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Revenues

Philip Morris has provided its 2024-2026 compound annual growth outlook, targeting 8%-10% for adjusted operating income on an organic basis. The company also expects its heated tobacco unit shipment volume to reach 180-200 billion units and nicotine pouch shipment volume to reach 800 million-1 billion cans by 2026. It anticipates ZYN to drive double-digit net revenue and adjusted operating income growth for its overall U.S. operations over the 2024-2026 period, including the impact of IQOS investments. The company aims to have over two-thirds of its total net revenues come from smoke-free products by 2030.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 7:45 am

EWA

Australia's retail sales for August have been reported at 0.2%, lower than the estimated 0.3% and the revised prior of 0.5%.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 4:20 am

Estée Lauder Companies (ELC) has announced plans to establish an Atelier in Paris, France, to accelerate its ambitions in luxury and prestige fragrances. The Atelier, set to open by the end of 2024, will support ELC's existing fragrance capabilities and help drive innovation, speed-to-market, and artisanal quality at scale. The company's fragrance business has seen nearly 40% growth in net sales since pre-pandemic fiscal year 2019 and has delivered 10 consecutive quarters of at least double-digit organic net sales growth through fiscal year-end 2023.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:38 pm

DTSS

Datasea's FY23 revenue has declined by 59% to $7.045 million.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:36 pm

EQNR

FTI

TechnipFMC has secured a large iEPCI contract from Equinor for the Rosebank Project, west of the Shetland Isles in the UK. The contract is valued between $500 million and $1 billion and was included in inbound orders in the first quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:22 pm

FUL

H.B. Fuller has revised its fiscal 2023 outlook, expecting net revenue to be between $3.50 billion and $3.55 billion, down 4.5% to 5.5% from fiscal 2022 due to lower volume expectations. Adjusted EBITDA is expected to be between $580 million and $590 million, reflecting higher margins and contributions from acquisitions. Adjusted EPS is expected to be between $3.80 and $3.90, down 2.5% to 5.0% YoY. The company also expects to generate between $40 and $45 million in annual pre-tax run-rate cost savings from restructuring.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:08 pm

COST

Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on Costco Wholesale Corporation (NASDAQ: COST) and raised the price target from $535 to $585. Costco's Q4 revenues beat the consensus estimate, and the company is executing well with positive same-store sales and overall top-line growth. Membership trends remain healthy and productive club growth is continuing. The analyst expects continued compounding on top-line and EBIT in the mid-single-digit range.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 7:16 pm

MRMD

MSOS

MariMed CEO Jon Levine spoke at the Benzinga Cannabis Capital Conference, stating that it's not a good time to borrow money at high interest rates unless it's prudent to create cash flow quicker. He emphasized the company's focus on building with positive cash flow and earnings.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 4:58 pm

MCD

McDonald's Corp (NYSE:MCD) has announced a 1% increase in franchisee royalty charges, from 4% to 5%, starting next year. This decision is significant as franchisees operate 95% of McDonald's 40,000 global locations and their fees made up 61% of the company's $23 billion revenue last year. Meanwhile, McDonald's stock has seen a 4% decrease this month, breaching a significant support level at $271.

Portfolio Pulse from Zaheer Anwari

September 27, 2023 | 2:08 pm

AAPL

AMZN

BABA

JPM

LLY

MRNA

NVO

PAYX

PFE

QCOM

TGT

TRI

WBD

Alibaba's logistics arm Cainiao files for Hong Kong IPO, potentially boosting Alibaba's stock. Qualcomm's Snapdragon 8 Gen 3, manufactured under TSMC's process, is set to rival Apple's 3nm chip technology. The European Medicines Agency is investigating potential anesthesia complications linked to weight loss drugs like Wegovy by Novo Nordisk and others by Eli Lilly, AstraZeneca, and Sanofi. Target is closing nine stores due to rising retail crime. Paychex reports 7% sales growth in Q1 FY24. Hollywood writers secure credit in a new deal with studios like Warner Bros., Paramount Global, Netflix, and Walt Disney. JPMorgan settles Jeffrey Epstein lawsuit for $75M. Thomson Reuters faces Ross Intelligence in court over AI dispute. Pfizer's oral COVID-19 antiviral pill faces doubts over commercial approval. McKinsey settles opioid lawsuit for $230M. Eli Lilly wins patent infringement case against Teva. Apple defends its $19B Google search deal. Warner Music Group CEO shares vision on AI in music at Code Conference 2023. Amazon addresses return-to-office policy concerns. China's chip fund faces economic challenges. Moderna in talks for enhanced COVID-19 vaccine availability in Europe.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 1:47 pm