Streetbeat News

Equity Actions

PXMD

PaxMedica has announced a 1-for-17 reverse stock split, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 4:19 pm

META

MSFT

Instagram, owned by Meta Platforms Inc, is set to introduce a Threads API, which will allow developers to create diverse applications and experiences. The API will simplify the process for developers to tailor features specifically for a platform. The absence of APIs on Threads previously forced publishers to upload content manually. Meta revealed that Threads has nearly 100 million monthly active users.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 4:16 pm

HLN

Haleon Inc.'s (NYSE:HLN) share price increased by 2.83% in the current market session to $8.00. However, the stock has decreased by 3.61% over the past month, but increased by 30.29% over the past year. The company's P/E ratio of 24.13 is lower than the Personal Products industry average of 37.27, indicating that the stock might be undervalued or expected to perform worse than its industry peers.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 4:15 pm

ARKK

TARK

TSLA

The AXS 2x Innovation ETF (TARK) and ARK Innovation ETF (ARKK), both led by Cathie Wood, experienced volatility due to Tesla's (TSLA) price action. TARK aims to return 200% of ARKK's daily performance. Despite bullish price action from Coinbase Global, ARKK's second-largest holding, the ETF was affected by Tesla's price drop. A larger bounce may be imminent for ARKK, and when it rebounds, TARK will offer 2X the gains.

Portfolio Pulse from Melanie Schaffer

October 30, 2023 | 4:15 pm

COMM

MIRO

U.S. stocks traded higher with the Nasdaq Composite gaining more than 100 points. ON Semiconductor Corporation reported upbeat Q3 results but issued weak Q4 guidance. Miromatrix Medical shares spiked after United Therapeutics agreed to acquire the company. VYNE Therapeutics and Eargo shares also rose following a private placement announcement and a takeover respectively. CommScope Holding Company, Alzamend Neuro, and LumiraDx Limited shares dropped due to preliminary Q3 results, a reverse stock split, and a Nasdaq delisting determination respectively.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 4:14 pm

SPY

USO

BP is considering forming joint ventures to enhance its U.S. shale operations. The move is aimed at increasing production and reducing costs.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 4:12 pm

AAPL

GOOGL

MSFT

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo discusses trading strategies for SPY, QQQ, AAPL, MSFT, TSLA, and GOOGL. The memo provides price levels for each asset, taking into account price, volume, and options flow. The memo suggests that traders should monitor these stocks closely and be prepared to leverage potential breakouts or reversals.

Portfolio Pulse from RIPS

October 30, 2023 | 4:09 pm

CBIO

GYRE

Catalyst Biosciences has completed its business combination with GNI Group Ltd. and related entities, and will now operate as Gyre Therapeutics, Inc., trading under the symbol 'GYRE'. The company also implemented a 1-for-15 reverse stock split. Beijing Continent Pharmaceuticals became a majority-owned subsidiary of Gyre as a result of the combination. The changes are effective from October 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 4:02 pm

PFE

TRML

Pfizer has reported a 6.29% stake in Tourmaline Bio, according to a Friday filing. This news has led to an increase in Tourmaline Bio's share price.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 3:59 pm

BYDDF

BYDDY

NIO

TSLA

XPEV

Nio Inc (NYSE:NIO) has seen a significant decline in its market capitalization due to increasing competition, price wars, and an overall decline among Chinese stocks. Despite this, Wall Street analysts predict a potential upside of 90% - 160% from the company’s present price. Nio reported a year-on-year increase of 43.8% in EV deliveries in September and a 75.4% improvement year-on-year for the third quarter overall. However, the company's profit margins are uncertain due to the price war between EV makers. Nio raised $1 billion last month, half of which was used to redeem future-dated loan notes and save the company on future interest payment costs.

Portfolio Pulse from Daniel Harrison

October 30, 2023 | 3:57 pm