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AMCR

Amcor has reaffirmed its fiscal 2024 outlook with an adjusted EPS of $0.67-$0.71, compared to the $0.68 estimate. The company also expects an adjusted free cash flow of $850M-$950M.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:34 pm

AMD

INTC

Advanced Micro Devices, Inc. (AMD) reported Q3 earnings and revenue that exceeded expectations, but the Q4 guidance was in line with estimates, causing the stock to drop in after-hours trading. AMD's Q3 non-GAAP earnings per share (EPS) was 70 cents, up 4% YoY, and revenue grew 4% YoY to $5.8 billion. However, analysts are cautious about Q4, with some expecting a moderate ramp-up of Genoa and potential volume pushout of MI300A at HP/El Capitan. AMD's stock fell 4.06% to $94.36 in after-hours trading.

Portfolio Pulse from Shanthi Rexaline

October 31, 2023 | 8:34 pm

USO

The American Petroleum Institute (API) reported a weekly crude oil stock build of 1.347 million barrels, which is less than the estimated 1.601 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:33 pm

AMCR

Amcor (NYSE:AMCR) reported Q1 earnings of $0.16 per share, beating the analyst consensus estimate of $0.15 by 4%. However, this is a 13.33% decrease from the same period last year. The company also reported quarterly sales of $3.44 billion, beating the estimate of $3.35 billion by 2.78%, but this is a 7.25% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:33 pm

TX

Ternium (TX) anticipates a sequential decrease in Q4 shipments in Argentina due to seasonality and government-imposed restrictions on the importation of inputs required for production by the company and its value chain.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:32 pm

BXC

BlueLinx has projected its Q4 structural product gross margin to be between 9% and 10%. The company also expects its average daily sales volumes to increase slightly on a quarter-over-quarter basis.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:31 pm

TX

Ternium (TX) expects Q4 adjusted EBITDA to decrease compared to Q3, with lower adjusted EBITDA margin partially offset by slightly higher steel shipments. The company anticipates a sequential decrease in steel revenue per ton in Q4, reflecting lower realized prices in Mexico and Brazil. In Mexico, steel consumption is expected to remain strong, while in Brazil, shipments are expected to remain relatively stable. In Argentina, the company anticipates a sequential decrease in Q4 shipments due to seasonality and government-imposed restrictions.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:31 pm

GPN

A significant amount of unusual options activity has been observed for Global Payments (NYSE:GPN), with a majority of investors taking a bullish stance. The targeted price range for Global Payments over the last 3 months is from $90.0 to $110.0. The current price of GPN is up 2.33% at $106.22. Several financial institutions have downgraded their ratings on Global Payments, with price targets ranging from $130 to $154.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 8:31 pm

MDT

A large investor has taken a bullish stance on Medtronic (NYSE:MDT), as evidenced by a significant position in the company's options. The overall sentiment of these big-money traders is split between 60% bullish and 40% bearish. The whales have been targeting a price range from $50.0 to $82.5 for Medtronic over the last 3 months. The current price of MDT is up 0.84% at $70.56.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 8:30 pm

BXC

BlueLinx Holdings Inc. expects its Q4 gross margin for specialty products to be between 18% and 19%. The company also anticipates average volumes to be slightly down quarter-over-quarter, but in line with historical seasonality.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:30 pm