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PBI

Lakeview Investment Group & Trading Company, LLC, holding approximately 2.55% of Pitney Bowes Inc. (PBI) shares, issued an open letter urging PBI's Board to sell its Global Ecommerce (GEC) unit. Lakeview argues this sale could significantly reduce PBI's leverage ratio, potentially double its share price, and address the ongoing issue of leadership turnover. They believe divesting the money-losing GEC could enhance shareholder value by improving net income and balance sheet health, suggesting the company could then focus on debt reduction and share repurchases.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:10 pm

IPWR

Ideal Power Inc. has received an order for its SymCool power modules and drivers from a Forbes Global 500 leader in diverse power management markets, as reported exclusively to Benzinga.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:10 pm

ETN

Eaton Corporation's stock (ETN) is trading higher following the company's announcement of strong guidance for the second quarter and full year 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:08 pm

KO

Coca-Cola Company (NYSE:KO) reported a 3% year-on-year sales growth for the first quarter of FY24, reaching $11.3 billion and surpassing analyst expectations. The company saw a 2% decline in concentrate sales but a 13% increase in price/mix, with unit case volume growing by 1%. Organic revenues rose by 11%, with significant growth in Europe, Middle East, and Africa (15%) and North America (7%). Gross profit increased by 6% to $7.065 billion, though operating income fell by 36% to $2.14 billion. Adjusted EPS of $0.72 beat estimates, and operating cash flow saw a significant increase. Coca-Cola raised its FY24 organic revenue growth outlook to 8%-9% and its comparable currency neutral EPS growth outlook to 11%-13%. Despite the positive financial performance and outlook, KO shares dropped slightly by 0.18% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 30, 2024 | 1:08 pm

FCX

SCCO

Shares of copper companies, including FCX and SCCO, are trading lower due to a decline in copper prices, influenced by concerns over China's demand outlook.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:08 pm

TSLA

Tesla shares are trading lower following a pullback after the stock gained on Monday due to progress in China's Full Self-Driving (FSD) technology.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:06 pm

TREE

Lendingtree's shares surged following the announcement that the company exceeded Q1 estimates and provided optimistic future guidance.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:06 pm

BBVA

Banco Bilbao Vizcaya Argentaria (BBVA) shares are trading lower after the company confirmed its intention to start talks with Sabadell on a potential merger. This news indicates a significant move in the banking sector that could lead to a consolidation, affecting the market position and financial stability of both entities.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:05 pm

TREE

LendingTree has revised its FY24 revenue forecast upwards from the previous range of $650M-$690M to a new range of $690M-$720M, surpassing the estimated $670.255M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:01 pm

BIDU

TSLA

Goldman Sachs analyst Mark Delaney commented that Tesla Inc's Full Self-Driving (FSD) technology is not yet fully autonomous, despite the company's recent regulatory approval in China and partnership with Baidu Inc. for FSD service in China. Delaney views the China news as positive but has already factored the anticipated FSD/software revenue growth into Goldman Sachs' valuation of Tesla. Tesla's stock saw a significant increase following the approval. However, Delaney cautions about the challenges Tesla faces in adapting its FSD technology for China, including local adjustments and regulatory navigation. Goldman Sachs maintains a $175 price target for Tesla, with optimistic and downside scenarios ranging from $220-$300 and $65-$85, respectively.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 1:01 pm