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SXT

Sensient Technologies (NYSE:SXT) reported Q2 earnings of $0.81 per share, missing the analyst consensus estimate of $0.88 by 7.95%. This is a decrease of 11.96% from the same period last year. The company also reported quarterly sales of $374.31 million, missing the analyst consensus estimate of $382.62 million by 2.17%. However, this is a slight increase of 0.70% over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:58 am

SIRI

Deutsche Bank analyst Bryan Kraft has downgraded Sirius XM Holdings (NASDAQ:SIRI) from Buy to Sell and set a price target of $6.25.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 10:48 am

CCF

KKR

Chase Corp has signed a definitive agreement to be acquired by KKR for $1.3 billion. KKR will acquire all outstanding shares of Chase common stock for $127.50 per share in cash, implying a valuation of approximately 13 times trailing-twelve-months EBITDA.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:47 am

ALTG

CSX

ENVX

ISRG

KNX

NVX

SIRI

Several big stocks are recording losses in today's pre-market trading session. Sirius XM Holdings Inc. shares dipped 9.8% after being downgraded by Pivotal Research and Evercore ISI Group. Enovix Corporation shares fell 6.2% after TD Cowen downgraded the stock. Knight-Swift Transportation Holdings Inc. shares declined 5.3% after reporting worse-than-expected Q2 earnings results and cutting 2023 EPS outlook. CSX Corporation shares fell 5% after reporting in-line earnings for Q2, but sales missed expectations. Intuitive Surgical, Inc. shares declined 4.8% despite reporting better-than-expected Q2 earnings. Alta Equipment Group Inc. shares fell 4% after reporting preliminary Q2 results and announcing a public offering of 2 million shares. Novonix Limited shares declined 3%. Blackstone Inc. shares fell 2.1% after reporting worse-than-expected Q2 sales results.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 10:26 am

JNJ

TSM

Investor sentiment declines as Nasdaq falls 2%. Cathie Wood's Ark Invest reduces GM stake and buys more Taiwan Semiconductor shares. UK Finance Ministry disagrees with calls to regulate crypto as gambling. CoinDesk is on the verge of a $125M acquisition. Microsoft-Activision deal may be heading towards settlement talks. AutoNation expected to report lower Q2 earnings. Starbucks partners with K-Pop stars BLACKPINK for potential sales boost. J&J investors will soon be able to exchange shares for Kenvue stocks.

Portfolio Pulse from Akanksha Bakshi

July 21, 2023 | 10:24 am

HITI

High Tide has filed a prospectus for a mixed shelf of up to C$100 million.

Portfolio Pulse from Charles Gross

July 21, 2023 | 10:17 am

EBS

The FDA has approved Emergent BioSolutions Inc's (NYSE:EBS) two-dose anthrax vaccine, Cyfendus, for adults aged 18 through 65. The vaccine is approved for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis. The U.S. government has been procuring this product for national preparedness efforts since 2019. Following the announcement, EBS shares jumped 17.28% in premarket trading.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 10:15 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares slumped nearly 10% following the company's Q2 earnings, wiping off roughly $90 billion off the company's market capitalization. This was despite the company exceeding top- and bottom-line expectations. The drop was attributed to an increase in the 'other income' component, a production warning for Q3, hints at more price cuts, and a lack of clarity on the margin outlook. CEO Elon Musk's net worth fell by $20.3 billion as a result.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 10:13 am

JNJ

NFLX

TSLA

US markets ended mixed on Thursday, with Tesla and Netflix dragging S&P 500 and NASDAQ lower, while Dow Jones recorded a nine-day winning streak following strong Q2 earnings from Johnson & Johnson. Asian markets closed lower on Friday, with Japan's Nikkei 225, Australia's S&P/ASX 200, Shanghai Composite, and Shenzhen CSI 300 all recording losses. However, the Hang Seng index in Hong Kong closed higher. In the Eurozone, the Pan-European STOXX 600 index was up, while the DAX index in Germany traded lower. The U.K.'s FTSE 100 traded higher following stronger than expected retail sales data.

Portfolio Pulse from Akanksha Bakshi

July 21, 2023 | 10:11 am

NFLX

TSLA

CNBC Mad Money host Jim Cramer has termed Tesla Inc (TSLA) and Netflix Inc (NFLX) as the greatest investments of all time. This comes after both companies reported their Q2 earnings. However, both stocks closed down on Thursday, with Tesla shares falling 9.7% and Netflix down 8.4%. Tesla's stock dipped after the earnings call due to lack of a clear timeline for the delivery of its upcoming Cybertruck and a warning that production will slow down in Q3.

Portfolio Pulse from Anan Ashraf

July 21, 2023 | 10:08 am