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LICY

Li-Cycle Holdings Corp (NYSE:LICY) stock fell after announcing engagement with Moelis & Company LLC to evaluate financing and strategic alternatives. The company reported Q3 revenue of $4.7 million, surpassing estimates, and an adjusted loss per share better than expected. Li-Cycle is also taking steps to conserve cash following the pause in the Rochester Hub project.

Portfolio Pulse from Adam Eckert

November 14, 2023 | 4:58 pm

WKHS

Workhorse Group Inc (NASDAQ:WKHS) reported Q3 FY23 sales of $3.03 million, significantly below the consensus estimate of $20.9 million. The company faced delays in HVIP voucher availability in California, impacting its ability to deliver vehicles. Despite resolving the HVIP issue, Workhorse slashed its FY23 revenue outlook from $65-$85 million to $10-$15 million, far below the consensus of $63.01 million. The company also reported a narrowed gross loss and is exploring strategic alternatives for its Aero business. Workhorse shares dropped by 4.18% following the news.

Portfolio Pulse from Lekha Gupta

November 14, 2023 | 4:57 pm

SKIN

Beauty Health Co (NASDAQ:SKIN) shares plummeted after reporting disappointing Q3 results, lowering full-year guidance, and suspending 2025 targets. Analysts from Benchmark, Raymond James, and Stifel reacted by downgrading the stock and adjusting price targets due to product issues with the U.S. Syndeo launch, a decline in Americas sales, and broader industry challenges. Beauty Health will incur a special charge of $44.4 million and an inventory write-off of $18.8 million for Syndeo-related fixes.

Portfolio Pulse from Priya Nigam

November 14, 2023 | 4:56 pm

DSGN

RBC Capital analyst Leonid Timashev has maintained a 'Sector Perform' rating on Design Therapeutics (NASDAQ:DSGN) but has lowered the price target from $7 to $4.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 4:52 pm

ZDPY

Zoned Properties, Inc. (OTCQB:ZDPY), a cannabis-focused real estate development firm, reported a 17.2% increase in revenue for Q3 2023 compared to the same quarter last year. The company saw a net income of $114,523, reversing a net loss from the previous year. Operating expenses increased slightly by 1.7%. For the nine-month period, revenues were up 6.3%, but the company experienced a slight increase in net loss. Cash on hand decreased from the previous quarter. The CEO highlighted a full pipeline of acquisitions and a disciplined capital allocation approach. ZDPY shares traded 9.4286% higher at $0.4979 following the announcement.

Portfolio Pulse from Jelena Martinovic

November 14, 2023 | 4:51 pm

ENR

Energizer Holdings, Inc. (ENR) reported a 2.6% increase in Q4 FY23 sales to $811.10 million, surpassing consensus estimates. Adjusted EPS was $1.20, beating estimates of $1.13. Adjusted gross margin improved due to cost savings, lower freight costs, pricing initiatives, and favorable currency impacts. The company reduced net leverage and paid down debt. However, FY24 outlook anticipates flat to lower organic revenue and adjusted EPS below estimates. ENR shares rose 8.37% to $36.44.

Portfolio Pulse from Nabaparna Bhattacharya

November 14, 2023 | 4:46 pm

ING

ING Groep's (NYSE:ING) short interest has increased by 28.57% since the last report, with 3.30 million shares sold short, representing 0.09% of available shares. It would take about 1 day to cover all short positions. While this rise in short interest could indicate bearish sentiment, it is lower than the peer group average of 0.85% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

MU

Micron Technology (NYSE:MU) has seen a decrease in short interest, with the short percent of float dropping 6.77% since the last report. The company has 19.64 million shares sold short, which is 1.79% of available shares, taking traders 1.69 days to cover on average. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term price rise. Micron's short interest is below its peer group average of 3.64%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

NSC

Norfolk Southern's (NYSE:NSC) short interest has decreased by 7.09% since the last report, with 2.67 million shares sold short, representing 1.18% of available shares. The average time to cover these short positions is 1.87 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on NSC. Compared to its peers, NSC has a higher short interest percentage of float (1.18% vs. peer average of 0.94%).

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

VKTX

Viking Therapeutics Inc (NASDAQ:VKTX) shares rose after presenting positive Phase 2b study data for VK2809, showing significant liver fat reductions in patients with or without type 2 diabetes and with F2 or F3 fibrosis. The company anticipates further data in the first half of 2024.

Portfolio Pulse from Adam Eckert

November 14, 2023 | 4:42 pm