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ONTO

Onto Innovation has projected its Q3 revenue to be between $205M-$225M, surpassing the estimated $203.8M. The company also expects its adjusted EPS to be between $0.85-$1.05, with an estimate of $0.97.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:47 pm

EARN

Ellington Residential (NYSE:EARN) reported Q2 earnings of $0.17 per share, missing the analyst consensus estimate of $0.22 by 22.73%. This is a 39.29% decrease from the same period last year. The company also reported quarterly sales of $(1.62 million), missing the analyst consensus estimate of $2.13 million by 175.87%. This is a 122.71% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:45 pm

IHE

JNJ

TEVA

XLV

The Supreme Court has temporarily blocked a $6-billion bankruptcy settlement by Purdue Pharma that would protect the Sackler family from civil lawsuits related to the opioid crisis. The court will hear a challenge to the settlement by a U.S. bankruptcy trustee. The decision may have implications for other pharmaceutical companies, including Johnson & Johnson and Teva Pharmaceutical Industries, both of which have faced legal scrutiny related to opioids. Related ETFs include the Health Care Select Sector SPDR Fund and the iShares U.S. Pharmaceuticals ETF.

Portfolio Pulse from Michael Cohen

August 10, 2023 | 8:44 pm

VSTO

Vista Outdoor Inc. (NYSE:VSTO) is rebranding its Outdoor Products business as The Kinetic Group, with the new NYSE ticker 'HUNT', following the planned spinoff of the business. The new name for the Outdoor Products company will be announced in the coming weeks. The rebranding is part of Vista Outdoor's plan to separate its Sporting Products and Outdoor Products segments into two independent, publicly traded companies. The separation is expected to be completed in 2023.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 8:43 pm

UPH

UpHealth has projected its FY23 revenue to be at the top end of the $127M-$135M range, slightly below the estimated $135.65M.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:41 pm

CMDY

The annual inflation rate in the U.S. ticked up to 3.2% in July, slightly below the anticipated 3.3%. The focus now shifts to the producer price index (PPI) inflation gauge due for release on Friday. Economists predict a 0.7% increase in the annual PPI for July, breaking a 12-month decline. The Bloomberg Commodity Index, tracked by the iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY), surged almost 6% in July, potentially impacting the PPI as commodities make up about 30% of the PPI basket. However, investors believe the Federal Reserve is about to end its rate-tightening campaign.

Portfolio Pulse from Piero Cingari

August 10, 2023 | 8:41 pm

NWS

News Corporation (NASDAQ:NWS) reported Q4 earnings of 14 cents per share, beating the analyst consensus estimate of nine cents, but a decrease of 62.16% from the same period last year. The company missed on sales, reporting $2.43 billion against the estimated $2.48 billion. Digital revenues accounted for over 50% of total revenues for the full year. The company's shares were trading lower after-hours.

Portfolio Pulse from Ryan Gustafson

August 10, 2023 | 8:40 pm

WISH

ContextLogic Inc. (NASDAQ:WISH) shares fell on Thursday, continuing a trend that has seen the stock drop nearly 60% year-to-date. The company reported Q2 losses of $3.38 per share, beating analyst estimates, but missed on sales with $78 million against the expected $94.25 million. The company's board also approved a workforce reduction of 34%, causing the stock to trade lower. Loop Capital downgraded the stock from Hold to Sell and announced a $7 price target.

Portfolio Pulse from Ryan Gustafson

August 10, 2023 | 8:36 pm

VIAV

Viavi Solutions has projected its Q1 adjusted EPS to be between $0.09 and $0.11, lower than the estimated $0.12. The company also expects its net revenue to be between $240M and $260M, which is less than the estimated $268.53M.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:36 pm

DHR

A significant bearish stance has been taken on Danaher (NYSE:DHR) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 27% bullish and 72% bearish. The targeted price range for Danaher over the last 3 months is from $200.0 to $267.5. The current price of DHR is up 0.52% at $257.38. Analysts from Stifel, RBC Capital, Raymond James, and Barclays have maintained their ratings on Danaher, with price targets ranging from $240 to $292.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 8:33 pm