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SPY

The USA Redbook Year-over-Year (YoY) has reported a 2.9% increase, significantly higher than the previous 0.7%.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:56 pm

DIS

Florida Governor Ron DeSantis has lodged a complaint against Walt Disney Co. (NYSE:DIS) over the 'unethical' perks given to district employees. The complaint alleges that millions of dollars in season passes and discounts provided by Disney to governing district employees are unethical. The feud between Disney and DeSantis started a year ago over the 'Don't Say Gay' law passed by Florida. Disney's shares rose 0.30% to $86.44 in premarket trading on Tuesday.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 12:56 pm

DDD

LASE

LUNR

SNCY

TDCX

The article lists the top 5 oversold stocks in the industrials sector, which could present an opportunity for investors. The companies mentioned are Laser Photonics Corporation (LASE), Intuitive Machines, Inc. (LUNR), 3D Systems Corporation (DDD), Sun Country Airlines Holdings, Inc. (SNCY), and TDCX Inc. (TDCX). All these companies have reported either a decrease in sales or weaker-than-expected earnings in the recent quarter.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:53 pm

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a 2% YoY revenue growth for Q2 FY23, missing consensus estimates. The company's Q2 revenue grew by 39% sequentially due to higher solar module shipment volume and project sales, partially offset by a decline in module average selling price. The company cut its FY23 revenue guidance to $8.5 billion - $9.0 billion from the previous $9.0 billion - $9.5 billion. Despite the reduced guidance, CSIQ shares traded higher by 0.78% in the premarket session.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 12:53 pm

ZM

Zoom Video Communications Inc (ZM) reported better-than-expected Q2 results and strong earnings guidance, leading to a rise in its stock. Q2 revenue increased 3.6% YoY to $1.14 billion, beating the consensus estimate of $1.11 billion. Adjusted earnings were $1.34 per share, surpassing analyst estimates of $1.03 per share. The company expects Q3 revenue to be between $1.115 billion and $1.12 billion and full-year revenue to be between $4.485 billion and $4.495 billion. Several analysts have updated their ratings and price targets for Zoom.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 12:51 pm

ZM

Zoom Video Communications reported better-than-expected quarterly results and issued strong earnings guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:51 pm

ASB

CMA

KEY

KRE

UMBF

VLY

S&P Global Ratings has downgraded the ratings of five US regional banks, namely Associated Banc-Corp, Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National Bancorp, citing challenges in the current environment. The Federal Reserve's monetary policy is straining the funding, liquidity, and revenue of many US banks. River City Bank and S&T Bancorp Inc. have had their outlooks revised to negative. The SPDR S&P Regional Banking ETF has lost nearly 9% since the start of August and 25% year to date.

Portfolio Pulse from Piero Cingari

August 22, 2023 | 12:50 pm

CSIQ

Canadian Solar has revised its FY23 total revenue outlook downwards from $9B-$9.5B to $8.5B-$9.0B, against a consensus of $9.27B.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:48 pm

TLS

Telos Corporation (NASDAQ:TLS) has been awarded a five-year contract by the Defense Information Systems Agency (DISA) to support the distribution and processing of various reports and other critical information. Telos AMHS, a widely-used organizational messaging solution in the U.S. Department of Defense, will be used for this purpose.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:45 pm

COTY

Coty Inc. (NYSE:COTY) shares traded higher in the premarket session on Tuesday after the company’s earnings release on Aug. 22. Options markets are implying a move of around +/-10% by the end of the week. Traders see Coty’s stock falling at least 20% by November expiration. Coty reported quarterly earnings of 1 cent per share, compared to a year-ago loss of 1 cent per share. The company reported Q4 revenue of $1.35 billion.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:33 pm