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BLDP

Ballard Power Systems Inc reported a Q3 FY23 revenue growth of 29% YoY to $127.6 million, beating the consensus of $26.20 million. However, the company reported a gross loss of $(2.8) million and an EPS loss of $(0.21), missing the consensus of $(0.13). The company received ~$14.8 million of new orders in Q3 and delivered orders valued at $27.6 million. The company's cash used in operating activities narrowed to $(22) million, compared to $(30.3) million a year ago. Ballard Power's shares are trading lower by 2.25% at $3.48.

Portfolio Pulse from Akanksha Bakshi

November 07, 2023 | 6:29 pm

ITUB

Itau Unibanco Holding's shares are trading higher following the release of their Q3 earnings report.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:25 pm

BOWL

Bowlero Corp's shares surged by 12% following its Q1 FY24 results. Despite sales and same-store revenue declining, the company reported a net income of $18.2 million, compared to a loss of $33.5 million last year. The company also repurchased 12.1 million shares and reiterated its FY24 revenue outlook. Bowlero plans to reinvest heavily in the business, with significant funds allocated for acquisitions, new builds, and conversions. Last month, the company completed a $432.9 million sale-leaseback transaction.

Portfolio Pulse from Lekha Gupta

November 07, 2023 | 6:21 pm

BTI

CGC

OGI

STZ

TAP

Constellation Brands, Inc. (STZ) has let all its warrants to acquire shares of Canopy Growth Corp. (CGC) expire, stating it has no current plans related to Canopy. This means Constellation no longer beneficially owns any of the common shares underlying the warrants. However, through its subsidiaries, it still holds a stake in Canopy amounting to 171.5 million common shares or around 20.7% of the total outstanding shares. Other alcohol companies, such as Molson Coors Beverages Co. (TAP), have also invested in the cannabis industry. Additionally, tobacco company British American Tobacco (BTI) has made a strategic equity investment in Canadian cannabis company Organigram Holdings Inc. (OGI).

Portfolio Pulse from Jelena Martinovic

November 07, 2023 | 6:19 pm

ROVR

Rover reported better-than-expected Q3 financial results and issued Q4 revenue guidance above estimates. The company also raised FY23 revenue guidance above estimates and announced an extension of its share repurchase program. This has led to a rise in Rover's share price.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:18 pm

UNIT

Bank of America has downgraded the stock of Uniti Group, leading to a drop in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:16 pm

EXPE

GNRC

PODD

QQQ

SPY

XLK

The U.S. stock market has seen a record rally in November, with the S&P 500 and Nasdaq 100 experiencing their longest sustained uptrend in two years. The rally was driven by a dovish Fed meeting and softer labor market data. The technology sector outperformed all other sectors within the S&P 500 index, with the Technology Select Sector SPDR Fund (NYSE:XLK) surging by 6.5% month-to-date. The top performing S&P 500 stocks month-to-date include Expedia Group Inc. (NASDAQ:EXPE), Generac Holdings Inc. (NYSE:GNRC), and Insulet Corp. (NASDAQ:PODD).

Portfolio Pulse from Piero Cingari

November 07, 2023 | 6:13 pm

CLOV

Clover Health's shares are trading lower following the release of their Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:12 pm

OLPX

Olaplex reported better-than-expected Q3 financial results and revised its FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:11 pm

ALTO

PXMD

SNTI

VTYX

The article lists the stocks that gained and lost the most in Tuesday's mid-day session. Among the gainers were PaxMedica, Senti Biosciences, Tharimmune, TransMedics Group, and Singular Genomics Systems. Among the losers were Ventyx Biosciences, Alto Ingredients, Worldwide Webb Acquisition Corp, Oportun Financial Corporation, and Royalty Management Holding Corporation.

Portfolio Pulse from Lisa Levin

November 07, 2023 | 6:10 pm