Streetbeat News

Revenues

PRGS

Progress Software anticipates that its acquisition of ShareFile will contribute over $240 million in annual revenue and add more than 86,000 customers.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 10:14 am

PRGS

Progress Software anticipates its Q3 revenue and adjusted EPS to meet or exceed the high end of its previously issued guidance from June 25, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 10:10 am

TSLA

Elon Musk refutes claims of Tesla's struggles in China, stating that the Shanghai factory is operating at full capacity. Despite competition from BYD and others, Tesla's August sales in China grew 17% from July. Tesla plans to introduce a six-seat Model Y in China next year.

Portfolio Pulse from Anan Ashraf

September 09, 2024 | 9:53 am

PCRFY

TSLA

Panasonic has completed preparations for mass production of high-capacity 4680 EV batteries at its Wakayama plant, which will serve as a testing site for global processes. This move is crucial for the EV market as demand for efficient batteries grows. Panasonic is a key supplier for Tesla, which faces competition from Chinese automakers.

Portfolio Pulse from Benzinga Neuro

September 09, 2024 | 9:49 am

MSFT

NVDA

Despite the AI-driven rally in stocks like Nvidia and Microsoft, the tech sector faces underlying weaknesses, with many companies struggling post-recession. Non-AI tech firms are experiencing slow growth or contraction, and investor enthusiasm for AI stocks has waned.

Portfolio Pulse from Benzinga Neuro

September 09, 2024 | 8:24 am

AMZN

AVO

GOOG

GOOGL

MTRX

NVDA

ORCL

The S&P 500 experienced its largest weekly decline since March 2023, driven by a sell-off in megacap tech stocks like Amazon, Alphabet, and NVIDIA. The CNN Money Fear and Greed index shifted to the 'Fear' zone, indicating declining market sentiment. Despite a positive jobs report, most sectors closed negatively, with real estate being an exception.

Portfolio Pulse from Avi Kapoor

September 09, 2024 | 8:13 am

TDY

Teledyne FLIR Defense, a division of Teledyne Technologies, has secured a contract worth approximately $21 million to supply advanced surveillance systems to the Japan Maritime Self-Defense Force. The systems, known as Star SAFIRE 380-HLD, offer ultra-long-range performance and laser targeting capabilities.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 6:58 am

PLTR

LifeWallet has secured a key waiver from its largest creditor and launched new agreements with health plans and insurers. In partnership with Palantir Technologies, LifeWallet is enhancing its 'Chase to Pay' model with a sophisticated clearinghouse system. This initiative is expected to generate revenue through fees on savings from unnecessary Medicare secondary payments.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 6:37 am

TSLA

Tesla plans to expand its Supercharger network, with CEO Elon Musk seeking input on new locations. Despite past layoffs affecting the supercharging team, Tesla aims to invest $500 million in network expansion this year. The growth rate of Superchargers has slowed, but the company remains committed to increasing its network.

Portfolio Pulse from Anan Ashraf

September 09, 2024 | 6:27 am

FXI

China's Producer Price Index (PPI) for August fell by 1.8% year-over-year, which is a larger decline than the estimated 1.5% and the previous month's 0.8% decrease. This indicates continued deflationary pressures in China's industrial sector.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 5:28 am