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BWA

BorgWarner Inc's shares fell by around 11% after reporting Q3 FY23 earnings. Sales grew 12% Y/Y to $3.62 billion, missing the consensus of $3.67 billion. The company lowered the FY23 sales outlook to $14.1 billion - $14.3 billion from $14.2 billion-$14.6 billion. Adjusted EPS of $0.98 beat the analyst consensus of $0.94. The acquisitions of Santroll’s light vehicle eMotor business, Rhombus Energy Solutions, Drivetek, and SSE are expected to increase year-over-year sales by around $63 million.

Portfolio Pulse from Lekha Gupta

November 02, 2023 | 2:27 pm

BROS

SBUX

Shares of Dutch Bros Inc (NYSE:BROS) are trading higher by 4.97% to $25.14, potentially in sympathy with Starbucks Corp's better-than-expected Q4 FY23 results. Starbucks' performance is often used as a benchmark for the coffeehouse industry, and its positive earnings can create a positive momentum in the sector, causing investors to pay more attention to related stocks like Dutch Bros.

Portfolio Pulse from Henry Khederian

November 02, 2023 | 2:26 pm

PLTR

Palantir Technologies has raised its FY23 revenue outlook from $2.21 billion to a range of $2.216 billion to $2.22 billion, slightly above the previous estimate of $2.21 billion.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 2:25 pm

BABA

NVDA

Chinese scientists and the Semiconductor Manufacturing International Corporation have developed a new chip, ACCEL, that outperforms Nvidia's AI chips in tasks like image recognition and autonomous driving. The ACCEL chip is not ready to replace existing chips but holds potential for integration into wearable devices, electric cars, and smart factories. This could boost China's competitiveness in AI applications and may cost Nvidia orders worth $5 billion from Alibaba.

Portfolio Pulse from Anusuya Lahiri

November 02, 2023 | 2:25 pm

Cigna Corporation has reported Q3 FY23 sales of $49.08 billion, up 8% Y/Y, beating the consensus of $48.20 billion. This growth is attributed to strong performance across Evernorth Health Services and Cigna Healthcare. The company also revised its FY23 adjusted EPS guidance to at least $24.75, up from $24.70, and projected FY23 revenues of at least $192 billion. Cigna's shares are up 0.87% at $312.11.

Portfolio Pulse from Vandana Singh

November 02, 2023 | 2:21 pm

DIS

DKNG

PENN

Penn Entertainment reported Q3 revenue of $1.62 billion, slightly down from last year's $1.625 billion but ahead of the Street consensus estimate of $1.61 billion. The company also announced the launch of the ESPN Bet sports betting platform, in partnership with The Walt Disney Company, which will be initially available in 17 states. Penn's shares are up 7% to $21.01.

Portfolio Pulse from Chris Katje

November 02, 2023 | 2:21 pm

APTV

Aptiv PLC reported Q3 FY23 sales growth of 10.8% YoY to $5.11 billion, beating the analyst consensus estimate. However, the company warned of a $180 million revenue impact due to the UAW strike in Q3 and $1.10 per diluted share for the anticipated equity losses from the performance of the Motional autonomous driving joint venture. Following the news, APTV shares traded lower by 17.3%.

Portfolio Pulse from Shivani Kumaresan

November 02, 2023 | 2:17 pm

BTCUSD

MSTR

Equity research firm Canaccord Genuity has set a share price target of $554 for MicroStrategy Incorporated (NASDAQ:MSTR), citing the company's successful adoption of Bitcoin as its primary treasury reserve asset. The firm's valuation methodology includes a 30% premium to MicroStrategy's software business and a 20% premium to its current Bitcoin reserves. MicroStrategy's shares have surged by 242% since August 2020, and the company added 6,067 Bitcoin to its holdings in Q3, bringing its total to 158,245 Bitcoin.

Portfolio Pulse from Murtuza Merchant

November 02, 2023 | 2:17 pm

AAPL

Apple Inc. is expected to release its Q4 financial results on Nov. 2, 2023. Analysts predict earnings of $1.39 per share, up from $1.29 per share a year ago, and revenue of $89.28 billion, down from $90.15 billion. Apple has reportedly stopped efforts to make its Apple Watch and Health app compatible with Android devices. The company's shares gained 1.9% to close at $173.97 on Wednesday. Several analysts have provided their ratings and price targets for Apple.

Portfolio Pulse from Lisa Levin

November 02, 2023 | 2:16 pm

CFLT

LMND

OTLK

PBLA

RCKY

RELY

US stocks traded higher with the Dow Jones index gaining more than 250 points and NASDAQ rising 1.22%. Real estate shares jumped by 2.2%. Initial jobless claims increased by 5,000 to 217,000. Panbela Therapeutics, Rocky Brands, and Lemonade saw their shares rise by 44%, 41%, and 36% respectively. Outlook Therapeutics, Confluent, and Remitly Global saw their shares drop by 45%, 44%, and 29% respectively.

Portfolio Pulse from Lisa Levin

November 02, 2023 | 2:13 pm