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The article lists five tech stocks that are currently oversold and could potentially boost a portfolio. These include InterDigital, Inc. (IDCC), Dolby Laboratories, Inc. (DLB), Littelfuse, Inc. (LFUS), Cognex Corporation (CGNX), and Apple Inc. (AAPL). All these stocks have an RSI value below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:40 pm

OLPX

Olaplex has reduced its FY23 outlook, with sales now expected to be between $445M and $465M, down from the previous estimate of $563M to $634M. The company's adjusted net income is also expected to decrease to $96M - $108M from $176M - $224M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:40 pm

SQSP

Squarespace has increased its FY23 revenue outlook from $969M-$981M to $987M-$995M, surpassing the consensus estimate of $980.24M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:40 pm

UPS

UPS reported mixed Q2 financial results and issued FY23 revenue guidance below estimates, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:40 pm

SQSP

Squarespace has projected its Q3 revenue to be between $250M and $253M, representing a 15%-16% increase year-over-year. This estimate surpasses the consensus of $245.64M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:38 pm

PMTS

CPI Card Group has updated its full-year net sales outlook for 2023 to a range of flat to low single-digit growth, down from the previous outlook of mid-single digit growth. The company also affirmed its outlook for mid-to-high single-digit Adjusted EBITDA growth and expects Free Cash Flow to more than double and the year-end Net Leverage Ratio to improve to between 2.5x and 3.0x.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:37 pm

TRNS

Transcat has acquired all of the capital stock of privately-held Axiom Test Equipment for $38 million. The purchase price was paid in a combination of $28 million in Transcat stock and $10 million in cash. Axiom is a rental provider of Electronic Test Equipment across the United States, with 26 employees and headquartered in San Diego, California.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:36 pm

SMX

SMXWW

SMX Public Limited Company (NASDAQ:SMX) (NASDAQ:SMXWW) has been working with law firm Seiden Law LLP and retired senior FBI official Joshua Skule to address alleged naked short selling activity. The task force has been coordinating with NASDAQ and FINRA to ensure the integrity in the trading of its shares and build shareholder value.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:35 pm

MVST

Microvast Holdings Inc (NASDAQ:MVST) reported better-than-expected Q2 results, with a 16.4% YoY increase in revenue to $74.95 million, beating the consensus estimate of $64.19 million. The company also reported a smaller loss than expected. Microvast ended the quarter with a backlog of $675.9 million, up 541.9% YoY, driven by its production ramp for commercial vehicle customers in Europe and Asia Pacific. The company expects Q3 revenue to be between $72 million and $80 million, and full-year revenue to be between $348 million and $368 million.

Portfolio Pulse from Adam Eckert

August 08, 2023 | 12:35 pm

BUD

TLRY

Tilray Brands Inc (NASDAQ:TLRY) announced a deal to acquire eight beer brands from Anheuser-Busch Inbev (NYSE:BUD). The all-cash deal, expected to close this year, includes current employees, breweries, and brewpubs associated with the brands. The acquisition is expected to generate craft beer pro forma revenue of $250 million and strengthen Tilray's distribution capabilities. Tilray shares were up 12.6% at the time of publication.

Portfolio Pulse from Adam Eckert

August 08, 2023 | 12:32 pm