Streetbeat News

Earnings

CME

CME Group, a leading derivatives marketplace, reported record participation in its global Aluminum futures contract for the sixth consecutive quarter and the month of September. The Average Daily Volume (ADV) in Q3 was 4,656 contracts, up 98% YoY, and in September it was 6,118 contracts, up 132% YoY. The Average Daily Open Interest in Q3 also grew by 267% YoY.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 7:13 am

FFIE

KARS

LCID

RIVN

TSLA

The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 07, 2023 | 2:56 pm

APLD

Applied Digital (NASDAQ:APLD) is set to release its quarterly earnings report on October 9, 2023. Analysts estimate an EPS of $-0.02. The company's past performance shows a trend of beating EPS estimates and subsequent increases in share price. The stock is currently trading at $5.2 and has seen a 223.12% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 9:00 pm

NIU

Niu Technologies (NASDAQ:NIU) reported Q3 2023 sales volume of 265,923 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. This is a decrease compared to the previous year due to a slowdown in consumer activity in China. However, new products contributed to approximately 80% of total sales in Q3. The company also reported consistent quarter-on-quarter growth in the overseas micro-mobility market, particularly in Europe and the United States.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:07 pm

DELL

Morgan Stanley analyst Erik Woodring maintained an Overweight rating on Dell Technologies Inc (NYSE:DELL) and raised the price target from $87 to $89. Woodring believes Dell's stabilizing core business, AI infrastructure opportunity, and accelerating capital return story can drive a compelling multi-year total return. Raymond James analyst Simon Leopold had an Outperform rating on Dell with a price target of $68. Citi analyst Asiya Merchant reiterated a Buy rating on Dell. Dell's shares traded higher by 0.20% at $66.32 on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

October 06, 2023 | 7:54 pm

CAG

Stifel analyst Matthew E. Smith reiterated a Hold rating on ConAgra Brands, Inc. (NYSE:CAG), lowering the price target to $29 from $36. ConAgra reported 1Q earnings with strong profit but weaker-than-expected sales growth. The company's Q1 FY24 sales were $2.90 billion, missing the consensus of $2.95 billion. Smith remains cautious due to the consumer environment and industry-wide volume trends. The analyst lowered organic sales estimate to +0.5% from the previously estimated +1%, with volume down 2%.

Portfolio Pulse from Nabaparna Bhattacharya

October 06, 2023 | 7:54 pm

CNK

Benchmark analyst Mike Hickey reiterated a Buy rating on Cinemark Holdings Inc (CNK) and raised the price target from $21 to $22. The Q3 sales estimate has been revised upwards to $833 million due to better than expected box office results. The analyst expects a strong Q4 2023 due to Taylor Swift's concert film and Beyoncé's documentary, which are expected to bring in significant revenue. The analyst is confident in CNK's recovery from the pandemic and anticipates sustained growth.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 7:52 pm

PERI

Oppenheimer analyst Jason Helfstein has maintained a Buy rating on Perion Network Ltd (NASDAQ:PERI) and set a price target of $45. Despite a 28% drop in shares over the past six months, PERI is Helfstein's favorite small-cap digital advertising stock due to its strong financial performance. The company's revenue growth, EBITDA growth, and net cash position have all outperformed peers. However, the stock has underperformed due to lack of benefits from the Bing/ChatGPT partnership.

Portfolio Pulse from Anusuya Lahiri

October 06, 2023 | 7:25 pm

APLD

Applied Digital Corporation (NASDAQ:APLD) is expected to report a narrower Q1 loss of 2 cents per share, compared to a year-ago loss of 5 cents per share. The company's revenue is projected to be $35.16 million, a significant increase from $6.64 million in the year-ago period. Several analysts have maintained a 'Buy' rating on the company, with price targets ranging from $12 to $17.5.

Portfolio Pulse from Lisa Levin

October 06, 2023 | 6:32 pm

AUVI

CAMP

OMQS

PIXY

PRZO

VCNX

U.S. stocks traded higher with the Dow Jones index gaining more than 300 points. Information technology shares rose by 1.8%. U.S. nonfarm payrolls rose by 336,000 in September, above market estimates. ParaZero Technologies, Vaccinex, and Applied UV saw significant stock increases. CalAmp Corp., OMNIQ Corp., and ShiftPixy saw significant stock decreases. Gold and oil prices increased.

Portfolio Pulse from Lisa Levin

October 06, 2023 | 6:31 pm