Enel Group Details Financial Targets Under 2024-2026 Strategic Plan

The Enel Group (ENLAY.PK) said, in the 2024-2026 Plan period, the Group expects to focus on: profitability, flexibility and resiliency through selective capital allocation to maximize Group risk/return profile. The Group expects net ordinary income to increase to between 7.1 and 7.3 billion euros in 2026, with a CAGR of around 6%. The Group expects 2023 net ordinary income at 6.4-6.7 billion euros.

The Group expects ordinary EBITDA to grow to between 23.6 and 24.3 billion euros in 2026, with a CAGR of around 5%. The Group expects 2023 ordinary EBITDA at 21.5-22.5 billion euros.

Between 2024 and 2026, Enel Group has planned a total gross capex of approximately 35.8 billion euros. The Group said investments are set to require a lower cash-out flow, with net capex expected to amount to approximately 26.2 billion euros.

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Speedy Hire H1 Adj. Pretax Profit Declines; Revenue Down 2.9%

Speedy Hire Plc (SDY.L) reported that first half profit before tax was 5.6 million pounds compared to 13.2 million pounds, last year. Earnings per share was 0.91 pence compared to 2.07 pence. Adjusted profit before tax was 5.9 million pounds, down 56.0% from last year. Adjusted earnings per share was 0.97 pence compared to 2.13 pence. First half revenue declined to 208.5 million pounds from 214.8 million pounds, previous year.

The Board has declared an interim dividend of 0.80 pence per share, to be paid on 19 January 2024 to shareholders on the register on 8 December 2023.

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ATRenew Inc. Q3 Earnings Summary

Below are the earnings highlights for ATRenew Inc. (RERE):

Earnings: -RMB44.188 million in Q3 vs. -RMB30.090 million in the same period last year.
EPS: -RMB0.27 in Q3 vs. -RMB0.19 in the same period last year.
Excluding items, ATRenew Inc. reported adjusted earnings of RMB47.643 million or RMB0.29 per share for the period.

Revenue: RMB3.256 billion in Q3 vs. RMB2.536 billion in the same period last year.

-Guidance:
Next quarter revenue guidance: RMB3.730-RMB3.830Bln

Gold Climbs Above $2,000 Level Despite Hawkish Fed Minutes

Gold prices rose above the crucial $2,000 per ounce level on Wednesday despite the modestly hawkish tone of the FOMC minutes and easing Middle East tensions.

Spot gold edged up 0.2 percent to $2,002.58 per ounce, while U.S. gold futures were up 0.1 percent at $2,003.40.

Hamas and Israel have agreed to a Qatar-mediated pause in fighting, helping ease Middle East tensions.

The deal includes the release of 150 Palestinian prisoners held in Israeli jails in exchange for 50 people held captive by Hamas in Gaza since the armed group that rules the enclave stormed southern Israel on October 7.

The U.S. dollar recovered from 2-1/2-month low but remained near recent lows after the FOMC (Federal Open Market Committee) meeting minutes largely reaffirmed the U.S. central bank’s more cautious stance on interest rates.

Minutes from the Fed’s last rate-setting meeting showed officials expect to keep interest rates at a restrictive level for “sometime” and raise interest rates if progress in controlling inflation faltered.

Treasury yields traded mixed due to deteriorating outlook in the U.S. and the euro area.

In economic releases, U.S. reports on durable goods orders and weekly jobless claims are due later in the day.

Jiayin Group Inc. Profit Advances In Q3

Jiayin Group Inc. (JFIN) announced earnings for its third quarter that increased from last year

The company’s bottom line came in at RMB323.793 million, or RMB1.51 per share. This compares with RMB248.140 million, or RMB1.15 per share, in last year’s third quarter.

The company’s revenue for the quarter rose 63.9% to RMB1.466 billion from RMB894.295 million last year.

Jiayin Group Inc. earnings at a glance (GAAP) :

-Earnings (Q3): RMB323.793 Mln. vs. RMB248.140 Mln. last year.
-EPS (Q3): RMB1.51 vs. RMB1.15 last year.
-Revenue (Q3): RMB1.466 Bln vs. RMB894.295 Mln last year.

Pre-market Movers: SLDB, GDEV, CRMD, MYTE, TIVC…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 06.40 A.M. ET).

In the Green

Solid Biosciences Inc. (SLDB) is up over 27% at $2.71.
GDEV Inc. (GDEV) is up over 22% at $3.32.
CorMedix Inc. (CRMD) is up over 16% at $3.64.
MYT Netherlands Parent B.V. (MYTE) is up over 13% at $2.33.
American Resources Corporation (AREC) is up over 10% at $1.36.
Jaguar Global Growth Corporation I (JGGC) is up over 6% at $7.55.
Dada Nexus Limited (DADA) is up over 6% at $4.00.
SunPower Corporation (SPWR) is up over 5% at $4.65.
NaaS Technology Inc. (NAAS) is up over 5% at $2.70.
FlexShopper, Inc. (FPAY) is up over 5% at $1.05.

In the Red

Tivic Health Systems, Inc. (TIVC) is down over 12% at $1.90.
Ispire Technology Inc. (ISPR) is down over 10% at $14.62.
Momentus Inc. (MNTS) is down over 9% at $3.25.
Danimer Scientific, Inc. (DNMR) is down over 7% at $1.54.
Aquestive Therapeutics, Inc. (AQST) is down over 7% at $1.50.
Energizer Holdings, Inc. (ENR) is down over 6% at $33.83.
Absci Corporation (ABSI) is down over 6% at $1.31.

Gaotu Techedu Expects Q4 Revenue To Improve- Update

Gaotu Techedu Inc. (GOTU), a Chinese technology-driven education service provider, said in its third-quarter 2023 financial report on Wednesday that it expects a rise in fourth-quarter revenue.

For the fourth-quarter of 2023, the company expects to register revenue of RMB 668 million to RMB 688 million, representing an increase of 6.1 percent to 9.3 percent on a year-over-year basis.

For the third-quarter of 2023, the company posted loss per American Depositary Share or ADS of RMB 0.22, compared with loss of RMB 0.24 per ADS, posted for the same period last year.

Excluding items, for the third-quarter of 2023, Gaotu Techedu recorded loss of RMB 41.729 million, compared with loss of RMB 44.754 million a year ago.