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INSW

International Seaways reported better-than-expected Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 3:12 pm

BLDP

Ballard Power Systems Inc reported a Q2 FY23 revenue decrease of 27% YoY to $15.30 million, missing the consensus of $15.88 million. The company reported a gross loss of $(3.2) million, compared to $(2.2) million a year ago. However, EPS loss improved to $(0.10) from $(0.19) in 2Q22, beating the consensus of $(0.13). Ballard received ~$25.1 million of new orders in Q2 and delivered orders valued at $15.3 million, resulting in an Order Backlog of ~$147.5 million at the end of the quarter. The company's shares are trading higher by 3.5% at $4.86.

Portfolio Pulse from Akanksha Bakshi

August 09, 2023 | 3:12 pm

APA

MPC

MRO

TTE

Shares of energy companies are trading higher due to the strength in oil.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 3:10 pm

CI

CVS

LLY

NVO

UNH

Novo Nordisk's weight loss drug, semaglutide, has shown a 20% reduction in major adverse cardiovascular events in a large scale study. This has positive implications for Eli Lilly's similar weight loss drug, Mounjaro. However, the prospect of insurers needing to cover these expensive drugs has led to a fall in stocks of health insurers like UnitedHealth Group, Cigna Group, and CVS Health Corp. Eli Lilly has reported strong earnings and raised its FY23 guidance. The company also has a promising Alzheimer's drug in the pipeline.

Portfolio Pulse from The Arora Report

August 09, 2023 | 3:10 pm

GO

Grocery Outlet Holding reported better-than-expected Q2 financial results, leading to a rise in its share prices. Credit Suisse also raised the price target for the company's stock from $30 to $33.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 3:09 pm

CAE

CAE reported better-than-expected Q1 financial results and issued FY24 guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 3:07 pm

VSH

Vishay Intertechnology Inc (NYSE:VSH) reported Q2 FY23 net revenue growth of 3.3% Y/Y to $892.11 million, surpassing the consensus of $879.69 million. However, gross margin contracted 140 bps Y/Y to 28.9% and operating margin contracted 238 bps Y/Y to 15.1%. Adjusted EBITDA declined 10.5% Y/Y to $177.97 million. The company held ~$1.1 billion in cash and equivalents. For Q3 FY23, Vishay expects revenue of $840 million-$880 million.

Portfolio Pulse from Akanksha Bakshi

August 09, 2023 | 3:06 pm

STR

Sitio Royalties reported worse-than-expected Q2 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 3:05 pm

NGL

Tennessee Representative Mark Green has purchased between $250,001 and $500,000 worth of NGL Energy Partners (NYSE:NGL) stock, according to a Periodic Transaction Report. The transaction was made on August 8, 2023. NGL Energy Partners shares are currently trading up 4.57% at $4.52. Congressional transactions can be an important factor for investors to consider, although they should not be the primary basis for an investing decision.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 3:05 pm

ET

Tennessee Representative Mark Green has reported a sale of Energy Transfer (NYSE:ET) stock valued between $250,001 - $500,000 on August 8, 2023. The sale was revealed in a report from the House of Representatives Clerk's Office. Energy Transfer shares are currently trading up 1.16% at $13.03.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 3:05 pm