Streetbeat News

Earnings

PLUG

Plug Power, Inc. (NASDAQ:PLUG) stock is trading higher, recovering from a recent drop after a disappointing Q3 financial report and a 'going concern' warning. Analysts from Wells Fargo and Morgan Stanley have updated their coverage, both maintaining an Equal-Weight rating but lowering their price targets to $4 and $3.5, respectively. The stock is experiencing heavy trading volume, with over 39 million shares traded, exceeding the 100-day average volume.

Portfolio Pulse from Erica Kollmann

November 14, 2023 | 5:40 pm

ASST

CDLX

CHR

CTV

DRCT

IHRT

KORE

LQR

LYT

SLE

SOHU

UCL

Several communication services stocks experienced significant movements in Tuesday's intraday session. Direct Digital Holdings (DRCT) saw a 28% increase, Kore Group Holdings (KORE) rose by 27.72%, Sohu.com (SOHU) went up by 22.08%, and Cardlytics (CDLX) increased by 16.53%, all following their Q3 earnings reports. Ucloudlink Group (UCL) and Super League Enterprise (SLE) also saw gains. Conversely, LQR House (LQR), Innovid (CTV), Lytus Technologies Hldgs (LYT), Cheer Holding (CHR), iHeartMedia (IHRT), and Asset Entities (ASST) experienced declines, with some also reacting to their Q3 earnings.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:31 pm

ACRS

ALEC

INVO

LIFW

MYNZ

TCBP

TCON

TENX

TIVC

TNON

VERV

ZVSA

During Tuesday's intraday session, several healthcare stocks experienced significant movements. Tenax Therapeutics (TENX) saw a massive increase of 319.0% to $0.65 with an exceptionally high trading volume. Tivic Health Systems (TIVC) rose by 68.89% following their Q3 earnings release. ZyVersa Therapeutics (ZVSA), INVO Bioscience (INVO), MSP Recovery (LIFW), and Tenon Medical (TNON) also saw gains ranging from 18.27% to 32.88%. On the downside, TC BioPharm (TCBP) plummeted by 90.0%, Aclaris Therapeutics (ACRS) dropped by 86.77%, and other stocks like Mainz Biomed (MYNZ), Verve Therapeutics (VERV), TRACON Pharma (TCON), and Alector (ALEC) experienced declines between 16.58% and 45.54%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:31 pm

AIRTP

AREB

BWEN

CTRM

FREY

IPDN

KRT

NCNC

SHPW

SPPL

VINO

XOS

In Tuesday's intraday session, several industrial stocks experienced significant movements. Xos, FREYR Battery, Shapeways Holdings, Simpple, Professional Diversity, and Karat Packaging saw their shares rise following their Q3 earnings reports. Conversely, noco-noco, American Rebel Holdings, Broadwind, Gaucho Group Holdings, Castor Maritime, and Air T saw their stock prices fall. The movements were accompanied by notable changes in trading volumes compared to their average full-day volumes over the last 100 days.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:31 pm

AIRG

APLD

ATGL

CCSI

CYN

INTZ

NABL

PRSO

RTC

TIO

VUZI

WETG

In Tuesday's intraday session, several IT stocks experienced significant movements. Airgain, Cyngn, Alpha Technology Group, Peraso, Consensus Cloud Solutions, and Tingo Group saw their shares rise, with recent Q3 earnings reports influencing some of these gains. Conversely, Vuzix, Applied Digital, WeTrade Group, Intrusion, N-able, and Baijiayun Group faced declines, with some also recently reporting Q3 earnings. Market caps and trading volumes varied, with some stocks experiencing substantial increases in trading activity.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:31 pm

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a decline in Q3 FY23 revenue by 4.5% year-on-year to $1.85 billion, missing consensus estimates of $2.03 billion. The company saw a decrease in project sales and average selling price of modules, though module shipments increased. Gross profit and operating income also fell, with EPS dropping significantly from the previous quarter and year. Despite a decrease in operating cash flow, Canadian Solar has a $2.6 billion e-STORAGE contracted backlog and is making strategic investments in facilities to serve U.S. customers. The Q4 outlook is below consensus estimates, and shares fell 3.53% to $20.23.

Portfolio Pulse from Akanksha Bakshi

November 14, 2023 | 5:27 pm

DIA

GDX

IWM

QQQ

SPY

TAN

TLT

UUP

The October CPI report showed a decrease in the annual inflation rate to 3.2%, below expectations, and a drop in core inflation to 4%, signaling easing inflationary pressures. Financial analysts believe this could lead to a pause in the Fed's rate hikes, potentially avoiding further rate increases in December. Markets reacted positively, with a rally in stocks and a drop in the U.S. dollar and Treasury yields. The Invesco DB USD Index Bullish Fund ETF (UUP) saw a 1.1% decline, while the iShares 20+ Year Treasury Bond ETF (TLT) surged by 2.3%. Stock ETFs like SPDR S&P 500 ETF Trust (SPY), Dow Jones Industrial Average ETF (DIA), Invesco QQQ Trust (QQQ), and iShares Russell 2000 ETF (IWM) experienced significant gains. The VanEck Gold Miners ETF (GDX) and Invesco Solar ETF (TAN) were among the best-performing industries.

Portfolio Pulse from Piero Cingari

November 14, 2023 | 5:27 pm

DIS

Walt Disney Co (NYSE:DIS) stock is trading higher by 1.8% to $91.06, driven by overall market strength after softer-than-expected October CPI figures and the company's announcement of stronger-than-anticipated Q4 adjusted EPS. Disney's Q4 revenue was $21.24 billion, up 5% YoY, with EPS at 82 cents, surpassing the expected 70 cents. Growth was noted in Entertainment and Experiences, while Sports remained unchanged. CEO Bob Iger highlighted the progress made over the past year.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 5:27 pm

LICY

Li-Cycle Holdings' stock price is trading lower following the release of their Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:15 pm

HUYA

HUYA Inc (NYSE:HUYA) exceeded Q3 2023 revenue and EPS expectations with $225.8 million and $0.06 respectively, against a consensus of $210.33 million and a loss of $(0.03). Despite a year-over-year decline in live streaming revenues and advertising, the company maintained a stable average mobile MAUs at 86 million. Paying users decreased from 5.5 million to 4.2 million. The company reported a slight decrease in gross margin and holds $1.5 billion in cash and equivalents. Shares rose by 0.73% to $3.45.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 5:07 pm