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Dollar General Corp (NYSE:DG) reported Q2 FY23 sales growth of 3.9% to $9.80 billion, missing the analyst consensus of $9.92 billion. Same-store sales decreased 0.1% versus last year, and the gross profit margin for the quarter decreased to 31.1%. The company lowered its FY23 net sales growth outlook from 3.5%-5% to 1.3% - 3.3% and EPS guidance from $9.83 - $10.68 to $7.10 - $8.30. DG shares are trading lower by 16.9% at $131.00 in premarket.

Portfolio Pulse from Shivani Kumaresan

August 31, 2023 | 11:43 am

ANET

CHRW

CRM

CRWD

ETN

EVO

GWRE

MMM

MPW

OKTA

SHOP

Several analyst forecasts were released on Thursday, with notable changes in price targets for multiple companies. Notably, Needham raised the price target for CrowdStrike Holdings, Inc. (CRWD) from $170 to $200, while Susquehanna cut C.H. Robinson Worldwide, Inc. (CHRW) price target from $88 to $77. Other companies with adjusted price targets include Okta, Inc. (OKTA), Shopify Inc. (SHOP), Arista Networks, Inc. (ANET), Evotec SE (EVO), Medical Properties Trust, Inc. (MPW), Guidewire Software, Inc. (GWRE), 3M Company (MMM), Salesforce, Inc. (CRM), and Eaton Corporation plc (ETN).

Portfolio Pulse from Lisa Levin

August 31, 2023 | 11:37 am

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) shares fell over 3% in premarket trading following a downgrade from Morgan Stanley analyst Keith Weiss from Equal-Weight to Underweight. Weiss cited an unfavorable risk-reward balance and predicted a potential 45% downside from current levels. However, opinions among analysts are divided, with Wedbush analyst Daniel Ives maintaining a bullish stance on the company.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 11:31 am

CPB

Campbell Soup Company (CPB) has projected its net sales for FY24 to be down 0.5% to up 1.5%. The company also estimates its adjusted EPS to be between $3.09 and $3.15, compared to the estimated $3.09.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:19 am

CRM

OKTA

PLTR

QQQ

SPY

Wall Street stocks are expected to open mixed after four consecutive sessions of gains. Traders are eyeing key economic data, including the personal income and spending report for July. Morgan Stanley's Lisa Shalett highlighted three risks that necessitate caution among investors: surging real Treasury rates, deteriorating Chinese economic growth, and mixed U.S. economic data. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.13% and the Invesco QQQ ETF edged down 0.03%. Salesforce, Okta, Chewy, Victoria’s Secret, and Five Below reacted to earnings, while Palantir fell following a bearish recommendation from Morgan Stanley.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 11:17 am

MOMO

Hello Group Inc (NASDAQ:MOMO) reported a Q2 FY23 net revenue growth of 0.9% YoY to $432.7 million, surpassing the consensus of $416.8 million. However, the company saw a decline in Monthly Active Users (MAU) on the Tantan application and total paying users of its Momo app. The company's Q3 revenue outlook is lower than the consensus estimate.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 11:16 am

EEMA

EWU

EZU

FLAX

SPY

US markets closed in green on August 30, despite economic data indicating a slowdown in the US economy. The S&P 500, Dow Jones, and Nasdaq all saw gains, with the largest increases in information technology and energy stocks. Asian markets were mixed, with gains in Japan and Australia, but losses in China and Hong Kong. European markets also saw mixed results, with gains in the STOXX 600 and DAX index, but a slight fall in France's CAC 40. Commodities saw crude oil rise, while natural gas, gold, silver, and copper fell. US futures were mixed, and the US Dollar Index rose.

Portfolio Pulse from Akanksha Bakshi

August 31, 2023 | 11:14 am

PSNY

Polestar, a Swedish electric vehicle manufacturer, expects to deliver between 60,000 and 70,000 vehicles in 2023, with a gross margin of 4%. PSNY, the SPAC that is taking Polestar public, is directly mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:06 am

Dollar General reported worse-than-expected Q2 earnings and lowered its FY23 outlook, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:05 am

UGI

UGI Corporation (NYSE:UGI) has initiated a process to evaluate potential strategic alternatives to maximize shareholder value. The review will focus on the LPG businesses and aims to reduce UGI's earnings volatility and strengthen its balance sheet. The company has engaged Goldman Sachs & Co. LLC and J.P. Morgan Securities, LLC as advisors. UGI shares traded higher by 7.40% at $24.83 premarket Thursday.

Portfolio Pulse from Shivani Kumaresan

August 31, 2023 | 11:05 am