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Revenues

FUTU

IBKR

SCHW

TIGR

Futu Holdings Ltd. (NASDAQ:FUTU) reported a 36% increase in overall revenue in Q3, driven by a 5.3% rise in fee-based revenue and a significant 71% increase in interest income due to U.S. Federal Reserve rate hikes. The company expanded into Japan and Canada, now serving seven markets. Despite a challenging global stock market, Futu's diverse investment products and geographic expansion helped grow its paying client base by 14% year-on-year to 1.65 million. Analysts are cautious about future growth as the interest income boost may fade. Futu's stock performance remains strong, with a year-to-date increase of over 40%, and a P/E ratio of 17, comparable to Charles Schwab (NYSE:SCHW) but lower than Interactive Brokers (NASDAQ:IBKR) and UP Fintech (NASDAQ:TIGR). Futu's entry into Japan faces challenges from zero-commission trading by local brokers, but the company sees potential profitability by offering U.S. stock trading to Japanese customers and introducing Japan stock trading to clients in other markets.

Portfolio Pulse from The Bamboo Works

December 04, 2023 | 1:43 pm

SMFL

Smart for Life, Inc. (SMFL) has announced a Letter of Intent to acquire a manufacturer of vitamins and supplements, which is expected to contribute approximately $20 million in revenue over the next year. This acquisition aligns with the company's M&A strategy in the nutraceutical space and is anticipated to be the largest to date. The acquisition is expected to bring manufacturing capabilities in-house, create synergies with existing channels and brands, and be accretive to Smart for Life's operations. The completion of the acquisition is contingent upon due diligence and other closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:42 pm

AMZN

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) announced that its patented beverage, Safety Shot, sold out within hours on Amazon.com after an unexpected early release. The product, designed to reduce blood alcohol content and boost clarity, was made available on November 30th, a day ahead of schedule. CEO Brian John expressed surprise at the high demand and is working to increase production. The beverage is priced at $19.99 for a 4-pack and will be restocked soon. It is also available on the company's website and is expected to be in retail stores in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:37 pm

BYON

Beyond, Inc. (NYSE:BYON), the parent company of Bed Bath & Beyond, reported a 24% year-over-year revenue growth during the Cyber 5 sales period. The company also announced a fixed cost restructuring plan aiming to reduce annual costs by $25 million by early 2025. This plan includes a 10% workforce reduction, facility resizing, vendor contract renegotiations, and outsourcing. The savings are expected to start in late Q4 2023, with full annualized savings realized by 2025.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:33 pm

COGT

Cogent Biosciences, Inc. (NASDAQ:COGT) announced an investor webcast on December 11, 2023, to review clinical data from SUMMIT Part 1a for Nonadvanced Systemic Mastocytosis and APEX Part 1 for Advanced Systemic Mastocytosis. The data will be presented at the ASH Annual Meeting, with the SUMMIT data in an oral presentation on December 9 and the APEX data in a poster session on December 11. The webcast will feature presentations by experts in the field and will be accessible on Cogent's website.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:13 pm

SLNA

Selina Hospitality PLC (NASDAQ: SLNA) announced plans for fundraising and liability management, including a potential $68 million in strategic investments led by Osprey Investments Limited and others. The company aims to restructure its $147.5 million 6.00% convertible senior notes due 2026, with agreements in principle for a $28 million equity financing and an optional $40 million equity financing. The restructuring includes converting some debt to equity, extending maturity dates, and securing the Selina brand as collateral. The transactions are subject to definitive agreements and shareholder approval, with the goal of strengthening the balance sheet and achieving profitability.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:04 pm

AAPL

INDA

Apple's supplier Pegatron has suspended iPhone production at its facility near Chennai, India, due to heavy rains, according to sources cited by Reuters.

Portfolio Pulse from Charles Gross

December 04, 2023 | 12:24 pm

FAMI

Farmmi, Inc. has announced a new order for its dried Shiitake mushrooms, which are to be shipped to Canada. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:21 pm

GP

GreenPower Motor Company Inc. has received its first order for the Nano BEAST all-electric school buses destined for the New York market, facilitated by its dealer Leonard Bus Sales. This marks a significant step for GreenPower in expanding its presence in the electric school bus segment, particularly in New York, which is a key market for electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:17 pm

SAIC

Science Applications International Corp (SAIC) reported net bookings of $2.5 billion, indicating a strong book-to-bill ratio of 1.3. The company's estimated backlog stands at $23.1 billion, suggesting a healthy pipeline of future revenue.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:08 pm