Streetbeat News

Revenues

RDFN

Redfin Corporation reported a 15.7% year-on-year slump in pending home sales in July due to decreased homebuyer demand. Despite the sluggish demand, housing prices have remained high. The total number of homes for sale dropped 19.5% from a year earlier. The average 30-year-fixed mortgage rate was 6.84% in July, up from 6.71% a month earlier. Redfin shares are trading higher by 0.11% to $8.79.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 4:15 pm

NWVCF

EnWave Corporation reported its Q3 2023 financial results, revealing a 7% YoY decrease in revenue to $1.84 million. Operating expenses were down by 32% YoY, and the loss for the period decreased from the previous year. The company also reported a 14% YoY improvement in adjusted EBITDA, despite a decrease in gross margin. For the nine months ended Q3 2023, revenue was up compared to the same period in fiscal 2022.

Portfolio Pulse from Jelena Martinovic

August 25, 2023 | 2:06 pm

HPP

Hudson Pacific Properties (HPP) has raised $72M through the sale of two Los Angeles office properties. The company expects to recognize a gain of $22M from these dispositions in Q3.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 1:03 pm

PRVA

Privia Health Group, Inc. (NASDAQ:PRVA) announced that its Accountable Care Organizations (ACOs) achieved shared savings of $131.7 million through the Medicare Shared Savings Program (MSSP) in 2022. The seven ACOs, collectively known as Privia Quality Network, included more than 2,100 providers delivering care to over 163,000 Medicare beneficiaries. The company's performance highlights include lower annual average expenditures and emergency room utilization compared to the median MSSP ACO and total fee-for-service Medicare.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 12:35 pm

AKBA

Akebia Therapeutics has confirmed its 2023 net product revenue guidance for Auryxia, expecting it to be between $175M-$180M.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 12:13 pm

AMTX

Aemetis, Inc. (AMTX) has announced the sale of 88,883 D3 Renewable Identification Number (RIN) credits. The sale of these credits is part of the company's strategy to generate revenue from its renewable fuel production.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 12:02 pm

WDAY

Workday Inc (NASDAQ:WDAY) reported Q2 FY24 revenue growth of 16.3% Y/Y to $1.79 billion, beating the consensus of $1.77 billion. Subscription revenues grew 18.8% Y/Y to $1.62 billion. Adjusted operating income rose to $421.4 million from $301.6 million a year ago. The company raised its FY24 subscription revenue guidance and expects Q3 subscription revenue of $1.678 billion to $1.680 billion (+17% Y/Y).

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 10:42 am

ERIC

INTC

Ericsson (ERIC) has renewed a global cross-licensing deal with Huawei, covering patents for 3G, 4G, and 5G cellular technologies. The agreement will cover the companies' sales of network infrastructure and consumer devices. Ericsson expects 2023 IPR licensing revenues to be about SEK 11 billion. The company also plans to boost its IPR revenues through such agreements and expansion into additional licensing areas. Last month, Ericsson partnered with Intel Corp (INTC) for its future 5G infrastructure.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 9:38 am

EWG

VGK

Germany's Q2 Gross Domestic Product (GDP) remained flat quarter-on-quarter, in line with estimates, but down from -0.1% in the previous quarter. Year-on-year, the GDP contracted by -0.6%, worse than the -0.2% estimate and prior figure.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:00 am

HTHT

H World has raised its revenue growth expectations for Q3 2023 to 43%-47% YoY, up from the previous guidance. The company also increased its full-year 2023 revenue growth forecast to 48%-52% YoY, up from the previous 42%-46%. The growth rates excluding DH are even higher.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:12 am