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COST

PRGS

QQQ

SPY

Despite soaring bond yields, the S&P 500 and Nasdaq are set to rebound. However, analysts warn of volatility persisting through year-end due to factors such as high crude oil prices, potential rate hikes, and economic data. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) both saw gains in premarket trading. Stocks in focus include Costco Wholesale Corp. (NASDAQ:COST), Progress Software Corp. (NASDAQ:PRGS), Meta Platforms, Inc. (NASDAQ:META), Paychex, Inc. (NASDAQ:PAYX), H.B. Fuller Company (NYSE:FUL), Micron Technology, Inc. (NASDAQ:MU), and Worthington Industries, Inc. (NYSE:WOR).

Portfolio Pulse from Shanthi Rexaline

September 27, 2023 | 11:50 am

LI

Li Auto Inc. (NASDAQ:LI) has announced the termination of its US ATM Offering, effective immediately after the close of business on September 27, 2023. The company has sold 13,502,429 ADSs representing 27,004,858 Class A Ordinary Shares under the US ATM Offering, raising gross proceeds of US$536.4 million. The proceeds will be used for R&D of next-gen electric vehicle technologies, development and manufacture of future platforms and car models, and working capital needs and general corporate purposes.

Portfolio Pulse from Charles Gross

September 27, 2023 | 11:46 am

FXI

SPY

VGK

China's President Xi has stated that the country should enhance its attractiveness to foreign investment, upgrade trading of goods, innovate services trade, and develop digital trade, according to Reuters citing state media.

Portfolio Pulse from Charles Gross

September 27, 2023 | 11:23 am

FXI

SPY

VGK

China's President has announced plans to further stimulate potential for imports, liberalize market access, and promote in-depth development of multilateral and bilateral cooperation, according to Reuters citing state media.

Portfolio Pulse from Charles Gross

September 27, 2023 | 11:22 am

ALLT

Allot Communications has appointed David Reis as the new Chairman of the Board, replacing the current Chairman and Founder, Yigal Jacoby, who has decided to step down to focus on other opportunities. Jacoby will remain a director until the end of this year.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 11:08 am

BYDDY

JBL

Jabil Inc has agreed to sell its Mobility business to Chinese EV maker BYD Co., Ltd. for $2.2 billion. The business, which manufactures components for consumer electronics, is mainly located in China. The deal is expected to close within the first two-quarters of Jabil's FY24. The sale will allow Jabil to enhance its shareholder-centric capital framework, including incremental share buybacks, and provide opportunities for further investment in various sectors.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 10:58 am

NEP

NextEra Energy Partners, LP (NEP) has announced a reduction in its limited partner distribution per unit growth rate from 12%-15% to 5%-8% annually through at least 2026. The decision is aimed at increasing flexibility and delivering long-term value for unitholders. The company also plans to repower the majority of its wind portfolio and continue to acquire wind, solar, and storage assets. The company expects run-rate contributions for adjusted EBITDA and CAFD from its forecasted portfolio at Dec. 31, 2023, to be in the ranges of $1,900 million to $2,100 million and $730 million to $820 million, respectively.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 10:38 am

FENG

Phoenix New Media has announced a share repurchase program of up to $2 million. The company's board of directors has approved the repurchase of its outstanding American Depositary Shares (ADS).

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 10:25 am

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) has announced an At-the-Market (ATM) equity offering sales agreement, under which it may offer and sell shares of its Class A common stock up to an aggregate value of $90.0 million.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 10:11 am

GOOG

META

MSFT

TSLA

OpenAI, backed by Microsoft Corp. (NASDAQ:MSFT), is reportedly exploring a share sale that would increase the company's valuation to $90 billion, nearly tripling since April. The share sale would allow employees to sell their stakes without issuing new shares, preventing dilution of existing shareholders' stakes. OpenAI, which is 49% owned by Microsoft, has integrated its AI technology into various Microsoft products. The company expects to reach $1 billion in revenue by the end of 2023, largely due to the success of its ChatGPT product.

Portfolio Pulse from Rounak Jain

September 27, 2023 | 9:29 am