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SNDL

SNDL Inc. reported its Q2 financial results, showing a 9.31% YoY increase in sales at C$244.51 million, marking an all-time high quarterly revenue. Gross margin also increased by 21% YoY to C$51.9 million. The company attributes these increases to cost-saving measures, supply chain efficiencies, improved pricing strategies, economies of scale, and product mix optimization. SNDL's shares are trading 6% higher at $1.68.

Portfolio Pulse from Erica Kollmann

August 16, 2023 | 3:52 pm

SLX

X

The World Trade Organization (WTO) ruled that China overstepped its trade agreements by imposing tariffs on $2.4 billion of U.S. goods, breaching the organization's 'most favored nation' principle. The dispute dates back to the Trump administration's tariffs on steel and aluminum. In response to the ruling, United States Steel Corporation (NYSE:X) and the VanEck Vectors Steel ETF (NYSE:SLX) surged 0.6% on Wednesday.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 3:50 pm

PFGC

Performance Food Group Co (PFGC) reported Q4 FY23 sales growth of 1.9% Y/Y to $14.87 billion, missing the consensus of $15.07 billion. Net sales for Foodservice decreased 1.1% Y/Y, Vistar increased 18.3% Y/Y, and Convenience rose 2.3% Y/Y. Gross profit increased 12.0% Y/Y to $1.7 billion. The company bought back shares worth $11.2 million in Q4. PFGC expects Q1 FY24 net sales of $14.7 billion-$15.0 billion and adjusted EBITDA of $360 million-$380 million. PFGC shares are trading higher by 8.2% at $62.19.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 3:40 pm

EVG

JPM

UBS

El Salvador's embrace of Bitcoin has led to a bond rally with 70% returns, attracting investors who had previously avoided the country's securities. These returns are the highest among dollar bonds from emerging markets in 2023. JPMorgan Chase & Co, Eaton Vance, and PGIM Fixed Income have recommended or purchased the debt, anticipating further growth. Other firms including Lord Abbett & Co LLC, Neuberger Berman Group LLC, and UBS Group AG have also added the debt since April.

Portfolio Pulse from Murtuza Merchant

August 16, 2023 | 3:39 pm

EWY

SPY

VGK

The U.S. Treasury Department has issued new sanctions related to Russia and North Korea. This could potentially impact the global market and specific ETFs such as EWY, SPY, and VGK.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:38 pm

ADM

Archer-Daniels Midland (NYSE:ADM) has outperformed the market over the past 20 years, producing an average annual return of 9.55%. If an investor had bought $1000 of ADM stock 20 years ago, it would be worth $6,228.85 today. The company currently has a market capitalization of $44.21 billion.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 3:30 pm

YUM

Yum Brands (NYSE:YUM) has outperformed the market over the past 15 years, producing an average annual return of 11.57%. If an investor had bought $100 of YUM stock 15 years ago, it would be worth $517.19 today.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 3:30 pm

HE

Trading of Hawaiian Electric Industries (HE) shares has resumed.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:26 pm

TJX

TJX Cos executive has projected the company's full year consolidated sales to be in the range of $53.5B-$53.8B, which is higher than the estimated $53.19B.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:25 pm

AMC

AMC Entertainment Holdings Inc's shares are trading lower after Roth MKM analyst Eric Handler reiterated a Sell rating and a price target of 50 cents, citing an 'upside down capital structure'. Despite improving EBITDA, AMC continues to burn through cash and issue shares to maintain liquidity. Handler believes AMC's shares are trading at an irrational valuation and would need to generate $978 million of adjusted EBITDA to justify its current price. A 10-for-1 reverse stock split will go into effect on Aug. 25, increasing the total number of authorized shares of AMC's Class A common stock from approximately 524.2 million to 550 million.

Portfolio Pulse from Adam Eckert

August 16, 2023 | 3:22 pm