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Revenues

BMWYY

BYDDF

HYMLY

TSLA

VWAGY

The global electric vehicle (EV) market share reached 15% in 2023, with a 41% YoY surge in July. Tesla Inc (NASDAQ:TSLA) and BYD (OTC:BYDDF) are among the top players, with Tesla Model Y and BYD Song being the top-selling EVs. Other companies in the top 10 include General Motors (NYSE:GM), Volkswagen (OTC:VWAGY), BMW (OTC:BMWYY), Li Auto (NASDAQ:LI), and Hyundai Motor (OTC:HYMLY). The US lags behind other markets with only 5.8% of all new vehicles sold in 2022 being EVs.

Portfolio Pulse from Chris Katje

September 11, 2023 | 9:40 pm

SGHT

Sight Sciences has issued Q3 total revenue guidance below estimates and also cut its FY23 revenue guidance below estimates. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:18 pm

XOMA

XOMA Corporation received a commercial payment of $4.9M from Genentech, which is derived from the sales of Vabysmo during the first half of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:14 pm

SGHT

Sight Sciences has projected its Q3 total revenue to be between $19M-$20M, which is lower than the estimated $23.72M.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:13 pm

SGHT

Sight Sciences has reduced its FY23 revenue guidance from $89M-$94M to $80M-$82M, which is significantly lower than the estimated $92.12M.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:12 pm

BAC

SPY

Bank of America's CFO has stated that loan growth is slowing down, particularly on the commercial side.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 7:15 pm

XPEV

XPeng Inc. (NYSE:XPEV) shares are trading higher amid strong August electric vehicle sales in China. The China Association of Automobile Manufacturers reported an 8.5% quarter-over-quarter and 27% year-over-year increase in sales. In the first eight months of 2023, sales rose 1.8% year-over-year to 13.38 million units.

Portfolio Pulse from Ryan Gustafson

September 11, 2023 | 7:05 pm

KKR

KKR & Co Inc has increased its stake in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, through an investment of 2,069.50 crore rupees. This investment raises KKR's stake to 1.42% from 1.17%. KKR also disclosed a new equity investment of over $1 billion in USI Insurance Services. Last month, KKR reported Q2 revenues of $3.63 billion, significantly higher than the previous year. KKR shares are currently trading higher by 0.76% at $63.30.

Portfolio Pulse from Lekha Gupta

September 11, 2023 | 5:19 pm

RENT

Rent the Runway Inc (NASDAQ:RENT) shares continue to decline, losing almost 70% year to date. Despite reporting Q2 adjusted EBITDA above expectations, the company's revenue and subscriber growth disappointed. Analyst Dana Telsey downgraded the rating to Market Perform and cut the price target from $4 to $1. The company's low subscriber retention is attributed to a lack of inventory depth. The company plans to reduce promotional activity, pull back on marketing, drive cost efficiencies, and focus on rebuilding the higher-margin reserve business, which is expected to impact customer acquisition.

Portfolio Pulse from Priya Nigam

September 11, 2023 | 4:38 pm

AZN

BABA

NVS

QCOM

RTX

SFTBF

UBS

WELL

Several major companies have announced significant developments. Qualcomm has signed a chip supply agreement with Apple, potentially boosting its stock. Vietnam Airlines is nearing a $10 billion deal with Boeing to acquire 50 Boeing 737 Max jets. Welltower has raised its FY23 FFO outlook due to strong capital deployment and senior housing business. Novartis' Sandoz has entered a development and commercialization agreement with Samsung Bioepis. RTX Corp is facing a $3 billion pre-tax charge due to a Pratt & Whitney engine problem. AstraZeneca's CEO, Pascal Soriot, is rumored to be stepping down. Alibaba is undergoing a leadership shakeup in its cloud business. A potential United Auto Workers strike could cost the US economy billions. Apple and Google are facing an antitrust showdown. UBS is planning to cut wealth-management jobs in Asia. Arm Holdings is considering boosting its IPO price.

Portfolio Pulse from Vandana Singh

September 11, 2023 | 2:51 pm