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The Nasdaq 100 and S&P 500 closed at record highs, driven by gains in tech stocks. The Nasdaq 100 rose 0.6% to 19,576 points, while the S&P 500 increased 0.2% to 5,433 points. Treasury Secretary Janet Yellen's optimistic comments on disinflation and a strong job market boosted investor confidence. The market is pricing in a high probability of rate cuts by the end of the year. Technology and real estate sectors led the gains, while energy and communication services lagged.

Portfolio Pulse from Piero Cingari

June 13, 2024 | 8:35 pm

MSM

MSC Industrial reported preliminary Q3 net sales of approximately $978M-$980M, down 7.3%-7.1% year-over-year, missing the estimated $1.022B. The company also lowered its full-year 2024 outlook due to ongoing manufacturing softness and issues with their web price realignment.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:34 pm

NVOS

Novo Integrated Sciences has received confirmation from HSBC for the issuance of a Standby Letter of Credit (SBLC) for its SBLC leasing and monetizing program. The company is projected to receive gross funding proceeds of approximately $78 million.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:34 pm

ADBE

Adobe Inc (NASDAQ:ADBE) reported strong Q2 earnings, beating both revenue and EPS estimates. The company achieved record revenue of $5.31 billion, driven by growth across its cloud services. Adobe also provided strong guidance for Q3 and full-year 2024, significantly above analyst estimates. The stock rose 14.39% in after-hours trading.

Portfolio Pulse from Adam Eckert

June 13, 2024 | 8:23 pm

SENEA

Seneca Foods (NASDAQ:SENEA) reported a Q4 EPS of $(0.32), a significant improvement from $(1.20) YoY. However, sales decreased by 6.97% to $307.98M from $331.06M YoY.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:20 pm

Ford Motor Co. (NYSE:F) is allowing all U.S. dealerships to sell electric vehicles (EVs) starting July 1, discontinuing its Model e certification program. This move is expected to double the number of Ford dealers eligible to sell EVs to 2,800 and boost EV sales, which have already seen an 88% increase this year.

Portfolio Pulse from Aaron Bry

June 13, 2024 | 8:20 pm

VXRT

Vaxart shares are trading higher after receiving a BARDA-funded Project NextGen award valued up to $453 million to conduct a Phase 2b study for its COVID-19 oral pill vaccine candidate.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:16 pm

VXRT

Vaxart has received up to $453 million from BARDA for a Phase 2b study of its oral COVID-19 vaccine. The initial $65.7 million will fund the study start-up, with the remaining $387.2 million contingent on further study approval. Enrollment is expected to begin in summer 2024, with interim analysis by Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:16 pm

POWW

AMMO (NASDAQ:POWW) reported Q4 earnings of $0.01 per share, beating the analyst estimate of $(0.01) by 200%. Sales were $40.42M, surpassing the $37.90M estimate by 6.65%. However, both earnings and sales decreased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:11 pm

ITI

Iteris expects Q1 total revenues of $43.5M - $45.5M, below the estimated $46.401M. This represents an organic growth of 2% at the midpoint of the guidance range. Adjusted EBITDA margin is expected to decline by 324 basis points year over year due to investments in R&D and sales.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 8:11 pm