Riot Platforms gains after Jefferies upgrade
Shares of Riot Platforms were up nearly 2% after a Jefferies upgraded to buy from hold.
RIOT- YTD
Jefferies highlighted Riot’s Corsicana-powered land lease, which it estimates will generate an average yield of roughly 33%. Jefferies estimates capital expenditure of approximately $6 million per megawatt of IT capacity, compared with $11 million to $15 million for a typical data-center build.
Corsicana alone could be worth approximately $16 per Riot share, according to analysts.
— Deena Zaidi
Sanmina surges after guidance tops estimates
Sanmina soared 19% after the electronic manufacturing services provider rolled out an outlook that came in ahead of the Street’s expectations.
The company sees full-year earnings in a range of $15.50 to $17.50 per share, topping the FactSet consensus estimate of $14.07 a share. The company’s revenue forecast of $17.5 billion to $19.5 billion also came in ahead of the $16.61 billion consensus estimate.
SANM year to date
—Darla Mercado
Take-Two Interactive rises on earnings beat
Take-Two Interactive Software traded 4% higher after its fiscal second-quarter earnings and revenue beat analyst expectations. Adjusted earnings per share came in at $1 on revenue of $1.60 billion. Analysts polled by LSEG expected a profit of 94 cents per share on revenue of $1.58 billion.
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— Fred Imbert
Hims & Hers Health slips on disappointing guidance
Shares of Hims & Hers Health fell 2% after the company issued weaker-than-expected guidance for the fourth quarter.
The company expects revenue in a range of $875 million to $895 million, well below a FactSet consensus of $953.8 million. Adjusted EBITDA guidance ranges between $70 million and $90 million, also below an estimate of $105.8 million.
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— Fred Imbert
Securitize rallies on Q3 results, move into asset-backed finance
Tokenization platform Securitize climbed about 10% after reporting third quarter growth alongside increased operating expenses, and announcing an expansion into asset-backed finance through a strategic acquisition.
Miami-based Securitize, which made its public market debut in July, operates in the relatively new corner of the crypto equity universe involved in institutional tokenization infrastructure. Tokenized assets on the platform grew 9% in the third quarter, to $4.8 billion, from the same period a year ago. Aggregate transaction volume rose 20% from a year ago, to $4.3 billion. Revenue of $11.5 million was up 28% from last year.
Also on Monday, the Securitize board authorized a $50 million share buyback and announced the acquisition of River One, an institutional asset-backed financing platform developing technology to connect stablecoin capital with traditional lending markets. Terms were not disclosed.
Read the full story and watch our exclusive interview with Securitize CEO Carlos Domingo here.
— Tanaya Macheel
