Streetbeat News

Revenues

AKBA

Akebia Therapeutics has reduced its revenue guidance for its Auryxia product for FY23 from $175M-$180M to $170M-$175M. The revision is due to unfavorable market dynamics, volume, and payor mix.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:17 pm

AMC

AMC Theatres (NYSE:AMC) announced that Taylor Swift's record-breaking concert film, 'The Eras Tour', will be shown in more than 100 countries starting October 13. The film will be available at all AMC locations in the US and every ODEON Cinemas location throughout Europe. AMC is working with movie theatre operators worldwide to expand this footprint. The film has already set a record for the highest ticket-sales revenue during a single day in AMC's 103-year history.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:05 pm

BYRN

Byrna Technologies expects its interim Q3 revenues to be $7.1M, significantly lower than the $12.4M in Q3 FY22 and consensus of $11.41M. The company also anticipates a decrease in gross margins to 45% from 55% in the prior year period.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:04 pm

KULR

KULR Technology Group, Inc (NYSE:KULR) has signed a Memorandum of Understanding (MOU) with Forge Nano, a global player in precision nano-coating technology. The partnership, estimated to generate $3.5 million - $5 million in revenue, will combine KULR's advanced automated battery cell screening capabilities with Forge Nano's Atomic Layer Deposition (ALD) coating process. The partnership will initially focus on assessing Forge Nano's premium battery cells for space and U.S. Department of Defense (DoD) applications.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 12:02 pm

THTX

Theratechnologies has revised its FY23 revenue guidance to a range of $82M-$85M, down from the previous range of $82M-$87M. The new guidance is slightly below the consensus estimate of $83.64M.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:57 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are expected to drop due to demand concerns and EU regulatory scrutiny. The stock slipped 1.17% to $244.10 in premarket data. Weekly China car insurance registrations for Tesla fell short of the Q2 record. Tesla is expected to report lower-than-expected Q3 deliveries next week. EU regulators are investigating Chinese subsidies benefiting Tesla and other domestic EV manufacturers.

Portfolio Pulse from Shanthi Rexaline

September 26, 2023 | 11:46 am

RGEN

Repligen has agreed to acquire Metenova, a company that is projected to generate revenues of $24 million to $25 million for fiscal year 2023. The acquisition is expected to contribute approximately $5 million in revenue to Repligen in the fourth quarter of 2023, and $25 million to $27 million in revenue in 2024, with 20%-25% revenue growth in 2025 forward. The acquisition is anticipated to be accretive to Repligen's adjusted gross and operating margins in 2024, and to be accretive to adjusted earnings per share in 2025.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:37 am

PRSO

Peraso Inc. (NASDAQ:PRSO) has received purchase orders totaling $11.3 million for its memory integrated circuit products. These orders are associated with the end-of-life program for these products, with shipments expected to extend through 2024.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:36 am

BABA

FXI

JD

KWEB

PDD

Alibaba Group Holding Limited (NYSE:BABA) plans to spin off Cainiao Smart Logistics Network Limited with a separate listing on the Hong Kong Stock Exchange, while retaining majority shareholding. This comes amid concerns over China's property sector, affecting Alibaba's stock and broader indexes like iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB). The global e-commerce sector is shifting towards discount retailing due to China's economic issues and inflation in the U.S. and Europe. Despite growth reported by Alibaba and JD.com Inc (NASDAQ:JD), PDD Holdings Inc (NASDAQ:PDD) reported a 66% YoY revenue increase, outperforming both.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 11:28 am

MITQ

Moving Image Technologies (MITQ) has announced that it is cautiously approaching its 2024 guidance by targeting low double-digit revenue growth from its legacy businesses. The company also plans to move towards break-even on a non-GAAP basis.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:13 am