Streetbeat News

Equity Actions

GPC

Genuine Parts Company (GPC) has updated its FY23 adjusted EPS guidance to $9.20-$9.30, compared to its previous guidance of $9.15-$9.30 and consensus of $9.23. The company has also reaffirmed its sales growth outlook at 4%-6%.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 11:00 am

SPY

USO

On October 18, U.S. stock markets ended lower due to rising Treasury yields and investor assessments of recent corporate earnings and forecasts. The Dow Jones Industrial Average declined by 0.98%, the S&P 500 dipped 1.34%, and the Nasdaq Composite fell by 1.62%. Asian and European markets also experienced declines, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and the European STOXX 600 index all closing lower. Crude Oil WTI was trading lower by 1.65% at $85.83/bbl, and Brent was down 1.81% at $89.84/bbl.

Portfolio Pulse from Akanksha Bakshi

October 19, 2023 | 10:39 am

XYL

Oppenheimer analyst Bryan Blair has upgraded Xylem (NYSE:XYL) from Perform to Outperform and set a new price target of $118.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:28 am

AMZN

Amazon Inc. plans to extend its drone delivery service to Britain and Italy by late next year and to a third U.S. state. The company has also introduced a new robotics system “Sequoia” in a Texas logistics center, which can store stock in warehouses up to 75 percent faster, potentially decreasing order processing time by 25 percent. Despite the rise in e-commerce, traditional brick-and-mortar stores still hold 80 percent of retail business. However, analysts predict a shift towards online retail as delivery speed improves.

Portfolio Pulse from Benzinga Neuro

October 19, 2023 | 8:28 am

HNHPF

NVDA

RIDEQ

TSLA

Nvidia Corp. (NVDA) has partnered with Foxconn, the assembler of Apple's iPhone, to accelerate the 'AI industrial revolution'. Foxconn will incorporate Nvidia technology into developing cutting-edge data centers. These data centers will power various applications, including AI-driven electric vehicle and robotics platforms. Foxconn has significant electric vehicle ambitions, recently acquiring Lordstown Motor's Ohio factory. The emergence of AI factories represents a potential challenge to the Gigafactories operated by companies like Tesla Inc (TSLA).

Portfolio Pulse from Shanthi Rexaline

October 19, 2023 | 7:19 am

NCL

Northann has priced its initial public offering (IPO) of 1.2 million common shares at $5 per share, raising $6 million in total.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 6:26 am

RARE

Ultragenyx Pharmaceutical has priced its $300M underwritten public offering of 8,333,334 common shares at $30/share. The company is also offering pre-funded warrants to purchase 1,666,722 shares of its common stock at a purchase price of $29.999 per pre-funded warrant.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 6:07 am

MKTW

MarketWise has appointed its founder, F. Porter Stansberry, as Chairman and CEO, effective immediately. Amber Lee Mason has resigned as CEO and from the Board of Directors. Mark Gerhard and Riaan Hodgson, both members of the Board of Directors, have also resigned their positions.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 6:03 am

WBUY

Webuy Global has priced its initial public offering (IPO) of 3.8 million ordinary shares at $4 per share, raising $15.2 million.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:59 am

NTLA

ROKU

SHOP

TSLA

TXG

Ark Invest, led by Cathie Wood, sold nearly $6.3 million worth of Tesla Inc shares following the company's Q3 earnings disappointment. The sale was made through Ark’s flagship ARK Innovation ETF. Ark Invest also purchased shares of ROKU Inc, 10X Genomics Inc, and Intellia Therapeutics Inc, while selling shares of Shopify Inc.

Portfolio Pulse from Benzinga Neuro

October 19, 2023 | 1:58 am