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Amazon.com Inc (NASDAQ:AMZN) is slashing fees for sellers of low-priced clothing to compete with Chinese fast-fashion company Shein. Amazon will charge only 5% for clothing under $15 and 10% for items between $15 and $20, down from the previous 17%. Shein is planning a confidential U.S. IPO at a valuation of up to $90 billion. Amazon's move comes as it faces challenges in the apparel sector, including the closure of its Amazon-style clothing stores. Alibaba Group Holding Limited (NYSE:BABA) was recently surpassed in value by PDD Holdings Inc (NASDAQ:PDD), which operates the shopping app Temu.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 12:33 pm

ALOT

AstroNova, Inc. reported a slight increase in Q3 bookings for fiscal 2024, with a 1% rise to $35.5 million compared to $35 million in the same quarter of the previous year. However, the company's backlog as of October 28, 2023, showed a significant decrease of 20%, dropping to $31.2 million from $39.3 million as of October 29, 2022.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:33 pm

VNCE

Vince Holding Corp. reported Q3 earnings of $0.08 per share, a significant improvement from a loss of $(0.43) per share in the same quarter last year. However, sales decreased by 14.70% to $84.08M from $98.56M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:32 pm

ALOT

AstroNova reported Q3 adjusted earnings per share (EPS) of $0.11, which is unchanged from the same period last year. However, the company's sales decreased by 4.71% to $37.55 million from $39.41 million in the same quarter of the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:31 pm

S

JMP Securities analyst Trevor Walsh has reaffirmed SentinelOne's Market Outperform rating and increased the price target from $22 to $33.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:29 pm

AKTS

Akoustis Technologies announced receiving its first development order from a major commercial satellite communications company for the use of its XBAW foundry services. This order marks a significant milestone for Akoustis as it expands its customer base and services in the satellite communications industry.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:26 pm

RDY

Dr. Reddy's Laboratories has agreed to make several payments to Coya Therapeutics, including a $7.5M upfront payment, $4.2M upon IND application acceptance, another $4.2M upon first patient dosing in a Phase 2 trial, and up to $40M in development and regulatory milestones. Additionally, Coya is eligible for up to $677.25M in sales-based milestones.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:24 pm

OP

OceanPal reported a decrease in Q3 earnings per share (EPS) to $(1.06) from $1.50 year-over-year (YoY), and a decline in time charter revenues to $3.87M from $5.12M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:21 pm

UWMC

UBS analyst Douglas Harter has initiated coverage on UWM Holdings (NYSE:UWMC) with a Sell rating and set a price target of $4.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:20 pm

COYA

Coya Therapeutics shares are set to resume trading at 7:35 a.m. ET after a halt.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:19 pm