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The CNN Money Fear and Greed index remained in the 'Fear' zone on Thursday, despite U.S. stocks closing sharply higher. The Dow Jones jumped more than 550 points, marking its best day since June. Starbucks Corp and S&P Global Inc. reported better-than-expected financial results, while U.S. initial jobless claims increased by 5,000 to 217,000. The Federal Reserve maintained interest rates for a second consecutive time. Investors are awaiting earnings results from Owens & Minor, Inc., Cardinal Health, Inc., Fluor Corporation, and Magna International Inc.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 6:57 am

TSLA

Elon Musk, CEO of Tesla Inc., discussed the future of jobs and the role of AI with UK Prime Minister Rishi Sunak. Musk believes that AI will eventually make all jobs obsolete, although he acknowledged the difficulty of predicting when this will occur. Sunak noted that AI has already created job opportunities and enhanced human capabilities. The conversation followed the AI Safety Summit, where tech companies and nations signed a voluntary agreement to allow governments to test their latest AI models for societal and national security risks.

Portfolio Pulse from Ananya Gairola

November 03, 2023 | 6:56 am

MOS

The U.S. Department of Commerce has adjusted the countervailing duty orders on phosphate fertilizers from Russia and Morocco. The rate for Russian producer PhosAgro was increased from 9.19% to 28.50%, while the rate for Moroccan producer OCP was decreased from 19.97% to 2.12%. The Mosaic Company (NYSE:MOS) expressed disappointment with the reduced Moroccan rates and asserted its commitment to fair trade practices.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 6:45 am

FET

Forum Energy Technologies has agreed to acquire Variperm Energy Services for $150 million in cash and 2 million shares of FET's common stock. The deal values Variperm at approximately 3.7x its trailing twelve months EBITDA as of September 30, 2023. The transaction is expected to close in January 2024, subject to customary closing conditions and Canadian regulatory approval. The combined company is expected to have a revenue of $873 million, an increase of 17%, and adjusted EBITDA of $121 million, an increase of 77%.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 6:19 am

FXI

China's Caixin Services Purchasing Managers Index (PMI) for October was reported at 50.4, lower than the estimated 51.2 and slightly higher than the previous 50.2.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:00 am

BTCUSD

Sam Bankman-Fried, former CEO of FTX, has been convicted on seven counts of criminal fraud. Investor Peter Schiff has called for accountability from politicians and regulators who he claims were complicit in Bankman-Fried’s fraudulent activities. Schiff, a critic of Bitcoin and advocate for gold, believes that free markets are more adept at regulation than these entities.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 1:13 am

BTCUSD

ETHUSD

Sam Bankman-Fried, the former CEO of FTX, has been found guilty on seven counts of criminal fraud, including wire fraud, securities fraud, commodities fraud, and money laundering. The charges could lead to a maximum sentence of 115 years in prison. The court case revolved around whether Bankman-Fried knowingly misappropriated $10 billion in customer funds from FTX's crypto exchange for personal and business expenses.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 12:22 am

AUPH

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) presented nine studies at the annual American Society of Nephrology Kidney Week 2023, reinforcing the safety and effectiveness of LUPKYNISⓇ (voclosporin) for the treatment of adult patients with active Lupus Nephritis (LN). The studies showed that patients treated with LUPKYNISⓇ achieved improvement in histologic activity with stable chronicity scores and no evidence of chronic injury. The data also suggested that LUPKYNISⓇ plus standard of care improved safety and demonstrated earlier reductions in proteinuria compared to a conventional regimen. A post-hoc analysis showed Black patients experienced improved outcomes and better renal response when using LUPKYNISⓇ.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:02 pm

IPVF

InterPrivate III Financial Partners Inc. (NYSE:IPVF) has announced that its board of directors has decided to extend the deadline to complete an initial business combination from November 9, 2023, to December 9, 2023. This is the sixth of nine potential one-month extensions available to the company. In connection with the extension, the company deposited $21,000 into the company's trust account.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:51 pm

WRNT

Warrantee Inc. (NASDAQ:WRNT) has received a delisting determination from Nasdaq due to non-compliance with filing requirements. The company has not filed its Form 20-F for the period ended March 31, 2023. Unless Warrantee appeals, trading of its American Depositary Shares will be suspended from November 7, 2023. The company plans to appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:49 pm