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MU

Micron Technology Inc (NASDAQ:MU) expects the recent China ban on memory chip sales to negatively impact revenues. The company's CFO estimates the impact to be in the low to high single-digit percentage of total company revenue. The Cyberspace Administration of China flagged cybersecurity issues with Micron products and urged domestic firms to stop buying from Micron.

Portfolio Pulse from Lekha Gupta

May 23, 2023 | 1:20 pm

CTRN

Citi Trends Inc (NASDAQ:CTRN) reported a 13.7% YoY decline in Q1 FY23 sales to $179.7 million, missing analyst estimates. Adjusted EPS of $(0.66) also missed the consensus of $(0.30). The company updated its FY23 sales guidance and lowered its EBITDA and capital expenditure outlook.

Portfolio Pulse from Shivani Kumaresan

May 23, 2023 | 1:19 pm

GH

Guardant Health Inc (NASDAQ:GH) shares are trading lower after announcing a $350 million public offering of 12.5 million shares at $28 per share. The offering is expected to close on May 25, with the company anticipating $350 million in gross proceeds.

Portfolio Pulse from Adam Eckert

May 23, 2023 | 1:18 pm

JMIA

Jumia Technologies reported a Q1 FY23 revenue decline of 2.8% YoY to $46.3 million, missing the consensus of $50.5 million. Orders and active consumers declined, while cost reduction initiatives helped reduce losses. The company reiterated an adjusted EBITDA loss of $(100) million - $(120) million for FY23.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 1:17 pm

CFG

COLB

MC

Three high-yielding dividend stocks in the financial sector have been identified by Wall Street's most accurate analysts. These stocks are Citizens Financial Group (CFG), Moelis & Company (MC), and Columbia Banking System (COLB).

Portfolio Pulse from Lisa Levin

May 23, 2023 | 1:17 pm

LOW

Lowes executive stated in a conference call that they expect a pullback in discretionary consumer spending in the near term.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:17 pm

USFD

US Foods has announced a $150 million share buyback program, signaling confidence in the company's future growth and potentially boosting its stock price.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:16 pm

RIDE

Lordstown Motors announced a 1:15 reverse stock split of its Class A common stock effective May 24, 2023, to improve marketability and liquidity. The stock has plunged 73.5% YTD and 13% last week. The company faces potential bankruptcy after Foxconn Ventures sought to withdraw from a $170 million investment deal.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 1:14 pm

USFD

US Foods has announced the pricing of its secondary public offering of common stock at $34.50 per share. The offering is expected to close on February 18.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 1:13 pm

HTCR

IDAI

KSPN

QBTS

QUBT

SBIG

12 IT stocks experienced significant price movements in Tuesday's pre-market session, with 6 gainers and 6 losers. Notable gainers include HeartCore Enterprises, Quantum Computing, and T Stamp, while notable losers include Kaspien Hldgs, D-Wave Quantum, and SpringBig Holdings.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 1:08 pm