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LLY

Eli Lilly and Company (NYSE:LLY) announced positive topline results from the LIBRETTO-531 study evaluating Retevmo versus physician's choice of the multikinase inhibitors (MKIs) cabozantinib or vandetanib for patients with advanced or metastatic rearranged during transfection (RET)-mutant medullary thyroid cancer (MTC). The study met its primary endpoint, showing a significant and clinically meaningful improvement in progression-free survival (PFS).

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:47 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) stock is showing signs of recovery after a period of weakness due to investor concerns over potential sales decline and margin erosion. The stock ended Monday up 7.33% and has gained 3.42% in pre-market trading. The broader tech sector is also seeing a shift in sentiment due to strong economic data and hopes for a reset of the Fed's inflation target.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 11:40 am

COTY

Coty Inc. reported Q4 FY23 sales growth of 16% YoY to $1.35 billion, beating the consensus of $1.31 billion. Adjusted EPS was $0.01, missing the analyst consensus of $0.02. The company's sales were driven by robust global demand across categories, geographies, and channels. Coty also divested a 3.6% stake in Wella Brand for $150M. The company targets total FY24 adjusted EPS, excluding equity swap, of $0.44-$0.47, implying 16%-25% YoY growth. Coty shares are trading lower by 0.64% at $10.90 in premarket on the last check Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

August 22, 2023 | 11:36 am

ETHUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has introduced its layer-2 solution, Shibarium, to address Ethereum's (CRYPTO: ETH) scalability issues. The solution aims to increase transaction capacity and reduce costs. If SHIB reaches $0.01, an investment of approximately $800 could potentially yield around $1.02 million. Currently, SHIB is trading at $0.00000789, down 4.19% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 11:17 am

DFLI

Dragonfly Energy Holdings Corp (NASDAQ:DFLI) reported a Q2 FY23 sales decline of 10.6% YoY to $19.27 million, missing the analyst consensus of $20.80 million. The company's gross profit for Q2 dropped 41.7% to $4.1 million, and the net loss for the quarter expanded to $(11.7) million from $(1.5) million last year. The company's Q3 outlook is also weak, with expected revenue of $16 million - $20 million, significantly lower than the consensus estimate of $36.35 million.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 11:16 am

NVDA

QQQ

SPY

US stocks are expected to continue their rally, with investors anticipating positive remarks from Federal Reserve Chair Jerome Powell and a strong quarterly report from Nvidia Corp. The tech-heavy Nasdaq Composite Index and the S&P 500 Index both closed higher on Monday, while the Dow Industrials Average and the small-cap Russell 2,000 Index closed lower. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Several companies, including Zoom Video Communications, Baidu, Tesla, and Nvidia, saw their stocks rise in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 11:12 am

DKS

Dick's Sporting Goods reported worse-than-expected Q2 results and lowered its FY23 guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:08 am

DKS

Dick's Sporting Goods has lowered its FY2023 adjusted EPS guidance to $11.50 - $12.30, compared to the previous estimate of $13.50. The company expects comparable store sales to be flat to positive 2.0% on a 52-week basis. Capital expenditures are projected to be between $670 to $720 million on a gross basis and $550 to $600 million on a net basis.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:06 am

DKS

Dick's Sporting Goods reported a 1.8% increase in Q2 comparable store sales, compared to a decrease of 5.1% YoY. This growth was driven by a 2.8% increase in transactions and continued market share gains.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:02 am

DKS

Dick's Sporting Goods (NYSE:DKS) reported Q2 earnings of $2.82 per share, missing the analyst consensus estimate of $3.81 by 25.98%. This is a 23.37% decrease from the same period last year. The company also reported quarterly sales of $3.22 billion, missing the analyst consensus estimate of $3.23 billion by 0.19%. This is a 3.60% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:01 am