Streetbeat News

Revenues

TFC

Truist Financial Corp's CFO Daryl Maguire announced that the company's topline revenue is likely to decline by 3%.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 6:49 pm

AAL

ALK

DAL

LUV

UAL

Morgan Stanley's global survey of corporate travel managers indicates an expected increase in travel budgets for 2023 and 2024. Small and medium-sized businesses are leading the recovery, with 42% returning to pre-COVID travel levels. This trend may favor low-cost carriers like Southwest Airlines and Alaska Air Group.

Portfolio Pulse from Shivani Kumaresan

June 12, 2023 | 6:43 pm

HQY

KeyBanc Capital Markets analyst Scott Schoenhaus reiterated an Overweight rating on HealthEquity, Inc. (NASDAQ:HQY) with a price target of $85. The analyst is bullish on the company's higher custodial yields and expects revenue growth through market share gains in the Health Savings Accounts markets. FY24 and FY25 revenue and adj. EBITDA estimates have been increased.

Portfolio Pulse from Nabaparna Bhattacharya

June 12, 2023 | 6:39 pm

FN

Needham increased its price target on Fabrinet (NYSE:FN) from $120 to $150 with a Buy rating, citing confidence in the company's outlook and new AI customer. Fabrinet's new AI project, which started two years ago, is estimated to bring in over $100 million in business, offsetting pressures on the Telecom business and supporting double-digit growth.

Portfolio Pulse from Vandana Singh

June 12, 2023 | 6:39 pm

GXO

Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on GXO Logistics (NYSE:GXO) and raised the price target from $62 to $67. The analyst is positive on the company's growth story, citing secular warehouse supply chain outsourcing tailwinds and a $2.3 billion business pipeline. Schneeberger also sees at least 6% y/y 2023 organic revenue growth and potential margin improvements due to automation and operating efficiency initiatives.

Portfolio Pulse from Nabaparna Bhattacharya

June 12, 2023 | 6:13 pm

EPAM

KeyBanc Capital Market analyst Thomas Blakey downgraded EPAM Systems, Inc. (NYSE:EPAM) to Sector Weight from Overweight, citing pricing headwinds, increased caution in spending from clients, and lower pipeline conversions. KeyBanc reduced FY23 and FY24 revenue guidance for the company.

Portfolio Pulse from Nabaparna Bhattacharya

June 12, 2023 | 5:51 pm

PLUG

Plug Power shares are trading higher following the announcement of its ambitious targets ahead of its Analyst Day event. The company aims to achieve $1.4 billion in revenue by 2023 and annual sales of $20 billion by 2030.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 4:51 pm

FRZA

ONEW

Forza X1 Inc (NASDAQ:FRZA) has priced a public offering of 5.33 million shares at $1.50 per share, a 51.9% discount to its closing price on June 9, 2023. The company expects to raise $8 million and plans to use the proceeds for its manufacturing facility and other corporate purposes. Forza also received an initial purchase order from OneWater Marine Inc (NASDAQ:ONEW) for 100 units of its electric monohull boat, potentially generating $12 million in revenue.

Portfolio Pulse from Shivani Kumaresan

June 12, 2023 | 4:05 pm

PLUG

Plug Power Inc. (NASDAQ:PLUG) announces webcast details for its Analyst Day on June 14, 2023, showcasing revenue growth opportunities and operational scale at its Gigafactory in Rochester, NY. The company aims for a near-term revenue goal of $1.4B in 2023 and a long-term target of $20B annual sales by 2030.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 3:47 pm

FRZA

ONEW

Forza X1 receives an initial purchase order from OneWater Marine for 100 units of its 22-foot electric boats, potentially generating $12M in revenue. This marks Forza's first sale of its 22-foot electric boat and expands its partnership with OneWater.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 2:12 pm