Streetbeat News

Revenues

GLBE

Globe-E Online's stock price has declined following the release of their Q3 revenue results, which fell short of expectations. Additionally, the company's revenue guidance for Q4 and the full fiscal year 2023 is below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 4:01 pm

ALC

Alcon's stock is trading lower following the release of their Q3 financial results, which fell short of expectations. Additionally, the company's revenue guidance for the full year 2023 was below analyst estimates, further impacting the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:44 pm

XRPUSD

Brendan Berry of Ripple expressed excitement about the tokenization revolution at Benzinga’s Future Of Digital Assets event. He cited data predicting $10 trillion in tokenized assets by 2030 and discussed the benefits of blockchain technology in tokenization. The panel included representatives from Tron Network, Truist Ventures, and Milo. Berry referenced HSBC's partnership with Medeco for tokenized securities and gold as an example of major financial institutions adopting tokenization. Roland Berger analysts forecast a market worth $10 trillion for asset tokenization by 2030, a significant increase from the current $300 billion.

Portfolio Pulse from Tanzeel Akhtar

November 15, 2023 | 3:33 pm

OLB

OLB Gr reported Q3 EPS of $(0.12), missing the $(0.03) estimate by 300%, but sales of $9.69M exceeded the $6.56M estimate by 47.71% and grew 55.11% from last year.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:24 pm

LVO

PODC

PodcastOne, a subsidiary of LiveOne, has acquired exclusive rights to the 'Lost In Panama' podcast, including IP for potential TV/film adaptations. The acquisition, paid in stock, is expected to be immediately accretive to revenues and EBITDA. 'Lost In Panama' was a top true crime podcast in 2022, with over 2 million downloads. PodcastOne plans to continue expanding its library and has added 19 new shows this year.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:16 pm

CBSTF

MSOS

MSOX

The article discusses the current state and potential growth of the U.S. cannabis industry, highlighting the challenges such as taxation and stock custody issues. It mentions the sequential growth of TerrAscend and the resolution of a lawsuit in New York that could expedite the opening of new dispensaries. The New Jersey cannabis market is approaching $1 billion in sales, and Ohio is discussing marijuana legalization law amendments. A survey suggests cannabis is preferred over other sleep aids. The U.S. hemp industry's future hinges on the Farm Bill extension. Cannabis stocks showed volatility, with MSOS experiencing a significant rally. The article also touches on international developments in cannabis legalization and the need for policy change at the federal level.

Portfolio Pulse from Todd Harrison

November 15, 2023 | 3:16 pm

PSNY

Polestar Automotive Holding UK Ltd (NYSE:PSNY) shares rose after announcing the start of production for the Polestar 4 vehicle. The first unit has been produced at the Hangzhou Bay factory, which uses renewable electricity. The Polestar 4 is touted to have the lowest carbon footprint of any Polestar car at launch. CEO Thomas Ingenlath highlighted the vehicle's design, performance, and innovative features like a digital rear-view mirror. Additional manufacturing will begin in Busan, South Korea, in the second half of 2025 for local and North American markets. At the time of publication, PSNY shares were up 4.6% at $2.27.

Portfolio Pulse from Adam Eckert

November 15, 2023 | 3:04 pm

JPM

JPMorgan Chase & Co's digital token, JPM Coin, is expected to handle up to $10 billion in daily transactions in the next one to two years, a substantial increase from the current $1 billion. Since its 2019 launch, JPM Coin has processed $300 billion in transactions and recently expanded to include Euro transactions. The Onyx blockchain system, which powers JPM Coin, has introduced programmable payments, allowing for automated and real-time financial operations. Siemens has already utilized the system for account transfers.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 2:58 pm

CMMB

GLBE

HRTX

ISPR

JGGC

TSHA

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Producer prices in the U.S. fell by 0.5% in October, the most significant drop since April 2020, defying expectations of a 0.1% rise. Chemomab Therapeutics, Heron Therapeutics, and Taysha Gene Therapies saw their stocks surge after various announcements, while Jaguar Global Growth Corporation, Ispire Technology, and Global-e Online experienced significant declines. Oil and gold prices fell slightly, while silver and copper rose. European shares were up, and Asian markets closed higher, with notable economic data from the Eurozone and Asia Pacific regions.

Portfolio Pulse from Lisa Levin

November 15, 2023 | 2:57 pm

AMGN

deCODE Genetics, a subsidiary of Amgen, published a study in the New England Journal of Medicine on actionable genotypes in the Icelandic population. The study found that 4% of Icelanders carry genotypes associated with serious diseases, which can significantly shorten lifespan. The Icelandic government is motivated by these findings to pursue a nationwide precision medicine effort. Amgen's deCODE has discovered genetic risk factors for many diseases and aims to improve disease diagnosis, treatment, and prevention.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:54 pm