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QS

QuantumScape Corp (NYSE:QS) shares are trading lower after the company proposed a $300 million public offering. The company also intends to grant the underwriters an option to purchase up to an additional $45 million worth of stock. The proceeds will be used for working capital and general corporate purposes. QuantumScape reported Q2 financial results last week, with $232.84 million in cash and equivalents. The company maintained its full-year outlook for capital expenditures of $100 million to $150 million and cash operating expenses of $225 million to $275 million.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 1:28 pm

SHC

Shares of Sotera Health (SHC) were halted on a circuit breaker to the upside, but the stock is now down by 8.28%.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:28 pm

BABA

META

Alibaba's stock is trading higher following the announcement of its cloud computing unit launching two open-sourced AI models, Qwen-7B and Qwen-7B-Chat, to compete with Meta Platforms. This comes amid new smartphone usage restrictions for youths imposed by China's Cyberspace Administration.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:28 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) reported Q2 results showing a sequential decline in active accounts, leading to a drop in its share price. Despite a YoY revenue increase of 7% to $7.29 billion and quarterly earnings of $1.16 per share, both beating estimates, the company's active accounts fell from 433 million in Q1 to 431 million. Following the results, multiple analysts lowered their price targets for PayPal. The company anticipates Q3 revenue of approximately $7.4 billion and reiterated full-year earnings guidance of approximately $4.95 per share.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 1:27 pm

CCL

An option alert has been issued for Carnival Corporation (CCL) for August 11 $20 calls. The sweep is near the ask with 5000 @ $0.07 versus an open interest of 6006. The company's earnings are expected to be released on September 19 before the market opens. The reference price is $17.4407.

Portfolio Pulse from Charles Gross

August 04, 2023 | 1:27 pm

WBD

Warner Bros. Discovery, Inc (NASDAQ:WBD) reported a Q2 FY23 revenue decline of 4% to $10.36 billion, missing the consensus of $10.47 billion. The company's EPS loss of $(0.51) also missed the consensus loss of $(0.39). Studios revenues were down by 24%, while Networks revenues were down by 5%. DTC revenues were up 14%, but total DTC subscribers decreased by 1.8 million. The company anticipates a $100 million impact on operating cash flow due to the WGA strike.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:27 pm

FWRD

Shares of Forward Air Corporation (FWRD) were halted on a circuit breaker due to a significant drop in price. The stock is currently down by 9.86%.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:27 pm

DASH

Susquehanna analyst Shyam Patil maintains a positive outlook on DoorDash (NYSE:DASH), raising the price target from $85 to $110.

Portfolio Pulse from jenniferd'souza@benzinga.com

August 04, 2023 | 1:26 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) reported Q2 financial results, beating estimates with $486 million in revenue and 3 cents EPS. However, the company's shares are trading lower. Total net revenues increased 53% YoY and 10% sequentially, while transaction-based revenues fell 7% QoQ. The company ended the quarter with $5.8 billion in cash and equivalents. Barclays and Citigroup analysts maintained their ratings but raised the price target for Robinhood.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 1:26 pm

FVRR

Fiverr International Ltd reported Q2 FY23 sales growth of 5.1% YoY to $89.4 million, slightly above the consensus of $89.2 million. Non-GAAP gross margin expanded by 150 bps to 84.2%, and the adjusted EBITDA margin expanded by 1,170 bps to 17.1%. The company raised its FY23 revenue and adjusted EBITDA outlook. FVRR shares are trading higher by 5.43% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:26 pm