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REVG

Rev Group has increased its FY23 net sales outlook from $2.45B-$2.55B to $2.55B-$2.60B, which is above the estimated $2.53B.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 11:04 am

ALNY

Shares of Alnylam Pharmaceuticals have been halted ahead of the FDA Cardiovascular and Renal Drugs Advisory Committee meeting on the supplemental New Drug Application (sNDA) for Onpattro.

Portfolio Pulse from Charles Gross

September 13, 2023 | 10:59 am

ALNY

Trading of Alnylam Pharmaceuticals' shares has been halted, with news pending.

Portfolio Pulse from Charles Gross

September 13, 2023 | 10:56 am

AAPL

QQQ

SPY

Inflation concerns are causing volatility in the index futures, with a weaker-than-expected inflation print potentially leading to a strong gain. The Nasdaq Composite and the S&P 500 indices retreated on Tuesday, influenced by a negative reaction to Apple's iPhone launch event. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell in premarket trading on Wednesday. Ford Motor Co. and General Motors Corp. saw a rise in premarket trading on hopes of a resolution to the standoff with the UAW.

Portfolio Pulse from Shanthi Rexaline

September 13, 2023 | 10:41 am

SAVE

Spirit Airlines has revised its Q3 revenue forecast to $1.245B-$1.255B, down from the previous estimate of $1.30B-$1.32B. The company also expects its adjusted operating margin to be between (14.5)% and (15.5)%, a significant drop from the prior range of (5.5)% to (7.5)%.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 10:26 am

SAVE

Spirit Airlines, Inc has revised its Q3 revenue forecast to $1.245B-$1.255B, down from the previous estimate of $1.30B-$1.32B, and below the estimated $1.32B. The adjusted operating margin is also expected to be worse, at (14.5)%-(15.5)%, compared to the prior (5.5)% to (7.5)%.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 10:23 am

FARM

Farmer Brothers Company (NASDAQ:FARM) reported Q4 FY23 sales growth of 1% YoY to $85.496 million, beating the analyst consensus. However, gross profit decreased 22.7% to $27.8 million and the operating loss expanded to $(10.1) million from $(705,000) last year. The company held $5.4 million in cash and equivalents as of June 30, 2023. EPS of $(0.84) missed the consensus estimate of $(0.61). The company is planning for positive free cash flow by the fiscal year-end and is evaluating strategic opportunities to improve its liquidity position. FARM shares closed lower by 6.67% at $1.82 on Tuesday.

Portfolio Pulse from Shivani Kumaresan

September 13, 2023 | 10:13 am

ORCL

SPY

US markets closed lower on Tuesday, September 12, with significant declines in the information technology and communication services sectors. The Nasdaq Composite declined due to a sharp drop in Oracle's stock following disappointing results. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Exchange all recording losses. European markets were down ahead of US inflation data, with the European STOXX 600 index, Germany's DAX index, France's CAC 40, and the U.K.'s FTSE 100 all trading lower.

Portfolio Pulse from Akanksha Bakshi

September 13, 2023 | 10:09 am

CODA

Coda Octopus Group has revised its FY23 revenue expectations to be in line with FY22's $22.2M, down from the previous target of $26M. This is due to the slow pace of conversion of opportunities into firm orders during Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 10:05 am

ACB

CGC

EPM

GRNT

NIO

PKX

SQSP

XPEV

Several US-listed stocks traded lower in Wednesday's pre-market session. Evolution Petroleum Corporation (EPM) dipped 13.9% after reporting downbeat Q4 results. Aurora Cannabis (ACB), Canopy Growth Corporation (CGC), Granite Ridge Resources (GRNT), WeWork (WE), POSCO Holdings (PKX), Squarespace (SQSP), XPeng (XPEV), and NIO (NIO) also recorded losses. Squarespace priced its secondary offering of 5 million class A common shares at $29 per share. Shares of China EV makers fell following report of possible EU tariffs.

Portfolio Pulse from Lisa Levin

September 13, 2023 | 10:02 am