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ATKR

Atkore (NYSE:ATKR) reported Q2 2024 adjusted EPS of $4.08, surpassing the $3.82 estimate, but its sales of $792.911M fell short of the expected $806.331M. This represents a 16.22% decrease in earnings and an 11.50% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:02 am

GEO

GEO Group reported Q1 2024 adjusted EPS of $0.18, missing the $0.19 estimate, and sales of $605.672M, slightly above the $603.851M estimate. This represents an 18.18% decrease in EPS and a 0.42% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:01 am

CVS

TD Cowen analyst Charles Ryhee downgraded CVS Health (NYSE:CVS) from Buy to Hold and reduced the price target from $99 to $59, indicating a more cautious outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:59 am

KGRN

NIO

PGJ

TSLA

XPEV

Nio Inc is launching a new mass-market EV brand, Onvo, targeting Tesla's Model Y, with plans to introduce a model under $30,000 in Europe next year. The Onvo brand will feature the L60 model, aiming for global launch by year-end, while a second sub-brand, Firefly, targets a 2025 release. Nio is expanding in Europe, moving away from its subscription model to increase distribution. Amid cost-cutting measures, Nio's stock has declined over the past year, but it remains accessible through ETFs like KGRN and PGJ.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 9:49 am

TSLA

Tom Zhu, rumored to be Elon Musk's successor at Tesla, is returning to his role in China amid a broader executive shake-up and ongoing layoffs at Tesla. Zhu's return to China, where he previously contributed significantly to the Giga Shanghai project, coincides with Tesla's fourth week of layoffs, affecting thousands of employees across various departments. This move is seen as strategic, potentially strengthening Tesla's position in the crucial Chinese EV market.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 9:42 am

AUDC

BILI

BYON

FMS

GFI

LCID

PLTR

TRUP

AudioCodes reported disappointing Q1 earnings, leading to a significant pre-market drop in its shares. Other companies like Trupanion, Palantir Technologies, Lucid Group, Beyond, Fresenius Medical Care, Bilibili, and Gold Fields also saw their shares decline in pre-market trading due to various reasons including poor financial results and soft revenue guidance.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 9:33 am

LCID

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), mocked Lucid Group (NASDAQ:LCID) following their Q1 report showing a net loss of $680.9 million with $172.7 million in revenue. Musk's reaction came after comments on Twitter and Lucid CEO Peter Rawlinson's claims about Lucid's in-house technology and partnership with Saudi Arabia's Public Investment Fund. Musk has previously criticized Lucid's spending, potential bankruptcy, and Rawlinson's compensation.

Portfolio Pulse from Anan Ashraf

May 07, 2024 | 9:23 am

FXI

TSLA

Reuters reported that Tesla sold 62,167 China-made vehicles in April, marking an 18% decrease year-over-year, according to the China Passenger Car Association.

Portfolio Pulse from Charles Gross

May 07, 2024 | 9:12 am

SHIBUSD

'Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) experienced an 84% decrease in its burn rate over the last 24 hours, with only 12.47 million coins burned. This decline is attributed to reduced activity on its layer-2 blockchain, Shibarium, despite a previous upward trend in token burning. SHIB's price fell nearly 5% in the same period, with trading volume increasing by 70%.

Portfolio Pulse from Aniket Verma

May 07, 2024 | 8:49 am

SKWD

Skyward Specialty Insurance (SKWD) has announced a secondary offering of 4.4 million shares priced at $36.50 per share by The Westaim Corporation. Skyward Specialty will not benefit financially from this offering as all proceeds go to The Westaim Corporation, who will also cover the underwriting discounts and commissions.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:04 am