Streetbeat News

Revenues

WMS

Oppenheimer analyst Bryan F. Blair has reiterated an Outperform rating on Advanced Drainage Systems, Inc. (NYSE:WMS), raising the price target to $148 from $140. Blair highlighted the company's expanding partnerships and relationships with top homebuilders, broadening economic moats, and substantial earnings potential. The analyst expects revenues of $2.8 billion and an adjusted EPS of $5.72 for FY24, and revenues of $3 billion and an adjusted EPS of $6.30 for FY25.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 7:03 pm

GM

HYMTF

QCOM

VLVOF

Qualcomm Inc is expanding its automotive chip business using generative artificial intelligence (AI). The company is selling its Snapdragon Digital Chassis to automakers including General Motors Co, Hyundai Motor Co, Ltd, and Volvo Car AB. Qualcomm's revenue from automotive sales is relatively small, but it projects substantial growth, with an estimated sales target of over $9 billion by 2031. The company is also working on creating a smart user guide and leveraging AI for driver monitoring.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 6:46 pm

UPS

United Parcel Service Inc. (NYSE:UPS) is offering voluntary separation benefits to eligible pilots in an effort to reduce its workforce amid declining package volume. The company aims to entice 167 senior pilots to retire early. This is the first time since 2010 that UPS has sought to trim its pilot workforce. The company handled 9.4% fewer packages in Q2 2022 compared to the same period in 2021, with a more pronounced decline of 12% in domestic packages traveling via plane.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 6:46 pm

V

Wedbush analyst Moshe Katri reiterated Visa Inc (NYSE: V) with an Outperform and a $270 price target. Visa's U.S. Payments volume data suggests slight growth improvements month-to-month, with quarter-to-date in-line performance with the June quarter. Visa announced volume and transaction data for July and August 1-28, 2023, showing a 7% YOY growth in U.S. payments volume. Visa's shares traded higher by 0.13% at $246.54 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 5:29 pm

FXI

China's Industrial Bank has announced a cut in its 1-year deposit rate by 10 basis points to 1.75% and a 20 basis point cut in its 2-year deposit rate to 2%. Additionally, China's top 100 developers have seen a 34% YoY decrease in sales in August.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:54 pm

CRYM

CryoMass Technologies Inc. (OTCQB:CRYM) has entered into a licensing agreement with RubberRock Inc., a California-based cannabinoid ingredient producer. The deal includes a territory licensing fee and ongoing royalties for CryoMass, including 25% of gross revenue from cannabinoid extracts, ingredients, or formulations using CryoSift. The minimum quarterly royalties start at $100,000 and will reach $750,000 by Q4 2024, guaranteeing CryoMass at least $3 million in annual royalties. The partnership aims to enhance scale and cost efficiency in cannabinoid production.

Portfolio Pulse from Jelena Martinovic

August 31, 2023 | 2:49 pm

DG

Dollar General's executive has stated that the company expects continued pressure on sales throughout the year, particularly in discretionary sales and shrink. This indicates a potential decrease in revenue for the company.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:15 pm

DG

Dollar General's executive reported that targeted price reductions on key items have led to an increase in customer response in terms of basket size and composition. However, same-store sales have declined in June, July, and continued into August with negative comp sales through the first half of the month.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:15 pm

CRLBF

GTBIF

VRNOF

Governors JB Pritzker of Illinois and Albert Bryan Jr. of the U.S. Virgin Islands, known for their significant contributions to shaping cannabis policy, will speak at the Benzinga Cannabis Capital Conference in Chicago. Pritzker's tenure has seen the legalization of adult-use cannabis in Illinois, with key players like Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries contributing to job creation and community revitalization. Bryan Jr. has championed cannabis legalization as a strategy to address post-pandemic financial challenges in the U.S. Virgin Islands.

Portfolio Pulse from Nicolás Jose Rodriguez

August 31, 2023 | 1:04 pm

WKSP

Worksport Ltd. (NASDAQ: WKSP) has announced a comprehensive sales strategy, including partnerships with four sales partners, to boost its market growth. The company has recently secured a $1.6 million order for its premium hard-folding covers and is expanding its operational capabilities. Worksport is also focusing on increasing its brand prominence on B2C platforms like Amazon, Walmart, eBay, and its own e-commerce site. The company is also advancing its efforts to introduce the SOLIS solar cover and the COR battery system to the market.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 12:04 pm