Streetbeat News

Revenues

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

SHPW

Shapeways has secured two new Tier 1 supplier contracts, which will result in more than $2.8 million in annual revenue for the next seven years. This demonstrates Shapeways' proficiency in partnering with Tier 1 manufacturers to support OEM volume production.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:19 pm

CNXC

Concentrix has reduced its FY23 reported revenue outlook from $6.705B-$6.830B to $6.575B-$6.640B. The new forecast is still above the consensus estimate of $6.21B.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:17 pm

AOUT

American Outdoor Brands (AOUT) forecasts a 3.5% increase in revenue for FY24 compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:15 pm

OSTK

Overstock.com has projected a 20% decline in its Q2 2023 revenue compared to the same period in the previous year.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:06 pm

DRI

FCPT

Four Corners Property Trust Inc. (NYSE:FCPT) continues to expand its portfolio through acquisitions of restaurant, healthcare, and retail properties across the US. The company has closed or announced $154 million in transactions for 2023, with 66% being casual dining properties and 25% medical retail sites. Hedge funds such as HighTower Advisors and Millennium Management have been accumulating shares of FCPT. The company also reported a 99.9% occupancy rate and 99.9% rent collections in Q1. Darden Restaurants Inc. (NYSE:DRI) sold 13 Cheddar’s Scratch Kitchen and one Olive Garden property to Four Corners.

Portfolio Pulse from Ethan Roberts

June 28, 2023 | 7:54 pm

SPY

The U.S. Congressional Budget Office projects the U.S. deficit to be 10% of GDP in 2053, up from 5.8% in 2023. It also projects U.S. revenues to be 19.1% of GDP in 2053, up from 18.4% in 2023, and outlays to be 29.1% of GDP in 2053, up from 24.2% in 2023.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 6:02 pm

NFLX

Netflix Inc (NASDAQ:NFLX) plans to phase out the “Basic” option from its price plans for Canada, which is expected to increase revenue per subscriber. Analyst Jason Helfstein from Oppenheimer maintains an Outperform rating for Netflix and raises the price target from $450 to $500. The shift from the lowest-priced ad-free tier could generate an incremental $4.4B for NFLX over a 12-month period.

Portfolio Pulse from Priya Nigam

June 28, 2023 | 3:33 pm

TIGO

Millicom International Cellular SA has reported slower service revenue growth in the first two months of Q2 2023 compared to Q1. The company now targets a cumulative equity free cash flow of at least $500M for the 2022-2024 period.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:15 pm

FXI

TSLA

Tesla (TSLA) is set to deliver record sales performance in China, with an estimated 155,000 vehicles to be delivered this quarter, a 13% increase from the previous record quarter. Despite this, Tesla's market shares are expected to decrease from 16% to 13% due to increased competition from local companies. Analysts suggest that Tesla needs to expand into China's lower-tier cities for further growth, but the cost of building service centers and stores could be a hindrance.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 2:41 pm