Latest news for  (OTC:RSCBS) Stock

Clean energy company Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) is behind the first vehicle-to-home power plant in the nation, using customer <a href="https://www.benzinga.com/electric-vehicles">owned electric vehicles.</a>
What Happened: In an effort to alleviate demand on the electrical grid, Sunrun is utilizing F-150 Lightning electric pickup trucks owned by its energy customers for this innovative power plant.
The <a href="https://investors.sunrun.com/news-events/press-releases/detail/318/sunrun-launches-nations-first-vehicle-to-home-grid">partnership </a>includes Sunrun, Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and Baltimore Gas and Electric Company (BGE), which is a subsidiary of Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>). BGE is the largest utility in Maryland, where the vehicle-to-home power plant operation takes place.
The power plant uses a small group of customer-owned bidirectional electric vehicles, which are all F-150 Lightning vehicles. The power from the trucks helps power homes during the peak demand times in the summer months to help Maryland's power grid.
Three Sunrun customers are currently part of the operation. The customers' F-150 Lightning trucks are sharing stored energy from 5 p.m. to 9 p.m. on weekdays from June 1 to Sept. 30, as part of the program. The customers will earn an estimated $800 a month for the four months in the program.
"This program is the first operational bidirectional electric vehicle power plant in the United States that uses a cohort of customer vehicles," a press release reads.
Read Also: <a href="https://www.benzinga.com/news/24/07/39783196/will-electric-vehicles-reach-50-market-share-in-us-by-2030-new-data-says-yes">Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes</a>
 Why It's Important: BGE received grant funding from the Department of Energy to create the virtual power plant. The utility company partnered with Sunrun to develop the program.
"This program is a significant proof of concept – no other market layer has done this – and the goal is to expand these programs all around the country," Sunrun CEO Mary Powell said. "This exciting partnership lays the foundation for the power grid of the future where electric vehicle owners can contribute to grid resiliency and utility price stability for everyone."
The new program is met to show that electric vehicles can reduce demand on the power grid.
"Partnering with Sunrun will allow BGE to unlock and learn the potential of how vehicle-to-grid programs will support increasing grid efficiency and reliability with distributed energy resources, while providing a valuable new benefit to customers," BGE Vice President of Regulatory Policy and Strategy Mark Case said.
Sunrun has <a href="https://www.benzinga.com/news/21/05/21214974/sunrun-shares-rise-on-ford-f-150-lightning-partnership-what-investors-should-know">worked with Ford Motor Company,</a> the company behind the F-150 Lightning truck, previously. The companies partnered for Sunrun to be the preferred installer for Ford Intelligent Backup Power, the first commercially available bidirectional system in the U.S.
"The ability of Ford's F-150 Lightning to support the electric grid and generate revenue for the owner while parked at home is a game-changing moment for electric vehicles in Maryland and nationwide as other manufacturers will follow," Maryland state delegate David Fraser-Hidalgo said.
Electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen a boost to its Tesla Energy segment, with second-quarter results hitting a record for revenue and gross profits for the segment. Tesla deployed 9.4 GWh of energy storage in <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">the second quarter.</a>
Tesla is another company <a href="https://www.benzinga.com/news/23/03/31387298/a-house-equipped-with-tesla-solar-roof-earns-350-a-month-for-owner">working to highlight</a> the benefits of virtual power plants and using electric vehicles for energy generation to save on costs and provide power during blackouts and natural disasters. 
The benefits of owning an electric vehicle and its ability to help with energy generation could be a future catalyst for the sector.
RUN Price Action: Sunrun shares are up 2.5% to $16.74 on Tuesday, versus a 52-week trading range of $8.43 to $22.16. Sunrun shares are up 45% over the last month.
Read Next: 
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</ul>
Image created using artificial intelligence via Midjourney.

Trading Ideas

TSLA

Sunrun Launches Nation's First Vehicle-To-Home Power Plant With Ford's Help To Revolutionize The Grid

News

Guidance

O-I Glass Lowers FY24 Adjusted EPS Guidance to $1.00-$1.25 vs $1.69 Est. (Prior $1.50-$2.00), Lowers FY24 Free Cash Flow Guidance to $50M-$100M From Prior $100M-$150M

Earnings

Unum Group Raises FY2024 Outlook; Increases After-Tax Adjusted Operating Income Per Share Growth Expectation From 7%-9% To 10%-15% Due To Strong First Half Performance

– PGN-EDO51 at 5 mg/kg was well tolerated, and all patients continued to long-term extension portion of trial. Dosing of second cohort at 10 mg/kg is ongoing –
– Four doses of PGN-EDO51 at 5 mg/kg achieved mean exon skipping levels of 2.15% after three months of dosing –
– PGN-EDO51 at 5 mg/kg showed mean muscle-adjusted dystrophin level of 1.49%, a 0.70% increase from baseline, after three months of dosing –
– PGN-EDO51 at 5 mg/kg showed mean absolute dystrophin level of 0.61%, a 0.26% increase from baseline, after three months of dosing –
– Conference call scheduled for 4:30 p.m. ET –
PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>), a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases, today announced positive clinical data from the first dose cohort (5 mg/kg) of PGN-EDO51, its lead investigational candidate for patients with Duchenne muscular dystrophy (DMD) whose mutations are amenable to an exon 51-skipping approach. In the ongoing CONNECT1-EDO51 Phase 2 open-label trial, PGN-EDO51 demonstrated higher levels of exon skipping than previously reported studies with other oligonucleotide therapies at similar PMO dose levels in DMD patients. The Company also reported that change from baseline in total dystrophin production and muscle-adjusted dystrophin production was comparable to, or higher than, previously reported studies with other oligonucleotide therapies at similar PMO dose levels in DMD patients. Today at 4:30 p.m. ET, the Company will host a conference call with the CONNECT1 lead investigator Dr. Hugh McMillan to discuss the data being presented.

Biotech

General

PEPG

PepGen Shares Data From Low-Dose Cohort Of PGN-EDO51 In Ongoing CONNECT1-EDO51 Phase 2 Clinical Trial For Treatment Of Duchenne Muscular Dystrophy; Says Was Well Tolerated, And All Patients Continued To Long-Term Extension Portion Of Trial. Dosing Of Second Cohort At 10 mg/kg Is Ongoing

Electronic Arts Sees FY25 Net Revenue $7.1B-$7.5B

Western Union Reiterates Full Year 2024 Outlook; Adjusted 	EPS Of $1.70 - $1.80, Est $1.77

First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) reported better-than-expected second-quarter financial results Tuesday. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/24/07/b40049680/first-solar-inc-announces-second-quarter-2024-financial-results">figures from the report. </a>
The Details: Quarterly sales came in at $1.01 billion, which beat the analyst consensus estimate of $941.54 million by 7.27% and represents a 24.59% increase over sales from the same period last year. 
First Solar said the increase was primarily driven by an increase in the volume of modules sold and an increase in the average selling price per watt of its modules.
First Solar also reported quarterly earnings of $3.25 per share, which beat the analyst consensus estimate of $2.72 by 19.49%.
Cash, cash equivalents, restricted cash, restricted cash equivalents and marketable securities, less debt at the end of the second quarter, decreased to $1.2 billion from $1.4 billion at the end of the prior quarter. The decrease was primarily a result of capital expenditures associated with the company&#8217;s new U.S. factories in Alabama and Louisiana along with the repayment of working capital loans in India, partially offset by increased operating cash flows from its modules business.
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&#8220;We are pleased with our financial and operational execution through the first half of this year as we continue to deliver on our commitments,&#8221; said Mark Widmar, CEO of First Solar. &#8220;Our balanced approach to growth, profitability, and liquidity, combined with multiple technological and business model points of differentiation is enabling us to deliver value for both our customers and our shareholders.&#8221;
Outlook:  First Solar reiterated its fiscal year guidance for earnings of $13.00 to $14.00 per share and net sales of $4.4 billion to $4.6 billion.
FSLR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, First Solar shares are up 1.43% after-hours at $213.90 at the time of publication Tuesday.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40022763/lattice-semiconductor-stock-falls-on-worse-than-expected-q2-results">Lattice Semiconductor Stock Falls On Worse-Than-Expected Q2 Results</a></li>
</ul>
Image generated using artificial intelligence via MidJourney. &nbsp;

After-Hours Center

Movers

FSLR

First Solar Reports Strong Q2 Results: EPS Beat, Sales Up 24%

Unum Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>) reported quarterly earnings of $2.16 per share which beat the analyst consensus estimate of $2.02 by 6.93 percent. The company reported quarterly sales of $3.23 billion which met the analyst consensus estimate. This is a 3.89 percent increase over sales of $3.11 billion the same period last year.

Earnings Beats

Unum Gr Q2 2024 Adj EPS $2.16 Beats $2.02 Estimate, Sales $3.23B Inline

Atomera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOM#NASDAQ">ATOM</a>) reported quarterly losses of $(0.16) per share which missed the analyst consensus estimate of $(0.15) by 6.67 percent. This is a 23.81 percent increase over losses of $(0.21) per share from the same period last year. The company reported quarterly sales of $72.000 thousand which missed the analyst consensus estimate of $100.000 thousand by 28.00 percent.

Earnings Misses

ATOM

Atomera Q2 2024 GAAP EPS $(0.16) Misses $(0.15) Estimate, Sales $72.000K Miss $100.000K Estimate

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) reported quarterly earnings of $0.44 per share which met the analyst consensus estimate. The company reported quarterly sales of $1.700 billion which missed the analyst consensus estimate of $1.784 billion by 4.73 percent. This is a 10.05 percent decrease over sales of $1.890 billion the same period last year.

O-I Glass Q2 2024 GAAP EPS $0.44, Inline, Sales $1.700B Miss $1.784B Estimate

MDLZ

Mondelēz Expects FY24 Organic Net Revenue Growth To Be At Upper End Of 3% - 5% And High Single-digit Adjusted EPS Growth On Constant Currency Basis

Technology giant Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported fourth-quarter financial results after the <a href="https://www.benzinga.com/earnings">market close Tuesday.</a>
Here are the key highlights.
What Happened: Microsoft reported fourth-quarter revenue of $64.7 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $64.36 billion, according to data <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>
The company reported earnings per share of $2.95 in the fourth quarter, beating a Street consensus estimate of $2.92.
Intelligent Cloud segment revenue was $28.5 billion, up 19% year-over-year. Within the segment, server products and cloud services revenue was up 21% year-over-year. Azure and other cloud services revenue posted year-over-year growth of 29% in the segment.
The Azure growth missed expectations, according to Reuters, sending Microsoft stock lower in after-hours trading Tuesday.
Revenue in the Productivity and Business Processes segment was $20.3 billion, up 11% year-over-year. Office Commercial products and cloud services revenue in the segment were up 12% year-over-year with Office 365 Commercial revenue growth of 13% year-over-year. Office Consumer products and cloud services revenue was up 3% year-over-year.
The company said Microsoft 365 Consumer subscribers grew to 82.5 million.
LinkedIn revenue was up 10% year-over-year in the fourth quarter.
The company's Dynamics products and clouds services revenue was up 16% year-over-year.
Revenue in the More Personal Computing segment revenue totaled $15.9 billion in the fourth quarter, up 14% year-over-year. The segment was led by Windows revenue, up 7% year-over-year, and Windows Commercial products and cloud services revenue growth of 11% year-over-year. Xbox content and services revenue was up 61% year-over-year in the segment thanks to the net impact of the Activision Blizzard acquisition.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40025343/microsoft-q4-earnings-preview-analyst-says-stock-still-has-yet-to-fully-price-in-next-wave-of-cloud">Microsoft Q4 Earnings Preview: Analyst Says &#8216;Stock Still Has Yet To Fully Price In &#8230; Next Wave Of Cloud And AI Growth&#8217;</a>
"Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," Microsoft CEO Satya Nadella said. 
"As a platform company, we are focused on meeting the mission-critical needs of our customers across our at-scale platforms today, while also ensuring we lead the AI era."
The company said it returned $8.4 billion to shareholders in the fourth quarter via share buybacks and dividends.
Microsoft reported record bookings and Microsoft Cloud quarterly revenue of $36.8 billion, up 21% year-over-year.
For the full fiscal year, Microsoft reported revenue of $245.1 billion, up 16% year-over-year. Full year earnings per share were $11.80, up 22% year-over-year.
What's Next: Microsoft will host a conference call and webcast that can be viewed below. The company said it will provide forward-looking guidance during the conference call.
MSFT Price Action: Microsoft shares are down 6% to $395.02 in after-hours trading Tuesday versus a 52-week trading range of $309.45 to $468.35.
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</ul>
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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Microsoft Q4 2024 Earnings Call &#x7C; $MSFT" width="500" height="281" src="https://www.youtube.com/embed/Cb_WyMkkhBQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<figcaption class="wp-element-caption"> Photo via Shutterstock.</figcaption></figure>

Tech

MSFT

Microsoft Q4 Earnings Highlights: Revenue Beat, EPS Beat, Cloud Revenue Up 21% YoY, 'Ensuring We Lead The AI Era'

UMB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UMBF#NASDAQ">UMBF</a>) reported quarterly earnings of $2.16 per share which beat the analyst consensus estimate of $2.01 by 7.46 percent. The company reported quarterly sales of $390.027 million which beat the analyst consensus estimate of $384.937 million by 1.32 percent. This is a 7.24 percent increase over sales of $363.693 million the same period last year.

UMBF

UMB Financial Q2 2024 Adj. EPS $2.16 Beats $2.01 Estimate, Sales $390.027M Beat $384.937M Estimate

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) reported quarterly sales of $4.51 billion which missed the analyst consensus estimate of $4.57 billion by 1.32 percent. This is a 16.61 percent increase over sales of $3.87 billion the same period last year.

Ternium Q2 Sales $4.51B Miss $4.57B Estimate

Ashford Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.13 by 107.69 percent. The company reported quarterly sales of $316.482 million which beat the analyst consensus estimate of $308.900 million by 2.45 percent. This is a 15.77 percent decrease over sales of $375.749 million the same period last year.

Ashford Hospitality Trust Q2 2024 FFO $0.27 Beats $0.13 Estimate, Sales $316.482M Beat $308.900M Estimate

Canadian Pacific Kansas Q2 2024 Adj EPS C$1.05, Sales C$3.600B

DBV Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBVT#NASDAQ">DBVT</a>) reported quarterly losses of $(0.34) per share which beat the analyst consensus estimate of $(0.45) by 24.44 percent. This is a 30.77 percent decrease over losses of $(0.26) per share from the same period last year. The company reported quarterly sales of $1.16 million which missed the analyst consensus estimate of $1.68 million by 30.89 percent. This is a 49.52 percent decrease over sales of $2.30 million the same period last year.

DBVT

DBV Technologies Q2 EPS $(0.34) Beats $(0.45) Estimate, Sales $1.16M Miss $1.68M Estimate

&nbsp;This dividend is payable on October 14, 2024, to shareholders of record as of September 30, 2024.

Dividends

Mondelēz Boosts Quarterly Dividend By 11% From $0.425 To $0.47 Per Share

Benchmark Sees Q3 2024 Revenue $630M-$670M Vs $635M Estimate, Sees Adj. EPS $0.52-$0.58 Vs $0.51 Estimate

<ul>
<li>TX45 is an Fc-relaxin fusion protein being evaluated in patients with Group 2 Pulmonary Hypertension (PH) due to Heart Failure with Preserved Ejection Fraction (HFpEF), a serious condition estimated to affect over 600,000 people in the U.S. alone, currently with no approved therapies &nbsp;</li>
<li>Planned initiation of global, 24-week Phase 2 clinical trial to evaluate TX45 administered subcutaneously in subjects with Group 2 PH due to HFpEF (PH-HFpEF) in the third quarter of 2024, with topline trial results expected in 2026 &nbsp;</li>
<li>Phase 1a topline trial results of TX45 in healthy volunteers are expected to be released this September, with detailed data to be subsequently presented at a scientific meeting &nbsp;</li>
<li>Phase 1b hemodynamic trial evaluating single doses of TX45 in subjects with Group 2 PH-HFpEF continues to enroll as planned, with topline study results expected in mid-2025 &nbsp;</li>
</ul>
WATERTOWN, Mass., July 30, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=ah9gI2fSvR0kOQIKijh3A2neP4cQrkBQtvwv9CwYafR2mfgaDx9GnMFIq1hDdho03VW7_NMktC9lfGo9_14BHFkrjyux2di6a6kh0r5-t9M=">Tectonic Therapeutic, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECX#NASDAQ">TECX</a>) (Tectonic), a clinical stage biotechnology company focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors (GPCRs), today announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for TX45, an Fc-relaxin fusion protein being evaluated for the treatment of patients with Group 2 PH-HFpEF. TX45 aims to address the physiological abnormalities of PH-HFpEF through its effects on both pulmonary and systemic vasodilation, cardiac diastolic dysfunction and potential remodeling in both the pulmonary vessels and cardiac muscle, which could translate into a clinically meaningful improvement in exercise capacity in these patients.

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