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GRMN

Garmin Ltd (NYSE:GRMN) reported a Q2 FY23 revenue growth of 6% YoY to $1.32 billion, beating the consensus of $1.28 billion. However, its Proforma EPS of $1.45 missed the consensus of $1.43. The company saw growth in three of its five segments, with Fitness growing by 23% YoY, Aviation improving by 6% YoY, and Auto OEM growing 77% YoY. Garmin increased its FY23 revenue outlook to $5.05 billion.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 11:19 am

AMD

AMD reported strong Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:19 am

SEDG

SolarEdge (SEDG) shares are trading lower due to weak Q3 guidance.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:19 am

TEVA

Teva Pharmaceutical Industries Ltd. has revised its FY23 revenue forecast to $15.0B-$15.4B, up from the previous range of $14.8B-$15.4B. The new forecast is in line with the consensus estimate of $15.02B. The company has maintained its adjusted EPS forecast of $2.25-$2.55, which is also in line with the consensus estimate of $2.27.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:19 am

CVS

CVS Health Corp's Q2 sales increased by 10.3% Y/Y to $88.9 billion, beating the consensus of $86.74 billion. The company's pharmacy and consumer wellness segment saw revenue grow 7.6% to $28.78 billion. The company recorded $496 million in pre-tax charges related to a restructuring program it started during the quarter to cut costs. CVS Health revised GAAP EPS to $6.53-$6.75 from $6.90-$7.12. CVS shares are down 2.30% at $72.25 during the premarket session.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 11:19 am

PHUN

UBS

Phunware, Inc. has filed a lawsuit against UBS Securities, LLC, accusing them of manipulating the company's stock through deceptive market tactics, causing significant losses for the company and its investors.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:19 am

TOON

Kartoon Studios (NYSE:TOON) announced its streaming service business, including Kartoon Channel!, has seen significant growth across all major metrics, led by viewership and consumption. The service has achieved 82% YoY improvement in the first half of 2023 and maintains a user ranking of 4.9 in the Apple App Store, outperforming major competitors like YouTube Kids and Disney+. The service is nearing profitability and continues to expand internationally.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:19 am

PSX

Phillips 66 (PSX) reported Q2 adjusted EPS of $3.87, beating the consensus of $3.54. Revenue of $35.74 billion also exceeded the consensus of $34.55 billion. The company returned $1.8 billion to shareholders through dividends and share repurchases in Q2. Since July 2022, the company has returned $5.4 billion to shareholders, with a target of $10 billion to $12 billion by year-end 2024. The company closed the $3.8 billion acquisition of DCP Midstream, LP in Q2. PSX shares are trading lower by 1.48% at $110.45 premarket.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 11:19 am

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) has released its unaudited bitcoin mining and operations update for July 2023. The company doubled its bitcoin holdings to 1,061 BTC and increased its hashrate to an all-time high of 9 exahashes per second (EH/s). Production also increased by 17% month over month. The company sold 43 bitcoins in July 2023 at an average of approximately $29,300 per BTC, equating to proceeds of approximately $1.3 million.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:18 am

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) is expected to report its Q2 financial results on Aug. 2, 2023, with analysts predicting earnings of $1.16 per share, up from 93 cents a year ago, and revenue of $7.27 billion. Recently, several analysts have adjusted their price targets for PayPal, with most reducing their targets.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 11:18 am