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TILE

Interface has raised its 2024 net sales outlook to $1.30B-$1.32B from the prior $1.29B-$1.31B, surpassing the $1.298B consensus. The company also projects an adjusted gross margin of approximately 36.0% for the full fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:37 am

TILE

Interface (NASDAQ:TILE) reported Q2 2024 earnings per share of $0.40, significantly beating the analyst estimate of $0.28. The company also reported sales of $346.6 million, surpassing the estimate of $340.276 million. Both earnings and sales showed substantial year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:32 am

AMZN

META

NVDA

Amazon CEO Andy Jassy highlighted the company's multi-faceted AI strategy during a recent earnings call, emphasizing the role of Amazon Web Services (AWS) and partnerships with companies like Nvidia. Despite advancements in AI, Amazon faces challenges such as declining average selling prices and external factors impacting revenue forecasts.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 9:30 am

FXI

TSLA

Tesla sold 74,117 China-made vehicles in July, marking a 15.3% year-over-year increase, according to the China Passenger Car Association.

Portfolio Pulse from charles@benzinga.com

August 02, 2024 | 9:25 am

AAPL

CRWD

DAL

MSFT

Delta Air Lines CEO Ed Bastian criticized Microsoft's platform for its fragility following a CrowdStrike update that caused a $500M loss for Delta. He praised Apple's stability and mentioned Delta's integration of Apple products. Delta plans to sue Microsoft and CrowdStrike for damages.

Portfolio Pulse from Rounak Jain

August 02, 2024 | 9:25 am

AMD

INTC

MSFT

NVDA

Nvidia's stock fell nearly 4% in pre-market trading due to reports of a DOJ antitrust investigation over monopolistic practices in the AI chip market. The probe examines whether Nvidia pressured cloud providers to buy multiple products and charged higher prices for networking gear if customers wanted to buy AI chips from rivals like AMD and Intel. The investigation is part of a broader regulatory focus on the AI sector.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 9:05 am

COIN

Coinbase CEO Brian Armstrong discussed the bipartisan support for cryptocurrencies during the company's Q2 2024 earnings call. He emphasized that the crypto industry is now taken seriously in D.C. and is no longer seen as partisan. This follows positive comments from former President Trump and a recent upgrade of Coinbase shares by Citi. Despite a fall in transaction revenue, Coinbase reported a revenue beat, with Bitcoin accounting for a significant portion of trading volumes. Cathie Wood's Ark Invest recently sold shares in Coinbase, and the stock saw a 3.23% increase in after-hours trading.

Portfolio Pulse from Aniket Verma

August 02, 2024 | 7:13 am

BYDDF

NIO

XPEV

BYD Co Ltd reported a 31% increase in new energy passenger vehicle sales in July, despite a 4% drop in pure EV sales. The decline in BEV sales was offset by a 67% rise in hybrid vehicle sales. Li Auto, XPeng, and Nio also reported their July delivery numbers, with Li Auto leading the pack.

Portfolio Pulse from Anan Ashraf

August 02, 2024 | 7:11 am

CVX

HES

Chevron Corporation (NYSE:CVX) is set to release its Q2 earnings on August 2, with analysts expecting a decrease in EPS from $3.28 to $2.93, but an increase in revenue from $48.9 billion to $50.80 billion. Additionally, arbitration claims by Exxon Mobil and CNOOC Ltd could impact Chevron's proposed $53 billion acquisition of Hess Corp (NYSE:HES). Chevron's stock fell 4.9% to $152.62. Analyst ratings have been mixed, with some downgrades and some price target increases.

Portfolio Pulse from Avi Kapoor

August 02, 2024 | 6:58 am

AAPL

Apple's Vision Pro is gaining traction in the enterprise market, with companies like Boston Children's Hospital and Lufthansa adopting the device for workforce training. CEO Tim Cook highlighted the growing app ecosystem around Vision Pro and its potential to revolutionize professional development. Despite a slight dip in stock price, Apple's third-quarter earnings beat expectations, and the company returned over $32 billion to shareholders.

Portfolio Pulse from Kaustubh Bagalkote

August 02, 2024 | 6:50 am