Streetbeat News

Revenues

F

GM

Ford and General Motors executives report that demand from US retail and commercial customers has exceeded expectations, with both companies continuing their cost-cutting programs. This comes as the US Commerce Department reports a surge in retail sales in May due to increased demand for motor vehicles.

Portfolio Pulse from Shivani Kumaresan

June 16, 2023 | 11:40 am

CHRS

Coherus expects Q2 FY23 sales of $48M-$53M from Udenyca and Cimerli, and over $275M for FY23, including at least $100M from Cimerli. The company affirms prior guidance for full year 2023 combined R&D and SG&A expenses in the range of $315M-$335M.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 11:08 am

NAAS

NaaS Technology reaffirms its FY23 revenue guidance of $73M-$87M.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 10:35 am

DB

Deutsche Bank's shares are down 3.5% in premarket trading after its CFO estimated a 15%-20% decline in 2Q fixed-income trading revenue on Thursday.

Portfolio Pulse from Charles Gross

June 16, 2023 | 10:32 am

ADBE

Adobe CEO Shantanu Narayen envisions generative AI as a creative co-pilot, enhancing human ingenuity and productivity. Adobe's Firefly software, which relies on generative AI, is integrated into popular programs like Photoshop and Illustrator. Adobe recently reported a successful quarter with revenues of $4.82 billion.

Portfolio Pulse from Benzinga Newsbot

June 16, 2023 | 7:18 am

CBT

Cabot Corporation reported that sales volumes in its Performance Chemicals segment for April and May 2023 were 13% lower year-over-year.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 9:08 pm

GOOGL

SQSP

Squarespace has entered a definitive agreement to acquire assets associated with Google Domains, including approximately 10 million domains. The transaction is expected to close in Q3 2023 and will be accretive to Squarespace's revenue and free cash flow over time.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 8:06 pm

FIS

Susquehanna analyst James E Friedman reiterated a Positive rating on Fidelity National Information Services, Inc. (FIS) with a price target of $81. The company's Future Forward initiative aims to reduce cash spending by $1.25 billion, with improving margin visibility. FIS is expected to benefit from new regulatory capital requirements and traction in non-FIs, specifically among Corporates and Governments.

Portfolio Pulse from Nabaparna Bhattacharya

June 15, 2023 | 6:24 pm

PLUG

Oppenheimer analyst Colin Rusch reiterated an Outperform rating on Plug Power Inc (NASDAQ:PLUG) after the company's analyst day. Plug Power highlighted its ramp to 100MW/month production, traction in stationary backup power and EV charging markets, and plans to double production in 2H. The company is also expanding internationally, targeting 25% of FY23 revenue from Europe.

Portfolio Pulse from Shivani Kumaresan

June 15, 2023 | 5:59 pm

SPSC

Needham analyst Scott Berg reiterated a Buy rating on SPS Commerce, Inc. (NASDAQ:SPSC) and raised the price target to $205 from $160. Berg is optimistic about the company's ability to meet or exceed its 15%+ annual revenue growth targets, even amid a slower macroeconomic environment. The analyst also believes that SPS could be more acquisitive for products, providing cross-sell opportunities and boosting functionality in a customer's value chain.

Portfolio Pulse from Nabaparna Bhattacharya

June 15, 2023 | 5:35 pm