Virtus Real Asset Income ETF (ARCA: VRAI)

Latest news for Virtus Real Asset Income ETF (ARCA:VRAI)

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Under normal market conditions, the fund will invest not less than 80% of its assets in component securities of the underlying index. The underlying index is designed to track the performance of U.S.-listed Real Asset companies, as defined by Indxx, LLC. The underlying index includes common stock, real estate investment trusts, master limited partnerships, American depositary receipts and global depositary receipts. The fund is non-diversified.

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VRAI

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Enovix Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) shares are trading higher in Wednesday&#8217;s after-hours session after the company reported better-than-expected results for the second quarter and <a href="https://www.benzinga.com/pressreleases/24/07/g40080434/enovix-signs-mou-with-global-high-performance-automotive-oem">announced new collaborations</a>.
<ul>
<li>Q2 Revenue: $3.768 million, versus estimates of $3.693 million</li>
</ul>
<ul>
<li>Q2 EPS: Loss of 14 cents, versus estimates for loss of 23 cents</li>
</ul>
Enovix said it began producing its first batteries in Malaysia and demonstrated strong commercial progress with a handful of leading customers during the quarter. The company now expects &#8220;significant revenue growth&#8221; from the first half of 2024 to the second half of 2024.
Enovix said it ended the second quarter with&nbsp;$249.9 million&nbsp;in cash, cash equivalents and short-term investments.
Outlook: Enovix expects third-quarter revenue to be in the range of $3.5 million to $4.5 million. The company anticipates a third-quarter adjusted loss of 17 cents to 23 cents per share.
&#8220;We made substantial progress in the&nbsp;second quarter&nbsp;of 2024 as Fab2 went operational, and we took actions to lengthen our runway while striking agreements with multiple leading customers. We are focused on continuing this strong execution and look forward to initiating multiple customer qualifications in the second half of the year,&#8221; the company said.
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40081701/meta-platforms-q2-earnings-revenue-beat-eps-beat-strong-guidance-meta-ai-is-on-track-to-be-the-most">Meta Platforms Q2 Earnings: Revenue Beat, EPS Beat, Strong Guidance — &#8216;Meta AI Is On Track To Be The Most Used AI Assistant In The World&#8217;</a>
What Else: Enovix announced it signed a <a href="https://www.benzinga.com/pressreleases/24/07/g40080438/enovix-signs-collaboration-agreement-with-fortune-200-company">collaboration agreement</a> with a Fortune 200 company to provide silicon batteries for the IoT product category. The company is set to receive milestone payments associated with building and testing prototype batteries for this IoT device along a path toward mass production.
Enovix also <a href="https://www.benzinga.com/pressreleases/24/07/g40080434/enovix-signs-mou-with-global-high-performance-automotive-oem">announced</a> it signed a Memorandum of Understanding (MOU) with a high-performance, global automotive OEM aimed at scaling the Enovix cell architecture for the EV market.
&#8220;While our immediate focus is on advancing battery technology for consumer electronics, our vision extends to the EV market where our unique architecture is well-suited to enable next generation materials to drive performance improvements,&#8221; said Raj Talluri, president and CEO of Enovix. 
ENVX Price Action: Enovix shares were up 11.10% in after-hours, trading at $16.01 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Dean Simone from Pixabay.

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ENVX

Enovix Stock Is Rising After The Bell: What's Going On?

For the&nbsp;third quarter&nbsp;of 2024, it expects adjusted EBITDA to range from&nbsp;$0M&nbsp;to&nbsp;$5M, or a margin of&nbsp;0.0%&nbsp;to&nbsp;6.8%.

Guidance

LPSN

LivePerson Expects Q3 Total Revenue Of $69M - $73M Or (32)% To (28)% Y/Y, Est $73.8M

MRAM

Everspin Technologies Sees Q3 EPS $(0.10)-$(0.05) Vs $(0.12) Est.; Revenue $11.5M-$12.5M Vs $10.65M Est.

Employers Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIG#NYSE">EIG</a>) reported quarterly earnings of $1.10 per share which beat the analyst consensus estimate of $1.08 by 1.85 percent. This is a 5.98 percent decrease over earnings of $1.17 per share from the same period last year. The company reported quarterly sales of $217.000 million which missed the analyst consensus estimate of $223.820 million by 3.05 percent. This is a 0.84 percent increase over sales of $215.200 million the same period last year.

Earnings Beats

Earnings Misses

Employers Holdings Q2 2024 Adj. EPS $1.10 Beats $1.08 Estimate, Sales $217.000M Miss $223.820M Estimate

MISTRAS Reaffirms FY24 Guidance For Revenue Of $725M - $750M, Est $746.335M

VSEC

VSE Corporation Reaffirms FY24 Revenue Growth Guidance

Westwood Holdings Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHG#NYSE">WHG</a>) reported $22.70 million in sales this quarter. This is a 3.44 percent increase over sales of $21.95 million the same period last year.

Westwood Holdings Gr Q2 Sales $22.70M Up From $21.95M YoY

Buybacks

RenaissanceRe Announces Quarterly Dividend Of $0.39 Per Share, Payable September 30, 2024, To Shareholders Of Record On September 13, 2024; Board Approves Renewal Of $500M Share Repurchase Program

MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) reported its second-quarter financial results Wednesday. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/07/n40081327/mgm-resorts-international-reports-second-quarter-2024-financial-and-operating-results">details from the report. </a>
The Details: MGM Resorts reported quarterly earnings of 86 cents per share, which beat the analyst consensus estimate of 62 cents by 38.71%.
Quarterly sales clocked in at $4.3 billion, which beat the analyst consensus estimate of $4.22 billion and represents a 9.08% increase from the same period last year.
Las Vegas strip resorts net revenues were $2.2 billion, an increase of 3% year-over-year, due primarily to an increase in rooms revenue, driven by an increase in ADR, and an increase in catering and banquets revenue. 
China MGM net revenues were $1 billion in the current quarter, an increase of 37% year-over-year. The current quarter was positively affected by the continued ramp-up of operations after the removal of COVID-19-related travel and entry restrictions in the first quarter of 2023. Regional operations net revenues were $927 million in the current quarter and flat compared to the prior-year quarter.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40076709/whats-going-on-with-sofi-stock-after-earnings">What&#8217;s Going On With SoFi Stock After Earnings?</a>
&#8220;MGM Resorts continued to drive positive financial results and solid growth in the second quarter, with record MGM China Adjusted Property EBITDAR and further growth in Las Vegas where our Marriott relationship continues to exceed expectations and our meetings and convention business continues to strengthen thanks to our recently completed remodel of Mandalay Bay,&#8221; said Bill Hornbuckle, CEO of MGM Resorts International.
MGM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, MGM Resorts International shares are down 4% after-hours at $41.25 at the time of publication Wednesday.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">Match Group Stock Climbs On Strong Q2 Results, Hinge Revenue Up 48%</a></li>
</ul>
Image: Csaba Nagy from Pixabay

After-Hours Center

MGM Resorts Reports Better-Than-Expected Q2 Results, Record Net Revenues

Carriage Services Sees 2024 Adj. EPS $2.30-$2.40 vs $2.27 Est., Total Revenue $390M-$400M vs $386.1M Est.

Magnachip Now Expects FY24 Consolidated Revenue Flattish-To-Slightly Down, Compared To Prior Expectation Of Flat-To-Up-slightly Y/Y

Braemar Hotels &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHR#NYSE">BHR</a>) reported quarterly earnings of $0.10 per share which missed the analyst consensus estimate of $0.14 by 28.57 percent. This is a 50 percent decrease over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $187.587 million which beat the analyst consensus estimate of $185.095 million by 1.35 percent. This is a 0.47 percent increase over sales of $186.707 million the same period last year.

Braemar Hotels & Resorts Q2 2024 FFO $0.10 Misses $0.14 Estimate, Sales $187.587M Beat $185.095M Estimate

LRCX

Lam Research Extends Leadership In 3D NAND Flash Memory Etching With Introduction Of Lam Cryo 3.0; New Technology Enhances Etch Capabilities For Future High-Capacity Memory Demand Driven By AI Proliferation

Magnachip Expects Q3 Consolidated Revenue Of $61.5M - $66.5M, Est $62.5M

LUNG

Pulmonx Continues To Expect FY24 Revenue $81M-$84M

MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly losses of $(0.91) per share which missed the analyst consensus estimate of $1.13 by 180.53 percent. The company reported quarterly sales of $828.890 million which missed the analyst consensus estimate of $876.070 million by 5.39 percent. This is a 6.72 percent decrease over sales of $888.616 million the same period last year.

MYRG

MYR Group Q2 2024 GAAP EPS $(0.91) Misses $1.13 Estimate, Sales $828.890M Miss $876.070M Estimate

WIIM

Magnachip Semiconductor shares are trading higher after the company reported better-than-expected Q2 financial results.

Bogota Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSBK#NASDAQ">BSBK</a>) reported quarterly losses of $(0.03) per share. This is a 142.86 percent decrease over earnings of $0.07 per share from the same period last year.

BSBK

Bogota Finl Q2 EPS $(0.03) Down From $0.07 YoY

KXIN

Kaixin Holdings shares are trading higher after the company announced it received a non-compliance notification from the Nasdaq.

Jianzhi Education Technology Receives Nasdaq Non-Compliance Notice For Minimum Market Value Requirement; Company Fails To Meet $5M Market Value Rule Over 30 Consecutive Business Days

Market Myths: Data-Driven Insights On The Bearish Engulfing Pattern (Technical Analysis)

Quarterly Trading Report - Q2 2024: A Rising Tide Doesn't Always Lift All Boats

Equity Investing For A New Era: The Return Of Alpha

S&P 500 Earnings: Capex Is Not Earnings; Tech Revisions Still Positive

Soft Landing Secured

Impulse Moves And Market Patterns: A Real-Time S&P 500 Example (Technical Analysis)

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Virtus Real Asset Income ETF

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Latest news for Virtus Real Asset Income ETF (ARCA:VRAI)

Tuesday, March 05, 2019