Streetbeat News

Revenues

BIDU

BIRK

COST

GOOG

GSK

HUM

LVMHF

MGM

MNKTQ

NVO

QABSY

TPST

WBA

Several companies are in the news for various reasons. Alphabet and Discord are facing ethical concerns over Google's AI chatbot, Bard. MGM Resorts snubbed hackers' ransom demands after a cyberattack. Costco is accused of sharing confidential health data with Meta Platforms. Humana has appointed a new CEO. Novo Nordisk has stopped a kidney trial due to early signs of efficacy. Walgreens has appointed a new CEO. GSK has settled a lawsuit. LVMH reported a 9% organic revenue growth in Q3. Qantas Airways is overhauling its board. Tempest Therapeutics' stock soared after positive results from a clinical trial. Tech giants Baidu, Huawei, and Alibaba are setting standards for autonomous driving in China. Blackstone is in talks to acquire a stake in Disney's Indian subsidiary. Mallinckrodt's bankruptcy plan was approved. Birkenstock has priced its IPO.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 1:36 pm

IOT

Samsara Inc. (NYSE:IOT) has announced its growth in the U.S. public sector, with the City of Houston being the latest to digitize its operations using Samsara's Connected Operations Cloud. The company's platform is being used to increase service transparency, sustainability, and safety, and to take data-informed actions. Other customers include the State of New Jersey, City of Fresno, and Hernando County. Samsara's recent fiscal quarter results showed that two of its top-five new customers and two of its top-five expansion deals were within the public sector.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:07 pm

TRNR

Interactive Strength, Inc. d/b/a FORME (NASDAQ:TRNR) has announced a definitive agreement to acquire CLMBR, Inc., a maker of connected vertical climbers. The deal, valued at $16.9M, is expected to close in Q4 2023. The combined business is projected to generate over $20M in revenue in 2024, potentially becoming cashflow positive and adjusted EBITDA profitable by Q4 2024. The business will be primarily driven by B2B revenue, supported by the acquired sales and distribution partnership with WOODWAY. CLMBR shareholders will receive TRNR common equity with a lock-up until October 2024.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:06 pm

VTEX

VTEX, a digital commerce platform, has delivered cost savings of $5.8 million to enterprise merchants that migrated from legacy commerce platforms. The return on investment was 133%. The platform also provided savings in developer and platform support efficiency, ranging from 20% in the first year to 50% in the third year. Additionally, ecommerce business growth yielded an extra $17.1 million.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:05 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) shares are trading higher after the company disclosed new information in a regulatory filing and ahead of its annual symposium. The company expects strong gross margin expansion through 2030 and has made investments to capture the planned hydrogen push. The company also provided a long-term revenue outlook, including expectations for $1.2 billion in revenue this year, $6 billion in 2027 and $20 billion in 2030. Plug Power also signed a memorandum of understanding with Fortescue to evaluate the potential supply of equipment for green hydrogen production projects across North America.

Portfolio Pulse from Adam Eckert

October 11, 2023 | 1:04 pm

UNRV

Unrivaled Brands, Inc. (OTCQB:UNRV) plans to reorganize under a new Delaware holding company, Blum Holdings, Inc. The reorganization will exchange each outstanding share of Unrivaled’s common stock and Series V preferred stock on a one-for-one basis for a share of Blüm. Unrivaled stockholders will also be asked to approve a reverse stock split of the company’s common stock at a ratio determined by the board of directors of Unrivaled in the range between a 1-for-70 to 1-for-100. The reorganization is expected to be completed in Q4 2023.

Portfolio Pulse from Jelena Martinovic

October 11, 2023 | 12:52 pm

SSP

Scripps has completed cable/satellite carriage agreements covering 75% of its pay TV households. For 2023, the company expects $750M in local media division distribution revenue, a nearly 15% growth over 2022, and a 40% increase in net distribution dollars.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 12:36 pm

DIS

Walt Disney Co. has announced a price increase for its Disneyland resort tickets by up to 9% and annual pass prices at Walt Disney World by up to 10%. The new prices are effective immediately.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 11:51 am

NTRB

Nutriband has completed the market assessment and commercialization strategy for Aversa Buprenorphine, an abuse-deterrent Buprenorphine transdermal system. The peak annual US sales for Aversa Buprenorphine is expected to reach $70M-130M.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 11:46 am

NCLH

Norwegian Cruise Line Holdings (NCLH) has reported strong consumer demand and maintains its optimal booked position on a 12-month forward basis.

Portfolio Pulse from Charles Gross

October 11, 2023 | 11:41 am