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Revenues

VIOT

Viomi Technology Co., Ltd (NASDAQ:VIOT) has upgraded its water purification business to a strategic business unit, emphasizing the company's focus on this area and its R&D strengths. The company reported a 1.7% revenue increase in its Home water solutions unit to $39.5 million for the first half of the year. Viomi appointed Qi Chen, a former general manager at A.O.Smith (China) Water Heater Co., as president of the new strategic business unit. Viomi's cash and equivalents stood at $95.4 million as of June 30, 2023. VIOT shares dropped 3.88% to $0.9228 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 24, 2023 | 12:17 pm

COST

KHC

MDLZ

Wall Street analysts have updated their ratings and price targets for several consumer staples stocks. Stifel and Morgan Stanley analysts see a 3% and 15% upside for Procter & Gamble (PG) respectively. Costco Wholesale (COST) received a Buy rating from Stifel with a 1% growth forecast, while JP Morgan cut its price target but still expects a 3% surge. Kraft Heinz (KHC) was upgraded by Bernstein to Outperform with a 15% upside, and Mondelez International (MDLZ) received an Overweight rating from Morgan Stanley and Piper Sandler with a 3.5% and 2% rise expected respectively. All companies have reported recent financial results, with PG and MDLZ posting better-than-expected earnings, COST reporting strong sales, and KHC showing mixed results but raising its full-year EPS outlook.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 12:04 pm

BYDDF

Chinese EV manufacturer BYD Co Ltd (OTC:BYDDF) has launched its flagship Han sedan in the United Arab Emirates, marking its expansion into the Middle East amid geopolitical tensions limiting its entry into the U.S. and Europe. The company has partnered with Al-Futtaim to represent it in the U.A.E. and plans to launch four models by the end of the year. BYD reported a 38.49% increase in Q3 sales year-over-year and an 81% increase in net profit. The stock closed lower by 0.53% at $30.78 on Wednesday.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 11:30 am

HTHT

H World Group reported a total of 9,157 hotels and 885,756 hotel rooms in operation as of September 30, 2023. This includes 129 hotels from its DH brand.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 11:21 am

HTHT

H World Group, which may be referenced as HTHT, forecasts Q4 2023 revenue growth of 41%-45% year-over-year. Excluding the impact from Steigenberger Hotels GmbH, the growth is expected to be even higher, at 48%-52%, surpassing the estimated $726.85 million.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 11:20 am

AAPL

XIACF

XIACY

Apple Inc (AAPL) saw a 4% decline in smartphone sales during China's Singles Day, while Huawei and Xiaomi (XIACF, XIACY) reported sales growth of 66% and 28%, respectively. Despite the overall Chinese smartphone market growing by 5%, Apple faces challenges with a sales ban expansion and higher iPhone 15 prices compared to rivals. JD.com (JD) reported over 10 billion yuan in Apple transactions, and Xiaomi's gross merchandise value exceeded 22.4 billion yuan. The market is expected to rebound, with discounts on iPhones and new releases from Huawei and Xiaomi intensifying competition. Supply chain issues have affected Apple's performance, but normalization is expected soon.

Portfolio Pulse from Anusuya Lahiri

November 24, 2023 | 11:11 am

EWJ

NVO

Novo Nordisk is set to launch its obesity drug Wegovy in Japan in February, as reported by Reuters. This expansion into the Japanese market follows the drug's strong demand in existing markets.

Portfolio Pulse from Charles Gross

November 24, 2023 | 9:56 am

AEO

BBY

HTHT

WMT

Investors are watching several stocks as U.S. futures trade mixed. H World Group (HTHT) is expected to report earnings, with shares slightly down in after-hours. American Eagle (AEO) reported a revenue increase, beating estimates, with shares up 1%. Jianpu Technology (JT) will report unaudited Q3 results, with shares last at $1.02. Best Buy (BBY) reported strong Q3 earnings but cut FY24 guidance, with shares slightly up. Walmart (WMT) had upbeat Q3 sales but shares fell slightly.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 9:24 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is considering a $2 billion investment in an Indian factory, conditional on a reduced import duty of 15% for its electric vehicles (EVs) for the first two years. The investment amount is linked to the number of vehicles Tesla is allowed to import at this rate. The Indian government is deliberating on allowing a lower number of vehicles than Tesla's request, with a potential limit of 10% of total EVs sold in India this fiscal year. Tesla's proposal includes a commitment to localize 20% of car value within two years, which is under review by Indian authorities. Tesla plans to introduce three models in India and increase auto parts sourcing from the country.

Portfolio Pulse from Shomik Sen Bhattacharjee

November 24, 2023 | 6:43 am

NFLX

Contestants of 'Squid Game: The Challenge' are considering a lawsuit against Netflix Inc. (NASDAQ:NFLX) for injuries sustained during filming. Express Solicitors, a U.K. law firm, represents two contestants who claim to have suffered from hypothermia and nerve damage. The firm has sent claim letters to co-producer Studio Lambert. Netflix confirmed that three contestants needed medical attention during filming. No lawsuit has been filed yet, but the claims could impact the show's reputation and lead to legal issues for Netflix.

Portfolio Pulse from Ananya Gairola

November 24, 2023 | 1:43 am