Streetbeat News

Revenues

DE

Deere & Company's CFO reported during a conference call that demand in Brazil weakened significantly more than anticipated in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:26 pm

SOL

Emeren Group Ltd (NYSE:SOL) shares dropped over 9% after reporting Q3 FY23 results with revenue of $13.95 million, significantly missing the consensus estimate of $28.29 million. The decline of 42% Y/Y was attributed to delayed government approval for a solar project in Hungary. Despite this, gross profit increased to $5.7 million with a higher margin compared to the previous year. The company posted an adjusted EBITDA loss and a loss per ADS, both missing consensus estimates. Emeren's FY23 outlook anticipates lower revenue than expected but projects a net income and a gross margin within a specific range. SOL's stock price fell to $2.3807.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 3:21 pm

USO

Venezuela's Deputy Oil Minister Erick Perez announced that the country is currently producing 850,000 barrels of oil per day, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:17 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS), a technology company, announced that its subsidiary, Charging Robotics Ltd., received approval for funding from the Israeli Innovation Authority for a pilot project on wireless EV charging in automated parking systems. The project, in cooperation with Parkomot Ltd., aligns with the Israeli Ministry of Energy's goals for EV market adoption. The total budget is approximately $445,000, with 50% financed by the Israel Innovation Authority.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:14 pm

SPY

Michigan Consumer Expectations for November came in at 56.8, slightly below the estimate of 56.9 and down from the prior figure of 59.3. This indicates a slight decline in consumer sentiment, which could have implications for consumer spending and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:00 pm

TOPS

TOP Ships Inc. has successfully extended the time charter employment for two of its Very Large Crude Carriers (VLCC) for approximately three years. The daily rate for each vessel is set at $41,500, with an option for the charter to extend for an additional two years.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:19 pm

FRSX

Foresight Autonomous Holdings reported an improvement in its Q3 2023 financial results with an adjusted EPS of $(0.01), up from $(0.02) in the same quarter the previous year. Revenue also increased to $304K from $203K year-over-year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:18 pm

GDC

GD Culture Group Limited (NASDAQ:GDC), through its subsidiary AI Catalysis Corp., announced the release of DigiTrax Entertainment's AI music production software, KR38R PRO. This tool, which has been in development for seven years and is based on seven patents, integrates with major digital audio workstations to streamline the music composition process. The launch is part of a series of AI-powered music technology products that aim to transform the music industry and provide value to artists, labels, and shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:13 pm

BTI

British American Tobacco (NYSE:BTI) is facing industry changes with strategic adaptations. Despite a 21.36% stock decline YTD, BTI shows resilience with investments in 'new categories' like vaping, which contribute to 26% revenue growth. The company's financials are stable, with equity holdings exceeding long-term debt. Investors are considering if the stock drop is a buying opportunity, reflecting a Warren Buffett-style value investment with a 9% yield.

Portfolio Pulse from Surbhi Jain

November 22, 2023 | 2:10 pm

IPA

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) announced the launch of BioStrand's advanced AI-driven drug discovery platform, integrating diverse data modalities with proprietary HYFT technology and LENSai platform. The platform aims to enhance accuracy and interpretability in drug development, leveraging Vertical AI for tailored therapies. The market for AI in healthcare is expected to grow significantly, positioning ImmunoPrecise and BioStrand as potential leaders in AI-driven biotherapeutic research.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:06 pm