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MMM

3M Co (NYSE:MMM) announced a $67 million expansion of its Nebraska facility to increase manufacturing capacity for personal safety products, including reusable respirators and PELTOR hearing protection. The expansion, expected to create 40 new jobs, is supported by the ImagiNE Nebraska Program. 3M recently reported a slight decline in net sales but beat consensus estimates with adjusted EPS of $2.39. Bill Brown has become CEO, with Mike Roman as Executive Chairman. MMM shares rose 0.38% to $97.18.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 4:10 pm

CLVR

USPS

Sannabis, Inc. (OTC:USPS), a Colombian cannabis company, has shipped its first batch of Cannabis Essential Oil to Boston, marking a significant milestone following the DEA's reclassification of marijuana. The product, NO LICK! Terpene Spray, will be available in Boston retail stores. This move is part of Sannabis's efforts to penetrate the U.S. market with innovative cannabis products. Additionally, U.S. food and beverage companies have shown interest in the company's essential oil for its aroma, flavoring, and therapeutic benefits. Meanwhile, Clever Leaves Holdings Inc. (CLVR) plans to delist from NASDAQ and deregister its securities as part of a restructuring plan.

Portfolio Pulse from Rolando García

May 03, 2024 | 4:10 pm

QQQ

TLT

The April jobs report showed slower job growth, a slight increase in unemployment, and cooling wage increases, leading to expectations of a Federal Reserve policy easing. The report, indicating a potential economic slowdown, has impacted Treasury yields and stock market ETFs positively, with the iShares 20+ Year Treasury Bond ETF (TLT) and the Invesco QQQ Trust (QQQ) experiencing gains. Analysts offer mixed views, with some seeing a 'Goldilocks' scenario favorable for the markets, while others express concerns about economic health and inflation.

Portfolio Pulse from Piero Cingari

May 03, 2024 | 4:08 pm

IVEG

TRMB

UFO

Trimble Inc (NASDAQ:TRMB) reported a fiscal Q1 2024 revenue growth of 4% to $953.30 million, surpassing consensus estimates. Despite a premarket gain, the stock fell after market opening. The company saw a 23% Y/Y increase in annualized recurring revenue but a 15.5% decline in product revenue. Adjusted EPS of $0.64 beat consensus, and the company reiterated its FY24 outlook, with revenue and EPS forecasts slightly below consensus. Trimble's stock is also accessible through ETFs like UFO and IVEG.

Portfolio Pulse from Anusuya Lahiri

May 03, 2024 | 4:05 pm

CMLS

Cumulus Media's shares surged following the announcement of their Q1 GAAP EPS results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 4:05 pm

FUBO

FuboTV shares are trading lower, reversing after initially gaining on Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 4:05 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares fell after the SEC charged its audit firm, BF Borgers CPA PC, and its owner with 'massive fraud' for failing PCAOB standards in over 1,500 SEC filings from Jan 2021 to Jun 2023. The firm agreed to a $12 million penalty, and its owner to $2 million, with both receiving permanent suspensions. This raises concerns about the accuracy of Trump Media's financial reports. CEO Devin Nunes has accused brokerage firms of stock manipulation, urging House GOP leaders to investigate.

Portfolio Pulse from Nabaparna Bhattacharya

May 03, 2024 | 4:04 pm

BENF

Beneficient (NASDAQ:BENF) shares surged 290% to $7.50 after announcing compliance with Nasdaq listing requirements, ensuring its continued listing. The stock experienced significant volatility and multiple trading halts, suggesting a potential short squeeze as investors cover short positions. This movement is amid a backdrop of a cooling job market and general advice on how to buy BENF stock, including through ETFs in the Financials sector.

Portfolio Pulse from Henry Khederian

May 03, 2024 | 4:03 pm

SGBX

Safe & Green Holdings (NASDAQ:SGBX) shares surged 149% to $7.30 after announcing its SG Echo subsidiary is set to deliver its first sustainable modular unit to a quick-service restaurant in the Pacific Northwest. The unit has passed its final plant inspection and is scheduled for shipment in Q2 2024. The company's strategic location in Durant, OK, is emphasized for its nationwide commercial market service capability.

Portfolio Pulse from Henry Khederian

May 03, 2024 | 4:03 pm

BILL

BILL Holdings shares are trading lower due to the company providing weak earnings per share (EPS) guidance.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 4:01 pm