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LOW

Lowe's Companies reported a 5.5% YoY decline in Q1 FY23 sales to $22.35 billion, beating estimates. The decline was driven by lumber deflation, unfavorable weather, and lower DIY discretionary sales. The company cut its FY23 revenue and EPS outlook due to low consumer demand and lumber deflation.

Portfolio Pulse from Shivani Kumaresan

May 23, 2023 | 11:15 am

QQQ

SPY

US stocks are poised for a flat open on Tuesday due to the debt ceiling impasse. Analyst Ryan Detrick believes October lows won't be violated, citing the S&P 500's 200-day moving average trending higher. In premarket trading, SPDR S&P 500 ETF Trust (SPY) fell 0.12% and Invesco QQQ ETF (QQQ) slipped 0.08%.

Portfolio Pulse from Shanthi Rexaline

May 23, 2023 | 11:15 am

TNXP

Tonix Pharmaceuticals announced the isolation and functional characterization of two isomers of racemic tianeptine, with the (S)-isomer, TNX-4300 (estianeptine), showing potential for treating MDD, bipolar disorder, Alzheimer's, and Parkinson's disease. The company has begun preclinical development of TNX-4300.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 11:09 am

QQQ

SPY

Despite the ongoing debt ceiling crisis, the S&P 500 and Nasdaq Composite have reached 9-month highs. The options market outlook for SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) indicates potential resistance and support levels in the short term.

Portfolio Pulse from Bhavik Nair

May 23, 2023 | 11:01 am

AZO

AutoZone's inventory increased by 7.4% YoY, indicating a potential growth in sales and revenue for the company.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 10:58 am

ACHR

ICVX

IONQ

LILM

MYGN

PACW

WAL

PacWest Bancorp, IonQ, Lilium, Myriad Genetics, Icosavax, Archer Aviation, and Western Alliance Bancorporation recorded gains in Tuesday's pre-market trading session. Factors include loan agreements, partnerships, upgrades, and direct offerings.

Portfolio Pulse from Lisa Levin

May 23, 2023 | 10:57 am

PLX

Protalix BioTherapeutics (PLX) is set to join the Russell 3000 Index, which may increase its visibility and attract more investors.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 10:52 am

CTRN

Citi Trends has updated its FY23 sales outlook, revising the expected decline from low double digits to mid-teens to a more moderate mid single-digits to low single-digits decline.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 10:50 am

BJ

BJ's Wholesale Club (NYSE:BJ) reported Q1 earnings with in-line EPS of $0.85 and revenue up $227 million YoY. Last quarter, the company beat EPS estimates by $0.13, followed by a 1.68% drop in share price the next day.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 10:50 am

BJ

BJ's Wholesale Club's CFO, Laura Felice, reiterated the company's FY23 outlook remains unchanged due to sustained strength in the grocery business and market share gains.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 10:49 am