) plans to challenge Tesla with more affordable EV models and aims to sell 1 million EVs by 2025.

Portfolio Pulse from Upwallstreet

December 05, 2023 | 2:27 pm

HOV

Hovnanian Enterprises expects Q1 revenues to be in the range of $525M-$625M with an adjusted homebuilding gross margin projected to be between 22.0% and 23.5%.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:25 pm

GVA

Granite Construction Incorporated (NYSE:GVA) has acquired Lehman-Roberts Company and Memphis Stone & Gravel Company, expanding its footprint in the Memphis market. The acquisition prompts Granite to increase its 2024 revenue target to $3.8B-$4B. The acquisition is expected to be accretive to EBITDA, but the 2024 adjusted EBITDA margin target remains at 9%-11%. The acquisition was financed through a new $150M term loan and existing credit facilities.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:14 pm

BON

Bon Natural Life Limited (NASDAQ:BON) has signed a $45M contract with Beijing Huahai Keyuan Technology Co. Ltd. to distribute its broccoli product, Broclife®, in China. The deal gives Huahai priority rights to sell BON's product, which is expected to boost sales, profits, and shareholder returns. Broclife® is a health-focused broccoli seed extract product offering benefits like immunity support and anti-aging.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:09 pm

CDTX

Melinta Therapeutics and Cidara Therapeutics (NASDAQ:CDTX) announced the publication of pooled data from the ReSTORE Phase 3 and STRIVE Phase 2 trials of REZZAYO in The Lancet ID, demonstrating its efficacy and safety for treating candidemia and invasive candidiasis. REZZAYO, a once-weekly echinocandin, was approved by the FDA on March 22, 2023, for adults with limited treatment options and received a CMS J-Code and NTAP. Melinta acquired U.S. commercial rights from Cidara, who retains rights in Japan and licensed rights elsewhere to Melinta and Mundipharma. The EMA is reviewing the MAA for rezafungin.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:08 pm