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ITRN

Ituran Location and Control (ITRN) has reiterated its expectations for continued revenue and profit growth for FY24, projecting the addition of 35,000 to 40,000 new subscribers per quarter. The company expects full-year 2024 EBITDA to be between $90-95 million and aims to surpass $100 million in 2025, assuming stable exchange rates and no significant deterioration in global macro-economic or political conditions.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:46 am

ITRN

Ituran Location & Control reported Q2 2024 GAAP EPS of $0.66, beating the estimate of $0.60. However, sales were $84.869 million, missing the estimate of $86.100 million.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:42 am

AMD

NVDA

PANW

QQQ

SPY

WMT

US stocks are set to start the week on a flat note with a focus on upcoming Fed speeches and the Democratic National Convention. The S&P 500 and Nasdaq Composite are on a seven-session winning streak. Chip stocks, including Micron Technology, Nvidia, and AMD, weakened in premarket trading. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed minor movements. Analysts suggest strong gains if the S&P 500 extends its winning streak to eight sessions. Estée Lauder and Palo Alto Networks are set to release quarterly results.

Portfolio Pulse from Shanthi Rexaline

August 19, 2024 | 10:38 am

Barclays analyst Amos Fletcher has upgraded ArcelorMittal (NYSE:MT) from Equal-Weight to Overweight.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:25 am

JBHT

J.B. Hunt Transport Services has announced a new share repurchase program authorizing the buyback of $1 billion of its common stock. The timing and amount of repurchases will depend on market conditions and other factors. This program will commence after the completion of the existing $500 million repurchase program.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:21 am

SPY

Federal Reserve's Neel Kashkari suggests that a discussion about potentially cutting interest rates in September is appropriate, as the balance of risks has shifted more towards the labor market and away from inflation. This indicates a possible rate cut due to a weaker job market.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:21 am

IYG

XLF

Mastercard plans to cut about 1,000 jobs, representing 3% of its global workforce, to realign regions and businesses for growth. Despite the layoffs, Mastercard recently reported strong Q2 earnings, beating analyst expectations. Shares are trading lower premarket.

Portfolio Pulse from Lekha Gupta

August 19, 2024 | 10:16 am

TNXP

Tonix Pharmaceuticals reported a Q2 2024 GAAP EPS of $(19.28), significantly missing the $(3.27) estimate. Sales were $2.208 million, also missing the $3.500 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 10:06 am

EQNR

GINX

KEAT

Equinor ASA (NYSE:EQNR) has shut down production at its Gullfaks C platform in the North Sea due to a well control incident. The company evacuated some workers as a precaution and reported that gas production at the Gullfaks field will be reduced by 6.6 million cubic meters per day. Equinor's shares are down 2.62% premarket. Investors can gain exposure to Equinor via SGI Enhanced Global Income ETF (NASDAQ:GINX) and Keating Active ETF (NASDAQ:KEAT).

Portfolio Pulse from Lekha Gupta

August 19, 2024 | 9:50 am

AAPL

BRK

Warren Buffett's $189 billion cash pile at Berkshire Hathaway is not a sign of an impending market crash, according to fund manager Chris Bloomstran. The cash position is in line with historical averages and is part of a broader strategy, including significant investments in U.S. Treasury bills and stock sales, such as a reduction in Apple holdings.

Portfolio Pulse from Benzinga Neuro

August 19, 2024 | 9:39 am