Streetbeat News

Revenues

AMZN

Amazon.com, Inc (NASDAQ:AMZN) is targeting $20 billion in merchandise exports from India by 2025, focusing on small sellers. Bhupen Wakankar, director of global trade at Amazon, highlighted the growth of entrepreneurs on the platform and the demand for 'Made in India' products. Amazon Global Trade has over 100,000 small manufacturers from India, with many experiencing a 70% annual business growth. The company has reduced subscription fees for its global selling program to support exporters. AMZN shares saw a slight increase of 0.10% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 2:16 pm

CYTO

Altamira Therapeutics has initiated a strategic repositioning by partially spinning off its Bentrio business. The company has entered into a binding agreement to sell a 51% stake in Altamira Medica for approximately $2.3 million, while retaining a 49% share of the company's capital. Additionally, Altamira Therapeutics is entitled to receive 25% of future licensing income from the business.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 2:06 pm

BJ

BJ's Wholesale Club Holdings Inc (NYSE:BJ) reported Q3 FY23 sales of $4.92 billion, missing estimates by $0.04 billion. Comparable club sales were up 0.3%, with flat sales excluding gasoline. Membership fee income rose 6.6%, and digitally enabled sales increased 16% Y/Y. Gross profit and operating income saw modest increases, while adjusted EPS of $0.98 beat estimates by $0.02. The company repurchased $17.1 million in stock and reaffirmed its FY23 EPS guidance, but lowered its comparable club sales growth forecast. BJ's stock fell 4.59% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

November 17, 2023 | 2:04 pm

EDBL

Edible Garden has implemented technology funded by a grant from BRISEA and has also received a new grant from the NJ Economic Development Authority. This move could enhance the company's operations and financial health.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 2:02 pm

AMAT

ASML

KLAC

LRCX

Chipmaking equipment manufacturers like Lam Research and ASML are seeing a surge in revenue from China, which accounts for over 40% of their sales, despite U.S. trade restrictions. Lam Research reported nearly half its revenue from China, while ASML, despite a ban on its most advanced systems, also saw significant Chinese sales. Applied Materials experienced elevated sales in China and anticipates a return to the typical 30% level over time. Industry experts warn that China's strategy to front-load orders may not be sustainable, and stricter export rules could impact future growth. A U.S. criminal investigation into Applied Materials for alleged export violations has raised concerns, affecting its stock and peers like KLA Corp and Lam.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 1:39 pm

PXDT

Pixie Dust Technologies, Inc. (PXDT) reported a 10.8% increase in FY23 revenue to $5.2M, driven by product sales, particularly the SonoRepro and iwasemi. However, service sales declined due to reduced demand for their COVID-19 related service, magickiri. R&D expenses remained flat, while SG&A expenses rose significantly due to marketing and IPO-related costs. The net loss widened to $14.5M from $8.2M the previous year. The company ended the fiscal year with $15.7M in cash and cash equivalents.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:33 pm

SPY

U.S. housing starts in October increased to 1.372 million, surpassing the estimate of 1.345 million and the previous month's figure of 1.358 million.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:30 pm

SPY

The number of building permits issued in October was 1.487 million, exceeding the estimate of 1.45 million. This indicates a potential increase in future construction activity, which could have positive implications for the housing market and related industries.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:30 pm

RHE

Regional Health Properties (AMEX:RHE) reported a narrower Q3 loss of $(0.52) per share compared to $(1.48) YoY, but sales declined to $4.14M from $11.03M YoY, indicating a mixed financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:28 pm

STX

UBER

VRTX

WSM

Insiders at Williams-Sonoma, Uber Technologies, Vertex Pharmaceuticals, and Seagate Technology have recently sold shares of their companies. Williams-Sonoma's CEO sold shares after reporting better-than-expected earnings, while Uber's CEO sold shares following a revenue miss. Vertex Pharmaceuticals' EVP and CMO sold shares after a gene therapy received conditional marketing authorization in the UK. Seagate Technology's EVP & Chief Commercial Officer sold shares after reporting a significant revenue decline.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:26 pm