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CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a decline in Q3 FY23 revenue by 4.5% year-on-year to $1.85 billion, missing consensus estimates of $2.03 billion. The company saw a decrease in project sales and average selling price of modules, though module shipments increased. Gross profit and operating income also fell, with EPS dropping significantly from the previous quarter and year. Despite a decrease in operating cash flow, Canadian Solar has a $2.6 billion e-STORAGE contracted backlog and is making strategic investments in facilities to serve U.S. customers. The Q4 outlook is below consensus estimates, and shares fell 3.53% to $20.23.

Portfolio Pulse from Akanksha Bakshi

November 14, 2023 | 5:27 pm

DIA

GDX

IWM

QQQ

SPY

TAN

TLT

UUP

The October CPI report showed a decrease in the annual inflation rate to 3.2%, below expectations, and a drop in core inflation to 4%, signaling easing inflationary pressures. Financial analysts believe this could lead to a pause in the Fed's rate hikes, potentially avoiding further rate increases in December. Markets reacted positively, with a rally in stocks and a drop in the U.S. dollar and Treasury yields. The Invesco DB USD Index Bullish Fund ETF (UUP) saw a 1.1% decline, while the iShares 20+ Year Treasury Bond ETF (TLT) surged by 2.3%. Stock ETFs like SPDR S&P 500 ETF Trust (SPY), Dow Jones Industrial Average ETF (DIA), Invesco QQQ Trust (QQQ), and iShares Russell 2000 ETF (IWM) experienced significant gains. The VanEck Gold Miners ETF (GDX) and Invesco Solar ETF (TAN) were among the best-performing industries.

Portfolio Pulse from Piero Cingari

November 14, 2023 | 5:27 pm

DIS

Walt Disney Co (NYSE:DIS) stock is trading higher by 1.8% to $91.06, driven by overall market strength after softer-than-expected October CPI figures and the company's announcement of stronger-than-anticipated Q4 adjusted EPS. Disney's Q4 revenue was $21.24 billion, up 5% YoY, with EPS at 82 cents, surpassing the expected 70 cents. Growth was noted in Entertainment and Experiences, while Sports remained unchanged. CEO Bob Iger highlighted the progress made over the past year.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 5:27 pm

AI

AMZN

C3.ai Inc (NYSE:AI) stock is trading higher after announcing an expanded collaboration with Amazon Web Services (AWS), a subsidiary of Amazon.com Inc (NASDAQ:AMZN). The partnership aims to deliver AI solutions to assist customers in overcoming business challenges by combining C3.ai's software with AWS's capabilities. The C3 Generative AI Suite, C3 AI Platform, and C3 AI applications will all operate on AWS, with a focus on efficient onboarding and integrated solutions for organizational efficiency and quick user onboarding.

Portfolio Pulse from Adam Eckert

November 14, 2023 | 5:23 pm

AI

AMZN

C3.Ai shares are trading higher after announcing an expanded collaboration with Amazon Web Services.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:23 pm

TLIS

Talis Biomedical Corp (NASDAQ:TLIS) stock surged 30% after announcing strategic options exploration to enhance shareholder value. The company is considering financing, mergers, or asset divestiture, and is reducing its workforce by 90% and consolidating operations in Chicago. Despite lower revenues in Q3 2023, operating expenses and net losses decreased, with cash reserves reported at $88.0 million as of September 30. Talis Biomedical will not hold a Q3 results conference call but details are in their 10-Q report.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 5:21 pm

TLIS

Talis Biomedical's stock price has risen following the company's announcement that it is exploring strategic options, which could include partnerships, a sale, or other transactions to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:21 pm

AUVI

Applied UV shares are trading lower following the announcement of a $6.4 million upsized underwritten public offering.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:20 pm

LFMD

Cantor Fitzgerald analyst Sarah James has maintained an Overweight rating on LifeMD (NASDAQ:LFMD) and increased the price target from $8 to $9.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:19 pm

AUVI

Applied UV Inc (NASDAQ:AUVI) stock plummeted by 43% to $0.15 after the company announced the pricing of its public offering at $0.15 per unit, aiming to raise $6.4 million in gross proceeds. The offering was increased from $6.0 million and includes options for Aegis Capital Corp. to buy additional shares and warrants. The funds are intended for repaying notes and general corporate purposes, with the offering expected to close on November 16.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 5:18 pm