Streetbeat News

Revenues

AMZN

FIVE

WMT

Pudgy Penguins, an NFT and IP brand development company, has made a significant comeback under CEO Luca Netz. The company has launched physical collectibles in Walmart stores and listed products on Amazon and Five Below. These toys include a QR code that introduces buyers to a digital experience and the ability to collect unique traits. Pudgy Penguins aims to create a consumer-facing product in the crypto space and is seeing increasing sales at Walmart. The company is also developing Pudgy World, a digital space accessed via QR codes, and plans to build a marketplace tool for licensing IP. Future plans include a book with Barnes and Noble and potentially a movie or TV show with Web3 integration.

Portfolio Pulse from Adam Eckert

November 14, 2023 | 9:03 pm

PEPEUSD

The GROK token's market value plummeted by $100 million following revelations that its developer was linked to past failed crypto projects. Despite the sell-off and a 70% price drop, the GROK community remains optimistic, with developers burning $1.7 million worth of tokens to boost confidence. The token's initial surge and subsequent decline highlight the volatile nature of the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

November 14, 2023 | 8:40 pm

BLK

COF

SCHW

Financial stocks, including a broad range of banks and financial services companies, experienced a rise in share prices following the release of October CPI data indicating inflation was softer than expected. This positive reaction reflects overall market strength and optimism that lower inflation could reduce pressure on the Federal Reserve to maintain an aggressive rate hike policy.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 8:30 pm

CVSI

CV Sciences, Inc. (OTCQB:CVSI), a wellness company specializing in hemp extracts, reported a revenue increase to $4.1 million in Q3 2023, up 9% from Q3 2022. Gross margin improved to 45.1%, and the company ended the quarter with a cash balance of $1.6 million. Positive cash flow from operations was $2.4 million, aided by a $2.5 million employee retention credit under the CARES Act. The company's shares were down 0.82% at $0.0302 per share.

Portfolio Pulse from Joana Scopel

November 14, 2023 | 8:03 pm

AAPL

PYPL

Mizuho analyst Dan Dolev maintains a Buy rating on PayPal (PYPL) with a reduced price target of $72, citing strong growth prospects despite competition from Apple Pay. Dolev notes PayPal's web traffic share from Temu has decreased in October, but remains optimistic about PayPal's potential to integrate PayPal and Venmo into a global digital wallet. He forecasts Q3 revenue and EPS slightly above prior estimates but below consensus, and Q4 revenue above consensus with EPS slightly below prior estimates.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 7:38 pm

TSLA

Goldman Sachs analyst Mark Delaney maintains a Neutral rating on Tesla Inc (TSLA) with a price target of $235. Delaney highlights Tesla's potential in AI licensing/services, particularly with its Full Self Driving (FSD) product and Dojo AI training. While acknowledging the competitive landscape, including Nvidia, he suggests Tesla's AI leadership could lead to significant market opportunities if executed well. Delaney estimates Tesla's FSD could generate $50-$100 billion annually by 2030, from the current $1-$3 billion. He forecasts FY23 revenue and EPS slightly below consensus at $96.8 billion and $2.64, respectively. TSLA shares were up 5.60% at $236.23 recently.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 7:34 pm

IMCC

IM Cannabis Corp (NASDAQ:IMCC) reported a 13% decrease in Q3 2023 revenue compared to the same period last year, with figures at CA$12.4 million. The company saw a net loss from continuing operations of CA$2.1 million, which is an improvement from CA$4.5 million in Q3 2022. Adjusted EBITDA loss decreased by 65% to CA$1.3 million, and gross profit increased by 30% to CA$2.6 million. Operating loss also decreased by 58% to CA$2.3 million. CEO Oren Shuster emphasized the company's move towards sustainable profitability and focus on high-end products in the Israeli market. CFO Itay Vago highlighted the impact of currency volatility but noted operational cost reductions. The company launched high THC strains and outsourced delivery services to save costs, amidst geopolitical tensions in Israel. IMCC's stock was up 1.03% at $0.44 per share.

Portfolio Pulse from Patricio Liddle

November 14, 2023 | 7:26 pm

NXPL

NextPlat Corp (NASDAQ:NXPL) shares surged following a positive third-quarter FY23 earnings report. The company reported a significant increase in sales to $15.29 million from $2.63 million in the previous year, with healthcare operations contributing $12.4 million due to the Progressive Care consolidation. E-commerce revenues grew by 11% Y/Y to $2.9 million. Gross margin expanded to 30%, and the company reported an EPS of $0.17, a substantial improvement from $(0.60) last year. NextPlat ended the quarter with $26.3 million in cash and equivalents, and shares rose by 10.58% to $2.09.

Portfolio Pulse from Shivani Kumaresan

November 14, 2023 | 6:52 pm

CVNA

Carvana Co (NYSE:CVNA) shares surged 17.5% to $33.64 without specific company news, likely reacting to a strong market influenced by positive CPI data indicating a decrease in US inflation from 3.7% to 3.2%. Lower inflation could lead to decreased interest rates, potentially reducing financing costs for Carvana and its customers, which may boost sales and revenue. The stock's movement reflects traders' anticipation of a favorable economic environment and potential rate cuts, which could benefit Carvana's business.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 6:42 pm

SAFRY

Safran (OTC:SAFRY) has secured contracts worth over $1.2 billion from Emirates, including a $1 billion deal for Safran Seats for Emirates' new A350, 777X-9, and existing 777-300 aircraft. The contracts also involve Safran Cabin providing Galley shipsets and Safran Landing Systems supplying wheels and carbon brakes for the A350 fleet. Additionally, a 10-year service agreement with Safran Aerosystems for 777 safety and cabin systems components repair and maintenance is included. Safran's stock price increased by 2.77% to $42.63.

Portfolio Pulse from Shivani Kumaresan

November 14, 2023 | 6:38 pm