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AMRC

Ameresco Inc (NYSE:AMRC) has signed a contract to build a battery energy storage system (BESS) for Silicon Valley Power (SVP) to enhance electrical system reliability. The BESS, named Kifer Energy Storage LLC, will have a capacity of up to 50-megawatts and 200 megawatt-hours. Construction is set to begin in mid-2024, initiating a 25-year lease and Energy Storage Agreement with the City of Santa Clara. Ameresco will develop, own, and operate the BESS, which aims to integrate renewable energy, reduce reliance on gas-fired generation, and cut emissions. Despite the positive news, AMRC shares dropped by 1.90% to $28.39.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 3:50 pm

GOVT

U.S. Treasury Secretary Janet Yellen stated in a CNBC interview that there has been 'considerable progress' in the fight against inflation, attributing this success to recent legislation such as the Infrastructure bill, Chips and Science Act, and Inflation Reduction Act. She also emphasized the importance of supporting Ukraine and Israel for U.S. national security. Following her remarks, U.S. Treasury yields remained stable, and the iShares 20+ Year Treasury Bond ETF and iShares U.S. Treasury Bond ETF (GOVT) saw a slight decline.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 3:31 pm

YMM

Full Truck Alliance Co Ltd (NYSE:YMM) reported a 25.2% year-over-year increase in Q3 FY23 sales, reaching ¥2.26 billion ($310.30 million). The growth was driven by a 25.8% rise in freight matching services revenues. Adjusted operating income surged by 88.8% Y/Y to ¥458.5 million, and adjusted net income per ADS increased to ¥0.78 ($0.11) from ¥0.46 a year ago. The company experienced a rise in general and administrative expenses due to higher share-based compensation and a settlement of a U.S. securities class action. YMM's cash and equivalents totaled $3.8 billion as of September 30, 2023. The company also repurchased 22.8 million ADSs for $147.3 million. With a 27.0% increase in fulfilled orders and a 15.0% rise in average shipper MAU, YMM expects Q4 revenues to grow by 18.2%-20.6% Y/Y. YMM shares rose by 14.19% to $8.01.

Portfolio Pulse from Lekha Gupta

November 20, 2023 | 3:22 pm

VEON

VEON Ltd. (NASDAQ:VEON) reported a 6.1% Y/Y increase in Q3 FY23 sales, reaching $945 million. 4G and Multiplay user revenues rose by 15.4% to $474 million, and service revenue grew by 6.9% to $913 million. EBITDA was up 17% to $444 million, with a margin expansion of 440 basis points to 47%. Net debt stood at $1.3 billion, while EPS from continuing operations decreased slightly to $0.07 from $0.08. The company has $2.2 billion in cash and equivalents. VEON raised its FY23 revenue and EBITDA growth outlook but lowered its Capex intensity outlook. Shares dropped by 1.86% to $19.50.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 2:54 pm

DIS

FOX

Hotstar set a new viewership record in India with 59 million concurrent viewers for the World Cup cricket match, surpassing JioCinema's peak of 32 million. Despite this, Walt Disney Co (NYSE:DIS), which owns Hotstar, has lost over 23 million subscribers in India over the past year. Disney is considering various options for its future in India and has held talks with Reliance and other firms. The market shift has led Disney to focus on core businesses, facing competition from Ambani's Viacom18, which is investing heavily in IPL streaming. Disney maintains high expectations for the ICC Cricket World Cup viewership.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 2:23 pm

F

GM

STLA

Workers at Ford, Stellantis, and General Motors represented by the United Auto Workers union have overwhelmingly ratified new contracts that include pay raises across the industry. These agreements are expected to set a precedent for workers' compensation as the industry transitions away from gasoline-fueled vehicles.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:23 pm

JNVR

Janover, which may be referred to as JNVR, has announced its expectation to convert nearly 15% of its revenue to SaaS subscription software revenue, according to an exclusive report by Benzinga.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:01 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) is eligible for a $1.5 million refund from the IRS for the Employee Retention Tax Credit. The company increased its headcount during the pandemic and did not rely on PPE loans or other grant programs. The tax credit will help reduce the need for dilutive capital and support the company's commitment to providing high-quality US jobs.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:01 pm

DGX

Universal DX (UDX) has announced a strategic collaboration with Quest Diagnostics (NYSE:DGX) to bring an advanced colorectal cancer screening blood test, Signal-C®, to the U.S. market, pending FDA approval. The collaboration includes a 15,000-patient study for FDA premarket approval, with Quest providing clinical laboratory services. UDX also closed its series B financing round, raising approximately $70 million, with Quest as an investor. Signal-C® has shown high sensitivity and specificity in preliminary studies and aims to improve screening accessibility and convenience.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:55 pm

RGCO

RGC Resources reported an increase in FY23 EPS to $0.10 from $(0.10) year-over-year, but missed revenue estimates with $12.467M compared to the expected $15M.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:52 pm