Streetbeat News

Revenues

DIS

Disney is planning to reduce its target for Disney+ streaming subscribers, according to Bloomberg. This could potentially impact the company's future revenue and growth projections.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:05 pm

HITI

High Tide Inc. reported its Q3 revenue of C$124.4 million, marking a 30% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:04 pm

ACTG

Acacia Research Corporation has been awarded $37.4 million in a patent lawsuit against TP-Link Technologies. The verdict could potentially boost Acacia's revenues and strengthen its financial position.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:35 pm

NFLX

Benchmark analyst Matthew Harrigan reiterated a Sell rating for Netflix Inc (NASDAQ:NFLX) with a $293 price target. The streaming giant's CFO, Spencer Neumann, noted the company's need to maintain a balance between revenue growth and margin improvement. The analyst sees operating margin improving by 2.0% this year, 2.1% in 2024, and 1.8% in 2025. Neumann also suggested only muted 3Q23 and 4Q23 ARM improvements. Netflix is making progress in advertising and remains favorably positioned for scripted programming delivery.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 5:38 pm

GSK

MRNA

SNY

Moderna Inc (MRNA) conducted an R&D Day event outlining its strategic initiatives across four key areas. The company's Phase 3 seasonal influenza vaccine met the non-inferiority threshold required for approval, paving the way for a combination vaccine. Moderna aims for up to 15 product launches across the four verticals over the next five years, targeting annual sales of $10 billion-$15 billion by 2028 in oncology, rare disease, and latent disease sectors. They also anticipate revenues of $8 billion-$15 billion from the respiratory franchise by 2027. Goldman Sachs sees this as a transition beyond a COVID-centric business for Moderna.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 5:23 pm

NFLX

SPOT

Despite the streaming industry crisis, Netflix and Spotify have managed to maintain their leading positions. Netflix's first-mover advantage and overseas expansion have helped it remain a global player, despite a 3% fall in shares and a soft operating margins guidance. Spotify, despite disappointing revenue figures and a loss in its latest quarterly report, has seen growth in its monthly active users and paid subscribers count, showing resistance to the streaming slowdown.

Portfolio Pulse from Upwallstreet

September 14, 2023 | 5:18 pm

CMCSA

DIS

FOX

GOOG

GTN

META

NXST

PARA

SIRI

SPOT

SSP

TGNA

The 2024 election cycle is predicted to hit a new record of $10.2 billion in political ad spending, a 13% increase from the 2020 election. Media companies that sell ad slots, including Paramount Global, Fox Corp, Comcast Corporation, The Walt Disney Company, Gray Television, NexStar Media Group, Tegna Inc, E.W. Scripps Company, Sirius XM Holdings, Spotify Technology, Alphabet Inc's YouTube, and Meta Platforms' Facebook, could benefit from this surge.

Portfolio Pulse from Chris Katje

September 14, 2023 | 3:45 pm

ARM

NVDA

SFTBY

Arm Holdings PLC has issued its initial public offering (IPO) valued at $54.5 billion, making it the largest IPO of 2023. The company, crucial for Nvidia Corp’s GPUs to facilitate AI operations, was acquired by SoftBank Group Corp in 2016. SoftBank chose to retain 90% of the company, releasing 10% of its shares to public investors. Arm's growth in China primarily revolves around data centers and the automotive sector, with 25% of its revenues coming from the country. SoftBank has decreased its exposure to China.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 3:39 pm

WBD

Warner Bros Discovery's upfront ad sales pricing was consistent with prior year levels, according to the CFO at the BOFA conference.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 1:16 pm

UGRO

urban-gro, Inc. has signed multiple contracts with clients in the industrial, aerospace, laboratories, and hospitality sectors. The aggregate value of these contracts is more than $2M.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 12:56 pm