Streetbeat News

Revenues

PINS

Pinterest has outlined its financial projections for the next 3-5 years, expecting a mid-high teen revenue compound annual growth rate (CAGR) and low 30s adjusted EBITDA margins.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:00 pm

NSTG

Nanostring has reiterated its guidance for fiscal year 2023 total revenue of between $175M-$185M.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:57 pm

RVNC

Revance Therapeutics Inc (NASDAQ:RVNC) plans to exit the OPUL payments business due to significant costs and resources required. The exit includes a reduction in OPUL personnel, termination of OPUL R&D activities, and a reduction of outside services expenses. The company expects to record a restructuring charge of up to $7.0 million. Exiting OPUL by the end of Q1 2024 is expected to free up approximately $20 million a year for reinvestment. The company is funded to breakeven and expects to be Adjusted EBITDA positive in 2025.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 3:03 pm

AMZN

GOOG

MSFT

TSM

Several major companies have made headlines. Amazon has hired Microsoft's Chief Product Officer, Panos Panay. Google is under scrutiny for allegedly manipulating ad auctions. Taiwan Semiconductor Manufacturing is planning to boost packaging capacity in Arizona. Microsoft has addressed a security incident involving sensitive information exposure on GitHub. Novo Nordisk has partnered with Aspen Pharmacare to produce insulin in South Africa. BeiGene has regained rights to its cancer drug from Novartis. Rocket Lab's 41st mission faced technical issues. The European Commission has approved ViiV Healthcare's HIV prevention drug. AutoZone's Q4 earnings exceeded estimates. BP has appointed Kate Thomson as interim CFO. MGM Resorts may lose out on casino licenses in NYC due to a scandal. Google and the Department of Defense are developing an AI-powered microscope. Apple faces threats from Huawei in China. Google's Bard AI chatbot is being integrated with Gmail, Google Docs, and YouTube. Starbucks is facing a lawsuit over its 'fruit' drinks.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 2:01 pm

XOM

Exxon Mobil has announced an expansion of its chemical production at its Baytown facility. The move is expected to increase the company's production capacity and potentially boost its revenues.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:35 pm

RVNC

Revance Therapeutics Inc. plans to continue processing payments for current OPUL customers through January 31, 2024. The company expects to record a restructuring charge of up to $7M in connection with these activities, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:13 pm

AMAT

Applied Materials, Inc. (AMAT) shares have dropped by about 4% amid recent volatility in semiconductor and chip stocks. This is due to Taiwan Semiconductor Manufacturing Company (TSMC) reportedly telling its suppliers to postpone the delivery of high-end chipmaking equipment due to demand uncertainty. As a major supplier of such equipment, Applied Materials' revenue and earnings could be directly affected if TSMC delays or postpones orders.

Portfolio Pulse from Henry Khederian

September 19, 2023 | 1:10 pm

GLDD

Great Lakes Dredge & Dock Corporation (GLDD) has announced the receipt of $177 million in awarded work, bringing its dredging backlog to approximately $1.1 billion to date.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:06 pm

SPY

According to Redbook, US retail sales for the first three weeks of September have increased by 4.1% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:57 pm

SPY

According to Redbook, U.S. retail sales have increased by 3.6% for the week ending September 16 compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:56 pm