Streetbeat News

Revenues

AMZN

A survey from Upgraded Points found that the average American spends $91.75 per month on Amazon, or around $1,101 annually. The top 10 states for the highest average spending on Amazon are Tennessee, Delaware, Wisconsin, Iowa, Washington, New Mexico, Kentucky, Utah, Massachusetts, and Michigan. In Q1 2023, Amazon reported revenue of $127.4 billion, up 9% YoY, with North American sales making up $76.9 billion of the total. Amazon's market capitalization is $1.32 trillion.

Portfolio Pulse from Chris Katje

July 12, 2023 | 10:57 pm

TSLA

Tesla Inc's Model Y has seen a significant surge in registrations in the US, with twice as many SUVs registered in the first five months of 2023 compared to the same period last year. This has contributed to the growth of the EV market, with EVs accounting for 7% of new car registrations, up from 4.6% the previous year. The average price of EVs has dropped 20% within a year, aligning with Tesla's strategy to increase the number of vehicles on the road.

Portfolio Pulse from Benzinga EV Insights

July 12, 2023 | 10:10 pm

PLNHF

Cannabis lounges are emerging as unique establishments for legal marijuana consumption in a social setting, with states like California, Alaska, New York, and Colorado joining Illinois, Michigan, New Mexico, and Nevada in embracing this concept. These lounges contribute to job creation, generate tax revenue, stimulate local economies, and can lead to increased real estate activity. Planet 13 Holdings Inc. (OTCQX:PLNHF) recently announced the return of Cannabition in Las Vegas, with a first-of-its-kind consumption lounge.

Portfolio Pulse from Joana Scopel

July 12, 2023 | 8:24 pm

STRC

Sarcos Technology and Robotics Corporation (STRC) has withdrawn its full-year revenue guidance and reported preliminary Q2 revenue of $1.3 million.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 8:11 pm

STRC

Sarcos Technology and Robotics Corporation (STRC) has formed a new Advanced Technologies Software Business Division to drive emerging SaaS/AI revenue opportunities. The move is aimed at leveraging the company's expertise in robotics and AI to create new revenue streams.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 8:09 pm

ARBK

Argo Blockchain's shares are trading higher following the announcement of its June mining revenue.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 7:00 pm

Stephens & Co analyst Nicholas Zangler initiated coverage on DoubleVerify Holdings Inc (DV) with an Overweight rating and a price target of $47. Zangler expects a revenue CAGR of +20% over the next several years due to growth in product launches, customer growth, and international expansion. The analyst estimates revenues of $563.0 million and adjusted EBITDA of $175.7 million in FY23 and $698.1 million and $222.5 million, respectively, in FY24.

Portfolio Pulse from Lekha Gupta

July 12, 2023 | 4:29 pm

GHG

GreenTree Hospitality Group Ltd. (NYSE:GHG) reported preliminary Q1 2023 results, expecting revenues of $54 million-$56.7 million. The company opened 91 new hotels, and total revenues from organic hotels increased by 16.8% YoY to $36.8 million. The revenue per available room (RevPAR) recovered to 94.3% of its Q1 2019 level. The restaurant business is estimated to have generated a combined unaudited revenue of about $17.3 million to $19.9 million. GHG shares are trading higher by 2.85% to $5.42.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 3:57 pm

AAPL

Apple Inc's shares are trading higher amid overall market strength following a lighter-than-expected June inflation report. Lower inflation corresponds to reduced costs for inputs such as raw materials, components, and manufacturing expenses, which can help Apple control its production costs, enhance profit margins or potentially invest the savings in research and development or other growth initiatives. Lower inflation also helps preserve consumer purchasing power, potentially leading to increased demand for Apple's products.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:07 pm

ATVI

AVGO

BRK-A

COIN

COTY

DIS

DPZ

GOOG

HYMTF

IBM

MSFT

NVO

TAK

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm