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Earnings

LVMHF

LVMUY

French luxury fashion house LVMH reported a 10% Y/Y sales growth to €62.205 billion for the first nine months of FY23. Organic revenue growth was 14% for the nine months and 9% in Q3 FY23. All business groups, except Wines & Spirits, saw organic revenue growth. The company saw a 26% jump in organic sales of Selective Retailing due to the strong performance of Sephora. Organic sales grew 16% in the Fashion & Leather Goods segment. LVMH expects continued growth in 2023 despite an uncertain economic and geopolitical environment.

Portfolio Pulse from Lekha Gupta

October 11, 2023 | 10:00 am

DVA

ETWO

FMS

SILK

Several stocks recorded losses in Wednesday's pre-market trading session. Silk Road Medical's shares fell 38.5% after announcing Q3 revenue results and FY23 revenue guidance below estimates. Fresenius Medical Care, DaVita, and E2open Parent Holdings also saw significant drops in share prices. Hyliion Holdings' shares declined after announcing a strategic review of alternatives for its Electric Powertrain Business. Baxter International, Polestar Automotive, Hut 8 Mining Corp., and Northern Oil and Gas also experienced declines.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 10:00 am

PEP

PepsiCo Inc.'s CEO, Ramon Laguarta, has stated that the rise in weight loss and diabetes medications has had a negligible effect on the company's business. Despite warnings about the potential impact of appetite-suppressing drugs on food consumption habits, Laguarta remains confident in PepsiCo's strategy of offering healthier options and smaller package sizes. The company has reported a nearly 7% rise in net sales to $23.45 billion and has adjusted its full-year forecast upwards for the third consecutive quarter.

Portfolio Pulse from Benzinga Neuro

October 11, 2023 | 9:36 am

RELL

Richardson Electronics (NASDAQ:RELL) is scheduled to report its quarterly earnings after the bell on October 11, 2023. The company is estimated to report earnings of $0.03 per share on revenue of $51.10 million.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 9:18 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is set to release its Q3 earnings report amidst concerns of price reductions and sluggish vehicle sales. Analysts predict a decrease in earnings per share and a potential drop in auto gross margins. The company's stock has faced a downward trend following earnings releases over recent quarters. The management's commentary during the earnings call, particularly on the future of auto gross margins, will be crucial.

Portfolio Pulse from Shanthi Rexaline

October 11, 2023 | 8:52 am

AAPL

Apple Inc. (NASDAQ:AAPL) shares are on a downward trend, causing concern among investors and analysts ahead of the Q4 earnings report. Melius Research analyst Ben Reitzes maintains a Buy rating and a $240 target price on Apple stock, despite its current price around $179. Reitzes identifies four key challenges for Apple: growth, China, artificial intelligence (AI), and its search engine strategy. He predicts a 4% revenue growth for the December quarter, citing potential benefits of iPhone 15 upgrades and increased store traffic.

Portfolio Pulse from Benzinga Neuro

October 11, 2023 | 7:56 am

PEP

RELL

The CNN Money Fear and Greed index showed a slight easing in fear level but remained in the 'Fear' zone. U.S. stocks settled higher on Tuesday, with the 10-year Treasury yield declining to around 4.65%. PepsiCo Inc reported better-than-expected Q3 earnings. Most sectors on the S&P 500 closed positively, except for energy stocks. Investors are awaiting earnings results from Richardson Electronics, Ltd.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 7:45 am

ASTR

AZZ

ETWO

RELL

VOXX

Richardson Electronics (RELL) is expected to report quarterly earnings of 3 cents per share on revenue of $51.10 million. AZZ Inc. (AZZ) posted better-than-expected results for its second quarter and reaffirmed FY24 guidance. Astra Space (ASTR) is exploring strategic options, including asset sales. VOXX International Corporation (VOXX) reported stronger-than-expected sales for its second quarter. E2open Parent Holdings Inc (ETWO) posted downbeat results for its second quarter and named Andrew Appel as interim CEO.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 7:42 am

CMCL

Caledonia Mining has reported a 3Q23 gold production of 21,772 ounces at its Blanket Mine, marking a new quarterly record. This is a 3% increase from the 21,120 ounces produced in the same quarter of 2022. The total gold produced in the nine months to the end of September was 55,244 ounces. The company has reiterated its gold production guidance for 2023 of between 75,000 and 80,000 ounces.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:14 am

LGEJY

LG has reported its preliminary 3Q23 results, with consolidated revenues of KRW 20.7 trillion and an operating profit of KRW 996.7 billion. These figures are the second highest third-quarter figures in the company's history. The growth was driven by the home appliances and vehicle solutions businesses, despite the economic slowdown and prolonged decline in demand. The operating profit increased by more than 30 percent compared to the same period last year and the second quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:57 am