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MARA

VERB

Marathon Digital Holdings has appointed Salman Khan as its new CFO, replacing retiring CFO Hugh Gallagher. Khan previously served as CFO for Verb Technology Company.

Portfolio Pulse from Lekha Gupta

June 07, 2023 | 11:57 am

SBUX

Starbucks plans to attract value-conscious customers in India by offering smaller, cheaper beverages and expanding into smaller towns. The company faces competition from local chains Third Wave and Blue Tokai, which have grown rapidly in recent years.

Portfolio Pulse from Anusuya Lahiri

June 07, 2023 | 11:52 am

BLDE

JOBY

SES

USX

VRT

The most overbought stocks in the industrials sector include SES AI Corporation, Blade Air Mobility, Joby Aviation, Vertiv Holdings, and U.S. Xpress Enterprises. These companies have high RSI values, indicating they may be overvalued and present an opportunity to go short.

Portfolio Pulse from Lisa Levin

June 07, 2023 | 11:49 am

BABA

JD

PDD

Chinese stocks, including Alibaba, JD.com, and PDD Holdings, are trading lower following weaker export numbers for May in China. Exports fell by 7.5% last month, and the offshore yuan weakened against the U.S. dollar. PDD's short interest has returned to unprecedented levels due to e-commerce price wars and weaker economic growth.

Portfolio Pulse from Anusuya Lahiri

June 07, 2023 | 11:42 am

OLLI

Ollie's Bargain Outlet has raised its FY23 net sales guidance from $2.036B-$2.058B to $2.052B-$2.067B, surpassing the consensus estimate of $2.04B.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 11:38 am

META

SNAP

Meta Platforms is testing a new AI chatbot feature on Instagram, enabling users to chat with an AI chatbot in their direct messages. The chatbot is similar to Snapchat's My AI, which failed to gain traction. Meta has also been incorporating generative AI technology into various features across its platforms, including ads.

Portfolio Pulse from Anusuya Lahiri

June 07, 2023 | 11:36 am

COIN

QQQ

SPY

TSLA

YXT

US stock futures indicate a flat opening on Wednesday as uncertainty prevails ahead of the Federal Reserve's decision next week. Stocks ended slightly higher on Tuesday, with the Nasdaq Composite reaching its highest level since April 20, 2022. LPL Financial's Adam Turnquist advises caution, remaining neutral on equities. In premarket trading, SPY and QQQ ETFs edged up, while several companies, including COIN, YXT, and TSLA, saw premarket gains.

Portfolio Pulse from Shanthi Rexaline

June 07, 2023 | 11:34 am

AMZN

CRM

CSCO

OKTA

ORCL

Salesforce CEO Marc Benioff has reshuffled top management following the company's slowest quarterly revenue growth since 2010. Miguel Milano has been appointed as Chief Revenue Officer, and Ariel Kelman as Chief Marketing Officer. Salesforce is facing pressure from activist investors advocating for operational improvements and cost-control initiatives.

Portfolio Pulse from Anusuya Lahiri

June 07, 2023 | 11:32 am

UNVR

Univar Solutions reported that de-stocking impacted the company's Q4 2022 and Q1 2023 results, but has generally abated in Q2 2023.

Portfolio Pulse from Charles Gross

June 07, 2023 | 11:28 am

CPB

Campbell Soup Company reaffirms its FY23 guidance, projecting net sales growth of 8.5%-10% and adjusted EPS of $2.95-$3.00, slightly below the $3.01 estimate.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 11:23 am