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SPY

USA Durable Goods Orders for July have decreased by 5.2%, which is more than the estimated decrease of 4.0%. The prior figure was a 4.7% increase.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 12:30 pm

WOOF

Petco Health and Wellness Co Inc (NASDAQ:WOOF) shares dropped by around 13% after the company reported Q2 FY23 results and lowered the FY24 EPS outlook. Q2 sales were $1.53 billion, up 3.4% Y/Y, driven by strength in the consumables business and services & other business. However, adjusted net income decreased to $16.3 million from $43.5 million in the prior-year quarter. The company also initiated a cost action plan, expecting annualized gross run-rate cost savings of $150 million by the end of FY25.

Portfolio Pulse from Lekha Gupta

August 24, 2023 | 12:24 pm

BABA

FXI

KWEB

Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher along with iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) as the U.S. extends its one-year exemption on semiconductor tech embargo for China. Alibaba's corporate communication tool, DingTalk, plans to embed a large language model into its software across 17 products and 55 use cases.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 12:21 pm

DLTR

Dollar Tree Inc (NASDAQ:DLTR) reported Q2 FY23 sales growth of 8.2% YoY to $7.33 billion, beating the analyst consensus. Same-store sales increased 6.9%, with Dollar Tree and Family Dollar seeing increases of 7.8% and 5.8% respectively. Gross profit for the quarter gained 0.5% YoY to $2.13 billion, but operating income plunged 43.1% to $287.8 million. The company raised its FY23 sales guidance and tightened its EPS outlook. Despite the positive results, DLTR shares are trading lower by 6.67% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 12:15 pm

DAO

NTES

NetEase, Inc reported Q2 FY23 revenue growth of 3.7% to $3.31 billion, missing the consensus of $3.46 billion. Games and related services revenues grew 3.6% to $2.59 billion. Youdao, Inc revenue climbed by 26.2% to $166.4 million. Cloud Music's revenues were $268.7 million, down by 11.1%. Innovative businesses and other revenue rose 9.9% to $283.7 million. NetEase held $13.7 billion in cash and equivalents and generated $1.1 billion in operating cash flow. The board approved a dividend of $0.5250 per ADS for Q2.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 12:14 pm

DOGEUSD

SHIBUSD

Former professional football player Antonio Brown declared Shiba Inu (CRYPTO: SHIB) as the next Dogecoin (CRYPTO: DOGE) on May 13, 2021, when SHIB was trading at $0.000019 per coin. Currently, SHIB is trading at $0.000008325. If an investor puts $100 in SHIB today and it reaches the levels when Brown first made his statement, the profit would be $128.23 (128.23%), making the total exit value amount to $228.23.

Portfolio Pulse from Mehab Qureshi

August 24, 2023 | 12:14 pm

BA

SPR

Boeing Co (BA) faces another setback with its 737 MAX due to a supplier-related issue with Spirit Aerosystems Holdings, Inc (SPR). Inappropriately drilled holes have been discovered on the aft pressure bulkhead of the aircraft, causing a delay in deliveries. This issue may also affect Boeing's 2023 goal of rolling out at least 400 737s. Despite the challenges, Boeing continues to dispatch unaffected 737s and Spirit has revamped its production techniques to rectify the issue.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 12:12 pm

BKE

PANW

STT

TXT

Insiders at Palo Alto Networks, State Street, Textron, and Buckle have recently sold significant amounts of shares. While insider sales can sometimes indicate concern about a company's prospects, they can also be part of a preplanned sale. Each of these companies has recently reported positive financial news, such as better-than-expected earnings or raised financial outlooks.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 12:09 pm

BNIX

Bannix Acquisition Corp. has received a notification from NASDAQ about non-compliance with listing rules. The company now risks being delisted if it fails to comply with the rules within the stipulated time.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 12:08 pm

CLVR

Clever Leaves has announced a 1-for-30 reverse stock split to comply with Nasdaq listing requirements. This move is aimed at increasing the per-share trading price to satisfy the $1.00 minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 12:07 pm