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SPY

USO

US markets closed in the red on October 26 due to mixed quarterly earnings and economic resilience. The Nasdaq saw the largest drop, primarily due to underperformance of mega-cap stocks. The S&P 500's communication services sector experienced the biggest drop, while real estate saw the most significant gain. Asian markets closed higher on October 27, led by gains in various sectors. European markets were mixed, with the STOXX 600 and DAX rising, while the CAC and FTSE 100 declined. Crude oil prices jumped 2.15%, while US futures were up.

Portfolio Pulse from Akanksha Bakshi

October 27, 2023 | 11:18 am

VALE

Vale S.A. (NYSE:VALE) reported Q3 FY23 net operating revenue of $10.62 billion, missing the consensus of $10.937 billion. Iron ore and nickel production fell 4% and 19% Y/Y respectively, while pellet and copper production rose 11% and 10% Y/Y. Adjusted EBITDA rose 12% Y/Y to $4.5 billion. EPS of $0.66 beat the consensus of $0.62. VALE shares are trading lower by 0.23% at $13.00 premarket.

Portfolio Pulse from Lekha Gupta

October 27, 2023 | 11:15 am

NWL

Newell Brands has projected its Q4 revenue to be between $1.96B and $2.03B, which is lower than the estimated $2.17B. The company also expects its adjusted EPS to be between $0.15 and $0.20, compared to the estimated $0.44.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:10 am

NWL

Newell Brands has reduced its FY23 adjusted EPS outlook from $0.80 - $0.90 to $0.72 - $0.77, which is lower than the estimated $0.84.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:08 am

NWL

Newell Brands has reduced its FY23 revenue forecast from $8.2B-$8.34B to $8.02B-$8.09B, which is lower than the estimated $8.3B.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:07 am

AER

AerCap has increased its FY23 adjusted EPS outlook to $9.50 from the previous range of $8.50 - $9.00. However, this is still below the estimated $10.15.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:06 am

ACMR

ACM Research has announced preliminary Q3 revenue estimates of $165M-$168M, which is lower than the estimated $173.69M.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:05 am

BCPC

Balchem (NASDAQ:BCPC) reported Q3 earnings of $1.04 per share, beating the analyst consensus estimate of $0.97 by 7.22%. However, the company's quarterly sales of $229.95 million missed the analyst consensus estimate of $237.08 million by 3.01%. This represents a 5.86% decrease over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:05 am

PSX

Phillips 66 (NYSE:PSX) reported Q3 earnings of $4.63 per share, missing the analyst consensus estimate of $4.76 by 2.73%. This is a 28.33% decrease from the same period last year. However, the company reported quarterly sales of $40.32 billion, beating the analyst consensus estimate of $38.96 billion by 3.49%. This is a 17.32% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 11:04 am

CL

Colgate has revised its FY23 net sales growth forecast to 6-8%, up from the previous range of 5-8%.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 10:58 am