Streetbeat News

Revenues

VZ

Verizon Communications Inc. (NYSE:VZ) shares are trading lower by 2.2% to $30.76, likely due to a market-wide drop in stocks following the release of September's Consumer Price Index (CPI) data. The CPI data revealed a year-on-year increase of 3.7%, surpassing expectations. This could lead to concerns about inflation, potentially affecting consumer spending on services offered by Verizon. Higher interest rates could also increase Verizon's debt interest, impacting its profitability and stock price.

Portfolio Pulse from Henry Khederian

October 12, 2023 | 7:03 pm

PLUG

Plug Power Inc's shares are trading lower after the company's annual green hydrogen conference. The company provided a long-term revenue outlook, expecting $6 billion in revenue in 2027 and $20 billion in 2030. Susquehanna analyst Biju Perincheril maintained a Positive rating for Plug but lowered the price target from $14 to $13. The Biden administration is expected to award $7 billion in federal grants for clean hydrogen fuel production.

Portfolio Pulse from Adam Eckert

October 12, 2023 | 7:00 pm

DIS

NFLX

Negotiations between SAG-AFTRA actors' union and Hollywood studios, including The Walt Disney Company and Netflix Inc, have failed over issues such as streaming revenue and the use of AI. This has halted production for three months. Disney has also increased its streaming prices for the second time this year due to profitability challenges and loss of subscribers. Disney is also facing a slowdown in its parks business, a broken linear TV business model, and a weak box office. Netflix, despite being the leader in streaming, will also have to deal with increased costs due to writers’ and actors’ strikes.

Portfolio Pulse from Upwallstreet

October 12, 2023 | 6:38 pm

COUR

BMO Capital Markets analyst Jeffrey M. Silber initiated coverage on Coursera Inc (NYSE:COUR) with an Outperform rating and a price target of $24. The analyst expects Coursera's strong revenue growth to continue and believes the company can become profitable over time due to the scalable nature of its learning platform. The analyst estimates revenue of $713 million and EPS of $0.06 in FY24.

Portfolio Pulse from Lekha Gupta

October 12, 2023 | 5:56 pm

OPRX

OptimizeRx Corp (OPRX) has agreed to acquire Medicx Health for $95 million, a deal expected to close in Q4 2023. The acquisition is expected to expand OptimizeRx's footprint in life science commercial digital budgets and contribute significantly to revenue, revenue growth, EBITDA, and EPS. Post-acquisition, OptimizeRx will have approximately $12.5 million in cash and short-term equivalents. The combined company will establish relationships with approximately 300 pharmaceutical brands.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 5:42 pm

AAPL

AMZN

Amazon.com, Inc's stock is trading higher following positive reports. Amazon Prime members saved over $1 billion during Prime Big Deal Days, with millions of Alexa-enabled devices sold. Apple Inc's AirPods Pro were among the best-selling deals. Truist Securities analyst Youssef Squali noted Amazon's expansion into logistics services could unlock over $100 billion in revenue. AMZN shares traded higher by 1.62% at $133.88.

Portfolio Pulse from Anusuya Lahiri

October 12, 2023 | 4:52 pm

MO

SPY

The FDA has reportedly rejected the Vuse Alto Menthol-Flavored E-cigarettes. The product is a part of the portfolio of Altria Group Inc (MO) and its rejection could impact the company's revenues.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:41 pm

MSFT

SPY

OpenAI, the maker of ChatGPT, is generating revenue at a pace of $1.3 billion a year, up 30% from this summer, according to CEO Sam Altman. The revenue is largely from subscriptions to its conversational chatbot, representing significant growth since the company launched a paid version of ChatGPT in February. Microsoft-backed OpenAI's revenue was just $28 million last year.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:13 pm

DAL

Delta Airlines' President has announced that the company expects its domestic capacity to be flat or slightly down year-over-year in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 2:20 pm