Streetbeat News

Revenues

MCD

McDonald's Corporation is planning to increase its royalty fees from 4% to 5% for new franchisees starting January 1, 2024. This is the first such increase in nearly 30 years. The change will not affect current franchisees who maintain or expand their existing footprint or those purchasing an existing franchised location. The increased rate will apply to new franchisees, purchasers of company-owned restaurants, and relocated eateries.

Portfolio Pulse from Akanksha Bakshi

September 22, 2023 | 1:51 pm

AAPL

Apple Inc. has launched its latest iPhone 15 series, with significant design changes and enhancements. The new series has sparked questions about its potential impact on holiday sales. While orders for the highest-end iPhone 15 models are backlogged until mid-November, other newly launched products received a more subdued response. Apple is optimistic about the new series reversing a trend of declining sales, especially with the iPhone 15 Pro featuring a significant design shift. Wall Street estimates for Apple's fourth-quarter revenue stand at $89.3 billion, with $43.6 billion projected to come from the iPhone.

Portfolio Pulse from Ananya Gairola

September 22, 2023 | 12:46 pm

NTWK

NETSOL Technologies has projected its FY24 revenue to be between $61M-$63M, indicating a YoY growth of 16%-20%. The company's markets in the Asia-Pacific region and Europe remain strong, and it has several potential licensing deals in the pipeline. Despite not being satisfied with current results, NETSOL is confident in its strategy for long-term, sustainable growth.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:37 pm

MCD

McDonald's is set to increase its franchise royalty fees for new U.S. restaurants from 4% to 5%, the first hike in nearly 30 years. The change, effective from Jan. 1, will not affect existing franchisees maintaining their current footprint or buying a franchised location from another operator. However, new franchisees, buyers of company-owned restaurants, and relocated restaurants will be affected. The move may face backlash due to McDonald's strained relationship with its U.S. franchisees.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:36 pm

OP

OceanPal has announced a time charter contract for m/v Salt Lake City with Five Ocean Corporation. The gross charter rate is $14.5K per day with a 5% commission for third parties for a period of 120 to 180 days. The contract is expected to generate approximately $1.52 million in gross revenue for the minimum scheduled period.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:27 pm

PEB

Pebblebrook Hotel Trust reported a reduction in hotel revenues by $3.5M and a $2.5M impact on Hotel EBITDA due to weather-related cancellations from Tropical Storm Hilary and Hurricane Idalia from late August through early September.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 11:12 am

AMZN

Amazon.com has announced that starting in early 2024, Prime Video shows and movies will include limited advertisements. However, an ad-free option will be available for an additional $2.99 per month in the U.S.

Portfolio Pulse from Charles Gross

September 22, 2023 | 10:02 am

EWU

UK retail sales for August were reported lower than expected. Year-on-year sales were down 1.4% against an estimated 1.2% drop, and month-on-month sales increased by 0.4%, lower than the 0.5% estimate.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:01 am

EWU

UK's core retail sales for August have been reported. Month-on-month, the sales were 0.6%, matching the estimate but showing an improvement from the prior -1.4%. Year-on-year, the sales were -1.4%, slightly worse than the -1.3% estimate and an improvement from the revised prior of -3.3%.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 6:01 am

SCBFY

Standard Chartered's innovation arm, SC Ventures, has launched a digital banking technology solutions provider, Audax Financial Technology. The Singapore-based company aims to assist banks in their digital transformation by creating new business models and seeking new revenue avenues. Audax will continue to serve Standard Chartered by powering its Banking-as-a-Service (BaaS) proposition, SC nexus. The B2B2X market, which Audax is part of, is expected to reach $440 billion in annual revenues by 2030.

Portfolio Pulse from Khyathi Dalal

September 21, 2023 | 10:45 pm