Streetbeat News

Revenues

NTES

Bernstein analyst Robin Zhu initiates coverage on NetEase Inc (NASDAQ:NTES) with an Outperform rating and a price target of $120. NetEase has shown consistent growth and is expanding overseas with new game launches. The company is also expected to benefit from generative AI development in the gaming industry.

Portfolio Pulse from Anusuya Lahiri

June 05, 2023 | 3:50 pm

BKTI

BK Technologies Corp (NYSE:BKTI) has received FCC approval for its BKR 9000 multiband radio, which is expected to expand its addressable market and attract new customers. The company aims to achieve a revenue goal of $100 million by 2025.

Portfolio Pulse from Akanksha Bakshi

June 05, 2023 | 3:40 pm

SYTA

Siyata Mobile announced receiving $400,000 in new orders for its SD7 Handsets and VK7 Vehicles Kits, leading to a higher trading of its shares.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 3:35 pm

QABSY

Qantas Airways expects airfares to moderate as capacity returns to pre-pandemic levels. The company aims to reach 100% of its pre-pandemic capacity for international networks by March 2024 and 115% for domestic operations by next year. Qantas is also expanding its international network with more aircraft and new routes.

Portfolio Pulse from Nabaparna Bhattacharya

June 05, 2023 | 2:23 pm

TSLA

Tesla reported a 2.4% increase in China sales for May compared to April and a 141.6% increase compared to May 2022. Citigroup maintained a Neutral rating on the stock but raised its price target from $175 to $215.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 1:49 pm

ENTG

ESI

Entegris has terminated its distribution deal with MacDermid Alpha Electronics Solutions, a unit of Element Solutions, in exchange for $200 million. Entegris received $170 million at closing, with the remainder to be paid after the transitionary period. The company plans to use the proceeds for debt repayment.

Portfolio Pulse from Lekha Gupta

June 05, 2023 | 1:26 pm

SPXC

SPX Technologies has completed the acquisition of ASPEQ Heating Group for $418 million in cash. The company raised its 2023 guidance, expecting annual revenue of about $120 million from ASPEQ. SPXC now projects revenue of $1.68 billion-$1.72 billion and an adjusted operating income margin of 15.00%-15.75%.

Portfolio Pulse from Lekha Gupta

June 05, 2023 | 1:13 pm

SNES

SenesTech announced a distribution agreement and an initial order for its ContraPest product in the Maldives. The agreement will expand the company's market reach and potentially increase revenues.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 1:03 pm

MAR

Marriott International plans to expand in the affordable midscale lodging segment with a new extended stay brand, Project MidX Studios, targeting the US and Canada. The brand aims to offer modern comfort for guests seeking longer stays at around $80 per night. Marriott reported a Q1 revenue growth of 34% YoY to $5.62 billion.

Portfolio Pulse from Shivani Kumaresan

June 05, 2023 | 12:55 pm

AMRS

Amyris has initiated a strategic transformation program and secured funding to achieve its cost reduction target of approximately $250 million from cost of goods sold.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 12:46 pm