Streetbeat News

Stock Prices

MRK

The FDA's Pulmonary-Allergy Drugs Advisory Committee is set to review Merck & Co's (NYSE:MRK) gefapixant, a drug for chronic cough. The FDA previously declined approval due to concerns after Merck submitted additional efficacy data. The drug has been approved in the EU and Japan. FDA documents show gefapixant's modest efficacy and high discontinuation rates due to taste-related side effects. The committee will discuss if the benefits are clinically meaningful. MRK shares are slightly down.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 5:26 pm

PLUG

Plug Power's stock (PLUG) trades lower following a downgrade by Citigroup from Buy to Neutral, with a reduced price target from $12.5 to $5.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:24 pm

ARCO

Arcos Dorados Holdings Inc. (ARCO) stock is trading higher following the release of their third-quarter financial results, which surpassed market expectations.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:23 pm

ABR

Arbor Realty Trust's stock price is trading lower following a negative report published by Viceroy Research.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:22 pm

WMG

Warner Music Group Corp (NASDAQ:WMG) reported Q4 FY23 results with a 6% Y/Y revenue increase to $1.59 billion, surpassing consensus estimates. Recorded Music and Music Publishing revenues grew, as did Digital. Adjusted OIBDA was up 20% Y/Y, and adjusted EPS of $0.34 beat estimates. Despite positive results, WMG shares fell 4.57% to $31.35. The company holds $641 million in cash and equivalents, though operating cash flow decreased by 17%. CFO Bryan Castellani highlighted strong performance, cost management, and future growth opportunities.

Portfolio Pulse from Lekha Gupta

November 16, 2023 | 5:21 pm

META

Meta Platforms Inc (NASDAQ:META) is appealing the European Union's Digital Markets Act (DMA) designation as a 'gatekeeper' service. Despite regulatory challenges, Meta's stock has surged 171% year to date, with a 10% increase in November alone. Following Q3 earnings, the stock rose 11%, nearing last year's high of $343. The stock closed at $332.77 on November 15.

Portfolio Pulse from Zaheer Anwari

November 16, 2023 | 5:20 pm

LVRO

Lavoro shares have seen an uptick following Stifel's initiation of coverage with a Buy rating and a price target of $12.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:19 pm

UTI

Universal Technical Institute's stock is trading higher following the announcement of Q4 sales that exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:18 pm

AMX

America Movil Inc. (NYSE:AMX) saw a 0.90% drop in its share price to $17.57 in the current market session. Despite a 6.77% increase over the past month, the stock has decreased by 11.52% over the past year. The company's P/E ratio of 11.92 is lower than the Wireless Telecommunication Services industry average of 41.07, which could indicate undervaluation or weaker growth prospects.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 5:15 pm

OTLY

Oatly Group AB's stock (OTLY) is trading higher following the announcement of its products now being available nationwide at Insomnia Cookies locations.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:14 pm