Streetbeat News

Revenues

VVPR

VivoPower International PLC reported a 33% year-on-year decline in its annual group revenue from continuing operations to $15.1 million. The company's adjusted net after-tax loss narrowed to $14.2 million, and adjusted EPS to $0.58 per share, from a $19.1 million loss and $0.92 per share respectively for FY22.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:05 pm

MHUA

Meihua International Medical Technologies Co reported its 1H revenues of $48.2M, marking a decrease of 12.1% YoY.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 8:31 pm

ODD

Oddity Tech Ltd. (NASDAQ:ODD) has announced preliminary unaudited financial results for Q3 2023, expecting to report record results and beat revenue guidance. The company anticipates a YoY net revenue growth for Q3 between 29-31%, exceeding initial guidance of 18-23%. The strong financial results are attributed to the company's platform, which is transforming the global beauty and wellness market. The company's brands, IL MAKIAGE and SpoiledChild, continue to deliver high growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 8:08 pm

COST

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman expects Costco's traffic to increase by 5.5% and digital sales to remain flat. He also anticipates Food & Sundries and Fresh Foods to outperform due to healthy at-home consumption trends. Despite uncertainties, Feldman believes Costco will continue to gain share with solid sales and high membership renewal rates. He forecasts a total comp of 3.8% versus 8.5% last year.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 6:34 pm

SPOT

Truist analyst Matthew Thornton has reiterated a Buy rating on Spotify Technology S.A. (NYSE:SPOT) with a price target of $176. The rating is based on the continued momentum of mobile app downloads and focus on margins/monetization. Thornton projects Q3 revenue of €3.34 billion vs. consensus of €3.32 billion, and Q4 revenue of €3.65 billion vs. consensus of €3.69 billion. SPOT shares traded higher by 1.96% at $156.57 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:22 pm

META

Truist Securities analyst Youssef Squali reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $390. Squali expects strong growth recovery for META in 3Q23, with revenues up 21% Y/Y. He raised estimates for Reality Labs' revenue for 4Q23 to $981 million and for FY24 to $2.16 billion. Squali expects Q3 revenue of $33.49 billion, Q4 revenue of $39.07 billion, and FY23 revenue of $133.20 billion. META shares traded higher by 1.25% at $303.97.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:05 pm

LVS

MGM

MLCO

PENN

WYNN

Nevada's gambling revenue in August remained steady year-on-year at $1.21bn, despite a 14.3% decline from July's $1.4bn. Slot machines accounted for $829.2m of the total revenue, a 2.1% decrease from last year. Revenue from table, counter, and card games increased by 5.2% to $380.1m. Sports betting revenue rose by 12.4% to $18.1m. The Las Vegas Strip generated $666.8m in revenue, nearly half of the state's total.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:42 pm

ENLT

Enlight Renewable Energy (NASDAQ:ENLT) has secured a 15-year power purchase agreement for its Pupin wind farm in Serbia. The state-owned utility Elektroprivreda Srbije will purchase 72% of the project's output at a price of EUR 69 per MWh. The Pupin project, with a total generation capacity of 94 megawatts, will cost USD$149-157 million and is expected to generate revenues of USD$22-24 million and EBITDA of USD$13-15 million in its first full year of operation. Enlight is set to acquire a 66% stake in the project, subject to regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:05 pm

MTEK

Maris-Tech, a provider of video-based edge computing solutions, expects revenues of $3.7 to $4.2 million in 2023, an increase of 48% to 68% compared to 2022. The company has launched several new products, including the Jupiter-AI and Uranus-AI video platforms with AI acceleration, and has entered into strategic cooperation agreements with international companies. Maris-Tech's products have been sold in various global markets, and the company is now focusing its marketing efforts on the defense, HLS, civilian, safe cities, and new space markets.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:48 pm

SGHC

Super Group (SGHC) has announced its exit from the Indian market due to changes in the Indian Goods and Services Tax, which have made the market no longer commercially viable for the company. Despite this, SGHC reaffirms its full year financial projections for 2023.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:41 pm