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DAN

Dana Incorporated (NYSE:DAN) shares fell after reporting Q1 results, despite beating earnings and sales expectations. The company reported adjusted EPS of 27 cents, above the 19 cents forecast, and sales of $2.735 billion, surpassing the $2.684 billion estimate. Adjusted EBITDA was $223 million, up $19 million from last year, with a margin improvement to 8.2%. Dana also highlighted efficiency improvements and a strong focus on electric-vehicle product development. The company reaffirmed its FY24 guidance, expecting sales between $10.65 billion and $11.15 billion, and adjusted EBITDA between $875 million and $975 million. Despite the positive results and outlook, shares dropped 2.18% to $12.35.

Portfolio Pulse from Nabaparna Bhattacharya

April 30, 2024 | 6:08 pm

DIS

TV

Ryan Reynolds and Rob McElhenney have acquired a stake in the Mexican soccer team Necaxa, adding to their sports assets following their purchase of Wrexham FC. The deal's terms were not disclosed, but the investment is considered significant. This move comes after their successful acquisition and promotion of Wrexham FC, which led to the award-winning docuseries 'Welcome to Wrexham' aired by FX, a Walt Disney Co unit. Necaxa, valued at around $200 million in 2022, has struggled in recent years but could see a resurgence with new celebrity ownership. The team's media rights in the U.S. are currently held by Univision, owned by TelevisaUnivision, with Grupo Televisa being the largest holder.

Portfolio Pulse from Chris Katje

April 30, 2024 | 6:05 pm

ROKU

TTD

Roku, Inc. (NASDAQ:ROKU) has announced a partnership with The Trade Desk, Inc. (NASDAQ:TTD) to provide advertisers with enhanced TV streaming media planning, buying, and measurement capabilities using Roku's data. This collaboration aims to leverage Roku's audience and behavioral data for campaign optimization on The Trade Desk platform. Additionally, Roku has expanded its measurement partnership with iSpot.tv to share capabilities and drive innovation in the streaming TV ecosystem. TTD shares dropped by 0.73% to $83.88, while ROKU shares increased by 0.43% to $58.91.

Portfolio Pulse from Nabaparna Bhattacharya

April 30, 2024 | 5:52 pm

AAPL

CTEX

GLW

KNGZ

Corning Inc (NYSE:GLW), a supplier for Apple Inc (NASDAQ:AAPL), reported a fiscal first-quarter 2024 core sales decline of 3% year-on-year to $3.26 billion, surpassing the consensus of $3.12 billion. Core EPS was $0.38, beating the consensus of $0.35. The company saw varied performance across its segments, with Display Technologies growing by 14% and Optical Communications declining by 17%. Corning's CEO announced plans to add more than $3 billion in annualized sales within the next three years. Corning expects Q2 core sales of $3.40 billion and core EPS of $0.42 - $0.46. GLW shares rose by 5.11% to $33.41. Investors can also gain exposure to Corning through ETFs like First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) and ProShares S&P Kensho Cleantech ETF (NYSE:CTEX).

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 5:45 pm

WMT

Walmart Inc (NYSE:WMT) announced the closure of all its healthcare clinics due to rising operating costs and a challenging reimbursement environment, making the care business unsustainable. The decision affects 51 clinic locations and virtual care offerings but does not impact its 4,600 pharmacies and over 3,000 vision centers. The closures, happening over the next 45 to 90 days, come after plans to expand the clinic footprint. Walmart assures affected employees of transfer opportunities and pay for 90 days. WMT shares dropped 1.71% following the announcement.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 5:17 pm

MJ

MSOS

The Drug Enforcement Administration (DEA) is reportedly moving to reclassify marijuana as a less dangerous drug, signaling a significant shift in federal drug policy. This move could have broad implications for the cannabis industry, potentially easing restrictions on research and banking, and affecting companies involved in the marijuana sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:07 pm

NXL

Nexalin Technology, identified by its ticker symbol NXL, has received a Notice of Allowance for its U.S. patent application 18/342,590, which is focused on a Transcranial Alternating Current Dynamic Frequency Stimulation (TACS) method aimed at treating Alzheimer's and dementia. This development marks a significant milestone for Nexalin Technology in its efforts to innovate and expand its intellectual property portfolio in the medical technology sector, specifically targeting neurodegenerative diseases.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:03 pm

TGT

The THC beverage sector is expected to grow from $180 million in 2021 to $500 million by 2026. Industry experts at the Benzinga Cannabis Capital Conference discussed the sector's growth, regulatory landscape, and its potential as an alcohol substitute. Key insights include the differentiation between hemp and marijuana, the importance of distribution channels, and the emerging consumer base of canna-curious individuals. Target (NYSE:TGT) was mentioned as now taking adaptogenic mushrooms, highlighting the broader acceptance and potential for growth in the cannabis-related product market.

Portfolio Pulse from Nina Zdinjak

April 30, 2024 | 4:42 pm

HOOD

UNIUSD

Robinhood announced on X that 'Robinhood Connect' is now integrated with the Uniswap Wallet, offering a limited-time promotion where eligible Robinhood customers can receive $10 of USDC for purchasing $10 of crypto using Robinhood Connect on the Uniswap Wallet.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:37 pm

META

SNAP

Snap Inc (NYSE:SNAP) reported Q1 financials with a 21% revenue increase to $1.19 billion, surpassing estimates and showing significant improvement in its ad business. Daily active users rose to 422 million, and shares surged 21% after hours. Adjusted EBITDA and EPS also exceeded expectations. Snap's Q2 guidance beats estimates, indicating continued growth. Meta Platforms (NASDAQ:META) also reported strong earnings, with a 27% revenue increase to $28.65 billion, but shares fell due to weak revenue guidance and increased capital expenditures for AI investments.

Portfolio Pulse from Upwallstreet

April 30, 2024 | 4:35 pm