Streetbeat News

Revenues

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

SATL

Satellogic has announced that it expects cumulative headcount reductions to result in $7.5M of annual savings starting from Q4 2023. The company has reduced its workforce by 110 employees.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 9:04 pm

SATL

Satellogic has implemented cost and spending control measures in 2023 due to slower than anticipated revenue growth.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 9:01 pm

SATL

Satellogic has reduced its FY23 revenue forecast from $30M-$50M to $10M-$20M. The company also announced that it does not expect to launch any additional satellites until Q1 of 2024.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:58 pm

BWA

BorgWarner (BWA) has warned that its sales could be significantly impacted if the United Auto Workers (UAW) strikes continue for several weeks or expand to affect other customer plants, including engine and transmission plants.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:47 pm

ZYME

Zymeworks' unit, Beigene, has entered into the 3rd amendment to its license and collaboration deal on September 18, 2023. The unit is now eligible to receive tiered royalties ranging from high single-digit percentages up to 19.5% on net sales.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:42 pm

VFS

VinFast has reported its unaudited financial results for Q2 2023. The company's quarterly revenues reached $334.1M, a 131.2% increase from Q2 2022 and a 303.3% increase from Q1 2023. Vehicle sales were $314.6M, up 147.0% from Q2 2022 and 387.3% from Q1 2023. The company delivered 9,535 EVs, a 436% increase from Q1 2023. However, the company reported a net loss of $526.7M, though this is an improvement from previous quarters.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 7:37 pm

MSFT

The US Army has awarded Microsoft a $95 million contract for the next stage of the Integrated Visual Augmentation System (IVAS) program. The technology, based on Microsoft's HoloLens 2 device, is a high-priority modernization initiative for the Army. The new variant, IVAS 1.2, has received positive feedback from initial testing. The contract includes the development and delivery of 280 pre-production IVAS 1.2 systems and 11 soldier immersive virtual trainers. The program could be worth up to $21.9 billion if fully realized.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 7:36 pm

KBH

US home sales volume decreased by 0.7% in August, marking a 15.3% drop from the previous year, while the median existing-home sales price increased by 3.9% to $407,100. The Midwest was the only region to see an improvement in sales. The inventory of unsold existing homes dipped 0.9% to 1.1 million. In this market, KB Home (NYSE:KBH) reported a third-quarter sales decline of 13.9% year-over-year to $1.59 billion, but beat the analyst consensus estimate.

Portfolio Pulse from AJ Fabino

September 21, 2023 | 6:57 pm

CELH

Roth MKM analyst Sean McGowan reiterated a Buy rating on Celsius Holdings, Inc. (NASDAQ:CELH), raising the price target to $220 from $180. Despite a recent drop in share price, McGowan sees no fundamental reason for the pullback. He notes that retail sales of Celsius's products have remained strong, growing more than 160% YoY. The analyst expects international sales to be the next big growth driver for the company, predicting more than 10% of total revenue in 2025 from outside the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 6:55 pm