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DIS

Disney (NYSE:DIS) lost a First Amendment challenge against Florida Governor Ron DeSantis regarding the Reedy Creek region, which houses Disney World. Federal Judge Allen Winsor dismissed the case, stating Disney lacked standing to sue. The company plans to continue its legal fight, emphasizing the case's importance for the rule of law. Meanwhile, Disney and the Central Florida Tourism Oversight District (CFTOD) are still in a legal battle over land use agreements. Disney's stock was down 1% on Wednesday.

Portfolio Pulse from Chris Katje

January 31, 2024 | 11:18 pm

BDN

Brandywine Realty Trust (BDN) reported a decrease in Q4 EPS to $0.27 from $0.32 YoY, with sales of $130.17M falling short of the $134.13M estimate. Despite this, sales saw a slight increase of 0.92% compared to the same period last year.

Portfolio Pulse from mahesh@benzinga.com

January 31, 2024 | 11:07 pm

CTVA

Corteva Inc. (NYSE:CTVA) reported Q4 adjusted earnings of $0.15 per share, beating estimates of $0.06, but down from $0.16 year-over-year. Sales were $3.71 billion, exceeding expectations of $3.62 billion, yet down 3.08% from last year. The company experienced a net sales decrease of 3% and an 8% organic sales decrease, with a 9% volume decline in Latin America. Operating EBITDA increased by 4% to $386 million. Corteva forecasts 2024 net sales of $17.4-$17.7 billion, with adjusted earnings of $2.70-$2.90 per share, below the $3.01 estimate. The company announced a $1.0 billion share repurchase plan for 2024. After the earnings release, CTVA shares rose 4.55% to $47.55 in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 31, 2024 | 11:00 pm

VCXB

10X Capital Venture Acquisition Corp. has received a notice from the NYSE indicating that it is not in compliance with the exchange's listing standards. The specific standards not met were not disclosed in the news snippet provided.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:47 pm

SPHR

Sphere Entertainment's Las Vegas Sphere venue gained attention with U2 concerts and viral ads. It's set to benefit from Super Bowl LVIII with ad rates up to $2M for the week. Dead & Company, featuring Grateful Dead members, confirmed potential shows at the Sphere. Sphere Entertainment reported Q1 revenue of $118M, down 4% YoY, with $7.8M from the Sphere. The second quarter will include U2 concert revenue and Super Bowl ad earnings. SPHR shares were up 0.6% to $35.38.

Portfolio Pulse from Chris Katje

January 31, 2024 | 10:41 pm

KPRX

Trading for KPRX was halted and then resumed at 5:40 PM ET, with updated quotation resumption times following the release of news.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:40 pm

SVT

Servotronics, Inc. has appointed Harrison W. Kelly as its new Chief Operating Officer (COO). This strategic move could signal a new direction or operational strategy for the company. Investors may watch for potential changes in operations and performance under Kelly's leadership.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:37 pm

NXT

Nextracker Inc. (NASDAQ:NXT) reported Q3 earnings of 96 cents per share, surpassing estimates of 48 cents, and revenue of $710.43 million, beating estimates of $617.95 million. The company saw a 168% increase in adjusted EBITDA year-over-year and raised its FY 2024 revenue guidance to $2.425-$2.475 billion, with GAAP net income expected between $374-$429 million. Shares rose 18.20% to $53.51 in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 31, 2024 | 10:26 pm

OBT

Orange County Bancorp (NASDAQ:OBT) reported Q4 earnings of $1.44 per share, surpassing the $1.34 estimate, and sales of $25.89M, exceeding the $24.55M estimate. However, there was a 10.56% decrease in earnings and a slight 0.05% drop in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:26 pm

NEU

NewMarket Corporation reported a decrease in Q4 earnings per share from $9.26 to $8.38 and a 5.74% drop in sales to $643.35M compared to the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:24 pm