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Disney reduces ticket prices for children due to attendance slump. Amazon discontinues its live-audio app, Amp. US government to stop free distribution of Merck's COVID-19 pill. UK regulators investigate Amazon and Microsoft's dominance in cloud computing. Dell to update its long-term financial framework. Dover acquires FW Murphy for $530M. Constellation Brands reports Q2 net sales growth of 7%. Polestar Automotive reports Q3 delivery growth of 50%. VinFast Auto reports Q3 revenues of $342.66 million. Clorox shares fall after reporting preliminary Q1 FY24 financial results. ConAgra Brands reports flat Q1 FY24 sales. Buckle Inc reports 11.1% drop in comparable store sales for September.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 2:01 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares fell after the company announced a $1.5 billion proposed green convertible senior notes offering and provided preliminary third-quarter revenue estimates. The EV maker expects revenue to be in the range of $1.29 billion to $1.33 billion, more than double the revenue from the third quarter of 2022, primarily due to higher deliveries. The company is set to report its third-quarter financial results on Nov. 7.

Portfolio Pulse from Adam Eckert

October 05, 2023 | 1:46 pm

CMBM

NBTX

ORTX

VINO

WNW

U.S. stocks traded lower following the release of economic reports. The Dow, NASDAQ, and S&P 500 all fell. U.S. initial jobless claims rose by 2,000 to 207,000. Orchard Therapeutics, Meiwu Technology, and SP Plus Corporation saw significant stock increases, while Cambium Networks, Gaucho Group Holdings, and Nanobiotix experienced drops. The U.S. trade gap shrank to $58.3 billion in August, the lowest since Sept. 2020.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 1:44 pm

CAG

ConAgra Brands Inc reported Q1 FY24 sales of $2.90 billion, missing the consensus of $2.95 billion. Organic sales fell 0.3% Y/Y in Q1, led by a 6.6% Y/Y decline in volume. Adjusted EPS increased 15.8% to $0.66, beating the consensus of $0.60. The company reaffirmed FY24 organic net sales growth of 1% and adjusted EPS of $2.70-$2.75. CAG shares are trading higher by 0.62% at $26.69.

Portfolio Pulse from Lekha Gupta

October 05, 2023 | 1:37 pm

AYI

Acuity Brands, Inc. (NYSE:AYI) reported better-than-expected quarterly earnings, with an adjusted EPS of $3.97, beating the consensus of $3.72. However, the company's net sales declined by 9% YoY to $1.01 billion, slightly missing the consensus of $1.02 billion. The company's dividend yield is currently at 0.29%, with a quarterly dividend amount of 13 cents a share. The article also explains how an investor can earn a monthly income from Acuity Brands' dividends.

Portfolio Pulse from Priya Nigam

October 05, 2023 | 1:36 pm

CMBM

Cambium Networks Corp (NASDAQ:CMBM) shares dropped by 36.5% after the company announced a cut in its Q3 revenue outlook from $62-$70 million to $40-$45 million. The company cited delayed government orders, slow sector growth, reduced orders, and economic challenges in EMEA as reasons for the cut. The company's full-year 2023 guidance is suspended. Despite lower reported revenues, point-of-sale revenues are up, suggesting reduced channel inventories. The company also has about $27 million in cash and a $45 million unused credit line.

Portfolio Pulse from Henry Khederian

October 05, 2023 | 1:21 pm

BKE

Specialty retailer Buckle Inc (NYSE:BKE) reported an 11.1% YoY drop in comparable store net sales for September 2023. The company's net sales for the month also declined by 10.7% YoY to $103.1 million. For the 35-week period ending September 30, 2023, comparable store net sales decreased by 6.8% and net sales totaled $790.9 million, a decrease of 6.4% Y/Y.

Portfolio Pulse from Akanksha Bakshi

October 05, 2023 | 1:17 pm

SOFI

SoFi Technologies Inc's shares are trading slightly lower. The company's subsidiary, Galileo Financial Technologies, announced its Buy Now, Pay Later offering can now be offered by lenders as an option for small business clients. This is part of its partnership with Mastercard. Jim Cramer on CNBC's 'Mad Money' recommended buying and holding SoFi shares. SoFi is set to report its third-quarter financial results this week.

Portfolio Pulse from Adam Eckert

October 05, 2023 | 1:06 pm

CAG

Conagra Brands expects a low-single digit decline in organic net sales for Q2, due to volume declines and inflation-driven pricing actions. Gross and operating margins are also expected to be lower than Q1 due to increased trade and A&P investment. However, the company anticipates low-single digit organic net sales growth in the second half of the year, driven by volume growth.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:59 pm

CMBM

Cambium Networks has revised its Q3 revenue outlook downwards to $40-$45 million from the previous estimate of $62-$70 million. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:58 pm