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Stock Prices

AAPL

Weak demand for iPhones in the US and South America, and flat demand in China, could lead to Apple Inc.'s largest Q3 revenue drop since 2016. The slowdown is attributed to a weak economy and anticipation for the iPhone 15 series launch in September. The Americas region is expected to see a 6% revenue decline, with iPhone revenue expected to decline by 2% overall.

Portfolio Pulse from Rounak Jain

August 04, 2023 | 10:42 am

MCK

PINS

PSX

QCOM

SBUX

Phillips 66, Starbucks Corporation, McKesson Corporation, Pinterest, Inc., and QUALCOMM Incorporated are the stocks to watch heading into Wednesday. Phillips 66 is expected to post quarterly earnings of $3.54 per share on revenue of $32.13 billion. Starbucks reported better-than-expected earnings for its third quarter, but sales missed estimates. McKesson is expected to have earned $5.88 per share on revenue of $70.25 billion for the latest quarter. Pinterest posted upbeat earnings and sales results for its second quarter. QUALCOMM is expected to report quarterly earnings at $1.81 per share on revenue of $8.51 billion.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:42 am

APVO

Aptevo Therapeutics has priced a $5 million public offering of 8,064,517 shares at $0.62 per share. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:42 am

ADMP

Adamis Pharmaceuticals shares are trading lower, potentially due to profit taking after the stock rallied by approximately 180% the previous day.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:42 am

YUM

Yum! Brands, Inc. (NYSE:YUM) is expected to report higher Q2 earnings at $1.24 per share, up from $1.05 a year ago, with revenues of $1.75 billion. The company's shares fell 1% to close at $136.36 on Tuesday. Several analysts have recently updated their price targets for the company, with the highest target set at $179 by Citigroup.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:41 am

STLA

Toyota Motor Corp. has unveiled a revamped Land Cruiser, planning to reintroduce the SUV to the U.S. market next year. The move is seen as a challenge to Stellantis NV’s Jeep and Ford Motor Company’s Bronco. The Land Cruiser, starting at a price point in the mid-$50,000s, could compete in the 'adventure vehicle' segment.

Portfolio Pulse from Benzinga Neuro

August 04, 2023 | 10:41 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) has been facing economic worries impacting demand for its vehicles, leading to a series of price cuts early this year. However, the average price of a used Tesla vehicle has fallen by over $25,000 from its peak last July, a 37% decline. This has led to concerns about the efficacy of the price cuts and margin worries. Tesla's price cuts have also led to gross margin erosion since the fourth quarter of 2022. The company's stock ended Tuesday's session down 2.38% at $261.07.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 10:41 am

MCK

MRK

PFE

PSX

QCOM

US stocks closed mixed on Tuesday with the Fear & Greed Index moving to the 'Greed' zone. Merck & Co and Pfizer reported better-than-expected earnings, while the ISM Manufacturing PMI rose slightly. The Dow Jones closed higher, while the S&P 500 and Nasdaq Composite fell. Investors are awaiting earnings results from Phillips 66, McKesson Corporation, and QUALCOMM Incorporated.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:41 am

NIO

TSLA

Chinese electric vehicle maker NIO Inc's latest model, the ES6, has driven a record-breaking July with a delivery figure of 20,462 vehicles, marking a 103.6% YoY surge and a 91.1% leap from the previous month. The ES6's success is reminiscent of Tesla Inc's Model 3 success story. NIO's strategic pricing moves, reducing prices across its models by 30,000 RMB ($4,200) in June, also contributed to this success.

Portfolio Pulse from Ramakrishnan M

August 04, 2023 | 10:41 am

TARS

Tarsus Pharmaceuticals has announced the pricing of its $100M underwritten public offering of 5,714,285 shares of common stock at $17.50 per share.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:40 am