Streetbeat News

Stock Prices

EH

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

OC

Owens Corning Inc (NYSE:OC) reported a slight decline in Q1 fiscal 2024 net sales to $2.3 billion, narrowly beating consensus estimates. Despite a sales drop, the company saw a significant increase in adjusted EPS to $3.59 from $2.80 a year ago, surpassing expectations. Adjusted EBIT and EBITDA also rose, with margins expanding significantly. The company highlighted its margin expansion and enhanced product lineup as key drivers of its performance. Owens Corning also reported positive operating cash flow, continued share repurchases, and dividend payments. Looking ahead, it expects Q2 net sales to align with the previous year and maintains a focus on innovation with 13 new or enhanced products introduced.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:06 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after announcing the completion of the first phase of battery line integration at its high energy facility. The company targets the production line start for early 2025, expecting to hire over 200 people. CEO David Michery highlighted the plant's role in strengthening the supply chain and supporting American-made battery components. Mullen also announced the production of its 500th commercial electric vehicle and plans for expansion into Europe and the U.S. Nearly 10 million shares have been traded, with a 25.04% short interest. MULN shares are up 44% at $3.93.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 4:05 pm

PEP

PepsiCo shares are trading higher, reversing a previous fall that occurred on Tuesday following the announcement of Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:04 pm

OTIS

Otis Worldwide Corp (NYSE:OTIS) reported a 2.7% Y/Y sales growth for Q1 fiscal 2024, missing consensus estimates. Adjusted operating profit and EPS exceeded previous figures, with notable performance in service sales and maintenance portfolio units. Despite this, OTIS shares fell by 4.47%. The company raised its EPS outlook and quarterly dividend by 14.7%, planning to increase its share repurchase target to $1 billion.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 4:03 pm

IMAX

IMAX Corporation (NYSE:IMAX) and CineNOVA have announced a partnership to install four new IMAX with Laser systems in Turkey, marking the first introduction of this technology in the country. The installations are set to begin in 2024, with the aim to enhance the Turkish cinema experience and expand IMAX's footprint in a market where it has seen significant box office success. This deal represents a 50% increase in IMAX's presence in Turkey, highlighting the country's growing importance in IMAX's global strategy.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:01 pm

MAT

Eight analysts provided mixed ratings for Mattel (NASDAQ:MAT), with an unchanged average 12-month price target of $23.00. The ratings reflect a blend of bullish and bearish sentiments, with recent actions including both raised and maintained price targets. Mattel's financial performance is strong, with significant revenue growth, high net margin, and ROE, although its debt-to-equity ratio indicates a higher level of debt. The company's market position is solid, with substantial market capitalization and a diverse product portfolio.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:01 pm

SMBK

In the latest quarter, 4 analysts provided mixed ratings for SmartFinancial (NYSE:SMBK), with 3 somewhat bullish and 1 indifferent. The 12-month price targets set by analysts average at $25.5, with a high of $26.00 and a low of $24.00. Analyst actions included maintaining, raising, and lowering ratings, reflecting dynamic market conditions and company performance. SmartFinancial's financials show challenges, including a -12.61% revenue decline and below-industry benchmarks in net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:01 pm

CLF

Cleveland-Cliffs (NYSE:CLF) has been analyzed by 6 analysts, showing a mix of ratings from bullish to bearish. The average 12-month price target is $21.45, a slight decrease from the previous $21.83. Analyst actions include adjustments to ratings and price targets, reflecting changes in market conditions and company performance. Cleveland-Cliffs, a major steel producer and iron ore pellet manufacturer in North America, has seen revenue growth but faces challenges in profitability and efficiency, with a market capitalization below industry benchmarks.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:00 pm

BKR

Analyst ratings for Baker Hughes (NASDAQ:BKR) show a mix of bullish to bearish sentiments, with recent adjustments in price targets reflecting a slight negative outlook. The average 12-month price target has been adjusted to $40.4, down from $42.50, indicating a 4.94% decrease. Analysts from Benchmark, Susquehanna, RBC Capital, Barclays, and Citigroup have maintained or lowered their ratings, with price targets ranging from $39.00 to $42.00. Baker Hughes's financial performance shows strong revenue growth but challenges in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 4:00 pm