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HIPO

JRVR

LPRO

PRAA

UFCS

The article lists five financial stocks that are currently oversold, presenting a potential buying opportunity. These include Hippo Holdings Inc. (HIPO), James River Group Holdings, Ltd. (JRVR), Open Lending Corporation (LPRO), PRA Group, Inc. (PRAA), and United Fire Group, Inc. (UFCS). The companies have reported mixed Q2 results, with some beating expectations and others posting losses.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 11:33 am

KKR

PARA

Paramount Global (NASDAQ:PARA) has reportedly abandoned its plan to sell its majority stake in BET Media Group, which includes the VH1 and BET cable networks and BET+ streaming service. The decision was made as the sale would not significantly deleverage its balance sheet. The company had received bids worth $2 billion - $3 billion for its stake. Paramount has been looking to offload non-core assets like BET stake to raise money to shift more focus to its streaming service, Paramount+.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 11:33 am

ARCO

Arcos Dorados Holdings (ARCO) reported Q2 earnings of $0.13 per share, missing the analyst consensus estimate of $0.14 by 7.14%. The company also reported quarterly sales of $1.04 billion, missing the analyst consensus estimate of $1.05 billion by 0.95%. However, both earnings and sales have increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:32 am

LITE

Lumentum Holdings (NASDAQ:LITE) reported Q4 earnings of $0.59 per share, beating the analyst consensus estimate of $0.55 by 7.27%. However, this is a 59.86% decrease from the same period last year. The company also reported quarterly sales of $370.80 million, beating the analyst consensus estimate of $366.47 million by 1.18%, but this is a 12.15% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:31 am

MSGS

Madison Square Garden (NYSE:MSGS) reported Q4 losses of $(0.39) per share, missing the analyst consensus estimate of $(0.14) by 178.57%. This is a 135.14% decrease from last year's earnings. However, the company's quarterly sales of $126.90 million beat the analyst consensus estimate of $123.77 million by 2.53%, despite being a 27.57% decrease from last year's sales.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:30 am

BABA

BILI

FXI

JD

KWEB

Alibaba Group Holding Limited (BABA) stock is trading higher in sync with the broader index ETFs IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB). The Chinese stocks got a boost from upbeat results, including Alibaba, JD.Com, Inc (JD), and Bilibili Inc (BILI). Alibaba Cloud's business communication and collaboration platform DingTalk will split from Alibaba Cloud as the latter seeks an IPO. China cut its holdings of U.S. Treasuries in June to the lowest since May 2009.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 11:29 am

HE

B of A Securities analyst Julien Dumoulin-Smith has maintained an 'Underperform' rating on Hawaiian Electric Industries (NYSE:HE) and lowered the price target from $11 to $10.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:27 am

BILI

Bilibili Inc reported Q2 FY23 revenue growth of 8% YoY to $731.5 million, beating the consensus of $726.4 million. The company's average daily active users climbed 15% YoY to 96.5 million. However, revenues from mobile games were down 15% YoY due to the lack of new game launches. The company expects FY23 revenues of RMB22.5 billion - RMB23.5 billion, lower than the previous expectation due to the delay of certain game launches and lower-than-expected revenue from non-core businesses.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 11:25 am

F

GM

TSLA

Legacy automakers like Ford and GM are considering reducing customization options, following the successful model of Tesla and Chinese EV firms. This strategy simplifies the assembly process, reduces complexity, and enhances efficiency. Ford's CEO mentioned a potential 80%-90% reduction in consumer options, while GM's CEO discussed a strategy to reduce design and engineering complexities.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 11:17 am

TRMR

Tremor Intl (NASDAQ:TRMR) reported Q2 earnings of $0.12 per share, missing the analyst consensus estimate of $0.17 by 29.41%. This is a 25% decrease from the same period last year. The company also reported quarterly sales of $84.25 million, missing the analyst consensus estimate of $95.98 million by 12.23%. However, this is an 11.10% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:11 am