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WDC

Western Digital Corp (NYSE:WDC) shares dropped following reports that the company ended merger talks with Japan's Kioxia Holdings due to failure in securing approval from certain Kioxia shareholders. Both companies, facing headwinds in the memory chip space, are reportedly seeking capital infusions and exploring other options to strengthen operations. Western Digital is set to report fiscal first-quarter financial results on Oct. 30, with analysts expecting an earnings loss of $1.90 per share and revenue of $2.65 billion.

Portfolio Pulse from Adam Eckert

October 26, 2023 | 4:27 pm

BSX

Boston Scientific Corp (NYSE:BSX) reported Q3 revenues of $3.53 billion, surpassing Wall Street's estimate of $3.48 billion. The company's sales increased by 11.2% on a reported basis, 11.1% operationally, and 10.2% organically, beating management's estimate of 8.5% - 10.5%. The adjusted EPS was $0.50, higher than the consensus of $0.48. The company revised its FY23 revenue growth guidance to 11% and forecasts an adjusted EPS of $1.99 - $2.02.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 4:26 pm

MPW

Medical Properties Trust has reported its Q3 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:25 pm

STX

Seagate Technology Holdings reported Q1 revenues of $1.454 billion, missing the analyst consensus of $1.530 billion, a 28.6% Y/Y slump. The company also reported an adjusted EPS loss of $(0.22), missing the analyst consensus of $(0.19) loss. Seagate's Q1 adjusted gross margin contracted to 19.8% from 24.5% in the year-ago period. The company expects Q2 revenues of $1.55 billion and an adjusted EPS loss of $(0.10).

Portfolio Pulse from Nabaparna Bhattacharya

October 26, 2023 | 4:24 pm

GWW

W.W. Grainger's shares are trading higher following the company's announcement of better-than-expected Q3 earnings per share (EPS) results. The company also issued its financial year 2023 (FY23) guidance.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:20 pm

AMD

GOOG

INTC

META

MSFT

NVDA

Nvidia Corp's stock is experiencing a selloff following the U.S.'s early implementation of an export embargo on artificial intelligence chips. China accounts for 20%-25% of Nvidia's data center revenues. Despite this, CNBC's Jim Cramer remains optimistic about Nvidia due to increasing demand from Alphabet Inc and Microsoft Corp. The sanctions are expected to increase competition in the U.S., potentially affecting Advanced Micro Devices, Inc and Intel Corp. Nvidia is developing CPUs to support Microsoft's Windows operating system. Lackluster earnings results from Wall Street and Meta Platforms Inc's Q3 revenue report also impacted the stock.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 4:18 pm

AMP

Ameriprise Financial reported better-than-expected Q3 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:18 pm

TXN

A significant amount of unusual options activity has been observed for Texas Instruments (NASDAQ:TXN), indicating a bullish stance by a large investor or institution. The options trades are split between 50% bullish and 50% bearish, with 4 puts and 8 calls. The targeted price range for Texas Instruments over the last 3 months is from $130.0 to $160.0. The current price of TXN is up 2.15% at $144.84.

Portfolio Pulse from Benzinga Insights

October 26, 2023 | 4:17 pm

KVUE

Kenvue has reported its Q3 financial results and has lowered its FY23 adjusted EPS guidance, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 4:16 pm

BRK-A

CVX

OXY

XOM

Berkshire Hathaway has increased its stake in Occidental Petroleum, buying 3.92 million shares between October 23 and 25. This follows Occidental Petroleum's rival, Chevron Corp's, planned acquisition of Hess Corp. Exxon Mobil Corp also recently acquired Pioneer. Berkshire now owns 25% of Occidental.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 4:16 pm