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REVG

REV Group (NYSE:REVG) is expected to release its quarterly earnings report on Wednesday, 2023-12-13, with an estimated EPS of $0.34. Investors are looking for an earnings beat and positive guidance for future growth. Historically, REV Group's stock price has been sensitive to earnings performance and guidance. Last quarter, the company beat the EPS estimate by $0.12, leading to a 6.15% stock price increase the following day. Over the past year, REVG shares have risen 16.48%, trading at $16.96 as of December 08.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 2:00 pm

ABBV

BMY

IMGN

PFE

SGEN

Bristol Myers Squibb & Co (NYSE:BMY) has entered into an $8.4 billion deal with SystImmune for the exclusive license of BL-B01D1, a bispecific antibody-drug conjugate with potential in treating lung and breast cancer. The deal includes an $800 million upfront payment and up to $7.6 billion in additional payments. SystImmune retains responsibilities in Mainland China, while Bristol Myers will handle development and commercialization elsewhere. The move diversifies Bristol Myers' oncology portfolio, following recent ADC-related deals by the company and other pharma giants like AbbVie Inc (NYSE:ABBV) and Pfizer Inc (NYSE:PFE). BMY shares saw a slight decrease in premarket trading.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 2:00 pm

ORCL

Oracle Corp (NYSE:ORCL) stock is down in premarket trading after reporting mixed Q2 results. Revenue was $12.94 billion, missing estimates by $0.11 billion, but adjusted EPS of $1.34 beat estimates by $0.02. Cloud revenue grew significantly, with IaaS up 52% and SaaS up 15%. Despite this, analysts from Piper Sandler and UBS lowered their price targets for ORCL from $130 and $135 to $125, respectively. The stock has risen 38% YTD, but is currently trading 9.50% lower at $104.20.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 1:59 pm

AAPL

GOOG

GOOGL

MSFT

SPOT

TCEHY

Alphabet Inc's stock (GOOG, GOOGL) is trading lower after a federal jury ruled against its Android app store for antitrust violations. Epic Games filed the lawsuit in 2020, accusing Google of maintaining a monopoly. Similar to Apple (AAPL), Google charges a commission on in-app transactions. Epic Games previously lost a case against Apple. Google reportedly paid Microsoft (MSFT) and Tencent Holdings (TCEHY) to avoid competition with the Play Store. Google's CEO Sundar Pichai denied the allegations but admitted to inadvertently erasing internal discussions. Spotify (SPOT) has a deal with Google to avoid most commission fees. GOOG shares dropped 1.05% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 1:56 pm

KORE

TWLO

Kore Group Holdings has entered into a stock repurchase agreement with Twilio to buy back 5 million shares of its common stock for approximately $2.9 million, as disclosed in an SEC 8K filing on December 11.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:53 pm

HUT

Hut 8 Corp (NASDAQ:HUT) shares are trading higher after announcing its successful stalking horse bid for four natural gas power plants, including a Bitcoin mine in North Bay. The bid, in partnership with Macquarie Equipment Finance, is pending final court approval. Hut 8's new subsidiary 'BidCo' will acquire the assets of certain Validus entities, with Hut 8 holding an 80% equity stake and Macquarie holding 20%.

Portfolio Pulse from Adam Eckert

December 12, 2023 | 1:52 pm

ARGX

TD Cowen analyst Yaron Werber has maintained an Outperform rating on argenx (NASDAQ:ARGX) and increased the price target from $612 to $641, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:51 pm

GREE

Greenidge Generation has partnered with Infinite Reality (iR) and launched GreenidgeAI. In the share exchange, iR will receive Greenidge shares valued at $8.33 each, reflecting a $2.5 billion valuation of iR stock. Additionally, both companies have granted each other one-year warrants to purchase more shares at set prices, with proceeds aimed at developing a new datacenter for Greenidge and providing working capital for iR.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:48 pm

BAX

CVS

OGN

Three high-yielding dividend stocks in the health care sector have been rated by Wall Street's most accurate analysts. Organon & Co. (OGN) has a dividend yield of 9.97% but received mixed ratings and a price target cut. CVS Health Corporation (CVS) offers a 3.61% yield, maintained positive ratings, and announced a consistent dividend. Baxter International Inc. (BAX) with a 3.19% yield, also saw price target reductions but reported revenue that beat consensus. Recent news and analyst accuracy rates are considered for investment insights.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 1:48 pm

CLIN

Clean Earth Acquisition Corp. (NASDAQ:CLIN) has announced that the business combination with Alternus Energy Group Plc (OSE: ALT) has not yet closed due to unmet conditions. The companies are working to satisfy these conditions, including Nasdaq's approval for listing the post-combination company's stock. There is no guarantee that the business combination will be completed by the deadline of May 28, 2024, as required by Clean Earth's governing documents.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:42 pm