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Exxon Mobil Corporation plans to drill up to 30 wells in Guyana's Hammerhead project, aiming to boost daily oil output. The project, pending government approval, is expected to start production in 2029 and increase Guyana's capacity to over 1.4 million barrels per day. Exxon anticipates Hammerhead will produce 120,000-180,000 barrels of crude daily. The Stabroek joint venture generated significant profits for Exxon, Hess Corp., and CNOOC. Investors can gain exposure to Exxon via Energy Select Sector SPDR Fund and iShares U.S. Energy ETF.

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 10:41 am

PNC

PNC Financial Services Group (NYSE:PNC) reported Q2 2024 GAAP EPS of $3.39, missing the analyst estimate of $4.41 by 23.13%. Sales were $5.411 billion, slightly below the $5.412 billion estimate but up 2.23% from last year.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:41 am

STLA

Former Ford CEO Mark Fields expressed doubts about GM's ability to achieve mass adoption of its EVs, citing delays in hybrid market entry and EV production targets. GM announced a delay in its EV production target of one million units beyond 2025, attributing it to slower market development. Despite this, GM remains committed to an all-electric future, supported by a $1.1 billion grant from the Biden administration.

Portfolio Pulse from Benzinga Neuro

July 16, 2024 | 10:38 am

VIAV

VIAVI Solutions Inc. has launched new sensing solutions for fiber optic cables and fiber-enabled critical infrastructure. This development aims to enhance the performance and reliability of fiber networks.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:37 am

ANGO

AngioDynamics reported its Q4 2024 results, with an adjusted EPS of $(0.05), beating the estimate of $(0.16). Sales were $71.122 million, surpassing the $70.891 million estimate.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:36 am

NUVL

Nuvalent will present updated data from its ARROS-1 and ALKOVE-1 Phase 1/2 clinical trials at the ESMO Congress 2024. The trials focus on zidesamtinib and NVL-655, respectively.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:36 am

CRM

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Salesforce, Inc. (NYSE:CRM) has cut around 300 jobs to streamline operations amid a tech industry slowdown. This follows previous layoffs in January 2024 and 2023. Other tech companies like Intuit Inc. (NASDAQ:INTU), UiPath Inc. (NYSE:PATH), and Microsoft Corp. (NASDAQ:MSFT) have also announced layoffs. Salesforce stock has gained over 10% in the last 12 months, and investors can gain exposure via Vanguard S&P 500 ETF (NYSE:VOO) and Vanguard Total Stock Market ETF (NYSE:VTI).

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 10:23 am

ZENV

Zenvia has entered into a sales agreement with A.G.P./Alliance Global Partners to offer and sell Class A common shares worth up to $20 million.

Portfolio Pulse from charles@benzinga.com

July 16, 2024 | 10:05 am

ITA

PPA

A U.S. judge has set a rapid schedule for addressing objections from victims' families regarding Boeing's plea deal over the 737 MAX crashes. Boeing has agreed to plead guilty to criminal fraud conspiracy and pay a $243.6 million fine. The company will also spend $455 million over three years to enhance safety and compliance programs. Boeing stock has lost over 15% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 10:04 am

UNH

UnitedHealth has reaffirmed its 2024 adjusted EPS guidance of $27.50-$28.00, which is in line with the consensus estimate of $27.69. The company estimates a total full-year 2024 impact of $1.90 to $2.05 per share, with direct response costs and business disruption impacts contributing to this figure.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:04 am