Streetbeat News

Revenues

QIPT

Quipt has announced a multi-state acquisition that is expected to add approximately $9M in annualized revenues. The company also anticipates an increase of $2M in adjusted EBITDA post integration.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 11:37 am

BOWL

Bowlero Corp. has projected its FY24 revenue to be between $1.14 billion and $1.19 billion, which is in line with the estimated $1.14 billion.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 11:36 am

SJM

TWNK

J.M. Smucker Co (SJM) is reportedly close to acquiring Hostess Brands (TWNK) for approximately $4 billion. Hostess, which has been expanding its product range and reported a revenue of $1.358 billion in 2022, returned to public markets in 2016. SJM, which has been expanding its portfolio through acquisitions, reported a 21% increase in net sales and a 69% increase in operating income.

Portfolio Pulse from Shivani Kumaresan

September 11, 2023 | 10:56 am

VGK

The EU has forecasted that the Eurozone is likely to grow at a slower pace in 2023 and 2024 due to weak domestic consumption and global demand.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 9:30 am

BYDDF

NIO

TSLA

XPEV

China's vehicle sales in August increased by 8.4% YoY, compared to a decrease of 1.4% in the previous month. New energy vehicle sales in China also rose by 27% YoY in August, according to the China Association of Automobile Manufacturers.

Portfolio Pulse from Charles Gross

September 11, 2023 | 9:22 am

ASX

ASE Technology's net revenues for August 2023 have declined by 22.4% YoY to $1.66B, although they have increased sequentially by 5.9%. The company's ATM revenue fell by 18% YoY.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 7:06 am

CGC

CRON

OGI

SNDL

TLRY

US legal cannabis sales are predicted to exceed $28 billion in 2023, prompting Canadian cannabis producers to consider focusing on exporting or partnering with US companies. Some Canadian companies, such as Canopy Growth and Sundial Growers, have already made strides in the US market. Canopy Growth has outperformed other producers since the news of cannabis rescheduling. Canadian cannabis exports reached C$160 million in FY23, a 50% increase from the previous fiscal year.

Portfolio Pulse from Nicolás Jose Rodriguez

September 10, 2023 | 4:48 pm

LCAA

Lotus Technology Inc., a global luxury electric vehicle maker, announced that its subsidiary, Lotus Robotics, has been selected to license its intelligent driving technology and software to several leading automakers. This move is expected to boost Lotus Tech's technology-related revenues as part of its Vision80 business transformation strategy.

Portfolio Pulse from Charles Gross

September 10, 2023 | 3:11 pm

AAPL

Apple Inc. (NASDAQ:AAPL) could potentially mitigate the impact of China's decision to ban iPhones from government offices and related companies, according to Gene Munster of Deepwater Asset Management. Munster estimates that the ban could reduce Apple's overall revenue by about 1% in 2024. However, he believes that Apple's brand loyalty in China will remain unaffected and that India could become a significant part of Apple's growth strategy. Currently, India accounts for about 3% of Apple's sales, but this could increase to match China's contribution of 20% over the next seven years.

Portfolio Pulse from Shanthi Rexaline

September 09, 2023 | 10:30 pm

UBER

Uber Technologies, Inc. (NYSE:UBER) is reportedly developing a service similar to TaskRabbit, Inc. to help app users hire individuals for various tasks. The potential new feature, 'Chore,' was discovered within Uber's iPhone application by developer Steve Moser. The feature is still in the initial development phase and is not currently being tested. The move into the tasking domain could provide a significant growth avenue for Uber, which recently posted a 14% YoY growth to $9.23 billion in Q2, slightly missing the Street view.

Portfolio Pulse from Nabaparna Bhattacharya

September 09, 2023 | 9:58 pm