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ALL

IAK

KBWP

Allstate Corporation (NYSE:ALL) has agreed to sell its Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion in cash. The sale is expected to generate a $600 million gain and increase deployable capital by $1.6 billion. However, Allstate's adjusted net income return on equity is projected to decrease by approximately 100 basis points. The deal is anticipated to close in the first half of 2025. Additionally, Allstate and StanCorp will form a product distribution partnership. Allstate's stock has gained over 60% in the last 12 months, and investors can gain exposure via Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) and iShares U.S. Insurance ETF (NYSE:IAK).

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 10:44 am

CAH

Cardinal Health has raised its fiscal year 2025 outlook for adjusted EPS to $7.55-$7.70 from the preliminary outlook of at least $7.50, surpassing the consensus of $7.53. The company provided detailed segment revenue and profit projections, along with other financial metrics including share repurchases and capital expenditures.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:38 am

LUV

Elliott Management announced its intention to nominate ten independent candidates for the Board of Southwest Airlines, aiming to restore the company's industry-leading position through board reconstitution, new leadership, and a comprehensive business review.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:29 am

KPLT

Katapult Holdings (NASDAQ:KPLT) reported a Q2 2024 adjusted EPS of $(1.27), beating the analyst consensus estimate of $(1.31) by 3.05%.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:25 am

MGIC

Magic Software Enterprises has reiterated its FY24 revenue guidance of $540 million to $550 million, aligning closely with the $544.42 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:25 am

SFL

SFL Corp reported Q2 2024 GAAP EPS of $0.16, beating the estimate of $(0.01). Sales were $190.915 million, surpassing the $183.950 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:21 am

TSLA

WeRide, a Chinese autonomous driving startup, has received approval from the California Public Utilities Commission to test its driverless vehicles with passengers in San Jose and nearby areas. This development intensifies competition in the autonomous vehicle sector, particularly for Tesla, which faces skepticism about maintaining its lead in the market.

Portfolio Pulse from Benzinga Neuro

August 14, 2024 | 10:07 am

DOLE

Dole has raised its full-year adjusted EBITDA target for 2024 to at least $370 million, up from the prior view of $360 million.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:06 am

KPLT

Katapult Holdings (NASDAQ:KPLT) reported Q2 sales of $58.86 million, missing the analyst consensus estimate of $59.00 million by 0.23%. Despite the miss, sales increased by 7.86% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 10:01 am

AVDE

AVSD

UBS

UBS Group AG reported strong Q2 FY24 earnings, with sales up 25% Y/Y to $11.9 billion, beating expectations. The Global Wealth Management division saw significant growth, and the company achieved substantial cost savings. UBS shares are trading higher, and investors can gain exposure through ETFs like AVDE and AVSD.

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 9:51 am