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MSG

SPHR

The MSG Sphere, a part of Sphere Entertainment Co (NYSE:SPHR) and Madison Square Garden Entertainment Corp (MSG), recently debuted in Las Vegas. The venue, which cost $2.3B to build, charges $450k for one day of advertising. It would need to run ads for approximately 5,111 consecutive days, or roughly 14 years, to recover its construction cost solely through advertising revenue. SPHR's stock saw an increase of 12.04% at $41.64, while MSG's stock dipped slightly by 0.60% at $175.23.

Portfolio Pulse from Sudhanshu Singh

October 03, 2023 | 4:33 pm

Macy's Inc has announced an accelerated expansion of its small-format store strategy, with plans to open up to 30 new locations nationwide starting from 2024. This is in addition to the nearly 15 small-format Macy's and Bloomie's locations currently in operation. The company's small-format stores have achieved positive comparable owned plus licensed sales growth year-to-date through spring 2023.

Portfolio Pulse from Shivani Kumaresan

October 03, 2023 | 4:29 pm

FEMY

OCEA

PNT

SDC

SPRC

VERY

US stocks fell with the Nasdaq Composite dropping over 200 points. Job openings increased by 690,000 to 9.61 million in August. Vericity, Inc. (VERY) shares rose 87% after iA Financial Group announced its acquisition. POINT Biopharma Global Inc. (PNT) shares rose 85% after Eli Lilly And Co (LLY) agreed to acquire it. SciSparc Ltd. (SPRC) shares rose 33% after being granted a European patent. SmileDirectClub, Inc. (SDC) shares fell 42% after receiving a delisting notice from Nasdaq. Ocean Biomedical, Inc. (OCEA) shares fell 26% after announcing its cancer-targeting immunotherapy antibody candidate's results. Femasys Inc. (FEMY) shares fell 36%.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 4:20 pm

PATH

UiPath Inc (NYSE:PATH) has expanded its partnership with Apprio to offer AI-powered automation solutions for midmarket healthcare companies. The collaboration will help UiPath accelerate its capabilities in transforming and modernizing the healthcare industry. Earlier this year, UiPath achieved certified status for its UiPath Orchestrator, UiPath Insights, UiPath Automation Hub, and their supporting services in the UiPath Automation Cloud Platform. Last month, UiPath posted Q2 earnings of nine cents per share, beating the analyst consensus estimate of three cents.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 4:17 pm

NVTA

Invitae's Common Hereditary Cancers Panel has received FDA market authorization, marking the first authorization of its kind. This could provide marketing differentiation and opportunities for the largest testing category. It also sets the bar for expected performance and data required for future regulatory approval of similar products.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:11 pm

GOOGL

MSFT

Zoom Video Communications Inc. is planning to release its own version of Google Docs, according to the Washington Post. This move is seen as a direct competition to Google and Microsoft's dominance in the online collaboration tools market.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:08 pm

AAPL

PYPL

PayPal and Venmo credit and debit cards can now be added to Apple Wallet. This allows customers to earn cashback and rewards while using Apple Pay for in-store, online, or app-based payments.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:01 pm

JBLU

UBER

Uber Technologies, Inc's enterprise arm Uber for Business has partnered with JetBlue Airways Corporation to offer complimentary Uber vouchers to customers who experience qualified travel disruptions or flight delays. The program is currently available across the U.S. and plans to expand internationally in the coming months.

Portfolio Pulse from Nabaparna Bhattacharya

October 03, 2023 | 3:55 pm

DISCA

Discovery+ has announced a price increase for its ad-free monthly subscription in the U.S. from $6.99 to $8.99, effective October 3. The ad-lite subscription price remains unchanged at $4.99/month. Existing subscribers will see the increase on their next billing cycle on or after November 2.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 3:22 pm

SLB

Schlumberger N.V. (NYSE:SLB) has launched a carbon storage screening and ranking solution to aid in site selection based on scientific analysis of an asset's long-term integrity and economic potential. The solution is aimed at reducing the chances of carbon capture and storage, getting final approval for investment. The company has already used the solution in Trinidad and Tobago to screen and rank potential storage sites.

Portfolio Pulse from Nabaparna Bhattacharya

October 03, 2023 | 3:12 pm