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Revenues

RIVN

Rivian Automotive, Inc. (RIVN) received final approval for its $5 billion EV plant in Georgia, two years after its announcement. The Georgia Supreme Court cleared Rivian of legal challenges, allowing the company to proceed with the Stanton Springs North project. The plant will produce more affordable EVs based on the R2 platform, with an expected MSRP of around $40,000. The facility aims to start assembly in 2026, reach an annual output of 400,000 vehicles, and create 7,500 jobs by 2028. Construction is set to begin in early 2024.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:46 pm

VTRU

Vitru Limited reported Q3 sales of $99.98M and an increase in its student base to 860.7K, which is up by 15.6% compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:39 pm

SRM

SRM Entertainment reported a decline in Q3 2023 revenue to $1.128M from $1.517M in the same quarter the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:33 pm

HES

Hess Corporation (NYSE:HES) has announced the commencement of production from the Payara development on the Stabroek Block offshore Guyana. The Prosperity FPSO, which will be used for production, is expected to reach an initial production of 220,000 gross barrels of oil per day by the first half of 2024. The Stabroek Block's production capacity has now increased to approximately 620,000 gross barrels of oil per day. The Payara development is the third of multiple planned oil developments on the block, with future projects expected to bring the total production capacity to over 1.2 million barrels per day by the end of 2027.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:28 pm

BYDDY

LI

TSLA

Li Auto (NASDAQ:LI) surpassed Tesla (NASDAQ:TSLA) in October car sales, selling 40,422 cars compared to Tesla's 28,626. Li Auto expects to maintain similar monthly sales in Q4 and is launching new battery-only vehicles in 2024. Li Auto reported strong Q3 results with a profit of $386 million and revenue of $4.75 billion. Tesla, facing competition from BYD (OTC:BYDDY) and others, reported its first revenue and earnings miss since 2019. BYD is expanding in Europe with a new facility in Hungary.

Portfolio Pulse from Upwallstreet

November 14, 2023 | 1:22 pm

STRS

Stratus Properties reported a year-over-year decline in earnings per share, from $(0.29) to $(0.35), and a decrease in revenue from $9.977 million to $3.669 million.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:17 pm

MYPS

PLAYSTUDIOS has secured a five-year extension, with an additional three-year option, to its exclusive mobile licensing agreement with The Tetris Company for the TETRIS game. This strategic move aims to support PLAYSTUDIOS' future player and revenue growth by leveraging the globally recognized TETRIS brand. The partnership has already led to the integration of PLAYSTUDIOS' myVIP loyalty program into the TETRIS mobile game, resulting in improved player retention and monetization. The Tetris Company praises PLAYSTUDIOS for being exceptional stewards of the brand.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:17 pm

JNVR

Janover Inc. reported an 11% increase in Q3 revenues year-over-year, totaling $583,785. However, earnings per share (EPS) declined, with a loss of $(0.17) compared to a loss of $(0.04) in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:16 pm

JNVR

Janover (NASDAQ:JNVR) reported Q3 earnings with a 325% increase in losses per share to $(0.17), compared to $(0.04) YoY. However, revenues rose by 11.12% to $583.78K from $525.36K YoY.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:15 pm

CI

Express Scripts, a subsidiary of The Cigna Group (NYSE:CI), has introduced Express Scripts ClearNetworkSM, a new pharmacy network option offering simple, cost-plus pricing for medications. This model uses industry benchmarks to estimate drug costs, adding a flat fee for dispensing and a maximum 15% service fee. It will be available in early 2024 to over 65,000 retail pharmacies in the network. The initiative aims to simplify prescription drug pricing and highlight the role of drug manufacturers in high costs, while building on Express Scripts' commitment to transparency and affordability.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:15 pm