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LLY

NVO

Novo Nordisk reported a 29% YoY increase in H1 sales to $15.89 billion and a 43% increase in net profit to $5.8 billion. The company raised its FY23 guidance due to strong H1 results. Sales of its obesity drug Wegovy jumped 365% in H1. The company's stock rallied over 17% on Tuesday after positive results for a trial that evaluated semaglutide 2.4 mg for preventing major cardiovascular events.

Portfolio Pulse from Shanthi Rexaline

August 10, 2023 | 7:49 am

BABA

DIS

ILMN

NWSA

USFD

US Foods Holding Corp., The Walt Disney Company, Alibaba Group Holding Limited, Illumina, Inc., and News Corporation are the stocks to watch heading into Thursday. US Foods and Alibaba are expected to post earnings before the opening bell, while Disney reported better-than-expected earnings for its third quarter. Illumina reported better-than-expected results for its second quarter but lowered its annual profit outlook. News Corp is expected to report earnings after the closing bell.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 7:36 am

NVO

Novo Nordisk has raised its FY23 guidance, now expecting sales and operating profit growth of 27%-33% at constant currency, up from the previous estimate of 24%-30%. The growth reported in Danish kroner is expected to be 6 and 9 percentage points lower than at CER.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 7:33 am

FLYW

Flywire has announced the pricing of its underwritten public offering of 8 million shares of common stock at $32 per share.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 7:07 am

MRUS

Merus has announced the pricing of its $150M public offering of 6,818,182 common shares at $22 per share.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 7:01 am

ARMK

Aramark has announced the pricing of its secondary offering of 21,262,245 shares of its common stock at $39.75 per share.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:30 am

INVZ

Innoviz Technologies has priced its upsized public offering of 26 million ordinary shares at $2.50 per share, raising $65 million in total.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:27 am

CPRI

Capri Holdings Limited (NYSE:CPRI) is expected to report a sharp decline in its Q1 fiscal 2024 earnings on Aug. 10, 2023. Analysts predict earnings of 71 cents per share, down from $1.5 per share in the previous year, and revenue of $1.2 billion, down from $1.36 billion. Meanwhile, Tapestry is reportedly nearing a deal to acquire Capri Holdings. The company's shares fell 1.7% to close at $34.61 on Wednesday. Several analysts have recently downgraded the stock and cut their price targets.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 6:26 am

AAPL

Apple Inc. has won a significant legal victory as the Supreme Court ruled in favor of the company's anti-steering rules, which prevent app developers from directing consumers to alternate payment methods. The ruling will allow Apple to maintain its App Store revenue and reduces the chances of forced changes to App Store policy or rate reductions in the future. Apple's stock ended Wednesday's session down 0.90% at $178.19 but rose 0.13% to $178.43 in after-hours trading.

Portfolio Pulse from Shanthi Rexaline

August 10, 2023 | 6:16 am

BABA

NWSA

PENN

RBLX

USFD

Investor sentiment in the US has declined ahead of fresh inflation data, with US stocks closing lower on Wednesday. PENN Entertainment shares gained over 9% after reporting better-than-expected Q2 results and announcing an exclusive US online sports betting agreement with ESPN. Roblox Corporation shares dipped around 22% after reporting worse-than-expected Q2 results. Investors are awaiting earnings results from US Foods Holding Corp., Alibaba Group Holding Limited, and News Corporation.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 6:15 am