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GIS

General Mills, Inc. (NYSE:GIS) reported better-than-expected Q3 FY24 results with a slight sales decline but beating analyst estimates. Adjusted EPS was $1.17, surpassing the $1.05 consensus. The company anticipates FY24 organic sales growth between -1% to 0% and adjusted EPS growth of 4% to 5%. Following the announcement, analysts from Wells Fargo, Mizuho, Stifel, JP Morgan, TD Cowen, Morgan Stanley, HSBC, and B of A Securities adjusted their price targets on General Mills.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 6:56 pm

BABA

BILI

Alibaba has sold its American Depositary Receipts (ADRs) in the streaming site Bilibili for a total of $357.8 million, according to a Bloomberg report. This move could indicate a strategic shift or a decision to liquidate part of its investment portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 6:49 pm

BABA

BILI

Bilibili shares are trading lower following reports that Alibaba has sold Bilibili ADRs, raising $357.8 million.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 6:49 pm

LUV

Southwest Airlines Co. (NYSE:LUV) has successfully ratified a 5-year collective bargaining agreement with nearly 18,000 of its Ramp, Operations, Provisioning, and Cargo Agents, represented by TWU 555. This agreement, which is the second-largest among the airline's 12 labor contracts, includes compensation increases, a bonus, and provisions for company-paid maternity and parental leaves. This development is part of a broader trend at Southwest, where 10 union-represented workgroups have ratified new agreements since October 2022, covering over 41,000 employees.

Portfolio Pulse from Happy Mohamed

March 21, 2024 | 6:48 pm

GES

Guess?, Inc. (NYSE:GES) reported Q4 earnings of $2.01 per share, surpassing the consensus estimate of $1.56, with sales of $891.05 million beating estimates of $855.54 million. The company declared a special dividend of $2.25 per share, expects Q1 revenue to grow 1-2%, and forecasts FY2025 revenue to increase 11.5-13.5% with earnings of $2.56-$3.00 per share. CEO Carlos Alberini highlighted plans for growth, including exceeding $3 billion in revenues. Shares surged 22.8% to $31.87. Telsey Advisory Group and Small Cap Consumer Research raised their price targets on Guess?.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 6:48 pm

KBH

KB Home (NYSE:KBH) exceeded Q1 FY24 estimates with revenue of $1.47 billion and EPS of $1.76, prompting several analysts to raise their price targets. RBC Capital, Wedbush, Wells Fargo, and UBS have all adjusted their forecasts upwards, citing strong demand and improved sales and marketing efforts. KB Home anticipates FY24 housing revenues between $6.5 billion to $6.9 billion, with average selling prices between $480,000 and $490,000. Despite the positive outlook, KBH shares dropped 1.03% to $69.17.

Portfolio Pulse from Lekha Gupta

March 21, 2024 | 6:47 pm

AZN

MRK

Merck & Co Inc's (NYSE:MRK) Phase 3 KEYLYNK-006 trial of Keytruda in combination with Lynparza for metastatic nonsquamous non-small cell lung cancer failed to meet its primary endpoints of overall survival and progression-free survival. This follows previous trial failures in prostate and lung cancer treatments involving Keytruda and Lynparza, a drug co-developed with AstraZeneca Plc (NASDAQ:AZN). Despite these setbacks, MRK shares saw a slight increase of 0.11% to $123.99.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 6:46 pm

LOW

Deep-pocketed investors have shown a bearish sentiment towards Lowe's Companies (NYSE:LOW), with a significant move in options activity detected by Benzinga. The activity includes 14 extraordinary options trades, with a mix of bullish and bearish sentiments, but leaning more towards bearish with 57%. The trades target a price range of $210.0 to $280.0 for LOW over the next 3 months. Currently, LOW's stock is up by 0.81%, trading at $254.0, with potential overbought signals and an anticipated earnings release in 61 days. Analyst ratings are mixed, with a consensus target price of $252.4.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 6:46 pm

DWAC

Digital World Acquisition Corp. (NASDAQ:DWAC) shares dipped slightly after a significant rise, in anticipation of a vote on its merger with Trump Media & Technology Group (TMTG). Approval of the merger will make TMTG a wholly owned subsidiary of Digital World, which will then be renamed Trump Media & Technology Group Corp. The merger could grant Trump Media access to 87.5 million shares immediately and an additional $30 million in shares if the stock remains above $17.50 for 20 trading days.

Portfolio Pulse from Erica Kollmann

March 21, 2024 | 6:39 pm

FDS

MVLA

YTEN

FactSet Research Systems Inc. (FDS) shares fell by 5.2% after reporting lower-than-expected Q2 revenue and FY24 guidance. Other stocks showed significant movement, with notable gainers including Yield10 Bioscience, Inc. (YTEN) and losers like Movella Holdings Inc. (MVLA).

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 6:39 pm