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LCID

Lucid Group reported Q2 earnings with revenue of $150.9 million, missing the Street estimate of $201.9 million, and a loss of 40 cents per share, also missing the estimate of a loss of 35 cents. The company delivered 1,404 vehicles in Q2 and ended the quarter with $6.25 billion in total liquidity. Lucid plans to start production of the Lucid Air Sapphire and the Lucid Air Pure Real Wheel Drive in mid-September and aims to manufacture 10,000 vehicles in 2023.

Portfolio Pulse from Chris Katje

August 07, 2023 | 8:25 pm

PARR

Par Pacific Holdings (NYSE:PARR) reported Q2 earnings of $1.73 per share, beating the analyst consensus estimate of $1.20 by 44.17%. However, this is a 47.73% decrease from the same period last year. The company also reported quarterly sales of $1.78 billion, beating the analyst consensus estimate of $1.57 billion by 13.63%, but this is a 15.29% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:25 pm

MRC

MRC Global reported Q2 earnings of $0.25 per share, missing the analyst consensus estimate of $0.36 by 30.56%. This is a 7.41% decrease from the same period last year. The company also reported quarterly sales of $871.00 million, missing the analyst consensus estimate of $910.15 million by 4.30%. This is a 2.71% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:23 pm

IMCC

IM Cannabis Corp. (NASDAQ:IMCC) has received a warning from NASDAQ as its stock price fell below the $1 minimum bid price requirement. The company has until January 29, 2024, to regain compliance or face potential delisting. The company's shares bounced back above the $1 mark on August 2, but must maintain a closing bid price of no less than $1 for a minimum of 10 business days to regain compliance. IM Cannabis Corp. is known for supplying medical cannabis primarily to clients in Israel and Germany.

Portfolio Pulse from Joana Scopel

August 07, 2023 | 8:22 pm

IFF

IFF has revised its FY23 revenue guidance downwards from $12.3B to $11.3B-$11.6B, citing continued customer destocking and a significant decline in Functional Ingredients. The company also expects its full year 2023 adjusted operating EBITDA to be in the range of $1.85B-$2.0B, down from the previous estimate of $2.34B. The revised EBITDA guidance includes approximately $180M of higher manufacturing absorption costs related to the company's inventory reduction program. Foreign exchange is expected to have a 2% adverse impact on sales growth and a 6% adverse impact on EBITDA growth in 2023.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:20 pm

SRC

Spirit Realty Cap (NYSE:SRC) reported Q2 earnings of $0.91 per share, a 1.11% increase YoY. However, the company's quarterly sales of $189.30 million missed the analyst consensus estimate of $190.62 million by 0.69%.

Portfolio Pulse from sunil@benzinga.com

August 07, 2023 | 8:19 pm

CAPL

CrossAmerica Partners (NYSE:CAPL) reported Q2 earnings of $0.36 per unit, a 2.86% increase from the same period last year. However, the company's quarterly sales of $1.15 billion missed the analyst consensus estimate of $1.20 billion by 4.42%, marking a 22.37% decrease from last year's sales.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:18 pm

GE

A significant amount of unusual options activity has been observed for General Electric (NYSE:GE), with a mix of bullish and bearish stances. The trades include 3 puts amounting to $112,489 and 15 calls amounting to $768,345. Whales have been targeting a price range from $80.0 to $120.0 for GE over the last 3 months. The current price of GE is up 1.48% at $114.73, with RSI indicators suggesting it may be approaching overbought.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 8:15 pm

C

A significant amount of unusual options activity has been observed for Citigroup (NYSE:C), with 62% of investors opening trades with bullish expectations and 37% with bearish. The trades include 13 puts and 14 calls, with whales targeting a price range from $30.0 to $75.0 for Citigroup over the last 3 months. Analysts have mixed views on Citigroup, with ratings ranging from Outperform to Underweight and price targets from $45 to $88.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 8:15 pm

NSA

National Storage (NYSE:NSA) reported Q2 earnings of $0.68 per share, a 4.23% decrease YoY. The company's quarterly sales were $215.51M, missing the analyst consensus estimate of $216.35M by 0.39%. However, this is an 8.36% increase over sales of $198.89M the same period last year.

Portfolio Pulse from sunil@benzinga.com

August 07, 2023 | 8:15 pm