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On August 16th, U.S. stock markets closed higher with the S&P 500 and Nasdaq achieving their seventh consecutive session of gains. Positive economic indicators and optimism about potential Federal Reserve rate cuts lifted investor sentiment. Most S&P 500 sectors closed higher, led by financials, tech, and utilities. Asian markets showed mixed results, with Japan's Nikkei 225 closing lower while other major indices in the region rose. European markets opened in the green, and commodities saw varied movements with gold hitting a new high. The U.S. dollar weakened amid expectations of dovish signals from the Federal Reserve.

Portfolio Pulse from Akanksha Bakshi

August 19, 2024 | 10:54 am

CRGO

Freightos has acquired Luxembourg-based Shipsta for €4.5M in cash and 640,000 Freightos shares. This acquisition enhances Freightos' capabilities in freight digitization and is expected to contribute significantly to its revenue and market position.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:54 am

EL

Estée Lauder Companies (EL) has provided its fiscal year 2025 outlook, projecting adjusted EPS between $2.78 and $2.98, which is below the $4.02 estimate. The company forecasts reported and organic net sales to range from a decrease of 1% to an increase of 2%. Restructuring charges are expected to impact earnings.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:54 am

EL

Estee Lauder Cos (NYSE:EL) reported Q4 2024 adjusted EPS of $0.64, significantly beating the analyst estimate of $0.27. The company also reported sales of $3.871 billion, surpassing the $3.830 billion estimate and marking a 7.26% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:49 am

ITRN

Ituran Location and Control (ITRN) added 38,000 subscribers in Q2, expanding its subscriber base to 2,329,000 by the end of June 2024.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:47 am

ITRN

Ituran Location and Control (ITRN) has reiterated its expectations for continued revenue and profit growth for FY24, projecting the addition of 35,000 to 40,000 new subscribers per quarter. The company expects full-year 2024 EBITDA to be between $90-95 million and aims to surpass $100 million in 2025, assuming stable exchange rates and no significant deterioration in global macro-economic or political conditions.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:46 am

LLAP

Terran Orbital has announced a $254 million agreement with Tyvak for the Space Development Agency. This deal is significant for the company's growth and future prospects in the space industry.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:37 am

AULT

Ault Alliance reported a Q2 EPS of $(1.08), down from $(1.00) year-over-year, and sales of $28.40 million, down from $47.41 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:35 am

AAPL

BRK

Warren Buffett's $189 billion cash pile at Berkshire Hathaway is not a sign of an impending market crash, according to fund manager Chris Bloomstran. The cash position is in line with historical averages and is part of a broader strategy, including significant investments in U.S. Treasury bills and stock sales, such as a reduction in Apple holdings.

Portfolio Pulse from Benzinga Neuro

August 19, 2024 | 9:39 am

AAPL

Apple Inc. (NASDAQ:AAPL) is set to open its fourth iPhone assembly plant in India, established by Tata Electronics in Hosur, Tamil Nadu. The plant will begin operations in November and is expected to employ over 50,000 workers. This expansion is part of Apple's strategy to increase its manufacturing capacity in India, which is projected to account for 20%-25% of total iPhone shipments this year.

Portfolio Pulse from Ananthu C U

August 19, 2024 | 8:37 am