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AAPL

META

SNAP

Meta Platforms reported double-digit revenue growth for Q4 2021 and better than expected Q3 guidance, causing its stock to rise 7% in extended trading. The company's net income rose to $7.79 billion, with earnings per share of $2.98, exceeding Refinitiv's expectations. However, the Reality Labs unit is still struggling, posting a loss of $3.7 billion. Meta's CEO, Mark Zuckerberg, has initiated cost-saving efforts, including 21,000 job cuts.

Portfolio Pulse from Upwallstreet

July 27, 2023 | 1:48 pm

ASXC

CTCX

MNK

MRSN

ULBI

YELL

US stocks traded higher following the release of major economic reports. The US economy grew by an annualized 2.4% in Q2, higher than market estimates of 1.8%. Carmell Therapeutics Corporation (CTCX), Mallinckrodt plc (MNK), and Ultralife Corporation (ULBI) saw their shares rise significantly. However, Mersana Therapeutics (MRSN), Yellow Corporation (YELL), and Asensus Surgical (ASXC) saw their shares drop.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 1:45 pm

ABBV

An executive from AbbVie has announced during a conference call that the company has increased its sales outlook for neuroscience drugs by $300 million, projecting a total of $7.7 billion by 2023.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:43 pm

STM

STMicroelectronics NV reported Q2 FY23 revenue growth of 12.7% YoY to $4.33 billion, beating consensus of $4.27 billion. However, EPS of $1.06 missed the consensus of $1.08. The company saw growth across all segments, with the Automotive and Discrete Group (ADG) revenue rising 34.4% YoY. The company also expanded its margins and revised its FY23 revenues outlook to $17.25 billion - $17.55 billion. STM shares traded higher by 6.82%.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:42 pm

ABBV

During a conference call, an executive from AbbVie announced that the company has increased its 2023 sales outlook for Sykrizi by $200 million, bringing the total to $7.6 billion.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:42 pm

DIA

IWM

QQQ

SPY

Major indexes have risen due to positive US economic data and strong earnings reports from several companies.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 1:40 pm

NDLS

Traders are speculating that Noodles & Company (NDLS) may be a target for a buyout at a significant premium. The company is also seen as a potential target for a private equity activist campaign.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:39 pm

GOOG

GOOGL

META

MSFT

NVDA

QQQ

SMH

SOXX

SPY

Nvidia Corp's stock is trading higher, boosted by Meta Platforms Inc's positive Q2 results. Meta's revenue was $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. This has added to the Wall Street momentum driving up tech sector stock prices. Microsoft Corp and Alphabet Inc's positive earnings results earlier this week also had a positive impact. Semiconductor ETFs like VanEck Semiconductor ETF and iShares Semiconductor ETF are trading higher by over 2% today. Broader index ETFs like SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading higher by ~1%.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:38 pm

ADI

ENTG

LSCC

MCHP

MRVL

NVDA

QCOM

UMC

Semiconductor and chip stocks are trading higher following strong Q4 financial results from Lam Research. Stocks that may be affected include ADI, ENTG, LSCC, MCHP, MRVL, NVDA, QCOM, UMC.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:38 pm

NIO

XPEV

NIO Inc's shares are trading higher by 5.85% despite no company-specific news. The rise may be due to China's recent measures to optimize its business environment and a sympathy rise due to peer Chinese EV maker XPeng Inc's technical collaboration with Volkswagen. Volkswagen will acquire 4.99% of XPeng's outstanding share capital for $700 million.

Portfolio Pulse from Henry Khederian

July 27, 2023 | 1:37 pm