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UPS

Shares of United Parcel Service (UPS) are trading higher after the Teamsters union reached a tentative agreement for UPS workers.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 3:53 pm

LW

Lamb Weston Holdings, Inc. (NYSE:LW) reported Q4 net sales of $1.695 billion, up 47% YoY, beating the analyst consensus of $1.660 billion. Adjusted EPS increased 91% to $1.22, beating the analyst consensus of $1.05. The company expects net sales of $6.7 billion-$6.9 billion for FY24. Despite the positive earnings report, LW shares are trading lower by 6.79% to $105.04.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 3:52 pm

IRDM

Iridium Communications Inc reported Q2 FY23 revenue growth of 10.4% YoY to $193.11 million, missing the consensus of $198.42 million. The company registered a quarterly EPS loss ($0.24) in Q2, primarily due to the write-off of Iridium's remaining ground spare satellite. Total billable subscribers rose 14% YoY to 2.14 million, driven by growth in commercial IoT customers. The company reiterated its full-year 2023 outlook, expecting total service revenue growth between 9% and 11%, with OEBITDA of $455 million - $465 million.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 3:50 pm

ACI

Albertsons Companies, Inc. (NYSE:ACI) reported Q1 net sales of $24.05 billion, beating the analyst consensus of $23.95 billion. Sales rose 3.17% Y/Y. Adjusted EPS was $0.93, beating the street view of $0.85. The company expects a $130 million headwind to Adjusted EBITDA for the remaining three quarters of fiscal 2023 due to a decline in providing COVID-19 vaccinations and at-home test kits.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 3:50 pm

XLV

XLY

U.S. consumer confidence has reached its highest level since July 2021, driven by a strong job market and decreasing inflation. The Consumer Confidence Index rose to 117 in July, up from 110.1 in June. However, consumers' belief in the likelihood of a recession within the next 12 months increased slightly from 69.9% in June to 70.6%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and the Health Care Select Sector SPDR Fund (NYSE:XLV) could benefit from consumers’ indicated spending intentions.

Portfolio Pulse from AJ Fabino

July 25, 2023 | 3:50 pm

LVMHF

Moet Hennessy Louis Vuitton (LVMHF) reported Q2 revenue of €21.21B, up 17% organically, and H1 net income group share of €8.48B, up 30%. The H1 recurring operating margin was at 27.4% of sales. However, Hennessy was impacted by the economic situation in the U.S. and destocking. Sephora's dynamics were strong.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 3:48 pm

SNOW

A significant bearish stance has been taken on Snowflake (NYSE:SNOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $145.0 to $240.0 for Snowflake over the last 3 months. The current price of SNOW is up 2.43% at $179.04. Several financial institutions have maintained or upgraded their ratings on Snowflake, with price targets ranging from $185 to $213.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 3:46 pm

RCL

A significant bearish stance has been taken on Royal Caribbean Gr (NYSE:RCL) by a large investor, as indicated by a big position in the company's options. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The targeted price range for Royal Caribbean Gr over the last 3 months has been $95.0 to $120.0. The company's stock price is currently down by 0.9% at $102.0. Truist Securities and Barclays have maintained their Hold and Overweight ratings on the company, respectively, with price targets of $115 and $113.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 3:46 pm

ALK

Alaska Air Group, Inc (NYSE:ALK) shares are down after the company's Q3 outlook anticipates 0%-3% topline growth. Despite beating Q2 consensus with a 7% YoY operating revenue growth and an adjusted EPS of $3.00, the company's shares are trading lower by 12%. The company also reported an increase in operating expenses and a contraction in load factor. ALK repurchased shares worth $39 million in Q2 and expects to repurchase at least $100 million in FY23.

Portfolio Pulse from Akanksha Bakshi

July 25, 2023 | 3:43 pm

ABNB

A significant bearish stance on Airbnb (NASDAQ:ABNB) has been observed in the options market. The sentiment among big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $135.0 to $157.5 for Airbnb over the last 3 months. The price of ABNB is up 1.24% at $149.44. Various experts have maintained their ratings on Airbnb with price targets ranging from $100 to $168.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 3:31 pm