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PFE

Pfizer has announced that it will price its Covid-19 drug Paxlovid at nearly $1,400 for a five-day course, more than double what the U.S. government has paid. The drugmaker is expected to offer steep discounts to ensure wide access when commercial sales begin later this year.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:58 pm

LRCX

Lam Research Corporation reported Q1 earnings of $6.85 per share, beating the analyst consensus estimate of $6.07, but marking a 34.26% decrease YoY. Quarterly sales were $3.48 billion, beating the analyst consensus estimate of $3.41 billion, but showing a 31.38% decrease YoY. Cash and equivalents decreased to $5.2 billion. Q1 non-GAAP operating margin increased by 280 basis points QoQ to 30.1%. The company estimates Q2 earnings per share of $7.00 +/- 75 cents, and revenue of $3.7 billion +/- $300 million. LRCX shares were down 2.92% in the after-hours session.

Portfolio Pulse from Ryan Gustafson

October 18, 2023 | 8:54 pm

COST

Costco Wholesale Corp (NASDAQ:COST) announced a CEO transition with Craig Jelinek stepping down at the end of the year. President and COO Ron Vachris will take over as president and CEO on Jan. 1, 2024. Jelinek will remain with Costco through April 2024 in an advisory role. The company also declared a quarterly cash dividend of $1.02 per share. Following the announcement, Costco shares were trading lower by 0.64%.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 8:48 pm

LOW

A significant investor has taken a bearish stance on Lowe's Companies (NYSE:LOW), with 71% of recent trades being bearish. The price range targeted by these investors over the last 3 months is $130.0 to $270.0. The current price of LOW is down -2.37% at $193.46. Truist Securities and Telsey Advisory Group have maintained their Buy and Market Perform ratings respectively, while HSBC has downgraded its action to Hold.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 8:45 pm

STLD

Steel Dynamics has expressed a constructive outlook on the North American steel market, based on domestic steel fundamentals.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:41 pm

LBRT

Liberty Energy has announced that it expects Q4 trends to show seasonal softness, winter weather, and holiday disruptions. However, the company also anticipates that the recent strengthening of commodity prices will drive a modest increase in activity beginning in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:41 pm

LVS

Las Vegas Sands Corp. (NYSE:LVS) reported better-than-expected Q3 financial results, with earnings of 55 cents per share and sales of $2.79 billion, beating analyst consensus estimates. The company also announced a $2 billion stock repurchase authorization through Nov. 3, 2025. Shares of LVS were up 4.08% in the after-hours session.

Portfolio Pulse from Ryan Gustafson

October 18, 2023 | 8:36 pm

NVEC

NVE Corporation reported a year-over-year decrease in Q2 earnings per share (EPS) and sales results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:35 pm

REXR

Rexford Industrial Realty has projected its share of Core FFO to be between $2.16 and $2.18 in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:34 pm

LRCX

Lam Research reported its Q1 financial results and issued guidance, following which its shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:33 pm