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CAT

Caterpillar's CEO has announced that the company's 2023 results are expected to be better than previously anticipated.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:32 pm

ETN

Eaton Corp PLC (NYSE:ETN) reported Q2 FY23 net sales of $5.87 billion, a 13% Y/Y increase, beating the consensus of $5.74 billion. Adjusted EPS improved 18% Y/Y to $2.21, also beating the consensus of $2.11. The company raised its FY23 EPS outlook to $8.65-$8.85 from $8.30-$8.50. ETN shares are trading higher by 1.60% at $208.60 premarket.

Portfolio Pulse from Lekha Gupta

August 01, 2023 | 1:31 pm

JYD

Jayud Global Logistics Limited (NASDAQ:JYD) has announced a significant expansion of its operations, including the addition of cold storage and dry storage facilities. The move is in response to the growing demand in China's cold chain logistics market, which is expected to reach a market size of approximately US$126 billion by 2025.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:31 pm

BMRN

Biomarin Pharmaceutical Inc (NASDAQ:BMRN) reported a Q2 adjusted EPS of $0.54, beating the consensus of $0.47. The company's revenue rose 12% to $595.3 million, surpassing the consensus of $518.91 million. Sales of Voxzogo drug increased 229% to $113.3 million due to global expansion and patient uptake. The company raised its FY23 Voxzogo sales forecast to $400 million-$440 million from $380 million-$430 million. BMRN shares are down 0.36% at $87.61 premarket.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 1:27 pm

AMSC

OCEA

TUP

Shares of American Superconductor (AMSC) are up 100% premarket following a report on a room-temperature ambient-pressure superconductor, despite skepticism from the scientific community. Ocean Biomedical (OCEA) celebrates a 95% lung cancer tumor reduction result on World Lung Cancer Day. Tupperware (TUP) has a high short interest with 27.06% of shares currently sold short and 7.45 days to cover.

Portfolio Pulse from ryanfaloona@benzinga.com

August 01, 2023 | 1:23 pm

FAMI

Farmmi, Inc. (NASDAQ:FAMI), a Chinese agriculture products supplier, has announced a repeat high-volume order for shipment to Lebanon. The order is for the company's high-quality dried Shiitake mushrooms. The company is expanding its global presence and solidifying its position in the global agricultural marketplace.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:21 pm

BNL

DOC

GMRE

Three real estate stocks with over 6% dividend yields have been highlighted by Wall Street's most accurate analysts. These include Global Medical REIT Inc. (GMRE) with a dividend yield of 8.48%, Broadstone Net Lease, Inc. (BNL) with a yield of 6.87%, and Physicians Realty Trust (DOC) with a yield of 6.24%. Recent news for these companies include downbeat Q1 sales for GMRE, better-than-expected Q1 sales for BNL, and a Q1 revenue increase for DOC.

Portfolio Pulse from Lisa Levin

August 01, 2023 | 1:20 pm

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