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TSN

Tyson Foods Inc is planning to sell its China poultry business and has hired The Goldman Sachs Group Inc as an advisor for the divestiture. The company has sent preliminary information to potential buyers, including several private equity firms. The valuation of the business, which has annual sales of around $1.1 billion, is unclear. Tyson Foods recently reported Q3 FY23 results, missing revenue and EPS consensus. The company's shares closed lower by 0.61% at $53.40 on Wednesday.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 9:55 am

BALL

Ball Corp (NYSE:BALL) shares are trading higher by around 5% after the company disclosed a plan to sell its aerospace business to BAE Systems for $5.6 billion in cash. The transaction is expected to close in H1 2024. Post deal closure, Ball plans to use the proceeds to reduce net debt and boost its share repurchase authorization program and quarterly dividend.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 9:40 am

NICE

NICE has increased its FY23 Non-GAAP total revenues outlook from $2.35B-$2.37B to $2.353B-$2.373B, slightly above the estimated $2.37B. The company also raised its Non-GAAP EPS from $8.32-$8.52 to $8.40-$8.60, which is in line with the estimated $8.44.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 9:37 am

NICE

NICE Ltd. has projected its Q3 non-GAAP total revenues to be between $590M and $600M, with non-GAAP EPS expected to be between $2.10 and $2.20. The estimates are in line with the consensus estimate of $595.32M for revenues and $2.13 for EPS.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 9:33 am

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TSLA

VFS

VinFast Auto Ltd.'s stock was listed on the Nasdaq following a SPAC deal, reaching a valuation of over $85 billion, more than General Motors Corp. and Ford Motor Co. However, the stock pulled back by about 18.75% on Wednesday. Analysts and investors, including Jim Cramer, have expressed concerns about the company's high valuation and potential negative impact on other EV companies like Tesla and Rivian.

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 9:33 am

AMAT

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WMT

Walmart, Cisco Systems, Tapestry, Synopsys, and Applied Materials are the stocks to watch heading into Thursday. Walmart is expected to post quarterly earnings at $1.70 per share on revenue of $160.19 billion. Cisco reported better-than-expected Q4 results but issued a weak revenue forecast. Tapestry is expected to have earned 97 cents per share on revenue of $1.65 billion. Synopsys reported upbeat earnings for Q3 and announced a CEO change. Applied Materials is expected to report quarterly earnings at $1.74 per share on revenue of $6.16 billion.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 8:34 am

JBGS

Evercore ISI Group analyst Steve Sakwa has downgraded JBG SMITH Props (NYSE:JBGS) from In-Line to Underperform and lowered the price target from $16 to $15.

Portfolio Pulse from richadhand@benzinga.com

August 17, 2023 | 8:33 am

ALC

JP Morgan analyst David Adlington has upgraded Alcon (NYSE:ALC) from Neutral to Overweight and raised the price target from $79.8 to $89.3.

Portfolio Pulse from richadhand@benzinga.com

August 17, 2023 | 8:31 am

BEDU

Bright Scholar Education Holdings (BEDU) forecasts FY23 revenue to be between RMB1.9B and RMB2.0B, representing a YoY increase of 10%-15%. This is higher than the estimated $616.77M.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:16 am

QSR

Restaurant Brands International Inc. (RBI) announced that an underwritten registered public offering of up to 7,136,149 common shares commenced by HL1 17 LP, an affiliate of 3G Capital Partners Ltd., had priced. These common shares relate to the exchange notice received by RBI from the Selling Shareholder, to exchange 7,136,149 Class B exchangeable limited partnership units of RBI.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:46 am