Streetbeat News

Equity Actions

FBYD

HUBC

LQR

PEV

PRZO

SFT

US stocks traded lower with the Nasdaq Composite falling more than 100 points due to the Israel-Hamas conflict. Energy shares rose by 2.9% while consumer discretionary shares fell by around 1.7%. ParaZero Technologies Ltd. (NASDAQ:PRZO), Phoenix Motor Inc. (NASDAQ:PEV), and HUB Cyber Security Ltd. (NASDAQ:HUBC) saw significant increases in their shares. Shift Technologies, Inc. (NASDAQ:SFT), LQR House Inc. (NASDAQ:LQR), and Falcon's Beyond Global, Inc. (NASDAQ:FBYD) saw their shares drop.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 1:45 pm

Kroger Inc. (NYSE:KR) is currently trading at $43.42, after a 0.07% drop. Over the past month, the stock fell by 4.95%, and in the past year, by 4.95%. The company's P/E ratio is lower than the aggregate P/E of 25.09 of the Food & Staples Retailing industry, which could indicate that the stock is undervalued. However, a low P/E ratio can also suggest weak growth prospects or financial instability.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 1:15 pm

IMPP

Imperial Petroleum Inc. (NASDAQ:IMPP) has announced the repurchase of 2.58 million Class C and Class D warrants from institutional investors for an aggregate purchase price of approximately $0.62 million.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:12 pm

APLD

BHAT

CNFR

NIU

SAR

Applied Digital Corporation (APLD) reported better-than-expected Q3 results, leading to a premarket stock rise. Conifer Holdings (CNFR) announced that James Petcoff will step down as Chairman and Co-CEO, with Nick Petcoff becoming sole CEO from Dec. 31, 2023. Saratoga Investment Corp. (SAR) is expected to report earnings of $1.08 per share on revenue of $35.36 million for the latest quarter. Niu Technologies (NIU) reported Q3 sales volume of 265,923 units. Fujian Blue Hat Interactive Entertainment Technology (BHAT) filed for a mixed shelf of up to $150 million.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 1:05 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) has appointed Marianne McInerney as Chief Strategy Officer. McInerney, who has nearly two decades of experience in the automotive and transportation industry, will focus on growth opportunities and strategic initiatives for Mullen's commercial, consumer vehicles, and governmental affairs. She will also oversee all state and federal governmental affairs for the company. Mullen recently announced several key milestones, including the delivery of its first Class 3 EV Cab Chassis Trucks and EPA certification for these trucks.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:04 pm

BTCUSD

DIS

ETHUSD

HHC

MRTX

SPY

TSLA

The article covers a range of topics including the impact of the Israel-Hamas conflict on airlines and the stock market, insider trading in Howard Hughes, Tesla and Mirati Therapeutics stocks moving lower, and the potential of Bitcoin as an inflation hedge. It also mentions a strike by 4,000 UAW members at Volvo's Mack Trucks, and Disney's stock resilience amid a broader sell-off.

Portfolio Pulse from Akanksha Bakshi

October 09, 2023 | 1:03 pm

ISRA

IZRL

KSA

USO

The escalating conflict between Israel and Hamas is causing a surge in crude oil prices, with WTI crude oil trading near $85 per barrel. Goldman Sachs predicts that the conflict could disrupt factors that might have eased the tight supply condition in the oil market. The firm anticipates that Saudi Arabia will gradually scale back the extra 1mb/d production cut by the first quarter of 2025, which could further boost crude oil prices. The conflict is also expected to impact projections for Iranian oil production. ETFs that could be affected by the conflict include United States Oil Fund (USO), iShares MSCI Saudi Arabia ETF (KSA), VanEck Israel ETF (ISRA), and ARK Israel Innovative Technology ETF (IZRL).

Portfolio Pulse from Piero Cingari

October 09, 2023 | 12:56 pm

AER

AerCap Holdings NV (AER) reported Q3 FY23 transactions and financial developments. The company signed 134 lease agreements, purchased 33 airlines, and completed 52 sale deals. It also repurchased about 20 million shares worth $1.2 billion and carried out financing transactions worth $3.9 billion. In Q2 FY23, the company reported a 10% YoY total lease revenue growth to $1.72 billion, missing the analyst consensus of $1.82 billion. Adjusted EPS of $2.56 beat the analyst consensus of $2.06.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 12:55 pm

ARM

CART

The IPO market has been struggling due to rising interest rates and recessionary headwinds. High-profile IPOs like Arm Holdings (NASDAQ:ARM) and Instacart (NYSE:CART) have seen their stocks wobble soon after listing, with Arm's stock falling nearly 15% and Instacart's plunging over 24%. The Federal Reserve's plan to continue raising interest rates has deterred companies from going public due to concerns about rising borrowing costs. The current hawkish backdrop is unfavorable for IPOs as growth expectations and funding availability remain low.

Portfolio Pulse from Aditi Ganguly

October 09, 2023 | 12:52 pm

FTXG

PEP

XLB

XLP

PepsiCo shares fell around 5% due to Walmart indicating a decrease in shopping demand due to the use of appetite-suppressing medications. The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week, marking its third consecutive week of losses. The Materials Select Sector SPDR Fund (XLB) gained 0.9%, while the Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.

Portfolio Pulse from Priya Nigam

October 09, 2023 | 12:48 pm