Streetbeat News

Revenues

SEMR

Growth Skills, a NYC-based growth marketing consultancy, has developed a media strategy that generated over $500,000 in revenue in less than a year for a CBD and cannabis brand. The strategy involved a specialized publishing platform, FlavorFix.com, and the use of Semrush's (NYSE:SEMR) SEO and content marketing tools. The approach led to more than $2 million in new business sales leads, $513,000 in tangible revenue, and a significant increase in Google Search Impressions and unique monthly visitors.

Portfolio Pulse from Javier Hasse

October 16, 2023 | 5:33 pm

MSFT

Microsoft's LinkedIn plans to lay off 668 employees across its engineering, talent, and finance teams, adding to the tens of thousands of job losses in the tech sector this year. This is the second round of job cuts for LinkedIn amid slowing revenue growth and an uncertain economic outlook. The layoffs are in addition to the 10,000 from January. LinkedIn's revenue increased 5% YoY in Q4, compared to 10% in the previous quarter. Microsoft cited a slowdown in hiring and a decline in advertising spending as headwinds for LinkedIn.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 5:12 pm

AMZN

PTON

WMT

Amazon's Prime Big Deal Days event saw a significant increase in sales and daily active users (DAUs) compared to last year, despite consumer spending challenges. Analyst Nicholas Jones from JMP Securities reiterated Amazon with a Market Outperform and a $175 price target. The event also saw over 150 million items sold from third-party sellers, which could boost Amazon's 4Q margins. Peloton also saw an increase in purchases on Amazon during the event. However, Jones does not view the event as a significant incremental benefit to Amazon's revenue.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 5:09 pm

AAPL

ALB

AZN

BTCUSD

CVS

HON

MANU

NVAX

NWSA

PFE

RAD

WBA

Bitcoin's price spiked on false rumors of an ETF approval by BlackRock. Albemarle Corporation withdrew its offer to acquire Liontown Resources. Pfizer cut its annual revenue guidance by $9B due to a slump in COVID-19 vaccine sales, and BioNTech warned of €900M write-offs. Rite Aid filed for Chapter 11 bankruptcy. AstraZeneca's Tagrisso-Chemo combo is under FDA priority review. Honeywell projects a 10% increase in new business jet deliveries in 2024. WeWork appointed David Tolley as CEO. Novavax faces a setback as the EMA delays a decision on its COVID-19 vaccine. Activist shareholder Starboard Value acquired a stake in News Corp. Goldman Sachs is reconsidering its consumer lending venture. Manchester United shares fell as the Qatari group pulled away from acquisition. Apple is reshuffling its executive ranks and focusing on reducing the price of Vision Pro. Walgreens and CVS pharmacy staff are planning a nationwide walkout over poor working conditions.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 2:35 pm

VUZI

Vuzix Corporation (NASDAQ:VUZI), a supplier of smart glasses and Augmented Reality (AR) technology, has received and partially delivered additional follow-on and new design orders from three Tier-1 aerospace and defense contractors. The revenue from these orders is in the mid six-figure range. The company expects to receive additional non-recurring engineering orders for subsequent phases from some of these contractors. The final product designs could lead to production program orders.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:22 pm

LRHC

La Rosa Holdings Corp. (NASDAQ: LRHC) has acquired a controlling interest in its franchisee, La Rosa Realty Lake Nona, Inc., which generated over $9.8 million in revenue and positive net income in 2022. The acquisition is expected to expand La Rosa's footprint in Florida and increase its top line revenue. The company plans further franchisee acquisitions, which are expected to improve both top and bottom lines.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:16 pm

FSI

Flexible Solutions International (FSI) reported a decrease in its Q3 2023 revenue, which fell by approximately 26% YoY from $11.685M in Q3 2022 to $8.698M in Q3 2023. The company attributes the decline to lower sales to existing customers and difficulties in acquiring new customers due to economic uncertainty.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:15 pm

ATEC

Alphatec Holdings, Inc. (NASDAQ:ATEC) has announced preliminary Q3 2023 revenue results and raised its full-year revenue guidance. The company now expects Q3 revenue to be between $117.7M and $118.5M, compared to the estimated $111.78M. The full-year 2023 revenue guidance has been raised from $462M to approximately $472M, against the estimated $462.69M. The company attributes this growth to the strong momentum of ATEC lateral adoption.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:10 pm

INTZ

MNTR

PRKA

RAIN

Insiders have recently bought shares in four penny stocks: Parks! America, Inc. (OTC:PRKA), Rain Oncology Inc. (NASDAQ:RAIN), Intrusion Inc. (NASDAQ:INTZ), and Mentor Capital, Inc. (OTC:MNTR). Parks! America's revenues fell in the recent quarter, Rain Oncology posted a wider-than-expected quarterly loss, Intrusion was awarded a $5 million multi-year shield agreement, and Mentor Capital's stock gained around 38% year-to-date.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 1:07 pm

MRNA

Moderna has stated that it remains comfortable with its projected range of $6B-$8B in anticipated revenues from the sale of its Covid-19 vaccine for the full year 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:01 pm