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Equity Actions

GM

General Motors' CFO has announced that the automaker is planning additional cost cuts of $1B for 2023 and 2024, raising the target for that period to $3B.

Portfolio Pulse from Charles Gross

July 25, 2023 | 11:26 am

GM

GOOGL

MRNA

MS

TSLA

TWTR

Morgan Stanley strategist admits being wrong about the market rally but points to potential headwinds. Alphabet, General Motors, and three other stocks are highlighted for Tuesday. Ark Investment Management identifies Tesla's growth catalysts and buys more Moderna shares. Dogecoin surges after Elon Musk's Twitter rebranding. BlackRock's ETF could boost Bitcoin price. Microsoft and Nvidia are expected to report higher earnings. Tesla discusses low-cost car with Indian government. Twitter's makeover could cost Elon Musk billions.

Portfolio Pulse from Akanksha Bakshi

July 25, 2023 | 11:24 am

BNOX

Bionomics has announced its intention to delist from the Australian Securities Exchange, following which its shares have resumed trading.

Portfolio Pulse from Charles Gross

July 25, 2023 | 11:22 am

FGEN

FibroGen has announced the appointment of Thane Wettig as the company's interim CEO, effective from July 23, 2023. He will be succeeding Enrique Conterno, who has resigned due to personal reasons.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 11:09 am

IRDM

Iridium Communications has reaffirmed its FY23 guidance, expecting total service revenue growth between 9% and 11% for full-year 2023, OEBITDA between $455 million and $465 million, negligible cash taxes, and net leverage of between 2.5 and 3.5 times OEBITDA. This assumes the completion of the company's total $600.0 million share repurchase authorization and the payment of four quarters of dividends.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 11:08 am

HOOD

Robinhood Markets has appointed Jordan Sinclair to oversee its long-delayed launch into the British market, according to Sky News.

Portfolio Pulse from Charles Gross

July 25, 2023 | 11:05 am

RTX

Raytheon Technologies (RTX) has raised its FY23 outlook, citing accelerating demand in global commercial aerospace and strong defense spending. The company now expects sales of $73-74 billion, up from the previous estimate of $72-73 billion, and adjusted EPS of $4.95-$5.05, slightly up from the previous $4.90-$5.05. However, free cash flow is expected to decrease to $4.3 billion from $4.8 billion due to an issue requiring Pratt & Whitney to remove certain engines from service for inspection earlier than expected.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 10:58 am

DOV

Dover Corporation has revised its FY23 GAAP EPS guidance to $7.68-$7.83 from the previous $7.81-$8.01, and maintained its adjusted EPS at $8.85-$9.00. The company expects a revenue growth of 2%-4% for the full year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 10:42 am

HRI

Herc Holdings has reaffirmed its FY23 adjusted EBITDA guidance of $1.45 billion to $1.55 billion, reflecting an increase of 18% to 26% compared to FY22. The company plans to gain market share by capitalizing on higher forecasted construction spending in 2023 through fleet investment, strategic acquisitions, and diversified product portfolio cross-selling.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 10:38 am

SBSI

Southside Bancshares' board of directors has approved a Stock Repurchase Plan authorizing the repurchase of up to 1.0 million shares of the company's outstanding common stock.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 9:51 am