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NMRK

Newmark Group has updated its Q4 and FY23 guidance, expecting higher EPS and revenue than previously estimated. The company's updated guidance reflects the continued impact of the current interest rate environment. Newmark expects its Q4 EPS to be $0.42-$0.49, up from $0.30 estimated, and revenue to be $692M-$742M, up from $660.9M estimated. For FY23, the company expects EPS to be $1.02-$1.09, up from $0.87 estimated, and revenue to be $2.415B-$2.465B, up from $2.37B estimated.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:06 pm

MOTS

Motus GI has announced a 1-for-15 reverse stock split, which will begin trading on a split-adjusted basis from November 2.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:04 pm

CNDT

Conduent has revised its FY2023 sales guidance downwards from $3.70B-3.80B to $3.70B-3.72B, which is below the estimated $3.73B. The company's adjusted EBITDA margin is expected to be approximately 10.0%, and its adjusted free cash flow as a percentage of adjusted EBITDA is projected to be around 0%.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:04 pm

RILY

SNCR

TSXV:LMN

Synchronoss Technologies (SNCR) has announced the sale of its Messaging and NetworkX businesses to Lumine Group (TSXV:LMN) for up to $41.8 million. This move is part of an ongoing strategic review process aimed at maximizing shareholder value. The sale will allow Synchronoss to focus on its cloud business and improve its capital structure. The company expects gross margins of over 70% and adjusted EBITDA margins of over 25% by the end of fiscal year 2024. B. Riley Financial (RILY), Synchronoss' largest shareholder, supports the transaction.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:02 pm

OXLC

Oxford Lane Capital has reported a year-on-year increase in its Q3 2023 net asset value (NAV) from $4.34 to $4.81.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:01 pm

TRMB

Trimble has provided its financial outlook for FY23 and Q4, with both revenue and adjusted EPS falling short of estimates. The company expects FY23 revenue to be between $3.757B-$3.797B, compared to the $3.88B estimate, and adjusted EPS to be between $2.58-$2.66, versus the $2.65 estimate. For Q4, Trimble expects revenue to be between $890M-$930M, compared to the $976.46M estimate, and adjusted EPS to be between $0.55-$0.63, versus the $0.68 estimate.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 11:58 am

PKG

TXT

UNP

YELP

Insiders at Textron Inc. (TXT), Yelp Inc. (YELP), Union Pacific Corporation (UNP), and Packaging Corporation of America (PKG) have recently sold shares. This could indicate concern in the companies' prospects or that the insiders view the stocks as overpriced. However, insider sales should not be the only indicator for making an investment or trading decision.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 11:53 am

AMD

MPC

PAYC

PGR

SSTK

SYY

THC

TRNS

ZBRA

Top Wall Street analysts have updated their outlooks on several stocks. Shutterstock's price target was cut from $76 to $60 by Needham, but the stock gained 18.6% to close at $40.68. Marathon Petroleum's price target was increased from $171 to $175 by Raymond James, but the stock fell 0.2% to $151.01. Advanced Micro Devices' price target was slashed from $160 to $140 by Keybanc, and the stock fell 1.8% to $96.77. Sysco's price target was cut from $90 to $80 by Stephens & Co., but the stock gained 1.5% to close at $66.49. Paycom Software's price target was lowered from $399 to $185 by Piper Sandler, and the stock fell 36.5% to $155.65. The Progressive Corporation's price target was increased from $135 to $160 by Morgan Stanley, and the stock rose 0.3% to $158.55. ZoomInfo's price target was slashed from $30 to $17 by Goldman Sachs, and the stock fell 1.9% to $12.71. Transcat's price target was raised from $106 to $108 by HC Wainwright & Co., but the stock fell 3.5% to close at $90.02. Zebra Technologies' price target was cut from $285 to $255 by Needham, but the stock fell 0.2% to close at $209.43. Tenet Healthcare's price target was slashed from $95 to $90 by Raymond James, but the stock gained 0.9% to close at $53.70.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 11:43 am

SXC

SunCoke Energy (SXC) has revised its FY23 outlook. The company now expects net income to be between $49M and $68M, down from the previous estimate of $59M-$76M. Capital expenditures are projected to be around $95M, with operating cash flow between $200M-$215M. Adjusted EBITDA is expected to be on the high end of $250M-$265M, and domestic coke total production is anticipated to be approximately 4M tons.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 11:40 am

GLD

SPY

UUP

On October 31st, U.S. stock markets closed positively with all S&P 500 sectors rising. The Dow Jones, S&P 500, and Nasdaq Composite all saw gains. However, Wall Street’s main indices marked their third straight monthly decline. Asian markets saw mixed results, with Japan’s Nikkei 225 and Australia’s S&P/ASX 200 rising, while China’s Shanghai Composite and Hong Kong’s Hang Seng Index saw minor changes. European markets were also mixed. Commodities saw crude oil rise, while natural gas and gold declined. U.S. futures were down, and the U.S. Dollar Index gained.

Portfolio Pulse from Akanksha Bakshi

November 01, 2023 | 11:39 am