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PHG

Koninklijke Philips has revised its FY23 outlook, expecting to deliver 6-7% comparable sales growth and an Adjusted EBITA margin of 10-11%. The company's confidence is reinforced by its improved performance year-to-date, a strong order book, and ongoing actions, despite uncertainties in the volatile geopolitical environment.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 8:19 am

PHG

Koninklijke Philips (NYSE:PHG) reported Q3 adjusted earnings of $0.36 per share, beating the analyst consensus estimate of $0.33 by 8.79%. This is a 43.6% increase from the same period last year. The company also reported quarterly sales of $4.87 billion, beating the analyst consensus estimate of $4.65 billion by 4.65%, a 11.99% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 8:14 am

MARA

RIOT

The value of Bitcoin surged to around $30,000, impacting the performance of Bitcoin mining stocks Marathon Digital Holdings (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT). Both stocks experienced similar trends, with significant declines during 2022. However, Riot has shown better returns over the past 9 months while Marathon Digital Holdings still lingers in the red. The price of MARA stock on January 1, 2023, was $3.40 and has now risen to $7.76, reflecting a growth rate of 128.24%. The price of RIOT stock stood at $3.37, and it has since increased to $8.87, representing a growth rate of 163.2%.

Portfolio Pulse from Mehab Qureshi

October 23, 2023 | 7:39 am

AAPL

HNHPF

Foxconn Technology Group, a key supplier for Apple Inc., is under investigation by Chinese authorities over tax and land use. The investigations are taking place in provinces where Foxconn manufactures for Apple. The scrutiny comes amid the company founder's campaign for the Taiwanese presidency, which critics argue could make him susceptible to pressure from Beijing.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 7:37 am

AMZN

GOOG

LLY

META

MSFT

PFE

SNAP

Analysts have tempered their expectations for profit growth, anticipating a continuation of the profit-declining trend. The blended year-over-year earnings of S&P 500 companies are expected to decrease by 0.4%, marking the fourth consecutive decline. The decline in earnings is largely due to downward revisions in earnings per share (EPS) estimates for Pfizer, Inc. (NYSE:PFE) and Eli Lilly & Co. (NYSE:LLY). Tech companies are expected to take the spotlight this week with earnings from Meta Platforms, Inc. (NASDAQ:META), Snap Inc. (NYSE:SNAP), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corporation (NYSE:MSFT) and Amazon, Inc. (NASDAQ:AMZN).

Portfolio Pulse from Shanthi Rexaline

October 23, 2023 | 7:15 am

CLF

HIHO

PKG

PRST

WRB

Packaging Corporation of America (PKG), Presto Automation Inc (PRST), Cleveland-Cliffs Inc. (CLF), Highway Holdings Limited (HIHO), and W. R. Berkley Corporation (WRB) are stocks to watch heading into Monday. PKG is expected to report quarterly earnings of $1.92 per share on revenue of $1.99 billion. PRST filed for a mixed shelf of up to $75 million and promoted Justin Foster to Chief Revenue Officer. CLF is expected to earn 44 cents per share on revenue of $5.58 billion. HIHO reported a loss of 8 cents per share for Q1 2024, with net sales falling to $1.35 million. WRB is expected to report quarterly earnings of $1.19 per share on revenue of $3.08 billion.

Portfolio Pulse from Lisa Levin

October 23, 2023 | 7:10 am

AXP

CLF

PKG

SLB

WRB

The CNN Money Fear and Greed index showed an increase in overall fear among US investors, moving closer to the 'Extreme Fear' zone. This was reflected in the US stock market, with all sectors on the S&P 500 closing negatively. American Express Company (AXP) and Schlumberger N.V. (SLB) saw significant share price drops following their Q3 earnings releases. Investors are now awaiting earnings results from W. R. Berkley Corporation (WRB), Cleveland-Cliffs Inc. (CLF), and Packaging Corporation of America (PKG).

Portfolio Pulse from Lisa Levin

October 23, 2023 | 7:10 am

ABCM

DHR

Jonathan Milner, a significant shareholder in Abcam, has urged shareholders to reject the proposed sale of the company to Danaher. Milner believes that the offer of $24 per share significantly undervalues Abcam and that the timing of the sale is inopportune. He also referenced the recent acquisition of Olink by Thermo Fisher, which commanded a strategic premium of 74%, as an example of a high-quality asset securing a substantial strategic premium in a change of control transaction.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 6:57 am

UBER

Uber Technologies Inc. (NYSE:UBER) has launched a hot air balloon service in Turkey's Cappadocia region. The service requires passengers to book 12 hours in advance and costs $159 for a 1.5-hour sunrise balloon ride. This move is part of Uber's strategy to diversify its services and expand its customer base. Despite the company's efforts to diversify, Uber's stock value remains below its peak in 2021.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 6:49 am

STLA

Stellantis NV, the parent company of brands like Fiat, Ram, and Peugeot, plans to outpace Ford Motor Co in the global market for electric vehicle (EV) pickups and vans within the next four years. The company aims to double its revenues from pickups and vans by 2030, with 40% of its global commercial vehicles to be powered by electricity or hydrogen by the same year. Stellantis is trailing Ford by 400,000 units, with 1.6 million vehicles sold in the past year. The company forecasts that it will sell a total of 1.8 million vehicles this year.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 5:56 am