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VEON

VEON Ltd. (NASDAQ:VEON) reported a 6.1% Y/Y increase in Q3 FY23 sales, reaching $945 million. 4G and Multiplay user revenues rose by 15.4% to $474 million, and service revenue grew by 6.9% to $913 million. EBITDA was up 17% to $444 million, with a margin expansion of 440 basis points to 47%. Net debt stood at $1.3 billion, while EPS from continuing operations decreased slightly to $0.07 from $0.08. The company has $2.2 billion in cash and equivalents. VEON raised its FY23 revenue and EBITDA growth outlook but lowered its Capex intensity outlook. Shares dropped by 1.86% to $19.50.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 2:54 pm

UBER

Uber Technologies Inc (NYSE:UBER) has announced a proposed offering of $1.2 billion in convertible senior notes due 2028, with an option for purchasers to buy an additional $180 million in notes. The proceeds will fund capped call transactions and repay outstanding debt. Despite initial volatility, Uber's stock recovered slightly, trading up 0.29% at $54.69.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 2:54 pm

CVNA

There was a notable options market activity for Carvana (CVNA), where a sweep of 500 call options for a strike price of $36 with a Friday expiration was executed above the asking price, at $0.529 each. This is compared to an open interest of 2578 for these options, with Carvana's stock reference price at $33.445.

Portfolio Pulse from Charles Gross

November 20, 2023 | 2:51 pm

NSTG

TD Cowen analyst Dan Brennan downgraded NanoString Technologies (NSTG) from Outperform to Market Perform and reduced the price target from $6 to $1.4, indicating a more cautious view on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:48 pm

Ford Motor Company has announced that it is on track to resume full production schedules at its assembly plants in Michigan, Kentucky, and Illinois, which were impacted by a recent strike. However, the company acknowledged that the new labor agreement resulting from the strike has added significant costs.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:47 pm

BRSH

CUEN

INBS

MSFT

NOGN

NSTG

PXMD

U.S. stocks opened higher with the Nasdaq Composite gaining over 50 points. Information technology shares led the gains, while utilities fell. Microsoft CEO announced OpenAI's leaders joining the company. Bruush Oral Care, Nogin, and Cuentas reported significant share price increases, while NanoString Technologies, PaxMedica, and Intelligent Bio Solutions saw sharp declines. Oil prices rose, gold and silver fell, and copper increased. European markets were mixed, and Asian markets closed mixed. The People's Bank of China kept lending rates steady.

Portfolio Pulse from Lisa Levin

November 20, 2023 | 2:46 pm

Hang Seng Indexes has announced the results of its index review, which now includes Li Auto Inc. as part of the Hang Seng Index. This inclusion reflects Li Auto's growing significance in the market and is likely to increase the visibility and potential investor interest in the company.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:46 pm

LSXMA

MOMO

SBGI

VEON

Benzinga Insights identifies value stocks in the communication services sector with low P/E ratios, including MOMO, LSXMA, KT, SBGI, and VEON. The article provides recent earnings per share data and dividend yields, noting the potential risk that the undervalued position of these stocks may not rebound.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 2:45 pm

ARGT

BMA

GGAL

YPF

Javier Milei's victory in Argentina's presidential election led to a surge in Argentine ADRs and ETFs in U.S. markets. The Global X MSCI Argentina ETF (ARGT) rose by 13%, while ADRs like YPF Sociedad Anonima (YPF), Banco Macro S.A. (BMA), and Grupo Financiero Galicia S.A. (GGAL) saw significant premarket gains. Milei's economic proposals include privatization, dollarization, and fiscal reforms. Goldman Sachs highlighted risks associated with these changes, particularly for the exchange rate. The Argentine peso's volatility against the dollar Tether (USDT) on Binance and the disparity between official and parallel exchange rates are concerns for financial stability.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 2:45 pm

ACOR

NUWE

OCUP

PRE

XCUR

The article identifies notable value stocks in the healthcare sector based on low P/E multiples, suggesting they may be undervalued. Nuwellis, Exicure, Acorda Therapeutics, Prenetics Global, and Ocuphire Pharma are mentioned with their respective P/E ratios and recent earnings per share (EPS) data. The article highlights the potential for value stocks to rebound but also notes the risk that the expected emergence may not materialize.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 2:44 pm