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SYY

Sysco Corporation's stock is trading higher following the announcement of mixed financial results for the second quarter. Despite the mixed results, the company has reaffirmed its guidance for the future.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:46 pm

Oppenheimer analyst Chris Kotowski has maintained an Outperform rating on Citigroup (NYSE:C) and increased the price target from $93 to $95, indicating a positive outlook on the bank's stock.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:46 pm

AAPL

AMZN

GOOGL

META

MSFT

QQQ

TSLA

Gene Munster of Deepwater Asset Management highlighted the importance of the upcoming earnings reports from five of the 'Magnificent Seven' tech companies: Apple, Microsoft, Alphabet, Meta Platforms, and Amazon. He pointed out specific 'pressure points' for each company, such as product contributions, cloud revenue growth, and AI developments. The performance of these companies is crucial as they are expected to be the top contributors to S&P 500 profit growth. The Invesco QQQ Trust, which tracks the Nasdaq 100, was down slightly ahead of these reports.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 5:43 pm

GLW

Corning Inc (NYSE:GLW) reported a 10% Y/Y decline in Q4 FY23 core sales to $3.27 billion, slightly above consensus. Core EPS was $0.39, matching consensus. Sales varied across segments, with Display Technologies and Environmental Technologies growing Y/Y, while Optical Communications, Specialty Materials, and Life Sciences declined. Core gross margin increased to 37%, and free cash flow improved. CEO Wendell P. Weeks expects $3B revenue growth in the medium term. Q1 outlook is below consensus with expected core sales of $3.10 billion and EPS of $0.32 - $0.38. GLW shares rose 6.50% to $33.18.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 5:43 pm

SLAB

Silicon Labs (SLAB) has postponed its Q4 2023 conference call to review the documentation of controls related to inventory, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:42 pm

CISS

C3is Inc. (NASDAQ:CISS) experienced volatility after S.H.N. Financial reported a 9.1% stake in the company. The stock has had a volatile history, recently dropping over 13% last Friday after a 20% gain the previous Thursday. Trading volume spiked to over 68.3 million shares, far exceeding the 100-day average of 4.486 million. The high short interest of 11.81% may also be influencing the stock's movement. C3is provides international seaborne transportation services and operates two dry bulk carriers. The 200-day moving average is $0.76, while the current price is $0.15. The stock is up 11.6% at 15 cents.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 5:40 pm

ABL

AIG

BNRE

BRO

BRP

CIA

GOCO

HUIZ

KINS

LMND

TIRX

UNM

In Tuesday's intraday session, insurance stocks saw various movements. Tian Ruixiang Holdings (TIRX), Abacus Life (ABL), Kingstone Companies (KINS), Brown & Brown (BRO), Unum Group (UNM), and American Intl Group (AIG) experienced gains, while Lemonade (LMND), Huize Holding (HUIZ), GoHealth (GOCO), BRP Group (BRP), Citizens (CIA), and Brookfield Reinsurance (BNRE) saw declines. Notably, Unum Group's rise coincided with their Q4 earnings report release.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 5:40 pm

PNR

Pentair PLC (NYSE:PNR) reported a slight decline in Q4 fiscal 2023 net sales but showed improved profitability with a higher gross margin and operating income. Adjusted EPS exceeded consensus, and the company announced a dividend increase. Pentair provided a mixed outlook for Q1 and FY 2024, with expected sales decline in Q1 but overall growth in FY 2024. Shares traded slightly higher.

Portfolio Pulse from Akanksha Bakshi

January 30, 2024 | 5:38 pm

PLOW

Douglas Dynamics announced preliminary Q4 and full year 2023 results, which has led to its shares trading lower. Additionally, the company is implementing a 2024 Cost Savings Program.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:36 pm

BSVN

Stephens & Co. analyst Matt Olney has reiterated an Equal-Weight rating on Bank7 (NASDAQ:BSVN) and maintained a price target of $31.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:35 pm