Streetbeat News

Revenues

OWLT

Owlet Inc. (OWLT) reported a narrower loss of $(0.70) per share in Q3 compared to $(2.38) per share in the same quarter last year, indicating an improvement in earnings. However, sales declined to $9.20 million from $17.36 million in the same period, representing a significant decrease in revenue year-over-year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:08 pm

SALM

Salem Media Group anticipates a decrease in total revenue of 6-8% for Q4 compared to the same period in 2022, signaling potential challenges in its business operations or market conditions.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:08 pm

SALM

Salem Media Group reported Q3 total revenue of $63.5 million, falling short of the estimated $65.235 million.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:07 pm

YMAB

Y-mAbs Therapeutics reported a 59% year-over-year increase in Q3 net product revenues for DANYELZA, totaling $20 million. This growth indicates a strong market uptake and positive performance for the company's product.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:06 pm

STLA

Stellantis, the parent company of Chrysler and brands like Jeep, Ram, and Dodge, is set to offer voluntary buyout packages to U.S. salaried workers with at least five years of experience. This move is part of cost-cutting efforts as the automaker faces a costly shift to electric vehicles and anticipates higher labor costs from an upcoming union contract. The announcement was made by COO Mark Stewart in an all-hands meeting.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:30 pm

AUVI

Applied UV, Inc. (NASDAQ:AUVI) reported preliminary Q3 2023 financial results with revenues of approximately $11.4 million, a 94.8% increase over the same period in 2022. Gross profit rose to about $2.7 million, up 216.6% from the previous year. The company expects an operating loss of $2.4 million and a net loss of $2.6 million for Q3 2023, slightly improved from Q3 2022. Adjusted EBITDA loss is estimated at $1.5 million for the quarter. The company reiterated its 2023 revenue guidance of $45 million and aims to be cash flow neutral in the latter half of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:08 pm

BMWYY

BYDDF

TSLA

VLKAF

Tesla Inc (NASDAQ:TSLA) is facing a decline in EV market share in China, with October 2023 deliveries down 2.6% from September, while BYD Co Ltd (OTCPK:BYDDF) saw a 5% increase. Tesla's aggressive discounts in China have affected margins, but with factory upgrades complete, the revamped Model 3 has begun deliveries. The Chinese market is focusing on AI and smart cockpits, with domestic and non-Chinese OEMs, including Volkswagen AG (OTCPK:VLKAF), Bayerische Motoren Werke AG (OTCPK:BMWYY), Toyota Motor Corp (NYSE:TM), and General Motors Co (NYSE:GM), investing in R&D. Elon Musk's new AI venture, xAI, has produced Grok, which may be integrated into Tesla vehicles to leverage their onboard computing for AI applications.

Portfolio Pulse from Surbhi Jain

November 13, 2023 | 5:46 pm

AMD

ASML

QCOM

SSNLF

Micron Technology Inc faces a lawsuit from Chinese chipmaker Yangtze Memory Technologies Co for alleged patent infringement, amidst escalating US-China tensions over semiconductor technology. The lawsuit, which involves eight patents, comes as the US increases restrictions on China, citing national security. China's retaliatory measures have impacted Micron's revenue, which has dropped significantly from 50% in FY17 to 16% in 2022. Micron's stock traded lower following the news.

Portfolio Pulse from Anusuya Lahiri

November 13, 2023 | 5:11 pm

AMD

GOOG

GOOGL

MSFT

OpenAI is seeking additional funding from Microsoft Corp (NASDAQ:MSFT) to pursue its artificial general intelligence (AGI) goals. Despite revenue growth, OpenAI remains unprofitable due to high training costs for AI models. Microsoft's previous investment in OpenAI was $10 billion, valuing the company at $29 billion. OpenAI is developing GPT-5 and enhancing its AI tools, with plans to generate over $1 billion in revenue in the next year. The company uses Nvidia's H100 chips but faces competition from Alphabet Inc (NASDAQ: GOOG, GOOGL) and Advanced Micro Devices, Inc (NASDAQ: AMD), who are developing rival chips.

Portfolio Pulse from Anusuya Lahiri

November 13, 2023 | 5:06 pm

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