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SHEL

Shell PLC (NYSE:SHEL) has revised its Q2 2023 outlook across all its businesses. The company updated the production outlook for Integrated Gas and Upstream, and expects Trading & Optimisation results to be significantly lower Q/Q. Shell also revised sales volumes guidance for Marketing and anticipates the outlook for refinery utilization in Chemicals & Products. The company expects to release Q2 results on July 20, 2023. Last month, Shell announced a 15% increase in dividend per share and a share repurchase of at least $5 billion for H2 2023.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 9:29 am

TSLA

Tesla Inc. has started laying off battery production workers at its Shanghai plant amidst a price war in China. The exact number of layoffs and specific reasons are unclear. Some employees have been offered transfers to other workshops. Automation equipment is being designed to potentially replace human labor on the battery production line. Despite layoffs, Tesla's deliveries from Shanghai rose almost 20% YoY in June. CEO Elon Musk is comfortable with making less money on each car sold, following several rounds of price cuts.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 9:27 am

BTCUSD

Samson Mow, CEO of Bitcoin firm Jan3, criticized Jim Cramer and Nassim Nicholas Taleb for their negative views on Bitcoin. Mow suggested that Bitcoin will become a key issue in politics, with candidates emphasizing its benefits. He also praised Robert Kennedy Jr.'s support for Bitcoin. At the time of writing, Bitcoin was trading at $30,122, down 2.48% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 9:10 am

HBM

Barclays analyst Matthew Murphy has upgraded Hudbay Minerals (NYSE:HBM) from Equal-Weight to Overweight.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 9:07 am

EWH

FXI

SPY

U.S. inspectors have started a new round of routine checks on audits of Wall Street-listed Chinese companies in Hong Kong, according to Reuters. This could potentially impact the performance of ETFs like EWH, FXI, and SPY.

Portfolio Pulse from Charles Gross

July 07, 2023 | 9:04 am

ETWO

E2open Parent Holdings, Inc. (NYSE:ETWO) is expected to report lower Q1 2024 earnings at 5 cents per share, down from 7 cents per share a year ago. The company's revenue is projected to be $160.62 million. The company's shares fell 2.6% to close at $5.35 on Thursday. Analysts from Credit Suisse and B of A Securities have recently downgraded the stock and cut the price target to $5, while Redburn Partners initiated coverage with a Buy rating.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 8:26 am

AZZ

COST

IPA

LEVI

SLP

AZZ Inc., Levi Strauss & Co., Costco Wholesale Corporation, Simulations Plus, Inc., and ImmunoPrecise Antibodies Ltd. are the stocks to watch heading into Friday. AZZ is expected to post quarterly earnings of $1.16 per share on revenue of $396.65 million. Levi Strauss reported upbeat earnings for Q2 but lowered its annual profit outlook. Costco reported a 1.4% drop in total comparable sales for June, while its net sales rose 0.4% YoY to $22.86 billion. Simulations Plus posted weaker-than-expected sales for Q3. Analysts expect ImmunoPrecise Antibodies to report a quarterly loss of 13 cents per share on revenue of $4.31 million.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 8:23 am

GRRR

Gorilla Technology has signed a $270 million contract with the Government of Egypt to implement a Smart Government Security Convergence solution. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 8:21 am

AAPL

RIVN

Trader and market analyst Steve Grasso is planning to exit Apple Inc. (AAPL) and invest in EV startup Rivian Automotive, Inc. (RIVN). Grasso sees Rivian as an exciting beta play with the potential for a spike higher, while Apple's upward trajectory may now be a grind higher after reaching the $3 trillion milestone. He believes that Rivian could easily trade between $30 and $50, given its strong fundamentals and transformation into a bona fide car company.

Portfolio Pulse from Shanthi Rexaline

July 07, 2023 | 6:39 am