Streetbeat News

Revenues

ASPS

Altisource reported a total revenue of $12 million for July 2023, with service revenue accounting for $11.1 million. The company also reported a net loss of $4.1 million and an adjusted EBITDA of $0.1 million.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:02 pm

KRMD

B. Riley has initiated coverage of KORU Medical Systems Inc (NASDAQ:KRMD) with a Buy rating and a price target of $4.50. The company's Freedom Infusion System, which allows patients to self-administer subcutaneous immunoglobulin (SCIg) therapy, is expected to drive a 20% compound annual growth rate in its top-line revenue through 2026. The system is poised to tap into a market opportunity exceeding $2 billion.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 6:27 pm

SPR

Spirit Aerosystems' CEO announced at the Jefferies Industrial Conference that the company is aiming to maintain its cash burn at a range of $200M-$250M, following the receipt of $150M in cash advances from customers.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 6:21 pm

TSM

Shares of Taiwan Semiconductor Mfg. Co. Ltd. (NASDAQ:TSM) have fallen by approximately 2.9% due to concerns over rate hikes and China's crackdown on iPhones. TSMC, a key supplier for Apple, could face revenue impacts if the ban on iPhones in critical Chinese government sectors affects Apple's sales and product demand in China.

Portfolio Pulse from Henry Khederian

September 07, 2023 | 6:19 pm

UBER

Uber CEO announced at the Goldman Sachs Conference that about 13% of Uber Eats users have ordered groceries, marking a year-over-year increase of about 300 basis points.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 6:16 pm

MGA

Magna International Inc (NYSE:MGA) has revised its FY25 revenue outlook following the acquisition of Veoneer Active Safety. The company raised its revenue guidance to $46.7 billion - $49.2 billion, up from the previous $44.7 billion - $47.2 billion. The Power & Vision outlook has also been increased to $16.8 billion - $17.4 billion. However, the company's sales outlook for other sectors and its adjusted EBIT margin outlook for FY25 remain unchanged. MGA shares are currently trading lower by 2.45% at $58.06.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 3:22 pm

FMC

Blue Orca Capital has issued a short report on FMC Corporation, highlighting undisclosed legal setbacks and the impact of generic competition on its revenues. FMC's revenues have already been hit by a global oversupply of inventory, and a 30% Y/Y decline was reported recently. The report suggests that FMC misled investors about the potential for generic competition for its flagship diamides. Legal rulings have allowed generic alternatives to enter key markets in India and China, with Brazil likely to follow. These generics are often sold at significantly lower prices, threatening FMC's market share.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 3:18 pm

BA

Boeing's CFO has stated that the company will meet its delivery target of 400-450 737s in 2023, but it will be on the lower end of that range. In August, the company delivered 22 737s and expects to deliver about 70 737s in Q3.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:39 pm

DTSS

Datasea Inc. (NASDAQ:DTSS) has signed agreements with two new clients, Hainuo Xintong and Shenzhen Qiake Technology, to expand its 5G messaging service. The agreements allow the clients to purchase 5G message virtual recharge cards over the next 12 months. Since the agreements were signed, Datasea's Chinese operating entity and its subsidiaries have provided 5G messaging top-up services valued at approximately $1.89 million. In addition, ongoing services to pre-existing clients have generated approximately $1.06 million in revenue for August alone.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:31 pm

XELA

Exela Technologies (NASDAQ: XELA, XELAP) has signed a new customer for its Marketing Execution solution (XME). The customer, a large regional healthcare provider, was previously using multiple vendors leading to inefficiencies and escalating costs. Exela's XME solution will provide real-time reporting, inventory management, and print-on-demand, reducing costs and eliminating obsolete materials. The contract is estimated at $7.5 million and will be included in the ITPS segment which generated $765 million of revenue in 2022.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:22 pm