Latest News for UGI Stock (NYSE:UGIC)

UGI Corp is an American holding company that, through its subsidiaries, is involved in the transport and marketing of energy and related services. Its segments include AmeriGas Propane, UGI International, Midstream & Marketing and UGI Utilities. The AmeriGas Propane segment consists of the propane distribution business. The UGI International segment consists of LPG distribution businesses. The Midstream & Marketing segment consists of energy-related businesses. The UGI Utilities segment consists of the regulated natural gas and electric distribution. The company derives a majority of its revenue from the UGI International segment.

UGI Corp

Biotech

News

Health Care

General

CVAC

CureVac Is Implementing In 2024 An Organizational Redesign To Streamline Structures And Reduce Operating Costs. The Program Was Initiated With A "Voluntary Leaver" Program, To Reduce 150 Position

ASLN

ASLAN Pharmaceuticals Disclosed Late Breaking Abstract On Eblasakimab In COPD Accepted For Presentation At The American Thoracic Society International Conference

Net loss of approximately&nbsp;$36&nbsp;million, primarily driven by a&nbsp;$63&nbsp;million&nbsp;expense associated with legacy litigation.&nbsp;Cash and cash equivalents of approximately&nbsp;$423&nbsp;million.
Organic revenue CAGR (2024-2027)&nbsp;of approximately&nbsp;10%, to approximately&nbsp;$15.5 billion&nbsp;to&nbsp;$16.0 billion&nbsp;of revenue.&nbsp;Adjusted diluted EPS CAGR (2024-2027)&nbsp;of more than&nbsp;15%.

Guidance

GXO Reports Preliminary Q1 2024 Results, Revenue Of $2.5B, Est $2.375B; Updates Its 2027 Financial Targets

WIIM

SLAB

Silicon Laboratories shares are trading higher after the company reported better-than-expected Q1 results and issued Q2 guidance.

CureVac's Cash And Cash Equivalents Position Of €402.5M As Of December 31, 2023 Is Expected To Provide Cash Runway Into Q4 2025

TransAlta Announced That The Combined 300 MW White Rock East And White Rock West Wind Facilities, Located In Caddo County, Oklahoma, Have Achieved Commercial Operation

Earnings

Earnings Misses

CureVac Q4 Sales €22.600M Miss €33.744M Estimate

Mr. Cooper Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) reported quarterly earnings of $2.28 per share which beat the analyst consensus estimate of $2.09 by 9.09 percent. The company reported quarterly sales of $564.000 million which beat the analyst consensus estimate of $497.060 million by 13.47 percent. This is a 70.91 percent increase over sales of $330.000 million the same period last year.

Earnings Beats

COOP

Mr. Cooper Gr Q1 2024 Adj EPS $2.28 Beats $2.09 Estimate, Sales $564.000M Beat $497.060M Estimate

&quot;With the year beginning largely as expected, we continue to anticipate that 2024 adjusted earnings per share will be in the range of&nbsp;$4.00&nbsp;to&nbsp;$4.25&nbsp;per share,&quot; said Allman. &quot;Through our ongoing investments in our market leading brands, innovation, and service and our disciplined capital allocation strategy, we are confident in Masco&#39;s ability to continue to deliver long-term shareholder value.&quot;

Masco Continues To Expects FY24 Adj. EPS Between $4.00-$4.25 Vs. $4.13 Consensus

Business&nbsp;Outlook
The company expects&nbsp;second-quarter&nbsp;revenue to be between&nbsp;$135&nbsp;to&nbsp;$145 million. The company also estimates the following results:
On a GAAP basis:
<ul>
<li>GAAP gross margin to be&nbsp;53%</li>
<li>GAAP operating expenses of approximately&nbsp;$125 million</li>
<li>GAAP diluted loss per share per share between&nbsp;$(1.45)&nbsp;to&nbsp;$(1.61)</li>
</ul>
On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:
<ul>
<li>Non-GAAP gross margin to be&nbsp;53%</li>
<li>Non-GAAP operating expenses of approximately&nbsp;$102 million</li>
<li>Non-GAAP diluted loss per share between&nbsp;$(0.58)&nbsp;to&nbsp;$(0.70)</li>
</ul>

Silicon Laboratories Expects Q2 Revenue of $135M-$145M Vs $141.41M Est, Adj EPS Loss of $(0.58)-$(0.70) Vs $(0.45) Est

FWBI

First Wave Biopharma Announced Research Generated From Two Previously Completed Phase 2 Clinical Trials Of Latiglutenase Has Been Published In The Special Issue In The Peer-reviewed Scientific Journal

Malcolm Wilson, Chief Executive Officer of GXO, said, &quot;Our solid preliminary&nbsp;first quarter&nbsp;results reflect the improving trend we noted earlier this year, and we anticipate continued sequential organic growth throughout 2024. As a result, we are reiterating our full-year 2024&nbsp;guidance.

GXO Logistics Reiterates Outlook For Full Year 2024 On A Standalone Basis; Updates Guidance To Include Expected Impact Of Wincanton Acquisition

While investors looking for an easy way into Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) via ETFs might face a wait, investment bank Standard Chartered remains optimistic about the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38364309/bitcoin-miners-in-for-a-rough-ride-after-halving-report">future of digital assets</a>.
What Happened: Despite revising their previous May timeline for US approval of Ether ETFs, the bank believes the market is well-positioned for a rebound, Coindesk <a href="https://www.coindesk.com/markets/2024/04/23/ether-etfs-are-unlikely-to-be-approved-in-may-standard-chartered/?utm_campaign=coindesk_main&amp;utm_source=twitter&amp;utm_content=editorial&amp;utm_term=organic&amp;utm_medium=social">reported</a>. Prediction market Polymarket assigns only a <a href="https://polymarket.com/event/ethereum-etf-approved-by-may-31?tid=1713957107801">16% chance</a> to a spot Ethereum approval by May 31.
Crypto Headwinds And Silver Linings
Standard Chartered analyst Geoff Kendrick, who had previously predicted a May 23 approval for spot Ether ETFs, highlighted several challenges impacting digital assets. 
&#8220;The U.S. Securities and Exchange Commission (SEC) has targeted decentralized finance (DeFi) by suing Uniswap, U.S. Treasury yields have jumped, Federal Reserve rate cuts have been pushed back, and BTC and ETH — as risky assets — have been pulled lower by the escalation of the conflict in the Middle East,&#8221; Kendrick stated in a research report. 
This array of negative factors has tempered the immediate outlook for Ethereum&#8217;s integration into mainstream financial products.
Despite these setbacks, Standard Chartered remains optimistic about the future of digital assets. 
The bank reassures that the worst may be over for the markets, stating, &#8220;The bad news is already priced in for bitcoin and ether, and positive structural drivers are expected to take over again.&#8221; 
They maintain a bullish end-of-year price target of $150,000 for Bitcoin and $8,000 for Ether, which were trading around $66,800 and $3,237 respectively at the time of the report.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38384156/mt-gox-creditors-see-repayment-light-at-the-end-of-the-tunnel">Mt. Gox Creditors See Repayment Light At The End Of The Tunnel</a>
Why It Matters: The report also noted significant market adjustments, citing the largest daily liquidation of leveraged long positions in the Bitcoin futures market since October 2023, which occurred on April 13 in response to geopolitical tensions in the Middle East. 
This event removed $261 million from the market, signaling a &#8220;much cleaner&#8221; market positioning moving forward.
Furthermore, the initial <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38373531/spot-bitcoin-etfs-register-35m-net-inflow-on-first-post-halving-trading-day">surge in Bitcoin spot ETF inflows</a> has slowed, influenced by macroeconomic factors such as rising U.S. Treasury yields and ongoing geopolitical tensions. 
While the first wave of ETF buying appears largely complete, the integration of these funds into broader macro funds is anticipated, although this transition may require some time.
What&#8217;s Next: As discussions on the future of digital assets continue, Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will delve deeper into these topics, exploring how shifts in regulatory and market landscapes could shape the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38378731/venezuela-turns-to-crypto-as-us-sanctions-return-on-oil-exports">trajectory of cryptocurrencies</a> like Bitcoin and Ethereum.
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38382733/crypto-lobby-group-sues-sec-over-new-dealer-rule"> Crypto Lobby Group Sues SEC Over New Dealer Rule</a>
Image: Pixabay

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ETH

Spot Ethereum ETF Approval Unlikely But 'Bad News Already Priced In': Standard Chartered

INVA

Innoviva Specialty Announced That Positive Results From The Phase 3 Oral Zoliflodacin Trial Will Be Highlighted In An Oral Presentation At The European Society Of Clinical Microbiology And Infectious Disease Global Congress

Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) reported quarterly losses of $(0.92) per share which beat the analyst consensus estimate of $(0.98) by 6.12 percent. The company reported quarterly sales of $106.375 million which beat the analyst consensus estimate of $105.084 million by 1.23 percent. This is a 56.90 percent decrease over sales of $246.787 million the same period last year.

Silicon Laboratories Q1 2024 Adj EPS $(0.92) Beats $(0.98) Estimate, Sales $106.375M Beat $105.084M Estimate

HCSG

Healthcare Services Reiterates 2024 Forecast For Adjusted Cash Flow Range Of $40M-$55M; Expects Q2 Revenue In The Range Of $420M-$430M Vs. $430.417M Consensus

ARQQ

Arqit Quantum Announced The Successful Trial Deployment Of Arqit's Network Secure Product By The Satellite Applications Catapult Which Works Across The Space Sector To Make Use Of And Benefit From Satellite Technologies

Visa Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares are trading higher in the<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">&nbsp;premarket session on Wednesday.</a>
After yesterday&#8217;s closing bell, Visa reported second-quarter 2024 adjusted earnings of $2.51 per share,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38391557/visa-shares-rise-after-better-than-expected-q2-results" rel="noreferrer noopener">which beat the analyst consensus estimate of $2.44 by 2.87%.&nbsp;</a>
Payments volume for the three months ended March 31, 2024, increased by 8%, while cross-border volume,&nbsp;excluding transactions within Europe, which drives international transaction revenue, increased
16% on a constant-dollar basis. Total cross-border volume on a constant-dollar basis increased by 16% in the quarter.
Quarterly revenues came in at $8.775 billion, beating the analyst consensus estimate of $8.627 billion, up 9.89% year over year.
Cash, equivalents, and investment securities were $20.8 billion at March 31, 2024.
Visa expects third-quarter net revenue growth in the low double-digits and earnings per share in the high end of low double-digits.
The company&nbsp;currently&nbsp;expects full-year 2024 net revenue growth in the low double-digits and earnings per share growth in&nbsp;the the low-teens.
Read Next:<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38388017/general-motors-potential-in-ev-transformation-weighed-by-analysts-after-q1-beat-was" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38388017/general-motors-potential-in-ev-transformation-weighed-by-analysts-after-q1-beat-was" rel="noreferrer noopener">General Motors&#8217; Potential In EV Transformation Weighed By Analysts After Q1 Beat- Was This a &#8216;Prove Me&#8217; Quarter For CEO Mary Barra?</a>
Price Action: V shares are trading higher by 2.84% to $281.89 premarket at the last check Wednesday.
Photo via Shutterstock

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TLRY

Tilray Brand Announced The Release Of New Cannabis Flower Products Added To The Good Supply 'Bud Squad'

ATAI

Atai Life Sciences Disclosed Dosing Of First Patient In Part 2 Of Beckley Psytech's Phase 2a Study Exploring BPL-003 Adjunctive To SSRIs In Patients With Treatment Resistant Depression

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Latest News for UGI Stock (NYSE:UGIC)

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