Streetbeat News

Revenues

RTO.L

Rentokil Initial, a pest control firm, has warned of softer demand in North America, its biggest market. The company now expects an annual adjusted operating margin for North America of 18.5%-19%, down from its previous guidance of about 19.5%. This follows a 2.5% decline in its U.S. products wholesale distribution business in Q3. Despite this, Rentokil's total group revenue for Q3 rose nearly 60% to $1.70 billion, offset by strong performance in other regions.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:19 pm

CLF

Cleveland-Cliffs has announced a price increase for its hot rolled, cold rolled, and coated steel products. The price increase is expected to boost the company's revenues and profitability.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:58 pm

MSFT

NVDA

British chipmaker Graphcore, once touted as a promising rival to Nvidia in the AI chip market, is facing financial difficulties. The company's revenue dropped significantly last year, leading to an 11% increase in pretax loss to $204.6 million and a 46% decrease in revenue to $2.7 million. A major setback was Microsoft's decision not to integrate Graphcore's chips into its cloud computing platform. Graphcore is now seeking additional funding and restructuring its operations to meet its short- and medium-term obligations.

Portfolio Pulse from Aditi Ganguly

October 19, 2023 | 1:24 pm

UNP

Union Pacific executive stated that the company is closely monitoring the ongoing UAW negotiations and their negative impact on Q4 volumes due to persistent strikes. The company has leveraged a larger workforce to reduce borrow outs to the lowest total of the year and slowed hiring.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 1:10 pm

AAL

American Airlines has reported that nearly two-thirds of its revenue in the last quarter came from Advantage customers, who have proven to be a more resilient pool of demand.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 1:08 pm

GPRO

GoPro, Inc. (NASDAQ:GPRO) announced that its subscription service surpassed 2.5 million subscribers at the end of Q3, growing 20% year-over-year. The subscription service provides customers with various benefits including unlimited cloud storage, premium editing tools, and exclusive savings on GoPro cameras. The company plans to launch its all-new Quik desktop app later this year as an additional benefit to subscribers at no extra cost.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 1:06 pm

AAL

American Airlines' CFO has stated that the company expects steady demand during the upcoming peak holiday travel season, consistent with recent trends.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 12:46 pm

AAL

American Airlines' CFO has announced that the delivery of two narrow-body aircraft has been delayed until 2024, reducing the total number of aircraft expected to be delivered in 2023 to 21. However, post Labor Day bookings have been in line with estimates.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 12:46 pm

OTRK

Ontrak Health (NASDAQ:OTRK) has announced the results of an evaluation of its WholeHealth+ program, which showed significant savings of $750 per member per month (PMPM) for Medicaid members of a prominent health plan customer. This is in addition to previously measured savings of $485 PMPM for Medicare and Commercial members. The program uses AI and telehealth to identify and support Medicaid members in need of specialized care.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 12:13 pm

LRHC

La Rosa Holdings has acquired a controlling interest in its franchisee, Horeb Kissimmee Realty LLC. In 2022, Kissimmee generated revenue of $10.8M and had positive net income.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 11:59 am