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SPY

The Philadelphia Fed Manufacturing Index for August came in at 12, beating the estimated -10 and improving from the prior -13.5.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:31 pm

STLA

Stellantis NV (NYSE:STLA) has invested over $100 million in Controlled Thermal Resources Holdings Inc. (CTR) to advance the development of the Hell's Kitchen project, a large geothermal lithium project. The investment is part of Stellantis' decarbonization strategy for battery electric vehicle (BEV) supply chains. CTR will start supplying battery-grade lithium hydroxide monohydrate (LHM) to Stellantis in 2027, supporting Stellantis' U.S. product offensive and Dare Forward 2030 plan. Stellantis aims to become a carbon net zero corporation by 2038.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 12:28 pm

RCRT

Trading of Recruiter.com Group's shares will resume at 8:30 a.m. ET.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:25 pm

EA

MED

TSCO

USNA

Insiders at Electronic Arts (EA), Tractor Supply Company (TSCO), USANA Health Sciences (USNA), and Medifast (MED) have recently sold shares. This could indicate concern in the company’s prospects or that they view the stock as overpriced. However, insider sales should not be the only indicator for making an investment or trading decision.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:22 pm

TJX

TJX Companies Inc reported better-than-expected Q2 earnings with sales growth of 8% YoY to $12.76 billion, beating the analyst consensus estimate of $12.45 billion. The company raised its FY24 adjusted EPS outlook to $3.56 - $3.62, against the consensus of $3.59. Following the earnings announcement, several analysts increased their price targets on TJX.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:22 pm

LITE

Lumentum Holdings reported better than expected fourth-quarter results but provided a below-consensus guidance for the first quarter, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:21 pm

WMT

During a conference call, Walmart announced that it expects its Health and Wellness sector to grow in the latter half of the year, primarily due to the popularity of some GLP-1 weight-loss drugs.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:18 pm

NICE

NICE Ltd reported a 10% YoY growth in Q2 FY23 non-GAAP revenue to $581.11 million, beating the consensus of $578.68 million. Non-GAAP revenues from Cloud grew 23% YoY to $381.9 million. The company raised its FY23 Non-GAAP total revenues outlook from $2.35 billion-$2.37 billion to $2.353 billion-$2.373 billion. However, NICE shares traded lower by 2.12% at $207.00 in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 12:17 pm

ALL

Allstate Corporation (NYSE:ALL) reported estimated catastrophe losses of $313 million for July 2023, or $247 million after-tax. The losses include 18 events primarily related to wind and hail events. The company also implemented auto rate increases of 8.2% across 12 locations, resulting in a total brand premium impact of 0.9%. The rate increases are expected to raise annualized written premiums by approximately $2.19 billion for auto insurance and $804 million for homeowners insurance.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:17 pm

AMZN

CVS

Blue Shield of California is ending its partnership with CVS Health's Caremark and is partnering with Amazon, Mark Cuban's Cost Plus Drug Company, and Abarca for drug deliveries, affordable medications, and drug claims processing respectively. The new system aims to eliminate hidden fees and rebates, and is expected to save around $500 million annually. CVS Health shares are trading lower by 6.63% premarket.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 12:17 pm