Streetbeat News

Earnings

ARM

NFLX

ORCL

QCOM

STLA

TSLA

The US annual inflation rate increased to 3.7% in August, driven by a 6% rise in gasoline prices. Core inflation, however, decreased slightly. Tesla and Qualcomm saw stock increases, while Oracle and Netflix experienced decreases. ARM Holdings had a successful IPO, and the United Auto Workers launched a strike against Ford, Stellantis, and General Motors. The upcoming FOMC meeting and corporate earnings reports from AutoZone, General Mills, Darden Restaurants, and FactSet Research Systems are in focus for the coming week.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 8:21 pm

STLA

S&P has warned that if the UAW strike continues for more than a week or expands, it will result in significant reductions in earnings and liquidity in the U.S. auto sector relative to the 2023 base case.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 7:43 pm

CBOE

UVXY

VIXM

VIXY

The CBOE Volatility Index (VIX) surged 9% on Friday, marking the most significant single-day increase since mid-August. This spike followed weeks of relative calm, with the VIX hitting its lowest level since January 2020. Factors contributing to the spike include a resurgence in inflation, surge in oil prices, and the occurrence of a triple witching day. CBOE Global Markets reported significant growth in VIX options in its Q2 financial results. ETFs such as ProShares Trust VIX Short-Term Futures ETF (VIXY), ProShares Trust VIX Mid-Term Futures ETF (VIXM), and ProShares Trust Ultra VIX Short-Term Futures ETF (UVXY) may provide a good correlation to participate in the VIX’s movements.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 7:20 pm

LEN

RDFN

Shares of homebuilders and housing-related stocks are trading lower due to a decline in Lennar's average sales price per home and a Redfin report showing nearly 60,000 home-purchase agreements were canceled in August.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 5:01 pm

BLUE

An option alert has been issued for bluebird bio, with October 20 $4 calls seeing a sweep near the ask price. A total of 1271 contracts were traded at $0.25, compared to an open interest of 258. The company is expected to release its earnings on November 6 before the market opens. The reference price is $3.36.

Portfolio Pulse from Charles Gross

September 15, 2023 | 4:58 pm

LEN

Lennar Corporation's Q3 results led to a decline in its shares. Despite beating revenue and EPS estimates, the company reported a year-over-year decrease in the average sales price per home.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:51 pm

QSG

QuantaSing reported its Q4 financial results, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:37 pm

MITK

Mitek Systems reported its Q2 financial results, which led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:32 pm

IOVA

LIFW

NVX

PTCT

RFIL

VLCN

US stocks traded lower with the Nasdaq Composite falling more than 1%. Industrial production in the U.S. rose 0.4% from a month ago in August, above market estimates of a 0.1% growth. Novonix Limited (NVX), Iovance Biotherapeutics, Inc. (IOVA), and MSP Recovery, Inc. (LIFW) saw their shares rise, while RF Industries, Ltd. (RFIL), Volcon, Inc. (VLCN), and PTC Therapeutics, Inc. (PTCT) experienced a drop in their shares.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 4:31 pm

NUE

STLD

ZEUS

Shares of steel stocks are trading lower in sympathy with Nucor, which issued weak Q3 guidance. Steel Dynamics (STLD) and Olympic Steel (ZEUS) may also be affected.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:27 pm