Streetbeat News

Revenues

SNAP

Snapchat's subscription-based platform, Snapchat+, has attracted 4 million paid subscribers in its first year, according to Axios.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:19 pm

MULN

Mullen Automotive (NASDAQ:MULN) has sold 22 EV cargo vans to Randy Marion Automotive Group, marking its first recorded revenue of $308,000. The revenue will be recognized in the quarter ending June 30, 2023. Mullen is also in process with six Campus EV Pilot Programs across four different industry categories. The company's commercial vehicles will be produced at Mullen's Tunica assembly plant.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:18 pm

CXXIF

C21 Investments Inc. reported Q1 FY 2024 revenue of $7.7 million, up 9.4% sequentially, and an increase of 3% compared to Q1 FY 2023. However, gross profit decreased by 31.8% to $2.7 million, and gross margin was 35.4%, down from 53.4% in Q1 FY 2023. Adjusted EBITDA was $1.6 million, a 67% increase sequentially, but a 30% decrease compared to Q1 FY 2023. The company ended the period with $1.8 million in cash.

Portfolio Pulse from Vuk Zdinjak

June 29, 2023 | 12:10 pm

AMD

AMZN

MSFT

NVDA

ORCL

Oracle Corp is investing billions of dollars in Nvidia Corp chips to expand its cloud computing service targeting the AI boom. The company is also investing heavily in central processor units from Ampere Computing and Advanced Micro Device Inc. Oracle's cloud division is working to compete with larger rivals like Amazon Web Services and Microsoft Corp. In June, Oracle reported a 17% YoY increase in Q4 revenue to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:37 am

LNN

Lindsay Corporation expects an increase in sales volume in Brazil for the 4th quarter, due to a new government financing program. The company also anticipates continued support from positive agricultural market fundamentals and global concerns over food security and grain supplies in other international markets.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 10:51 am

KA

MRK

Kineta, Inc. (NASDAQ:KA) has achieved a development milestone in its research and development collaboration with Merck (MRK), triggering a $5 million payment. The collaboration is focused on the discovery and development of novel candidates for the treatment of amyotrophic lateral sclerosis (ALS).

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 10:33 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is reportedly close to selling out its new inventory in Australia, with fewer than 20 vehicles remaining available for purchase nationwide. This follows the company's recent offering of free Supercharging for select Australian models and a discount of A$4,000 on certain vehicle models. The inventory clearance could position Tesla for a record-breaking sales quarter in Australia. Tesla is expected to announce its global second-quarter delivery figures on July 2, with Future Fund's Gary Black predicting record quarterly sales of 450,000 units.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 9:04 am

EVO

Evotec SE announced that it will receive a €2m milestone payment from Bayer AG, triggered by the first patient dosed in the Phase I study of a kidney disease programme. The drug candidate, a monoclonal antibody targeting the protein Semaphorin-3A, is being developed as a potential treatment for Alport syndrome, a rare genetic kidney disease.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 7:19 am

RIG

Transocean has secured a $184M award for harsh environment semisubmersible. The award is expected to commence in Q1 2025, following the rig's previously announced five-well, 300-day commitment in Australia with a major operator, expected to start in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 9:24 pm

MU

Micron Technology has announced that pricing trends are improving and they have increased confidence that the industry has passed the bottom for quarterly revenue and growth.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:40 pm