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FAST

Fastenal has reiterated its expectation for FY23 weighted FASTBin and FASTVend device signings of 23,000-25,000 MEUs.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:55 am

BYND

Mizuho analyst John Baumgartner has downgraded Beyond Meat (NASDAQ:BYND) from Neutral to Underperform and announced a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:52 am

F

GM

HMC

TM

TSLA

A recent survey by Yahoo Finance and Ipsos revealed that 57% of Americans are unlikely to consider purchasing an electric vehicle (EV) for their next vehicle, with concerns around cost, driving range, and charging infrastructure. Among those open to purchasing an EV, Toyota was the most preferred brand, followed by Tesla, Honda, General Motors, and Ford.

Portfolio Pulse from Anan Ashraf

October 12, 2023 | 10:52 am

CMC

Commercial Metals Company (CMC) anticipates a decline in Q1 financial performance compared to Q4 due to seasonally lower shipments, steel product margin compression in North America, and challenging market conditions in Europe.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:49 am

CMC

Commercial Metals (NYSE:CMC) reported Q4 adjusted earnings of $1.69 per share, missing the analyst consensus estimate of $1.81 by 6.63%. This is a 31.02% decrease from the same period last year. However, the company's quarterly sales of $2.21 billion beat the analyst consensus estimate of $2.18 billion by 1.33%, despite being an 8.23% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:47 am

INFY

Infosys has revised its FY24 revenue growth forecast to 1.0%-2.5% in constant currency, down from the previous 1.0%-3.5%. The company also expects an operating margin of 20.0%-22.0%. The consensus revenue estimate was $18.71B.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:45 am

BSQR

Bsquare Corporation has agreed to be acquired by Kontron America for $1.90 per share, implying an equity value of around $38 million. This has led to a rise in Bsquare's share price.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:45 am

DAL

Delta Air Lines has projected its 4Q23 EPS to be between $1.05 and $1.30, compared to the consensus of $1.11. The company also expects total revenue growth of 9%-12% and an operating margin of 9%-11% for the same period. For the full year 2023, Delta anticipates a revenue increase of approximately 20% and an operating margin of around 11.5%.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 10:38 am

C

JPM

KBWB

WFC

Steve Eisman, portfolio manager at Neuberger Berman, reiterated his bearish stance on the banking sector, including JPMorgan Chase & Co. (JPM), Citigroup, Inc. (C), and Wells Fargo & Co. (WFC). He cited pressure on interest margins, excess deposits, and potential regulatory clampdowns as reasons. He also warned against investing in sectors involved with consumer buying that requires financing. The Invesco KBW Bank ETF (KBWB) rose 1.64% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

October 12, 2023 | 10:26 am

AAPL

Apple Inc. is now expected to launch its M3 MacBooks in 2024, contrary to previous rumors suggesting a launch this year. The M3-powered MacBooks, built on Taiwan Semiconductor Manufacturing Company’s (TSMC) 3nm fabrication process, are predicted to offer enhanced performance and power efficiency. The delay in transition to TSMC’s 3nm-based CPUs will cause a drop in shipments in 2023. However, global notebook shipments are projected to see a 4.7% increase in 2024, driven by the easing of inflation and the debut of new products.

Portfolio Pulse from Benzinga Neuro

October 12, 2023 | 10:25 am