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AMD

ERIC

INTC

NOK

NVDA

TSM

Advanced Micro Devices (AMD) is expected to report Q2 earnings per share of $0.52, down from the year-ago's $1.05. The consensus revenue expectation is $4.81 billion, down 26.50% YoY. AMD's stock has risen about 77% this year. The average analysts’ price target is $136.36, suggesting roughly 19% upside from current levels. AMD's rival, Intel (INTC), reported an unexpected profit and better-than-expected revenue last week. Other companies mentioned include Nvidia (NVDA), Taiwan Semiconductor Manufacturing Company (TSM), Nokia (NOK), and Ericsson (ERIC).

Portfolio Pulse from Shanthi Rexaline

August 01, 2023 | 1:18 pm

Altria Group Inc (NYSE:MO) reported Q2 FY23 revenues net of excise taxes of $5.438 billion, slightly missing the analyst consensus of $5.45 billion. Net revenues declined 0.5% YoY to $6.5 billion. The company reaffirmed its FY23 earnings guidance and reported that it repurchased 10.4 million shares at an average price of $45.37. Altria's shares are trading higher by 0.26% at $45.54 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

August 01, 2023 | 1:14 pm

BSET

ETD

HVT

KSS

MDC

The article lists five consumer stocks that are considered overbought and could potentially negatively impact portfolios in Q3. These include Kohl's Corporation (KSS), Ethan Allen Interiors Inc. (ETD), M.D.C. Holdings, Inc. (MDC), Bassett Furniture Industries, Incorporated (BSET), and Haverty Furniture Companies, Inc. (HVT). All these companies have reported their recent financial results and their stocks have Relative Strength Index (RSI) values above 70, indicating they are overbought.

Portfolio Pulse from Lisa Levin

August 01, 2023 | 1:10 pm

BWV

Blue Water Biotech (NASDAQ:BWV) has entered into an agreement for the exercise of existing warrants to purchase 2,486,214 shares of its common stock at $1.09 per share, in exchange for new warrants. The gross proceeds from the exercise of the existing warrants is expected to be approximately $2.7 million. The transaction is expected to close on August 2, 2023. The net proceeds will be used for working capital and general corporate purposes.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:09 pm

WKSP

Worksport Ltd. (NASDAQ:WKSP) has announced the early commencement of production in its new 220,000 square-foot West Seneca, NY, facility, a week ahead of schedule. The company's CEO, Steven Rossi, expressed excitement over the development, stating that it represents a major milestone and underlines the company's capabilities in advanced project management and operational efficiency. The early start is expected to boost investor confidence in the company's growth and revenue prospects.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:03 pm

WELL

Welltower Inc has entered into an equity distribution agreement to offer common stock of up to $4.0B, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 12:59 pm

AGRI

AMSC

CYBN

POL

TTI

YELL

Several stocks experienced significant pre-market trading movements. Notable gainers include American Superconductor Corporation (AMSC), AgriFORCE Growing Systems Ltd. (AGRI), and TETRA Technologies, Inc. (TTI), which surged due to upcoming earnings reports and better-than-expected results. On the other hand, Polished.com Inc. (POL), Cybin Inc. (CYBN), and Yellow Corporation (YELL) fell due to restated financial statements, public offering of units, and bankruptcy preparations respectively.

Portfolio Pulse from Lisa Levin

August 01, 2023 | 12:57 pm

CMRA

Comera Life Sciences Holdings, Inc. (NASDAQ:CMRA) has announced a $4.1 million private placement of its common stock and accompanying warrants to existing stockholders. The company sold and issued a total of 4,399,016 shares of its common stock and warrants to purchase an aggregate of 10,997,550 shares of its common stock in a first closing, resulting in gross proceeds of $2.25 million. An additional 3,561,851 shares of its common stock and warrants to purchase an aggregate of 8,904,641 shares of its common stock are expected to be sold in a second closing, resulting in additional gross proceeds of $1.82 million.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 12:56 pm

NCLH

Norwegian Cruise Line Holdings (NCLH) has projected its FY23 adjusted EPS to be approximately $0.80, slightly higher than the estimated $0.78.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 12:52 pm

BABA

NVDA

Alibaba Group Holding Limited's stock is trading lower due to a contraction in China's official manufacturing purchasing managers' index (PMI) for a fourth month. The company is also undergoing a corporate restructuring and has invested in agriculture-related technology. Alibaba and its Chinese peers are vulnerable to potential U.S. sanctions on the semiconductor industry. U.S. chipmaker Nvidia Corp, known for its AI chips, has a sizable exposure to China.

Portfolio Pulse from Anusuya Lahiri

August 01, 2023 | 12:47 pm