Streetbeat News

Revenues

EWA

Australia's Home Loans for the month showed a significant increase of 5.6%, surpassing the estimated 0.8% and the previous month's -0.1%.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 5:25 am

EWA

Australia's company gross operating profits for Q3 have declined by 1.3%, which is more than the estimated decrease of 0.3%. This also represents a significant drop from the previous quarter's revised figure of -12.1%.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 5:24 am

AAPL

AMZN

DIS

IBM

WBD

WMT

Walmart Inc. (WMT) has joined other major companies in halting advertising on a platform (referred to as 'X' in the article) following Elon Musk's critical remarks. Kevin O'Leary, Chairman of O'Leary Ventures, also expressed skepticism about the platform's advertising effectiveness, choosing not to spend his $2 million monthly advertising budget there. Major companies like The Walt Disney Company (DIS), Warner Bros. Discovery, Inc. (WBD), International Business Machines Corporation (IBM), Apple Inc. (AAPL), and Amazon.Com, Inc. (AMZN) have paused or suspended campaigns on 'X'. The platform could face a $75 million downturn in ad revenue by year's end.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 6:20 pm

DIS

GME

META

TSLA

Benzinga's weekly review covers bullish and bearish perspectives on stocks like Tesla, GameStop, and Disney, as well as the cryptocurrency Dogecoin. The S&P 500, Dow, and Nasdaq saw gains, while Fed Chair Powell signaled a readiness to adjust policies amid inflation concerns. Tesla's Cybertruck launch is seen as a key event, Dogecoin's ownership is highly concentrated, and GameStop may see a surge. Disney faces a boardroom battle, China's foreign investment dips, and Meta struggles with VR headset sales.

Portfolio Pulse from Michael Cohen

December 02, 2023 | 2:44 pm

BYDDF

BYDDY

TSLA

BYD Co Ltd reported a 31% YoY increase in sales volume for November, with 301,903 new energy vehicles sold, including 170,150 BEVs, marking a 49% jump in the BEV segment. The company, backed by Warren Buffett's Berkshire Hathaway, has ceased production of oil-fueled vehicles since April last year, focusing solely on new energy vehicles. BYD's growth brings it close to Tesla Inc's sales figures, with BYD selling approximately 432,000 BEVs in Q3, just below Tesla's 435,000 units.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 9:01 am

TSLA

Ford Motor Co's CEO Jim Farley announced record sales for the F-150 Lightning in November, with nearly 4,400 units sold, doubling from last year. This comes as Tesla begins delivering its Cybertruck, which is more expensive than Ford's electric truck. Despite the competition, the Lightning's sales indicate strong demand and resilience against the new entrant in the EV truck market.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 5:05 am

AAPL

DIS

IBM

META

Elon Musk's confrontation with major advertisers like Apple, Disney, and IBM has led to a significant shift in strategy for X, with the company now targeting small and medium businesses for advertising revenue. The boycott by these large companies, due to concerns over hate speech and Musk's controversial statements, is expected to result in a $75 million revenue loss for X. CEO Linda Yaccarino emphasizes X's commitment to free speech in response to the situation. Mark Cuban has also questioned the effectiveness of advertising on X.

Portfolio Pulse from Rounak Jain

December 02, 2023 | 4:55 am

DIS

The Walt Disney Company (NYSE:DIS) faces potential backlash after suspending advertising on Twitter due to Elon Musk's interaction with an antisemitic post. Disney CEO Bob Iger defended the decision, while Musk criticized companies withdrawing ads. The controversy has led to trending calls to cancel Disney Plus and Hulu subscriptions, with a significant number of respondents in a poll indicating intent to cancel. This comes as Disney+ faces a December with fewer new releases and less holiday-themed content, which could impact Q1 streaming figures. Disney shares closed slightly lower on Friday.

Portfolio Pulse from Chris Katje

December 01, 2023 | 9:56 pm

PKANF

SBBCF

Simply Better Brands Corp reported a 45% increase in Q3 2023 revenue to $19.4 million, with a net loss decrease to $0.6 million and a positive adjusted EBITDA of $0.1 million. Strategic brands TRUBAR, No B.S. Skincare, PureKana, and Vibez Wellness contributed to growth. TRUBAR expanded in major retailers, PureKana added over 60k customers and entered the pet market, No B.S. Skincare extended to CVS and will launch in Walgreens, and Vibez Wellness targeted millennials with $3.7 million in revenue. CEO Kathy Casey emphasized continued growth, profit optimization, and debt reduction. PKANF shares traded at $0.2068.

Portfolio Pulse from Patricio Liddle

December 01, 2023 | 9:23 pm

BIG

Piper Sandler analyst Peter J. Keith maintained an Underweight rating on Big Lots, Inc. (NYSE:BIG) and lowered the price target from $6.00 to $3.50. Big Lots reported a 14.7% year-on-year sales decline in Q3 FY23, missing estimates. Keith anticipates continued comparable sales challenges in 2024, expecting negative EBITDA and cash burn. Despite cost-cutting efforts, including a $300 million reduction, and inventory management, Keith warns that increased closeout buys could lead to higher inventory and working capital commitments. He forecasts FY23 revenues of $4.725 billion with an EPS loss of $(11.05). BIG shares rose 19.45% to $6.30 on the last check Friday.

Portfolio Pulse from Nabaparna Bhattacharya

December 01, 2023 | 7:55 pm