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META

SNAP

TikTok's US revenues reached $16 billion amid threats from Washington to ban the app. The article suggests that such a ban could impact competitors like META and SNAP, potentially affecting their market positions and financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:55 am

EADSY

UAL

United Airlines Holdings Inc (UAL) is reportedly finalizing negotiations to acquire approximately three dozen Airbus SE's (EADSY) A321neo jets from lessors, aiming to replace delayed Boeing Company (BA) 737 Max 10 orders. The delivery of these jets is expected between 2025 and 2027, a move driven by certification delays in Boeing's Max 10. United's CEO, Scott Kirby, stated that any agreements would depend on favorable economics and advised Boeing to concentrate on the Max 9 until the Max 10 receives federal certification. This strategic shift to Airbus could give the European manufacturer a competitive advantage over Boeing, especially as United was a significant initial customer for the Max 10.

Portfolio Pulse from Shivani Kumaresan

March 15, 2024 | 10:54 am

MSTR

JPMorgan analysts have expressed concerns about the potential market risks posed by MicroStrategy's debt-driven Bitcoin purchases. MicroStrategy, under CEO Michael Saylor, has aggressively bought Bitcoin, financed through debt, including a plan to issue $500 million in convertible debt for more purchases. This strategy, amid Bitcoin's price surge to over $73,000, could amplify a market downturn, with some predicting a correction to the $50,000 range.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 10:36 am

KOMP

VWO

EHang Holdings Ltd (EH) reported a significant revenue increase of 260.9% Y/Y in Q4 fiscal 2023, reaching RMB56.6 million ($7.97 million), surpassing the consensus of $7.83 million. The company's adjusted loss per ADS improved to $(0.04), beating the consensus loss of $(0.10). Despite a decline in gross margin to 64.7%, EHang's stock price rose post-announcement. The company also reported positive cash flow from operations and expects a 160% Y/Y revenue increase in Q1. EHang is included in SPDR S&P Kensho New Economies Composite ETF (KOMP) and Vanguard FTSE Emerging Markets ETF (VWO).

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 10:36 am

HIBB

Hibbett, a sporting goods retailer, forecasts its fiscal year 2025 sales to range from flat to a 2% increase, with earnings per share (EPS) projected to be between $8.00 and $8.75, compared to the estimated $8.82.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:34 am

HIBB

Hibbett reported Q4 earnings of $2.55 per share, meeting analyst estimates but marking a 12.37% decrease from last year. Sales were $466.59M, missing estimates by 2.28% but showing a 1.81% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:31 am

CBAT

CBAK Energy Tech (NASDAQ:CBAT) reported Q4 earnings with a loss of $(0.06) per share, missing the $0.01 estimate, and sales of $56.20M, missing the $58.86M estimate. This represents a 50% improvement in losses and a 3.20% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:06 am

HITI

High Tide Inc. (NASDAQ:HITI) is set to acquire the Canadian cannabis brand Queen of Bud for $1M, expanding its international brand portfolio. The deal includes all IP and trademarks of Queen of Bud, with its founder becoming a global brand ambassador. The transaction, pending TSX Venture Exchange approval, involves a $100,000 cash payment and the remainder in High Tide Shares, based on a 10-day volume weighted average price.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:05 am

TSQ

Townsquare Media (TSQ) reported Q4 adjusted EPS of $0.34, surpassing the $0.27 estimate, and sales of $114.79M, exceeding the $111.85M estimate. However, this represents a 48.48% decrease in EPS and a 4.56% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:04 am

ADBE

CLSK

COIN

MARA

MSTR

RIOT

SMAR

ULTA

In Friday's pre-market session, Adobe Inc. (ADBE) shares fell sharply after reporting Q1 results with weak Q2 revenue guidance. Other stocks like Smartsheet Inc. (SMAR), PagerDuty, Inc. (PD), MicroStrategy Incorporated (MSTR), Ulta Beauty, Inc. (ULTA), CleanSpark, Inc. (CLSK), Coinbase Global, Inc. (COIN), Marathon Digital Holdings, Inc. (MARA), and Riot Platforms, Inc. (RIOT) also recorded losses, mainly due to disappointing financial results or a pullback in Bitcoin prices.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 9:31 am