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AMC

AMC Entertainment's proposed plan to convert preferred shares to common units and implement a stock split has been rejected by a court. This has led to volatility in the company's stock, causing it to trade lower.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:14 pm

FCN

FTI Consulting has revised its FY23 outlook, leading to a decrease in its share prices.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:13 pm

SIMO

Shares of Silicon Motion Technology are trading lower, following a gain on Wednesday.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:12 pm

LAD

Lithia Motors Inc (NYSE:LAD) reported Q2 FY23 sales growth of 12% YoY to $8.11 billion, surpassing the analyst consensus of $7.92 billion, and adjusted EPS of $10.91, beating the analyst consensus of $9.26. Following the results, Benchmark and Citigroup analysts raised their price targets and EPS estimates for 2023 and 2024. Despite the positive news, LAD shares are trading lower by 3.1% at $310.55.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 6:10 pm

ESLOF

ESLOY

KODK

Eastman Kodak Co (KODK) has signed a perpetual, global brand licensing deal with Essilorluxottica (ESLOF, ESLOY). The deal, effective from January 1, 2024, grants EssilorLuxottica exclusive rights to use the Kodak registered trademarks for its products and services. The financial terms of the deal were not disclosed. Following the news, KODK shares rose by 2.22%.

Portfolio Pulse from Lekha Gupta

July 27, 2023 | 6:09 pm

SPOT

Oppenheimer analyst Jed Kelly maintained a Perform rating on Spotify Technology S.A. (NYSE:SPOT), citing bearish sentiment but highlighting strong Monthly Active Users (MAUs) and positive podcasting growth. Spotify's 2Q22 ARPU was 2% below Street due to product/markets mix-shift, but announced global pricing increases. The analyst sees potential growth despite challenges from large platforms like TikTok. Podcasting growth reaccelerated to 30%+ and is tracking towards break-even. Kelly increased 4QE ARPU by 7% Q/Q, and FY24E revenue by 1%. SPOT shares traded lower by 3.04% at $144.59 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 6:08 pm

IMAX

IMAX shares are trading higher after the company reported strong Q2 results.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:05 pm

CARR

EMR

WHR

President Joe Biden has issued a 'Hazard Alert' to protect workers from the ongoing heatwave in the U.S. and pledged to invest in combating the impact of extreme weather events. The air conditioning market is expected to grow significantly due to the increasing demand caused by climate change. U.S.-based companies Carrier Global Corp, Whirlpool Corporation, and Emerson Electric Co are seeing positive trends, while non-U.S.-based companies like Electrolux AB, Hitachi Ltd, Mitsubishi Electric ADR, and Toshiba Corp are also experiencing favorable pricing trends.

Portfolio Pulse from AJ Fabino

July 27, 2023 | 6:05 pm

AT&T (T) reported solid 2Q results with revenue of $29.9 billion, up 0.9% Y/Y, and EBITDA of $11.1 billion, beating estimates. The company hit its $6 billion run rate of annual savings ahead of schedule and plans to add an incremental $2 billion in the next three years. Analysts from Raymond James, Oppenheimer, and Goldman Sachs provided their ratings and price targets, with Raymond James reiterating a Strong Buy with a price target of $25, Oppenheimer maintaining a Perform rating, and Goldman Sachs maintaining a Buy but lowering the price target from $23 to $20.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 6:04 pm

CDE

EGO

EXK

GFI

HMY

MUX

Shares of precious metals stocks are trading lower due to a rise in the US dollar. The stocks mentioned include CDE, EGO, EXK, GFI, HL, HMY, MUX.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 6:03 pm