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GRFS

Grifols shares are trading higher following the completion of government approval procedures for the 20% stake transfer of SRAAS to Haier Group.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:48 am

GM

GS

UBS

General Motors Co (NYSE:GM) backed Chinese self-driving company Beijing Momenta Technology Co. has confidentially filed for a U.S. IPO, aiming to raise $200-$300 million. The IPO is being managed by China International Capital Corp., Goldman Sachs Group Inc. (NYSE:GS), and UBS Group AG (NYSE:UBS), with a potential launch this year. The decision to proceed with the U.S. IPO is still under consideration. GM's shares rose 0.53% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:46 am

MU

Micron Technology's stock (MU) is trading higher following an upgrade by Baird from Neutral to Outperform, with a price target increase from $115 to $150.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:44 am

TSLA

Revel, a ride-hailing company, is in talks to acquire four abandoned Supercharger sites from Tesla Inc. (NASDAQ:TSLA) in New York. These sites, ready for about 60 charging stalls, align with Revel's expansion plans. Revel's interest in these sites follows Tesla's decision to slow down its Supercharger expansion and disband its Supercharging team. Revel operates over 50 charging stalls in Brooklyn and Queens, primarily using Tesla Model 3 and Model Y, and has started adding Kia Niro to its fleet.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 10:40 am

FRPT

Freshpet projects its FY24 net sales to be $950 million, slightly below the estimated $954.98 million.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:34 am

CLDT

Chatham Lodging (NYSE:CLDT) reported Q1 2024 AFFO of $0.16 per share, surpassing the $0.13 estimate, and sales of $68.443M, exceeding the $68.110M estimate. This represents a year-over-year sales increase of 1.23%.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:32 am

FRPT

Freshpet (NASDAQ:FRPT) reported Q1 earnings of $0.37 per share, surpassing the $(0.22) estimate, marking a 268.18% beat and a 171.15% increase from last year's losses. Sales reached $223.85M, exceeding the $215.97M estimate by 3.65% and showing a 33.62% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:31 am

LKNCY

SBUX

VTI

XLY

Former Starbucks CEO Howard Schultz has called for a major overhaul of the company amid a sales slump, citing a need to revamp operations and improve the customer experience. Starbucks faces challenges from inflation, competition in China from Luckin Coffee, and a significant drop in sales due to various factors. The company's second-quarter results fell short of expectations, with a 4% decline in global comparable store sales and earnings missing analyst estimates. Despite these challenges, Schultz remains optimistic about Starbucks' recovery, especially in China. Starbucks stock has declined over 31% in the last 12 months, but shares are trading higher in premarket.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:31 am

VSCO

Morgan Stanley analyst Alexandra Steiger downgraded Victoria's Secret (VSCO) from Equal-Weight to Underweight and reduced the price target from $19 to $15.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:24 am

ESI

Element Solutions (NYSE:ESI) reported Q1 earnings on April 29, 2024, beating EPS estimates by 6.0% with an EPS of $0.34 versus the expected $0.32. Revenue increased by $600 thousand from the previous year. Despite the positive earnings, the stock price dropped by 1.28% the next day. Competitors Arcadium Lithium, H.B. Fuller, and Quaker Houghton also exceeded EPS expectations in their recent earnings, with Quaker Houghton's stock price increasing by 0.95% following their announcement.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 10:15 am