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BABA

BIDU

EWH

JD

NIO

TME

China is taking measures to protect its economy from the impact of its real estate sector crisis. These include substantial reductions in bank deposit and mortgage rates, and promises of increased stimulus measures. The mortgage rate cuts are targeted at loans for primary residences. China also announced a 50% reduction in stock-trading stamp duties and approved guidelines for affordable housing. The Hang Seng index, tracked by the iShares MSCI Hong Kong Index Fund (NYSE:EWH), posted a 2% surge. U.S.-listed Chinese stocks, including Alibaba Group Holdings (NYSE:BABA), Tencent Music Entertainment Group (NYSE:TME), JD.com Inc. (NASDAQ:JD) and Baidu Inc. (NASDAQ:BIDU), are trading about 1.5% higher in premarket trading. However, NIO Inc. (NASDAQ:NIO) declined over 6% after reporting disappointing Q2 earnings.

Portfolio Pulse from Piero Cingari

August 29, 2023 | 12:46 pm

GOGL

Golden Ocean Group Ltd (NASDAQ:GOGL) reported Q2 FY23 revenue of $213.38 million, exceeding consensus of $148.97 million. The company's operating expenses were $169.8 million, and net operating income declined to $43.6 million from $155.8 million in the prior year quarter. Adjusted EPS of $0.17 was better than the consensus of $0.12. The company announced a cash dividend of $0.10 per share for Q2 and repurchased shares worth $6.9 million in the quarter. GOGL shares are trading higher by 4.06% at $7.18 premarket on the last check Tuesday.

Portfolio Pulse from Lekha Gupta

August 29, 2023 | 12:41 pm

AMC

GOGO

SE

TRMR

VEON

The article lists five oversold stocks in the communication services sector that could potentially boost a portfolio. The stocks mentioned are AMC Entertainment Holdings, Tremor International, Sea Limited, Gogo Inc., and VEON Ltd. The companies have been identified as oversold based on their Relative Strength Index (RSI) values, which are all below or near 30.

Portfolio Pulse from Lisa Levin

August 29, 2023 | 12:39 pm

AXLA

Axcella has been granted a patent for a treatment for long COVID fatigue, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:36 pm

GSAT

Globalstar has appointed Dr. Paul Jacobs as CEO and announced a licensing agreement with XCOM Labs. This news has led to an increase in Globalstar's share price.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:35 pm

CWCO

Consolidated Water Co. Ltd. (CWCO) has increased its quarterly cash dividend by 11.8% to $0.095 per share for Q4 2023, payable on October 31, 2023. The company's strong growth across all business segments has resulted in increased profitability and cash flow. CWCO also reported a 110% increase in Q2 2023 revenue to $44.2 million, driving an increase in EPS to $0.47.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 12:33 pm

CRWD

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is set to release its Q2 2024 financial results on August 30, 2023. The options market predicts a stock decline, with CrowdStrike trading about 2x its average daily put volume. Analysts expect the company to report quarterly earnings at 56 cents per share on revenue of $724.13 million.

Portfolio Pulse from Lisa Levin

August 29, 2023 | 12:32 pm

NIO

Nio reported worse-than-expected Q2 financial results and issued Q3 guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:31 pm

TNET

TriNet Group, Inc. (NYSE:TNET) has announced the preliminary results of its fixed price tender offer to repurchase up to 5,981,308 shares of its common stock, representing approximately $640 million in value, at a price of $107.00 per share. The company also entered into a repurchase agreement with Atairos Group, Inc., its largest stockholder, to purchase at least 3,364,486 shares, representing approximately $360 million in value. The total shares to be acquired in the tender offer and the share repurchase represent approximately 16% of the company's outstanding shares.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 12:30 pm

SCVL

Shoe Carnival, Inc. (NASDAQ:SCVL) reported Q2 sales of $294.62 million, down 5.7% YoY but beating consensus estimates. However, its EPS of $0.71 missed the analyst consensus of $0.84. The company cited soft traffic results in lower-income households and urban markets as a reason for the decline. It also reduced its 2023 net sales outlook and EPS guidance. Despite this, the company plans to add 6 to 10 new stores in FY23 and aims to surpass 500 stores by 2028.

Portfolio Pulse from Nabaparna Bhattacharya

August 29, 2023 | 12:23 pm