Streetbeat News

Revenues

ODD

Truist Securities analyst Youssef Squali upgraded the rating on ODDITY Tech Ltd (NASDAQ:ODD) to Buy from Hold and maintained a price target of $54. The upgrade is based on the company's positive pre-announced Q3 FY23 results and raised outlook for net revenue growth and gross margin. The analyst expects the company to witness revenue growth of 49.7% y/y in FY23.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 6:28 pm

META

MSFT

TWTR

Elon Musk's decision to rename Twitter as X Corp has led to a lawsuit filed by X Social Media LLC for trademark infringement. The lawsuit alleges that X Corp was aware of X Social Media's trademarks and that the rebranding has caused confusion and revenue loss for X Social Media. The plaintiff is seeking three times the amount of damages since the name change or three times X Corp's profits over the same period, whichever is greater. This is the first high-profile case involving the rebranding to X, and it could be the first of many.

Portfolio Pulse from Chris Katje

October 03, 2023 | 4:56 pm

AMZN

According to the Wall Street Journal, Amazon used a secret algorithm, known as 'Project Nessie', to raise prices. This strategy reportedly generated over $1B in revenue for the company.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:46 pm

MSG

SPHR

The MSG Sphere, a part of Sphere Entertainment Co (NYSE:SPHR) and Madison Square Garden Entertainment Corp (MSG), recently debuted in Las Vegas. The venue, which cost $2.3B to build, charges $450k for one day of advertising. It would need to run ads for approximately 5,111 consecutive days, or roughly 14 years, to recover its construction cost solely through advertising revenue. SPHR's stock saw an increase of 12.04% at $41.64, while MSG's stock dipped slightly by 0.60% at $175.23.

Portfolio Pulse from Sudhanshu Singh

October 03, 2023 | 4:33 pm

TM

Toyota Motor North America has reported its U.S. sales for September 2023, with a total of 203,904 vehicles sold. This represents a 13.9% increase on a volume basis.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 3:31 pm

DISCA

Discovery+ has announced a price increase for its ad-free monthly subscription in the U.S. from $6.99 to $8.99, effective October 3. The ad-lite subscription price remains unchanged at $4.99/month. Existing subscribers will see the increase on their next billing cycle on or after November 2.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 3:22 pm

FUJHF

FUJHY

Subaru of America reported a 23.4% increase in U.S. sales for September 2023, with 56,335 vehicles sold compared to the same period in 2022.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 3:17 pm

DNUT

Krispy Kreme Inc (NASDAQ:DNUT) is considering selling its Insomnia Cookies business as part of a strategic move to focus on its core doughnut business. Insomnia Cookies has tripled its revenue since 2017 and is expected to generate about $230 million in FY23. Krispy Kreme's Q2 FY23 sales grew by 9% YoY to $408.88 million, slightly below the analyst consensus.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 2:55 pm

DIS

Disney is considering launching a new live-sports tier of Disney+ overseas, according to the Wall Street Journal. This move could potentially increase the company's subscriber base and revenues.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 1:55 pm

ENVX

Enovix Corp (NASDAQ:ENVX) shares are trading lower after the company announced a strategic realignment of its Fab1 facility and a shortfall in its Q3 production. The company will transition its Fab1 facility from a manufacturing plant to a 'center for innovation' and cut its workforce by about 185 people. This restructuring is expected to result in annualized savings of around $22 million but caused a shortfall in production guidance. Enovix anticipates total restructuring charges of approximately $2.5 million primarily in Q3 and accelerated depreciation expenses of around $36 million for equipment between Q4 2021 and Q1 2024.

Portfolio Pulse from Adam Eckert

October 03, 2023 | 12:45 pm