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Revenues

SQ

Square and Afterpay reported a record-breaking Black Friday and Cyber Monday with 70 million transactions, marking a 14% increase from the previous year. In-person shopping rose by 15%, while online cart sizes were 3.9 times larger than in-person. Additionally, 9% more businesses adopted omnichannel strategies to attract both in-person and online buyers. This data compares the 2022 to 2023 Black Friday through Cyber Monday weekend.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:27 am

UXIN

Uxin Ltd (NASDAQ:UXIN), a Chinese used car retailer, reported a 42.5% Y/Y decline in Q2 FY24 sales to $48.8 million and a 35.8% decrease in transaction volume. The adjusted loss per ADS was $(0.01). Despite the decline, the gross margin improved to 6.2% from 1.3% Y/Y. The company aims for EBITDA profitability at the superstore level by March 2024 and overall company profitability by September 2024. Q1 revenue also fell by 53.8% Y/Y to $39.9 million. Uxin anticipates Q3 revenue between RMB 410 million to RMB 430 million. The stock is down 61.2% YTD but traded 2.15% higher premarket.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 11:23 am

LITB

LightInTheBox Holding Co., Ltd. (LITB) reported a 27.51% increase in Q3 sales to $154.32 million, up from $121.03 million year-over-year, with apparel sales contributing $127 million.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:06 am

PDD

PDD Holdings reported a significant increase in its Q3 adjusted earnings per ADS, posting RMB11.61 ($1.55) compared to RMB8.62 year-over-year. Sales also surged by 94% to RMB68.8 billion ($9.44 billion).

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 10:35 am

GOOG

GOOGL

JNJ

MSFT

Netherlands-based biotech startup Cradle, specializing in AI-powered protein design and engineering, has raised $24 million in Series A funding led by Index Ventures and Kindred Capital. Former Merck lead director Tom Glocer and Recursion co-founder Chris Gibson also invested. Cradle's technology accelerates R&D projects, including vaccines and antibodies, by leveraging generative AI and ML. The company plans to use the funds to expand its teams and invest in product development and sales. Alphabet's Google Brain alum Stef van Grieken is Cradle's co-founder and CEO. Pharmaceutical companies like Johnson & Johnson are also using generative AI for product engineering.

Portfolio Pulse from Rounak Jain

November 28, 2023 | 10:10 am

UXIN

Uxin Ltd has opened a flagship factory store in Hefei, China, which started trial operations in September. Despite economic challenges, Uxin's retail sales volume grew by 35.6% in Q2, reaching 2,287 units. The Hefei store, a joint venture with Hefei City, features advanced used car remanufacturing and is the world's largest used car retail superstore, with a capacity for 10,000 vehicles. This store is expected to drive Uxin's business growth in the future.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:14 am

META

Instagram, owned by Meta Platforms Inc. (NASDAQ:META), is under scrutiny for suggesting sexualized content of minors to adult users. The Wall Street Journal and the Canadian Centre for Child Protection confirmed these practices. Meta faces a lawsuit from 33 states for not addressing harm to young girls and failing to close underage accounts. Advertisers like Match and Bumble are reportedly withdrawing ads from Instagram. Meta has responded, emphasizing their commitment to preventing such content. This controversy raises questions about Meta's enforcement of policies against explicit content, especially following recent NSFW malware attacks on Facebook and criticism from a whistleblower.

Portfolio Pulse from Ananya Gairola

November 28, 2023 | 9:07 am

UXIN

Uxin (NASDAQ:UXIN) reported a significant decrease in sales for Q2, with revenues of $48.80 million, down 43.90% from $86.99 million in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 8:41 am

ESLT

Elbit Systems (NASDAQ:ESLT) reported a 17.86% increase in Q3 adjusted EPS to $1.65, up from $1.40 YoY. Sales rose 11.31% to $1.50B, up from $1.35B YoY.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 8:11 am

CLCO

Cool Co (NYSE:CLCO) reported a significant increase in Q3 sales to $92.9M, up from $65.83M year-over-year (YoY). Net income also rose to $39.17M from $36.77M YoY.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 7:31 am