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Equity Actions

EVTV

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has announced strategic changes in its leadership team. Richard Ross has been hired as Executive Vice President of EVTV North America and Greg Miros as Vice President of Sales. Susan Emry, previously Executive Vice President of EVTV, has been named Overseas Strategy Officer. The changes aim to boost sales in the U.S. and expand the company's business in the Asia Pacific region.

Portfolio Pulse from Charles Gross

July 18, 2023 | 11:47 am

LSEA

MOD

NEGG

ZGN

The article lists five consumer stocks that are considered overbought, indicating they may be overvalued. The stocks are RH (NYSE:RH), Newegg Commerce, Inc. (NASDAQ:NEGG), Modine Manufacturing Company (NYSE:MOD), Landsea Homes Corporation (NASDAQ:LSEA), and Ermenegildo Zegna N.V. (NYSE:ZGN). The Relative Strength Index (RSI) values for these stocks are above 70, suggesting they may be due for a price correction.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 11:30 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock traded lower as China's economy growth lagged market expectations and Wall Street banks reduced their targets. China's GDP grew at an annual pace of 6.3% last quarter, trailing the consensus forecast of a 7.1% gain. Analysts do not expect the GDP data to prompt Beijing to step up stimulus measures. Morgan Stanley, JPMorgan Chase, and Citigroup trimmed their growth forecasts for China's GDP this year to 5%.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:18 am

NVS

Novartis AG reported Q2 FY23 sales of $13.62 billion, up 7% Y/Y and 9% on constant currency, beating the consensus of $13.17 billion. The company also announced a $15 billion share buyback program to be completed by 2025 and plans to spin off its generics division, Sandoz. Novartis has raised its revenue forecast for 2023 to high single digits, up from mid, with core operating income set to grow in the low double digits.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 11:11 am

CATC

Cambridge Bancorp has appointed Joseph P. Sapienza, the Controller of its bank subsidiary, Cambridge Trust Company, as Interim CFO of the Company. Mr. Sapienza has been an employee of the Bank for 27 years and has been the Controller of the Bank since 2005.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:08 am

UEC

Uranium Energy Corp (UEC) has announced the development of Burke Hollow and Palangana ISR projects in South Texas. The projects are expected to boost the company's uranium production capacity.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:56 am

CAMT

B of A Securities analyst Vivek Arya has upgraded Camtek (NASDAQ:CAMT) from Neutral to Buy and raised the price target from $30 to $50.

Portfolio Pulse from richadhand@benzinga.com

July 18, 2023 | 10:52 am

ABOS

FFIE

GDS

LITE

MASI

NKLA

SYF

Several stocks recorded losses in Tuesday's pre-market trading session. Masimo Corporation shares dipped 27.3% after reporting weak preliminary revenue results for Q2. Acumen Pharmaceuticals tumbled 9.5% after reporting a proposed public offering of common stock. Lumentum Holdings, GDS Holdings, Faraday Future Intelligent Electric, Nikola Corporation, and Synchrony Financial also saw declines.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 10:46 am

TSLA

Tesla's co-founder and former technology chief, J.B. Straubel, discussed his journey at Tesla and his decision to leave in 2019 during a recent interview. He returned to Tesla as a board member earlier this year. Straubel highlighted the initial skepticism Tesla faced and the challenges of scaling the company profitably. He also dismissed concerns about over-investment in lithium-ion battery technology, emphasizing the need for continuous investment in the supply chain, refining processes, infrastructure, and product development.

Portfolio Pulse from Anan Ashraf

July 18, 2023 | 10:35 am

CVM

CEL-SCI has priced its public offering of 2.5 million shares at $2 per share, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 10:16 am