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ALV

Autoliv has increased its FY23 organic sales growth outlook from 15% to 17%.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 10:06 am

ALV

Autoliv reported encouraging Q3 performance and improved supply chain stability throughout the year. The company has increased its full-year sales indication, reflecting that Light Vehicle Production (LVP) has developed better than expected, even with the UAW strike.

Portfolio Pulse from Charles Gross

October 20, 2023 | 10:05 am

Regions Finl (NYSE:RF) reported Q3 earnings of $0.49 per share, missing the analyst consensus estimate of $0.58 by 15.52%. This is a 12.5% decrease from the same period last year. The company also reported quarterly sales of $1.86 billion, missing the analyst consensus estimate of $1.89 billion by 1.69%. This is a 0.54% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 10:02 am

CSIQ

ENPH

FSLR

ISRG

MTC

NOVA

RUN

SEDG

SPWR

WDFC

Several stocks traded lower in Friday's pre-market session, including SolarEdge Technologies, Enphase Energy, SunPower Corporation, Intuitive Surgical, MMTEC, Sunrun, Sunnova Energy International, Canadian Solar, First Solar, and WD-40 Company. SolarEdge's shares tumbled after the company issued preliminary Q3 revenue results below estimates and lowered its non-GAAP gross margin forecast. Enphase Energy's shares fell in sympathy with SolarEdge. SunPower's shares fell after JP Morgan maintained the company with an Underweight. Intuitive Surgical's shares declined after the company reported mixed Q3 financial results. MMTEC's shares fell after a significant jump on Thursday. Sunrun, Sunnova Energy, and Canadian Solar saw their shares decline after Deutsche Bank downgraded them. First Solar's shares declined, and WD-40 Company's shares fell after the company issued a weak earnings forecast for FY24.

Portfolio Pulse from Lisa Levin

October 20, 2023 | 10:00 am

NVDA

KeyBanc Capital Markets analyst John Vinh has cut the price target for Nvidia Corp. (NASDAQ:NVDA) from $750 to $650 due to fresh U.S. restrictions on chip sales to China. Despite this, Vinh maintains an Overweight rating on Nvidia shares and expects the company to finish strong in 2023. He anticipates a marginal near-term effect on Nvidia from the updated U.S. export restrictions and expects China to accelerate purchases ahead of the Nov. 15 implementation of the new export controls.

Portfolio Pulse from Shanthi Rexaline

October 20, 2023 | 9:54 am

SEDG

SolarEdge Technologies Inc (NASDAQ:SEDG) shares dropped by over 24% after the company reported weak preliminary Q3 FY23 results. The company lowered its Q3 revenue outlook to $720 million-$730 million from $880 million-$920 million and adjusted gross margin outlook to 20.1%-21.1% from 28%-31%. The company also expects significantly lower revenues in Q4 2023 due to continued inventory destocking process.

Portfolio Pulse from Lekha Gupta

October 20, 2023 | 9:49 am

SEDG

Deutsche Bank analyst Corinne Blanchard has downgraded SolarEdge Technologies from Buy to Hold and lowered the price target from $300 to $150.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 9:17 am

NOVA

Deutsche Bank analyst Corinne Blanchard has downgraded Sunnova Energy Intl (NYSE:NOVA) from Buy to Hold and lowered the price target from $23 to $12.5.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 9:15 am

RUN

Deutsche Bank analyst Corinne Blanchard has downgraded Sunrun (NASDAQ:RUN) from Buy to Hold and lowered the price target from $27 to $15.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 9:13 am

HBAN

Huntington Bancshares Incorporated (NASDAQ:HBAN) is expected to report lower Q3 earnings at 32 cents per share, down from 39 cents per share a year ago. The company's revenue is projected to be $1.82 billion, slightly lower than the $1.84 billion reported in the same period last year. The company's shares fell 0.8% to close at $10.03 on Thursday. Several analysts have recently adjusted their price targets for the company, with most maintaining a Neutral or Buy rating.

Portfolio Pulse from Lisa Levin

October 20, 2023 | 7:37 am