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VMW

VMware shares are trading lower following a Financial Times report suggesting that China is considering delaying approval of the company's deal with Broadcom.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:26 pm

LNN

Lindsay Corporation reported better-than-expected Q4 financial results and issued Q1 2024 guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:21 pm

LVS

Las Vegas Sands (NYSE:LVS) reported strong 3Q earnings, beating analyst estimates with a revenue of $2.8B, almost 3x last year's level. Adjusted property EBITDA of $1.12B was above last quarter's $973MM and significantly higher than last year's $191MM. The company's focus on the high-margin premium mass market has paid off, with property-level EBITDA margins of 40.1%. The company has also increased its stock buyback authorization to $2B and re-initiated the dividend at $.20/quarter. The strong results and increased capital return to shareholders are expected to be positively received by the market.

Portfolio Pulse from Gary Brode

October 19, 2023 | 2:20 pm

GS

Unusual options activity has been observed for Goldman Sachs Gr (NYSE:GS), with a split sentiment of 50% bullish and 50% bearish among big-money traders. The options trades include 4 puts amounting to $228,955 and 8 calls amounting to $307,617. The targeted price range for GS over the last 3 months is from $240.0 to $390.0. Analysts from Oppenheimer, JMP Securities, Citigroup, and Morgan Stanley have maintained their ratings on GS with varying price targets.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 2:16 pm

ABBV

A significant bullish stance on AbbVie (NYSE:ABBV) has been observed through unusual options activity. The sentiment among these big-money traders is split between 60% bullish and 40% bearish. The whales have been targeting a price range from $100.0 to $165.0 for AbbVie over the last 3 months. Morgan Stanley maintains an Overweight rating on AbbVie with a price target of $193, while Raymond James downgraded its action to Outperform with a price target of $177.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 2:16 pm

PM

Philip Morris International has revised its FY23 outlook, raising its adjusted diluted EPS forecast to $6.05 - $6.08, up from the previous $5.96 - $6.05. This is slightly below the $6.09 estimate. The company's GAAP EPS is expected to be between $4.95 - $4.98.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:15 pm

FUBO

NFLX

ROKU

Streaming stocks are trading higher following Netflix's better-than-expected Q3 sales results and increased subscription prices. FUBO and ROKU are among the stocks that may benefit from this trend.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:15 pm

KEY

KeyCorp (NYSE:KEY) reported Q3 FY23 revenues of $1.566 billion, down 17.0% Y/Y, in line with consensus. Net interest income was down 23.3% Y/Y to $923 million. Consumer Bank revenue fell 9.8% Y/Y and Commercial Bank was down 10% Y/Y. EPS was 29 cents, beating the street view of 27 cents. Provision for credit losses fell 25.7% Y/Y to $81 million. The CET 1 ratio exceeded its targeted capital range, expanding 50 basis points Q/Q to 9.8%. Average loan rose 2.8% Y/Y to $117.6 billion. Nonperforming loans stood at $455 million, accounting for 0.39% of period-end portfolio loans. Average deposits rose 0.4% Y/Y to $144.8 billion.

Portfolio Pulse from Lekha Gupta

October 19, 2023 | 2:10 pm

IRDM

Iridium Communications Inc (NASDAQ:IRDM) shares are trading lower by around 6% after the company reported Q3 FY23 results. The company reported revenue growth of 7% Y/Y to $197.6 million, missing the consensus of $200.09 million. The company registered a quarterly EPS loss of $(0.01) in Q3, missing the street view of EPS of $0.03. The net loss was primarily due to costs incurred related to the refinancing of Iridium's credit facility in Q3. The company revised its outlook for total service revenue growth to 10% and OEBITDA of $460 million-$465 million.

Portfolio Pulse from Lekha Gupta

October 19, 2023 | 2:10 pm

TFC

Truist Financial Corporation's Q3 revenues fell 2.7% YoY to $5.73 billion, beating the consensus of $5.7 billion. Adjusted EPS was 84 cents, beating the consensus of 82 cents. The company's provision for credit losses was $497 million, up from $234 million in Q3 2022. Truist's CET1 ratio was 9.9% as of Sept. 30. The company is focusing on core clients and paying down higher-cost borrowings to improve its net interest margin. A $750 million cost savings program is underway.

Portfolio Pulse from Nabaparna Bhattacharya

October 19, 2023 | 2:03 pm