Streetbeat News

Revenues

YQ

17 Education & Technology (NASDAQ:YQ) reported a 52.33% decrease in sales this quarter, with sales of $9.50 million compared to $19.93 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 9:07 pm

GOOG

MAR

PCG

TSLA

Z

Google plans to sell new mapping APIs to companies building products around renewable energy, with the aim of generating up to $100 million in its first year. Potential customers include Zillow, Marriott, Tesla, PG&E, SunRun, and Aurora Solar. The data will come from Project Sunroof, a solar savings calculator launched in 2015. Google also plans to launch an Air Quality API. This move is part of Google's strategy to monetize its maps products and tap into the sustainability market.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 8:35 pm

IBP

Installed Building Products (IBP) has announced the acquisition of Interior 2000 Products, LLC. The acquisition is expected to add approximately $6 million of annual revenue to IBP. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 8:09 pm

PGY

JMP Securities analyst David M. Scharf initiated coverage on Pagaya Technologies Ltd. (NASDAQ:PGY) with a Market Outperform rating and a price target of $2.75. Scharf believes that the company's funding model and credit analytics have addressed funding disruptions and expects the company to benefit from expansion into new markets. He also expects robust revenue and EBITDA growth for the company in the coming years.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 7:10 pm

AMZN

Amazon plans to expand its interactive ad offerings in Fall 2023, according to Bloomberg. This move could potentially increase the company's advertising revenue.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 6:51 pm

COST

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman forecasts a total comparable sales of 2.4% versus 10.1% last year and a digital sales increase of 5.0% versus 3.9% last year. He expects Costco to continue generating high-single-digit to low-double-digit EPS growth in FY23 and FY24.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 6:14 pm

NMG

US luxury retailer Neiman Marcus is reportedly considering a sale to rival Saks Fifth Avenue due to weak demand. The company, which also owns Bergdorf Goodman, is expected to be acquired for $2 billion, below the $5.1 billion it fetched in 2005. Minor stakeholders Davidson Kempner Capital Management and Sixth Street Partners are pushing for the sale, while major investor PIMCO initially argued for improvement over time but has now agreed to a possible sale. The company's EBITDA in the June quarter decreased 25% Y/Y with a 9% drop in revenue.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 5:43 pm

MSFT

OpenAI has launched a corporate version of its AI-powered chatbot, ChatGPT Enterprise, with added features and privacy safeguards. This is the startup's most significant effort to attract business customers and boost revenue. The new tool includes unlimited use of OpenAI’s most powerful generative AI model, GPT-4, data encryption, and a guarantee that the startup won’t use data from customers to develop its technology.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 5:24 pm

CSE:MTLC

MTL Cannabis Corp. (CSE:MTLC) reported Q1 2023 financial results, showing a 121% YoY increase in net revenue to $12,763,787 CAD. Gross profits reached $3,274,781 CAD, a rise from the previous year. However, operating income declined to $599,599 CAD. The company also reported net cash inflows from operating activities of $2,140,029 CAD, a significant improvement from a deficit in the same quarter last year.

Portfolio Pulse from Nicolás Jose Rodriguez

August 28, 2023 | 2:48 pm

LLY

The European Medicines Agency (EMA) has reported an increase in demand for Trulicity, leading to supply shortages. These shortages are expected to continue through September 2023.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:47 pm