Streetbeat News

Revenues

PLXS

Needham analyst James Ricchiuti has reiterated a Buy rating on Plexus Corp (NASDAQ:PLXS), raising the price target to $107 from $105. Despite mixed demand in its Industrial and Healthcare Life Science market verticals, Plexus' strength in commercial aerospace is expected to outweigh these issues. The company's Q4 revenue guidance is flat sequentially and down 9% Y/Y. Ricchiuti has trimmed Q4 GAAP EPS estimate to $1.26 from $1.39, with revenue now forecast at $1.020 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 28, 2023 | 6:21 pm

IMAX

Barrington Research analyst James Goss reiterated an Outperform rating for Imax Corp (NYSE:IMAX) with a $24 price target. Goss highlighted IMAX's strong recovery in box office revenue and expects the company to achieve 2019 levels of total box office. The company's revenues were $98.0 million, above estimates, and EBITDA of $32.8 million was up from the year-ago $25.4 million. IMAX also announced plans to install 84 screens in 2023 and offered to repurchase the remaining public interest in IMAX China.

Portfolio Pulse from Anusuya Lahiri

July 28, 2023 | 4:44 pm

CMRE

Costamare reported better-than-expected Q2 revenue results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 4:09 pm

WETG

WeTrade Group, Inc. (NASDAQ:WETG) shares are trading higher despite a lack of company-specific news. The company reported its fiscal year 2022 financial results last week, with revenue of $11.67 million, a decrease of 18.8% from the previous year. The company's stock is trending on social media sites and has garnered the attention of retail investors.

Portfolio Pulse from Erica Kollmann

July 28, 2023 | 3:59 pm

IWINF

Irwin Naturals Inc. is launching a line of cannabis tinctures in California through a licensing and supply agreement with The Hive Laboratory. The company plans to roll out a variety of CBD and THC products in the coming months. The new products will include a blend of the company's most popular formulas combined with THC and other cannabinoids in the form of capsules. The company's recent financial reports show stagnating Q1 FY23 revenue and a 10.8% decline in FY22 revenue.

Portfolio Pulse from Vuk Zdinjak

July 28, 2023 | 2:16 pm

ARBE

Arbe, a leading provider of next-generation 4D Imaging Radar Solutions, has received a preliminary order of $11.6M for radar chipsets and a $1M order for professional services from Weifu High Technology Group, a leading Chinese Tier 1 supplier. The orders are intended to meet Weifu's sales projections for 2024.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 12:04 pm

BABA

META

TCEHY

Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher amid a positive week that included a collaboration with Meta Platforms Inc (NASDAQ:META) and Ant Group on artificial intelligence, and a focus on its initial public offering. Alibaba also collaborated with Tencent Holdings Ltd (OTC: TCEHY) to promote their flagship brands, focusing on online shopping and esports. However, Alibaba's China commerce business has suffered from weak retail sales nationwide, with revenue falling by 3% year-on-year in the March quarter.

Portfolio Pulse from Anusuya Lahiri

July 28, 2023 | 11:37 am

MCD

A TikTok trend involving McDonald's Grimace dessert shake has led to a 10% increase in McDonald's second-quarter sales in the U.S. and nearly 12% globally. The trend, which involves TikTokers pretending to suffer gruesome fake deaths after sipping the shake, has garnered 2.9 billion views on TikTok. McDonald's CEO, Chris Kempczinski, praised the company's ability to create cultural conversations and develop industry-leading innovations.

Portfolio Pulse from Benzinga Neuro

July 28, 2023 | 10:53 am

CVEO

Civeo Corp has increased its FY23 revenue outlook to a range of $640M-$650M, up from the previous range of $630M-$650M. The new estimate is in line with the market expectation of $648.28M.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 10:34 am

EEMA

EWU

EZU

FLAX

SPY

US markets ended lower on July 26, with Dow Jones breaking its 13-session winning streak. The US economy grew by an annualized 2.4% in Q2, higher than market estimates of 1.8%. Initial jobless claims fell to 221,000, the lowest in five months. Asian markets showed mixed results, with Japan's Nikkei 225 and Australia's S&P/ASX 200 falling, while Shanghai Composite and Hang Seng index rose. European markets were mostly down, while commodities showed mixed results. US futures were up, and the US Dollar Index rose by 0.09%.

Portfolio Pulse from Akanksha Bakshi

July 28, 2023 | 9:35 am