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SANM

Sanmina Corp (NASDAQ:SANM) stock is trading higher in premarket after reporting Q1 FY24 earnings that exceeded consensus estimates. The company posted revenue of $1.875 billion and adjusted EPS of $1.30, both surpassing expectations. Despite a lower adjusted operating margin compared to the previous year, Sanmina repurchased 2.1 million shares and ended the quarter with $632 million in cash. The Q2 outlook is positive, with expected revenue and EPS above consensus. Shares are up 15.76% premarket.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 10:26 am

AAPL

ZM

Zoom Video Communications Inc. has developed a new app for Apple Vision Pro, set to launch on Feb. 2, coinciding with the release of Apple Inc.'s mixed reality headset. The app aims to improve hybrid collaboration by integrating video conferencing with users' physical environments. Zoom's initiative to expand its platform across the Apple ecosystem began with a new app for Apple TV in December. The Apple Vision Pro has seen strong initial sales and is expected to have applications in various fields, including healthcare.

Portfolio Pulse from Rounak Jain

January 30, 2024 | 10:14 am

BORR

BTSG

CALX

DEO

JL

MNSO

NYXH

PDD

VAL

Calix, Inc. (CALX) issued a Q1 forecast with adjusted EPS and revenue below estimates, causing its shares to fall 25.4% in pre-market trading. Other stocks also experienced pre-market losses, including Nyxoah S.A. (NYXH), Borr Drilling Limited (BORR), PDD Holdings Inc. (PDD), MINISO Group Holding Limited (MNSO), Valaris Limited (VAL), BrightSpring Health Services, Inc. (BTSG), J-Long Group Limited (JL), and Diageo plc (DEO).

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 10:10 am

DEO

Diageo reported a decrease in H1 adjusted EPS to $1.08 from $1.16 YoY and a slight decline in sales to $10.96B from $11.12B YoY, indicating a modest drop in performance.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:09 am

VFC

Telsey Advisory Group analyst Dana Telsey has reiterated an Outperform rating on VF Corporation (NYSE:VFC) and maintained a price target of $22.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:07 am

META

Keybanc analyst Justin Patterson has maintained an Overweight rating on Meta Platforms (NASDAQ:META) and increased the price target from $380 to $465.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:04 am

APPF

Keybanc analyst Jason Celino has maintained an Overweight rating on AppFolio (NASDAQ:APPF) and increased the price target from $240 to $254.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:59 am

BYDDF

BYDDY

Chinese EV maker BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, forecasts a minimum 74.5% increase in net profit for FY23, attributing the rise to higher sales volumes. BYD surpassed Tesla in Q4 as the largest BEV seller, moving 526,000 units compared to Tesla's 485,000. The company's expected net profit is between 29,000 million yuan and 31,000 million yuan, with a basic EPS of 9.98 to 10.67 yuan, up from 5.71 yuan in FY22.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 9:54 am

RNLSY

RNSDF

Renault Group has postponed the IPO of its EV and software arm Ampere due to unfavorable stock market conditions. Initially planned for the first half of 2024, Renault now aims to fund Ampere until it reaches breakeven in 2025. The decision follows Renault's ability to generate sustainable cash flow, as demonstrated by its 2023 results. Ampere will concentrate on reducing EV costs and launching new vehicles.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 9:15 am

CHT

Chunghwa Telecom (NYSE:CHT) reported a significant decrease in Q4 EPS to $0.03, down from $0.35 YoY, despite a slight increase in sales to $1.94B from $1.90B YoY.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 8:57 am