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PLUG

Shares of Plug Power, Inc. (NASDAQ:PLUG) fell over 31% in premarket trading due to investor concerns following the company's 'going concern' warning. The company reported a deficit of $3.8 billion at the end of Q3 due to negative cash flows and net losses. It also expects to generate operating losses for the foreseeable future. The company's existing cash and securities will not be sufficient to fund operations for the next 12 months. KeyBanc Capital Markets analyst Sangita Jain expects shares to remain under pressure until liquidity-enhancing measures are announced.

Portfolio Pulse from Shanthi Rexaline

November 10, 2023 | 11:55 am

FIGS

Shares of Figs Inc. are rising in premarket trading after investor Ron Baron discussed the stock in his portfolio. No specific details about the discussion were provided.

Portfolio Pulse from Charles Gross

November 10, 2023 | 11:54 am

U

Unity Software (NYSE:U) plans layoffs and cost-cutting measures following a decline in Q3 earnings. The company is evaluating its product portfolio to focus on valuable products and intends to implement changes in Q4, including discontinuing some products, reducing workforce, and cutting office space. The announcement comes after Unity's controversial Runtime Fee rollout in September, which led to a significant fall in the company's stock price.

Portfolio Pulse from Benzinga Neuro

November 10, 2023 | 11:48 am

CZR

MGM

WYNN

MGM Resorts International has reached a tentative agreement with Las Vegas hospitality workers' unions, averting a potential strike at eight MGM properties. This follows a similar agreement reached by Caesars Entertainment with its workers. Unions have also reached a tentative deal with Wynn Resorts Limited for a new contract covering 5,000 employees. MGM shares are trading lower by 0.92% at $37.86 in premarket on the last check Friday.

Portfolio Pulse from Shivani Kumaresan

November 10, 2023 | 11:45 am

HUT

USBTC

US Bitcoin Corp (USBTC) is progressing with its all-stock merger with Hut 8 Mining Corp, a North American digital asset mining pioneer. The merger is expected to close by November 30, 2023, and the common stock of the combined company, Hut 8 Corp., is expected to be listed on the Nasdaq and the Toronto Stock Exchange under the proposed ticker symbol HUT.

Portfolio Pulse from Charles Gross

November 10, 2023 | 11:45 am

PL

Planet Labs (NYSE:PL) announced that its Pelican tech demonstration satellite, Pelican-1, and 36 SuperDoves, Flock 4Q, will be launched on SpaceX's Transporter-9 mission on November 11, 2023. The mission will validate the design and operations of Planet's common bus platform, which will host Planet's next generation of imaging sensors. Planet's shares closed lower by 3.67% at $2.10 on Thursday.

Portfolio Pulse from Shivani Kumaresan

November 10, 2023 | 11:27 am

GRPN

TTD

U

Several stocks including Unity Software, Groupon, Trade Desk, and others are moving lower in Friday's pre-market session. Unity Software reported worse-than-expected Q3 revenue results, leading to a 13.2% drop in pre-market trading. Other companies such as Groupon, Plug Power, Trade Desk, Westrock Coffee Company, Diageo, Illumina, Applied Optoelectronics, Ballard Power Systems, Hawaiian Electric Industries, FuelCell Energy, and Wynn Resorts also reported disappointing financial results, leading to declines in pre-market trading.

Portfolio Pulse from Lisa Levin

November 10, 2023 | 11:24 am

HE

Wells Fargo analyst Jonathan Reeder has downgraded Hawaiian Electric Industries (NYSE:HE) from Equal-Weight to Underweight, while raising the price target from $8 to $8.5.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:18 am

EVA

JP Morgan analyst Drew Chamberlain has downgraded Enviva (NYSE:EVA) from Neutral to Underweight.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:16 am

PLUG

RBC Capital analyst Chris Dendrinos has downgraded Plug Power (NASDAQ:PLUG) from Outperform to Sector Perform and lowered the price target from $12 to $5.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:10 am