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AAL

DAL

LUV

UAL

Airline stocks are trading higher following better-than-expected Q2 results from Delta.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:35 am

PEP

PepsiCo Inc reported Q2 FY23 sales growth of 10.4% YoY to $22.32 billion, beating the analyst consensus. Net revenue from various segments showed significant growth. Gross profit increased 12.9% YoY to $12.2 billion, and the profit margin expanded to 54.6%. The company raised the FY23 organic revenue growth outlook to 10% and sees 12% core constant currency EPS growth. PepsiCo continues to expect total cash returns to shareholders to be approximately $7.7 billion.

Portfolio Pulse from Shivani Kumaresan

July 13, 2023 | 10:34 am

DAL

Delta Air Lines reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:34 am

PEP

PepsiCo reported Q2 earnings and revenue beat, leading to a rise in its shares. The company also raised its FY23 outlook.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:34 am

CJET

HIMS

IMGN

MLKN

SOFI

TMC

VSAT

Several US stocks recorded losses in today's pre-market trading session. Viasat, Inc. (VSAT) shares dipped 19.5% after an unexpected event that may impact the performance of the ViaSat-3 Americas satellite. Chijet Motor Company, Inc. (CJET) shares fell 6.3% after a 36% jump on Wednesday. Hims & Hers Health, Inc. (HIMS), MillerKnoll, Inc. (MLKN), ImmunoGen, Inc. (IMGN), SoFi Technologies, Inc. (SOFI), and TMC the metals company Inc. (TMC) also experienced declines.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 10:33 am

CYRX

CryoPort announced lower than expected interim Q2 earnings and FY23 guidance, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:31 am

LCID

RIVN

TSLA

Gary Black, Managing Director of Future Fund, has suggested that electric vehicle startup Rivian Automotive (NASDAQ:RIVN) could be an attractive acquisition target for an established automaker. Black believes Rivian is undervalued compared to competitors like Lucid Group (NASDAQ:LCID) and Tesla (NASDAQ:TSLA). He suggests adjusting Rivian's enterprise value by deducting its $11 billion net cash from the market cap, resulting in an enterprise value of $15 billion.

Portfolio Pulse from Shanthi Rexaline

July 13, 2023 | 10:10 am

CD

Chindata has received a non-binding 'take private' proposal from CMC at $9.2 per ADS. The company's directors have not yet made any decisions regarding the proposal.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:02 am

CVNA

JP Morgan analyst Rajat Gupta has downgraded Carvana (NYSE:CVNA) from Neutral to Underweight and set a price target of $10.

Portfolio Pulse from richadhand@benzinga.com

July 13, 2023 | 10:02 am

AMZN

C

JPM

MSFT

VMW

WFC

US stocks settled higher on Wednesday, with the Nasdaq surging over 1% due to easing inflation rates. Big banks such as JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Company are set to release earnings on Friday. Vmware, Inc shares gained 2.8% after Broadcom Inc won approval to acquire it. The Nasdaq 100 rose 1.24% amid gains in shares of Amazon.com, Inc. and Microsoft Corp. The CBOE Volatility Index fell 8.8%.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 10:00 am