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NVO

Novo Nordisk's Q3 FY23 sales rose 29% Y/Y to $8.58 billion, beating the consensus of $7.91 billion. Sales of obesity and diabetes drugs increased by 36% to $22 billion in the first nine months of the year. The company's profit before tax jumped 56% and earnings per share surged 58% to $0.73, beating the consensus of $0.71. Novo Nordisk is investing in internal and external capacity to increase supply both short and long-term.

Portfolio Pulse from Vandana Singh

November 02, 2023 | 1:43 pm

ELF

E.L.F. Beauty Inc (NYSE:ELF) reported strong Q2 results, beating estimates with a 76% YoY revenue increase to $215.5 million and earnings of 82 cents per share. The company raised its full-year revenue and earnings guidance above estimates. The stock was trading 10.7% higher at $104.27.

Portfolio Pulse from Adam Eckert

November 02, 2023 | 1:41 pm

SHEL

Shell PLC (NYSE:SHEL) reported a Q3 FY23 revenue decline of 20.3% YoY to $76.35 billion, missing the consensus of $82.96 billion. However, adjusted earnings per ADS for the quarter was $1.86, above the consensus of $1.83. The company also announced a $3.5 billion share buyback program to be completed prior to Q4 2023 results announcement. Shell's shares are trading higher by 2.97% Y/Y at $67.33.

Portfolio Pulse from Akanksha Bakshi

November 02, 2023 | 1:39 pm

MRNA

Moderna Inc (NASDAQ:MRNA) reported a deeper Q3 loss of $(9.53), down from EPS income of $2.53, leading to a drop in its share price. The company's Q3 sales reached $1.8 billion, down from $3.4 billion a year ago. Moderna is resizing its COVID-19 manufacturing footprint to accelerate gross margin expansion. The company expects to return to organic sales growth in 2025, with projected sales of $4 billion in 2024, primarily due to COVID-19 vaccine global sales and the launch of its RSV vaccine.

Portfolio Pulse from Vandana Singh

November 02, 2023 | 1:33 pm

SEDG

SolarEdge Technologies Inc (NASDAQ:SEDG) reported a YoY decrease in earnings and weak top-line results, leading to a drop in its shares. The company's Q3 revenue decreased 27% YoY to $725.3 million, missing estimates of $768.38 million. SolarEdge reported a quarterly loss of 55 cents per share, compared to 91 cents in earnings last year. The company expects Q4 revenue to be between $300 million and $350 million. Multiple analysts downgraded the stock following the results.

Portfolio Pulse from Adam Eckert

November 02, 2023 | 1:30 pm

AFRM

AMZN

Affirm Holdings Inc (NASDAQ:AFRM) shares are trading higher after the company announced an expanded partnership with Amazon.com Inc (NASDAQ: AMZN). The partnership will make Affirm the first pay-over-time option available at checkout on Amazon Business. The new feature will be rolled out on Thursday and is expected to be available for all Amazon Business customers by Black Friday.

Portfolio Pulse from Adam Eckert

November 02, 2023 | 1:29 pm

BTCUSD

UTEN

The ongoing Israel-Hamas conflict has intensified, with concerns raised over potential war crimes due to civilian casualties and destruction. The US has been accused by Iran of being the 'main cause' of crimes in Palestine. Bahrain has suspended all economic relations with Israel. Market reactions reflect the Federal Reserve's decisions and Chairman Jerome Powell's remarks. The US dollar index has declined, Treasury yields are down, and the US 10-Year Treasury Note ETF recorded a rally. Bitcoin is nearing the $36,000 mark, and futures contracts for major US stock indices show positive momentum.

Portfolio Pulse from Piero Cingari

November 02, 2023 | 1:28 pm

PLTR

Palantir's Q3 financial results exceeded expectations, leading to a rise in its share prices. The company also increased its revenue guidance for FY23.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:27 pm

SHOP

Shopify Inc (NYSE:SHOP) reported a 25% YoY increase in Q3 revenue to $1.71 billion, beating the consensus estimate of $1.67 billion. The company's adjusted EPS was $0.24, surpassing analyst estimates of $0.14. Gross merchandise volume rose 22% YoY to $56.2 billion, and merchant solutions revenue increased 24% YoY to $1.2 billion. Shopify expects FY23 revenue growth in the mid-twenties percentage rate, higher than the previous expectation of low-twenties percentage rate. The company's stock has gained 37% YTD.

Portfolio Pulse from Anusuya Lahiri

November 02, 2023 | 1:26 pm

IIPR

Innovative Industrial Properties, Inc. (NYSE:IIPR) reported a 10% YoY increase in total revenues to $77.8 million for Q3 2023. The company also reported net income of $41.3 million, up from $37.3 million in the prior year's period. Total expenses were around $34 million, up from $29.5 million in Q3 2022. The company paid a quarterly dividend of $1.80 per common share and declared dividends of $7.20 per common share for the twelve months ended Sept. 30, 2023. IIPR's shares traded 4.48% higher at $75.84 per share during the pre-market session on Thursday.

Portfolio Pulse from Jelena Martinovic

November 02, 2023 | 1:24 pm