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SHOP

Shopify Inc. (NYSE:SHOP) reported better-than-expected Q2 earnings and sales results, with a 31% YoY increase in revenue to $1.69 billion. The company expects Q3 revenue to grow at a low-twenties percentage rate YoY. Following the announcement, Piper Sandler and Barclays raised their price targets on Shopify. Despite the positive results, Shopify shares fell 1.1% in pre-market trading.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 1:04 pm

HGV

Hilton Grand Vacations has reiterated its FY23 guidance for Adjusted EBITDA of $1.09B-$1.12B. The company remains well-positioned to generate sustainable free cash flow and deliver shareholder returns.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:04 pm

AAPL

Apple Inc plans to shift 20% of its iPhone 15 production to India, aiming to manufacture 15 million units this year. This move is part of Apple's strategy to decentralize its supply chain from China, following sales setbacks due to a COVID-19 outbreak and riots at its largest Chinese factory. The shift is also influenced by strained US-China relations and the potential of India as a major market for Apple.

Portfolio Pulse from Shomik Sen Bhattacharjee

August 04, 2023 | 1:03 pm

CCOI

IPG

NXST

The most accurate Wall Street analysts have recommended buying three high-dividend yield stocks in the communication services sector: Nexstar Media Group, Inc. (NASDAQ:NXST), The Interpublic Group of Companies, Inc. (NYSE:IPG), and Cogent Communications Holdings, Inc. (NASDAQ:CCOI). These recommendations are based on the companies' high free cash flows and high dividend payouts.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 1:03 pm

ARAV

EF Hutton analyst Tony Butler has downgraded Aravive (NASDAQ:ARAV) from Buy to Hold.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 1:02 pm

TKR

Timken has revised its FY23 outlook downwards due to current order trends and continued near-term economic uncertainty.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:02 pm

GCI

Gannett Co has reiterated its FY23 revenue forecast of $2.75B-$2.80B, which is higher than the estimated $2.49B.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:02 pm

ABL

BENF

EEFT

PAYS

RELI

The article lists the top 5 oversold financial stocks, which are considered undervalued and present a buying opportunity. The stocks are Beneficient (BENF), Reliance Global Group (RELI), PaySign (PAYS), Abacus Life (ABL), and Euronet Worldwide (EEFT). The companies' recent performance and RSI values are discussed.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 1:02 pm

LSPD

Lightspeed has projected its FY24 revenue to be between $875M and $900M, compared to an estimate of $890.37M. The company also expects its Q2 revenue to be between $210M and $215M, versus an estimate of $212.69M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:02 pm

LNTH

Lantheus Holdings Inc. (LNTH) has projected its Q3 revenues to be between $310M and $315M, which is slightly below the consensus estimate of $316.89M. The company also expects its Q3 adjusted EPS to be between $1.30 and $1.35, lower than the consensus of $1.37.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:02 pm