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RIVN

Rivian shares are trading higher following the appointment of Javier Varela as Chief Operations Officer.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:13 pm

AXL

American Axle & Manufacturing Holdings Inc (AXL) reported a Q1 FY24 earnings beat with sales growth of 7.7% Y/Y to $1.61 billion, surpassing the consensus estimate of $1.525 billion. Adjusted EPS was $0.18, beating the consensus of $0.02. Gross profit increased by 23.6% Y/Y, and operating income rose by 113.3%. The company reaffirmed its FY24 sales outlook of $6.05 billion to $6.35 billion and expects adjusted EBITDA of $685 million to $750 million. AXL shares rose by 4.51% to $7.65.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 1:11 pm

TNC

Tennant Company has reaffirmed its fiscal year 2024 guidance, projecting net sales to be between $1.27 billion and $1.295 billion, closely aligning with analyst estimates of $1.288 billion. The company also expects its adjusted earnings per share (EPS) to range from $6.05 to $6.65, which is in line with the estimated $6.46.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:07 pm

RIVN

Rivian has announced the hiring of Javier Varela as its new Chief Operating Officer (COO). This strategic move aims to strengthen the company's operational capabilities as it scales up production and expands its market presence.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:05 pm

CSSE

Chicken Soup For The Soul Entertainment (CSSE) has indicated in an SEC filing that it may be forced to seek bankruptcy protection under U.S. law due to its financial difficulties.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:05 pm

CNMD

ENPH

SWKS

Insiders at CONMED, Skyworks Solutions, and Enphase Energy have made significant stock purchases, signaling confidence in their companies. CONMED's COO bought shares after reporting strong Q1 results. Skyworks Solutions' CEO made a $1M purchase following earnings that beat estimates. Enphase Energy's CFO invested after a disappointing Q1 report but remains optimistic.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:02 pm

APA

RES

SLB

The article highlights the top 3 oversold energy stocks, which are RPC, Inc. (RES), APA Corporation (APA), and Schlumberger Limited (SLB), based on their RSI values indicating potential undervaluation. RES reported disappointing Q1 results, APA's Q1 earnings missed expectations, and SLB had strong sales but expects softness in North America. Their recent price actions and RSI values suggest they may be poised for short-term performance changes.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:02 pm

AAPL

Apple, Inc. (AAPL) reported Q2 earnings that exceeded expectations, with strong guidance for low single-digit growth, a significant $110 billion buyback, and an upcoming AI strategy announcement. Wedbush analyst Daniel Ives highlighted the better-than-expected performance, particularly in China and the Services segment, and anticipates a growth renaissance driven by an AI-driven super-cycle. Ives maintains an Outperform rating and a $250 price target for AAPL, which saw a 6.51% premarket increase to $184.29.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 1:01 pm

ADTX

Aditxt, Inc. (NASDAQ:ADTX) announced a $4.2M private placement priced at-the-market under Nasdaq rules, involving the sale of Series C-1 and D-1 Preferred Stock, and warrants to purchase common stock. The placement, facilitated by Dawson James Securities, aims to fund obligations under a merger agreement with Evofem Biosciences, Inc. and for general corporate purposes. The offering is expected to close by May 6, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:01 pm

VIAV

Analyst evaluations of Viavi Solutions (NASDAQ:VIAV) over the last three months show diverse outlooks, with a recent shift towards more bullish ratings. The average 12-month price target for VIAV has increased to $13.25 from $12.12, indicating a positive sentiment shift. Despite facing a revenue decline of -10.54% in the last quarter, Viavi Solutions maintains a strong net margin of 4.2% and a healthy debt-to-equity ratio, suggesting effective cost management and financial stability.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 1:01 pm