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MGIC

Magic Software has lowered its FY2023 sales guidance from $585M-$593M to $570M-$580M, primarily due to exchange rate headwinds and a slowdown in IT spending. The company's operations in North America have been impacted by macro environment uncertainty.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:45 am

AMC

AURC

NKLA

WE

Several big stocks recorded losses in Monday's pre-market trading session. AMC Entertainment shares dipped 26.8% following a crucial court ruling. Aurora Acquisition Corp. dipped 16.7% after shareholders approved a business combination with Better. Xiao-I Corporation shares tumbled 15.6% after a 12% decline on Friday. Nikola Corporation shares declined 14.9% in response to a fire probe. WeWork shares fell 6.9% amid doubts over its ability to stay in business. Cleveland-Cliffs shares declined 6.4% after United States Steel Corp. rejected a buyout offer. Other stocks recording losses include Standard Lithium Ltd., Valneva SE, The Mosaic Company, and U.S. Silica Holdings, Inc.

Portfolio Pulse from Lisa Levin

August 14, 2023 | 10:44 am

DOYU

DouYu International Holdings Limited reported a Q2 FY23 revenue decline of 24.1% to $192 million, beating the consensus of $183.05 million. Livestreaming revenues decreased by 28.8% due to operational adjustments, while advertising and other revenues increased by 106.5%. Gross margin declined by 330 bps to 13.6%. The company's average mobile MAUs and paying user count also decreased. Despite this, DOYU shares traded higher by 0.95% at $1.06 premarket.

Portfolio Pulse from Anusuya Lahiri

August 14, 2023 | 10:44 am

OPGN

HC Wainwright & Co. analyst Yi Chen has downgraded OpGen (NASDAQ:OPGN) from Buy to Neutral.

Portfolio Pulse from richadhand@benzinga.com

August 14, 2023 | 10:42 am

BTCUSD

Pro-Bitcoin presidential candidate Javier Milei's unexpected lead in Argentina's primary elections has caused uncertainty in the Argentine market. Milei, who supports a 'dollarization' of the economy, has not advocated for Bitcoin to be used as legal tender in Argentina. His victory could lead to further instability in Argentina's financial markets, similar to a crash in bonds and currency values in 2019 following an unexpected primary result.

Portfolio Pulse from Benzinga Neuro

August 14, 2023 | 10:32 am

JKS

JinkoSolar Holding Co has revised its Q3 module shipments forecast to 19.0 GW - 21.0 GW, and its FY23 forecast to 70.0 GW - 75.0 GW, up from the previous 60.0 GW - 70.0 GW.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:30 am

DELL

Dell Technologies Inc has been fined A$10 million ($6.46 million) by Australia's Federal Court for misleading customers about discounts for add-on computer monitors on its website. Between August 2019 and December 2021, Dell Australia sold over 5,300 monitors with overstated discounts. Despite this, Morgan Stanley raised its bull case valuation on the stock from $81 to $84, focusing on Dell's leveraging of generative AI technology.

Portfolio Pulse from Lekha Gupta

August 14, 2023 | 10:28 am

JKS

JinkoSolar Holding Co (NYSE:JKS) reported Q2 earnings of $3.52 per share, beating the analyst consensus estimate of $2.08 by 69.23%. This is a 217.12% increase from the same period last year. The company also reported quarterly sales of $4.23 billion, beating the analyst consensus estimate of $4.18 billion by 1.24%. This is a 50.44% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:27 am

AMC

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares slumped in premarket trading following the Delaware Chancery Court’s ruling that the company can increase the number of authorized shares and do a reverse split of the shares in the ratio of 1-for-10. This will allow conversion of all outstanding AMC preferred shares (APE) into AMC common shares. The move is expected to dilute equity capital, pushing down the stock price. In premarket trading, AMC shares traded down 27.38% at $3.82, while the APE preferred unit jumped 26.40% to $2.25.

Portfolio Pulse from Shanthi Rexaline

August 14, 2023 | 10:25 am

ERJ

Embraer (NYSE:ERJ) reported Q2 adjusted earnings of $0.32 per share, beating the analyst consensus estimate of $0.12 by 163.33%. This is a 25.4% increase from the same period last year. The company also reported quarterly sales of $2.01 billion, beating the analyst consensus estimate of $1.16 billion by 72.89%, a 97.17% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:24 am