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UBS

UBS Group has reached a $499 million settlement of private antitrust litigation over stock lending, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 2:06 pm

OSIS

OSI Systems, Inc (NASDAQ:OSIS) reported a 22% YoY increase in Q4 revenue to $411.9 million, surpassing the consensus of $384.5 million. The company's security division revenue rose to $269.1 million, healthcare division revenue climbed to $59.5 million, and optoelectronics and manufacturing division revenue was $100.9 million. The gross margin declined by 163 bps to 34.7%, while the adjusted operating margin expanded by 190 bps to 15.6%. The company's FY24 outlook expects revenue growth of over 18% YoY.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 2:06 pm

FRO

Frontline Plc (NYSE:FRO) reported Q2 FY23 operating revenue of $522.15 million, beating the consensus of $336.39 million. The company's net operating income improved to $252.98 million from $67.08 million a year ago. Adjusted EPS was $0.94, beating the consensus of $0.83. The company declared a dividend of $0.80 per share for Q2, payable on September 29, 2023. FRO shares are trading higher by 3.59% at $18.45.

Portfolio Pulse from Lekha Gupta

August 24, 2023 | 2:05 pm

ABBV

CVS

NVS

CVS Health Corp has launched Cordavis, a subsidiary, to work with manufacturers to commercialize biosimilar products in the U.S. pharmaceutical market. Cordavis has contracted with Sandoz, a unit of Novartis AG, to commercialize Hyrimoz, a biosimilar for AbbVie Inc's product Humira. The product is expected to launch in Q1 2024 and will be priced 80% lower than Humira.

Portfolio Pulse from Vandana Singh

August 24, 2023 | 2:04 pm

AAPL

META

MSFT

NVDA

QQQ

SPY

The Market Clubhouse Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, META, and NVDA. The memo provides price levels for these stocks based on a proprietary formula that considers price, volume, and options flow. The memo suggests potential bullish and bearish scenarios for each stock and recommends traders to stay alert and adjust their tactics based on the market's pulse.

Portfolio Pulse from RIPS

August 24, 2023 | 2:02 pm

VINE

Fresh Vine Wine Inc (NASDAQ:VINE) shares surged by 16.1% after the company announced it is exploring strategic opportunities to maximize shareholder value. This includes potential mergers, acquisitions, and other strategic options. The company has enlisted Oak Ridge Financial as its exclusive Investment Banker to identify and evaluate opportunities. However, outcomes are uncertain and no specific timeline has been set for completion.

Portfolio Pulse from Henry Khederian

August 24, 2023 | 2:02 pm

VINE

Fresh Vine Wine is exploring strategic opportunities to maximize shareholder value, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 2:02 pm

BURL

Burlington Stores Inc reported Q2 FY23 sales growth of 9% Y/Y to $2.175 billion, almost in line with the consensus of $2.17 billion. Comparable store sales increased by 4%. Adjusted EPS of $0.60 surpassed the consensus of $0.43. However, the company warned of weakness in its core consumer base and narrowed its full-year comparable store sales guidance to a range of 3% to 4%. The company also lowered its FY23 adjusted EPS forecast to $5.60-$5.90, down from prior guidance of $5.50 - $6.00. Following the news, BURL shares fell by 6.59%.

Portfolio Pulse from Vandana Singh

August 24, 2023 | 2:02 pm

AMZN

Amazon.com (NASDAQ:AMZN) has outperformed the market over the past 15 years by 17.77% on an annualized basis, producing an average annual return of 26.36%. If an investor had bought $100 of AMZN stock 15 years ago, it would be worth $3,238.43 today.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 2:01 pm

HPQ

Over the past 3 months, 4 analysts have published their opinion on HP (NYSE:HPQ) stock. The analysts have offered 12-month price targets for HP with an average price target of $30.5. This average price target has increased by 5.17% over the past month. The majority of the analysts are indifferent about the stock.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 2:01 pm