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BABA

META

Alibaba Group Holding Limited's shares are trading higher due to its artificial intelligence collaboration with Meta Platforms Inc. Alibaba Cloud has added Meta's Llama 2 LLM to ModelScope, its open-source platform, which offers over 700 AI models to local developers. Alibaba Cloud has tailored services that would enable Chinese developers to design and build their AI applications faster. Alibaba also proposed to provide funding and other forms of support to these businesses. Meanwhile, Meta Platforms reported second-quarter revenue of $32 billion, up 11% year-over-year.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:33 pm

AMZN

Amazon has cut hundreds of zone lead positions at its Amazon Fresh grocery stores as part of a cost reduction plan. The layoffs come amid a year of job cuts in the tech industry, with Amazon having laid off 27,000 workers in 2023. Despite innovations, Amazon Fresh has faced challenges attracting customers. The company is reevaluating its expansion and cutting costs, including layoffs in various divisions and projects.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:31 pm

INVO

INVO BioScience has announced a 1-for-20 reverse stock split, which will be effective pre-market opening on July 28.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm

CCB

Coastal Finl (NASDAQ:CCB) reported Q2 earnings of $0.95 per share, missing the analyst consensus estimate of $0.97 by 2.06%. The company also reported quarterly sales of $120.94 million, missing the analyst consensus estimate of $124.04 million by 2.50%. However, both earnings and sales have increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm

LUV

Southwest Airlines reported mixed Q2 results, with an increase in economic fuel costs and operating expenses. This has led to a decrease in the company's share price.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 1:24 pm

INTC

Intel Corporation (NASDAQ:INTC) is expected to report a Q2 loss of 3 cents per share, compared to a profit of 29 cents per share a year ago. Revenue is projected to be $10.97 billion. Intel's stock closed at $34.36 on Wednesday, up 0.8%. Several analysts have recently updated their price targets for Intel, with targets ranging from $33 to $36.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 1:24 pm

ABVC

ABVC BioPharma has announced the pricing of a $1.75 million registered direct offering of 500,000 shares at $3.50 per share.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:24 pm

TXT

Textron reported strong Q2 results and raised its financial outlook, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 1:19 pm

CCL

CUK

NCLH

Cruise stocks are trading higher following Royal Caribbean's strong Q2 results and increased guidance. This includes Carnival Corporation (CCL), Carnival PLC (CUK), and Norwegian Cruise Line Holdings (NCLH).

Portfolio Pulse from Bill Haddad

July 27, 2023 | 1:18 pm

RCL

Royal Caribbean reported strong Q2 results and increased its guidance, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 1:16 pm