Streetbeat News

Revenues

CURLF

GTBIF

MRMD

PLNH

TCNNF

TRSSF

VRNOF

The recent earnings reports from eight major Multi-State Operators (MSOs) in the cannabis industry show mixed results on revenue and EBITDA, but the standout detail is the positive Cash Flow from Operations (CFFO) in Q3. Most companies beat consensus projections for CFFO, with tax deferrals being a significant driver. Investors are advised to focus on CFFO rather than revenue or EBITDA, and to distinguish between repeatable cash flows and future cash outflows due to deferred payments. The Viridian Cannabis Deal Tracker provides insights into capital raise and M&A activity in the cannabis sector.

Portfolio Pulse from Viridian Capital Advisors

November 13, 2023 | 4:47 pm

ABNB

BKNG

TRIP

Bernstein analyst Richard Clarke has updated ratings and price targets for Tripadvisor Inc (TRIP), Airbnb Inc (ABNB), and Booking Holdings Inc (BKNG) based on strong travel demand and the outlook for 2024. Clarke upgraded TRIP from Market Perform to Outperform with a new price target of $21.40, citing a successful strategy to offset metasearch declines. BKNG was upgraded from Underperform to Market Perform with a price target of $2,940, as strong leisure demand and share buybacks have improved earnings estimates. ABNB maintained an Outperform rating but had its price target slightly reduced from $168 to $163, remaining Clarke's top pick with expectations of strong performance in 2024.

Portfolio Pulse from Priya Nigam

November 13, 2023 | 4:26 pm

ESPR

Esperion (NASDAQ:ESPR) presented results from a CLEAR Outcomes analysis at the American Heart Association Scientific Sessions 2023, showing that higher baseline inflammation is linked to an increased risk of cardiovascular events. The study found that bempedoic acid, found in Esperion's products NEXLETOL and NEXLIZET, reduced the vascular inflammatory marker hsCRP by 21.6% in patients, which may differentiate it from other LDL-lowering therapies. These results were also published in the journal Circulation.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 3:31 pm

AAL

ALK

DAL

JBLU

LUV

SAVE

SPY

UAL

The Biden Administration and airlines are predicting record air travel in the U.S. during the Thanksgiving holiday. This forecast suggests a strong rebound in travel demand, which could benefit airlines and related sectors.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 2:20 pm

GCTK

Glucotrack, Inc. (NASDAQ:GCTK) has announced a strategic shift from non-invasive point-in-time glucose monitoring to continuous glucose monitoring (CGM) technology. The company's CEO, Paul V. Goode, PhD, provided a shareholder update letter highlighting the change due to new clinical guidelines and market trends favoring CGM over traditional blood glucose monitoring (BGM). The company has made progress in developing an implantable CGM with a two-year sensor life and is preparing for long-term preclinical studies. Glucotrack is also exploring acquisitions and strategic collaborations to expand its portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 2:12 pm

ASTC

Astrotech Corporation's subsidiary, 1st Detect, has received a significant order for seven TRACER 1000 explosives trace detectors to be used at a Romanian airport security checkpoint. The TRACER 1000, powered by Astrotech Mass Spectrometer Technology, is the first certified ETD using mass spectrometry, offering high resolution and near-zero false alarms. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 2:06 pm

IMMR

Immersion Corporation (NASDAQ:IMMR) reported a decrease in Q3 adjusted EPS to $0.12 from $0.25 in the same period last year, while sales of $9.48M exceeded analyst estimates of $7.35M. However, this represents a 32.30% decrease in sales compared to $14.01M in the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 2:04 pm

ONDS

Ondas Holdings Inc. (NASDAQ:ONDS) subsidiary Airobotics is fast-tracking the development of the Iron Drone Raider, a counter-UAS system, to meet the needs of the Israeli Defense and homeland security forces. The system, which uses AI to autonomously detect and neutralize small hostile drones, is being enhanced with the support of major Israeli defense contractors. The counter-UAS market is expected to grow significantly, from $1 billion in 2023 to $4.7 billion by 2030. Airobotics recently acquired Iron Drone and received a grant from the Israel Innovation Authority to further develop the system.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:59 pm

BABA

LULU

NKE

PDD

Alibaba Group Holding Ltd (BABA) and JD.com Inc (JD) reported sales growth during China's Singles Day despite economic challenges and competition from ByteDance's Douyin. PDD Holdings Inc's (PDD) Pinduoduo also saw a significant rise in GMV. The event is a key indicator of consumer confidence, which is currently affected by China's economic issues. Alibaba offered aggressive discounts to boost sales, while analysts suggest streaming services may have seen better growth. Consumer spending is shifting towards essentials, with health and wellness products expected to perform well. BABA shares saw a slight decrease in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 13, 2023 | 1:58 pm

DRIO

DarioHealth Corp. (NASDAQ:DRIO) presented new research at the Diabetes Technology Society 2023 Meeting, demonstrating that users of Dario's digital health solutions who increased physical activity maintained reduced blood glucose levels. The study analyzed data from 989 users, showing significant health improvements over four months. Dario's platform integrates clinical and behavioral data to support chronic condition management, including diabetes, blood pressure, and weight, with a focus on whole health.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:55 pm