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STT

State Street Corporation (NYSE:STT) reported Q3 revenues of $2.69 billion, down 9% Y/Y, missing the consensus estimate of $2.92 billion. The revenues were impacted by a $294 million loss on sale related to a previously disclosed investment portfolio repositioning. However, EPS of $1.93 beat the consensus estimate of $1.81. The company also registered new servicing wins of $91 million in Q3 and bought back $1 billion of common shares.

Portfolio Pulse from Lekha Gupta

October 18, 2023 | 1:47 pm

EH

EHang Holdings Limited (NASDAQ:EH) has entered into a strategic cooperation agreement with the Hefei Municipal Government for the joint development of a low-altitude economy ecosystem in Hefei City, Anhui Province. The Hefei Municipal Government intends to provide EHang support in the form of coordinating or facilitating purchase orders, for no less than 100 units of the EH216 series UAVs, and financing support, amounting to a total of US$100 million. EHang intends to set up its regional headquarters for Eastern China in Hefei to promote UAV production, sales, and operations and accelerate UAM adoption in the area.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:30 pm

GLD

NFLX

TSLA

The ongoing Israel-Hamas conflict has led to a surge in commodity prices, with gold, oil, and natural gas all seeing increases. The SPDR Gold Trust ETF (GLD) rose 1.4% to $1,950/oz, while oil surged 0.6% to $86.8 a barrel due to the risk of Iran's oil embargo on Israel. Natural gas prices also rose nearly 5% in Europe. Meanwhile, futures on the S&P 500 index were 0.4% lower. Traders are awaiting key earnings reports from Netflix Inc. (NFLX) and Tesla Inc. (TSLA).

Portfolio Pulse from Piero Cingari

October 18, 2023 | 1:20 pm

CELC

Celcuity Inc. (NASDAQ:CELC), a clinical-stage biotechnology company, has announced a private placement expected to generate around $50 million in gross proceeds. An institutional investor will purchase pre-funded warrants to buy shares of Celcuity's common stock at $8.699 per warrant. The proceeds will be used to advance clinical development of gedatolisib and for general corporate purposes. The closing of the private placement is expected to occur on October 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:16 pm

MSFT

SPY

TSLA

The article covers a range of topics including US stocks, cryptocurrencies, US and world politics, US and world economy, Israel-Hamas conflict, technology, electric vehicles, consumer, communication, and industrial news. Key highlights include BMW's decision to adopt Tesla's EV charging standard, a 20% increase in a Bitcoin offshoot, and skepticism about S&P 500 recovery. Other notable mentions include Mastercard and Visa facing challenges due to potential debit card fee reductions by the Fed, and Amazon's $1B commitment to Microsoft 365 cloud tools.

Portfolio Pulse from Akanksha Bakshi

October 18, 2023 | 1:08 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) has announced the pricing of an underwritten public offering expected to generate approximately $1,000,000 in gross proceeds. The offering consists of 7,142,857 shares of common stock at a price of $0.14 per share. The company plans to use the proceeds for working capital and other general corporate purposes. The offering is expected to close on October 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:08 pm

SUNW

Sunworks has elected Mark Trout as its new President, CEO, and Director, effective immediately. He succeeds Gaylon Morris in these roles.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:07 pm

TRV

Travelers Companies Inc (NYSE:TRV) reported Q3 2023 revenues of $10.64 billion, up 14% Y/Y, beating the consensus of $10.33 billion. However, core income declined 14% Y/Y to $454 million due to higher catastrophe losses. Core EPS of $1.95, down 11% Y/Y, missed the consensus of $2.99. The company repurchased 0.6 million shares for $101 million and declared a dividend of $1.00 per share.

Portfolio Pulse from Lekha Gupta

October 18, 2023 | 1:04 pm

CIR

KKR

CIRCOR International has completed its acquisition by KKR for $56.00 per share. As a result, CIRCOR's common stock has ceased trading and will no longer be listed on the NYSE. Dan Daniel, a KKR Executive Advisor, will assume the role of Chair of CIRCOR. KKR will also support CIRCOR in implementing an employee ownership program.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:59 pm

F

GM

HMC

STLA

TM

TSLA

Tesla has urged the National Highway Traffic Safety Administration to focus on energy conservation and environmental impacts of fossil fuel use. The company wants to eliminate off-cycle credits from 2027 and suggests a stringent Corporate Average Fuel Economy proposal requiring carmakers to achieve an average of nearly 75 miles per gallon by 2032. The Alliance for Automotive Innovation, representing automakers including Ford, General Motors, Stellantis, Honda, and Toyota, has said that the NHTSA's proposal would result in manufacturers facing fines amounting to $14 billion.

Portfolio Pulse from Nabaparna Bhattacharya

October 18, 2023 | 12:52 pm