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GM

TSLA

Legacy automakers like Ford and GM are considering reducing customization options, following the successful model of Tesla and Chinese EV firms. This strategy simplifies the assembly process, reduces complexity, and enhances efficiency. Ford's CEO mentioned a potential 80%-90% reduction in consumer options, while GM's CEO discussed a strategy to reduce design and engineering complexities.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 11:17 am

SELB

Selecta Biosciences has announced plans to halt further investments in its pipeline programs, excluding SEL-212. The company will also stop or discontinue non-essential activities, following consultation with its board of directors.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:10 am

SPTN

SpartanNash has reported that it is continuing its long-term plan transformation by implementing new ways of working across its go-to-market functions.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:08 am

GAMB

Gambling.com Group has increased its FY23 revenue guidance to $100M-$104M, up from the previous $99M-$95M, and above the estimated $97.23M. The adjusted EBITDA is also raised to $36M-$40M from the prior $33M-$37M. The guidance assumes Kentucky will go live with online sports betting on September 28th, no additional North American markets will go live with online sports betting or iGaming in 2023, no new acquisitions, new investments for the development of Casinos.com and support to media partners, and an average EUR/USD exchange rate of 1.095 for the rest of 2023.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:07 am

MULN

Mullen Automotive has announced the commencement of its $25 million stock buyback program.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:06 am

CHGG

Chegg Inc's board of directors has authorized an increase of $200 million as part of its securities repurchase program. This is in addition to the $89 million remaining from its previously announced $2 billion securities repurchase program. The company plans to fund the repurchase program from its existing cash balance and future cash flows from operations. As of June 30, 2023, Chegg held $808 million in cash and equivalents. CHGG shares are trading higher by 3.15% at $9.83 in premarket on Thursday.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 10:54 am

TPR

Tapestry has provided its fiscal year 2024 outlook, expecting revenue of $6.9 billion, which is slightly lower than the $6.93 billion estimate. The company also expects EPS of $4.10-$4.15, lower than the $4.23 estimate. The company has suspended its share repurchase program ahead of the planned acquisition of Capri Holdings Limited.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:52 am

NVDA

Oppenheimer analyst Patrick Scholes maintains an Outperform rating on NVIDIA (NASDAQ:NVDA) and raises the price target from $420 to $500.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:51 am

TPR

Tapestry has raised its FY2023 adjusted EPS guidance from $3.85-$3.90 to $4.10-$4.15, beating the estimated $3.90. The company also increased its FY2023 sales guidance from $6.70B to $6.90B, matching the estimate. For FY2024, Tapestry expects revenues of $6.9 billion, a 3-4% increase from the previous year, and an EPS of $4.10 to $4.15. The company has suspended its share repurchase program ahead of the planned acquisition of Capri Holdings Limited.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:50 am

ARHS

Arhaus Inc (NASDAQ:ARHS) has priced its underwritten public offering of 12 million shares at $10 per share, an 18% discount to the company's closing price as of August 15, 2023. The offering, expected to close on August 21, 2023, is by certain selling stockholders affiliated with Freeman Spogli & Co. The stockholders have also granted underwriters a 30-day option to purchase up to an additional 1.8 million shares. Arhaus will not receive any proceeds from the offering.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 10:36 am