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GOOGL

META

MSFT

QQQ

SPY

Mixed earnings have led to a dampened risk appetite in the market, with Microsoft's positive report contrasting Alphabet's underwhelming cloud revenue growth. The focus now shifts to Meta Platforms, which is due to report after the close. Analysts stress the importance of robust corporate profit growth to sustain valuations, especially with rising bond yields. The S&P 500 Index broke a five-session losing streak, while the Nasdaq Composite recorded gains for the second consecutive session. In premarket trading, the SPDR S&P 500 ETF Trust slipped 0.34% and the Invesco QQQ ETF fell 0.55%.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 11:07 am

CASS

HHH

TCBI

TFC

Insider trading has been observed in four US-listed companies: Howard Hughes Holdings Inc. (HHH), Texas Capital Bancshares, Inc. (TCBI), Truist Financial Corporation (TFC), and Cass Information Systems, Inc. (CASS). The insiders' purchases indicate their confidence in the companies' prospects. Howard Hughes plans to spinoff a new division, Seaport Entertainment, by 2024. Texas Capital Bancshares and Cass Information Systems posted better-than-expected quarterly results. Truist Financial's Q3 revenues fell 2.7% YoY but beat consensus.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 11:00 am

PGR

BMO Capital analyst Michael Zaremski has upgraded Progressive (NYSE:PGR) from Market Perform to Outperform and raised the price target from $155 to $180.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 10:26 am

GPS

Wells Fargo analyst Ike Boruchow has upgraded Gap (NYSE:GPS) from Equal-Weight to Overweight and raised the price target from $11 to $16.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 10:24 am

OTIS

Otis Worldwide has revised its FY2023 guidance, raising its adjusted EPS from $3.45-3.50 to $3.52, and its sales guidance from $14.00B-14.30B to $14.1B. The company expects adjusted net sales of $14.1 billion, up 4%, and an adjusted operating profit of $2.265 billion. It also plans to repurchase $800 million of its shares.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 10:10 am

LHX

LMT

NOC

RTX

CNBC host Jim Cramer suggests investing in defense stocks as the U.S. plans to rebuild its arsenal capacity. He believes that defense companies like Lockheed Martin, Raytheon, Boeing, Northrop Grumman, General Dynamics, and L3Harris Technologies present worthy investment opportunities. Cramer also highlighted L3Harris Technologies as potentially the best investment due to its acquisition of Aerojet Rocketdyne.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 9:48 am

UMC

United Microelectronics Corp (UMC) anticipates a 5% quarter-on-quarter decline in Q4 wafer shipments. The company also expects flat average selling price (ASP), gross margin in the low 30% range, and capacity utilization in the low 60% range. UMC has planned a capital expenditure of $3B for 2023.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:08 am

QUAL

SPY

Chamath Palihapitiya, a prominent fund manager, has stated that U.S. companies are relatively attractive compared to the rest of the world. He noted that the share of U.S. companies in the MSCI World Index has been increasing since 2010, now accounting for over 60% of the total. Palihapitiya also mentioned that non-U.S. companies trade at a discount to their U.S. peers. He suggested that the U.S. could achieve an 'economic miracle' by keeping its deficits down and avoiding participation in foreign wars. The iShares MSCI USA Quality Factor ETF (QUAL) and the SPDR S&P 500 ETF Trust (SPY) both saw increases.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 7:33 am

ATEC

ATEC has priced an underwritten public offering of 14.3 million common shares at $10.50 per share.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:21 am

BTCUSD

Galaxy Digital predicts a 74% increase in Bitcoin's value in the first year following the launch of spot Bitcoin ETFs in the U.S., estimating the total addressable market size for Bitcoin ETFs to reach $14.4 trillion. The firm's research associate, Charles Yu, also projected that the market size would reach $26.5 trillion in the second year and $39.6 trillion in the third year post-launch. However, these predictions could be affected by a delay or denial of spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 7:17 am