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TILE

Interface has revised its FY23 revenue forecast downwards to $1.245B-$1.265B from the previous $1.285B-$1.310B, against an estimate of $1.30B. The company also provided other financial projections for FY23, including an adjusted gross profit margin of 34.4%, adjusted SG&A expenses of $329 million, and capital expenditures of $32 million.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:35 am

EWU

The U.K. Services Purchasing Managers Index (PMI) for October was reported at 49.5, slightly higher than the estimated 49.2 and the prior figure of 49.2.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:33 am

EWU

The U.K. Composite Purchasing Managers' Index (PMI) for October was reported at 48.7, slightly above the estimated 48.6 and the prior figure of 48.6. This indicates a marginal improvement in the U.K.'s economic activity.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:32 am

SPY

USO

VGK

Russia's Energy Ministry has announced that November exports of crude and petroleum products will decrease by more than 300K barrels/day, compared to the average value of May-June. The ministry also stated that Russia continues to fully participate in the voluntary efforts of OPEC+ to stabilize the energy market.

Portfolio Pulse from Charles Gross

November 03, 2023 | 9:31 am

TILE

Interface (NASDAQ:TILE) reported Q3 adjusted earnings of $0.28 per share, beating the analyst consensus estimate of $0.26 by 7.69%. However, this is a 6.67% decrease from the same period last year. The company's quarterly sales of $311.01 million missed the analyst consensus estimate of $324.75 million by 4.23%, marking a 5.11% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:31 am

CLSK

MARA

RIOT

Bitcoin mining stocks have surged by 10% as Bitcoin nears its 17-month high. U.S.-listed mining companies Marathon Digital, Riot Platforms, and CleanSpark saw their stocks rally 10%-12% amid a broader equity surge. The positive sentiment on Wall Street following a bleak October has been beneficial for cryptocurrency-related stocks. Traders believe that the Federal Reserve’s historic interest rate hiking cycle has ended.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 9:29 am

AAPL

BILL

COIN

FOXF

FTNT

Several US stocks traded lower in Friday's pre-market session. BILL Holdings Inc shares tumbled 33.6% after the company reported Q1 results and lowered its FY24 revenue outlook. Fortinet Inc shares declined 24% after reporting mixed Q3 results and issuing FY23 revenue guidance below estimates. Fox Factory Holding Corp shares dipped 17.1% after reporting downbeat Q3 results and a weak Q4 forecast. Other companies that saw a decline in shares include reAlpha Tech Corp, Lumen Technologies Inc, Opendoor Technologies Inc, Alpine Immune Sciences Inc, Zscaler Inc, Palo Alto Networks Inc, Apple Inc, and Coinbase Global Inc.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 9:20 am

MGA

Magna International has updated its FY23 revenue expectation to $42.1B-$43.1B, a slight decrease from the previous range of $41.9B-$43.5B. The consensus estimate was $42.47B. The company also provided updates on segment sales, adjusted EBIT margin, equity income, interest expense, income tax rate, adjusted net income, and capital spending.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:15 am

BILL

Keybanc analyst Alex Markgraff has downgraded BILL Holdings from Overweight to Sector Weight.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 9:14 am

SQ

Canaccord Genuity analyst Joseph Vafi maintains a 'Buy' rating on Block (NYSE:SQ), but has lowered the price target from $90 to $80.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 8:58 am