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U.S. stocks traded mostly lower with the Dow Jones falling around 80 points. Ralph Lauren Corporation posted upbeat earnings for its second quarter, beating analyst consensus. Blade Air Mobility, GAN Limited, and The RealReal saw their shares rise following positive news. DURECT Corporation, FTC Solar, and Establishment Labs Holdings saw their shares drop due to negative news. Crude oil fell 2.5% and gold traded down 0.8%.

Portfolio Pulse from Lisa Levin

November 08, 2023 | 7:52 pm

DHI

RBC Capital analyst Mike Dahl has maintained an 'Underperform' rating on D.R. Horton (NYSE:DHI) and lowered the price target from $121 to $116.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:51 pm

EBAY

Benchmark analyst Daniel L. Kurnos has reiterated a Buy rating on eBay Inc but lowered the price target to $56 from $60 following Q3 results. eBay's revenue rose 5% Y/Y to $2.500 billion, slightly missing the consensus of $2.502 billion. The 3Q GMV of $17.99 billion was modestly ahead of consensus. However, due to FX headwinds and sluggish q/q improvement in advertising, revenue was only in line. The analyst reduced the 2024 GMV forecast by almost 4% to flat y/y due to underlying softness in the U.K. and Germany. The EBITDA comes in by roughly $60 million, although margin projections remain largely intact.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 7:48 pm

FGBI

Piper Sandler analyst Graham Dick downgraded First Guaranty Bancshares Inc (NASDAQ:FGBI) to Underweight from Neutral, lowering the price target to $9.50 from $12.00. The downgrade is due to continued pressure on the company's fundamentals, with core revenues down 18% Y/Y and core expenses up 12% Y/Y in Q3. The analyst also expressed concerns about late-cycle growth and a projected decline in the tangible common equity (TCE) ratio.

Portfolio Pulse from Lekha Gupta

November 08, 2023 | 7:45 pm

DKNG

Bank of America analyst Shaun C. Kelley has given a Buy rating to DraftKings Inc (NASDAQ:DKNG) with a price target of $40. Kelley predicts that DraftKings could raise its long-term revenue guidance by +30% with higher market share and a larger total addressable market. He also expects the company to provide 2026 targets of $6.1 to $6.5 billion in revenue and $1.1 to $1.3 billion in EBITDA. DraftKings shares are currently trading at $35.82, up 223% year-to-date in 2023.

Portfolio Pulse from Chris Katje

November 08, 2023 | 7:45 pm

MUFG

SMFG

TM

US-listed Japanese stocks, including MUFG, SMFG, and TM, are experiencing a downturn due to overall weakness in the Asia-Pacific market.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:44 pm

CRON

Cronos Group Inc (NASDAQ:CRON) (TSX:CRON) reported a 22% increase in Q3 2023 revenue to $24.8 million, despite operational challenges including a strategic exit from U.S. hemp-derived CBD operations and geopolitical unrest in Israel. The company's net loss improved by 95% to $1.59 million, and its gross profit rose by 26% to $4.0 million. Cronos' shares were trading 1.85% higher following the announcement.

Portfolio Pulse from Patricio Liddle

November 08, 2023 | 7:39 pm

CAE

Mackenzie Financial Corp has reported a 10.07% passive stake in CAE Inc as of October 31, according to an SEC 13G filing.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:37 pm

FOUR

Shift4 Payments, Inc (NYSE:FOUR) reported Q3 FY23 gross revenue growth of 23% YoY to $675.4 million, beating the consensus of $703.3 million. Adjusted EPS of $0.82 beat the consensus of $0.69. The company revised its FY23 gross revenue guidance to $2.60 billion - $2.63 billion. However, FOUR shares traded lower by 13.40% at $53.95 on the last check Wednesday.

Portfolio Pulse from Anusuya Lahiri

November 08, 2023 | 7:35 pm

DHI

A significant investor has adopted a bearish approach towards D.R. Horton (NYSE:DHI), with unusual options activity being observed. The investor's identity remains unknown, but such a move usually suggests insider knowledge. The trading activity indicates that significant investors are aiming for a price territory stretching from $90.0 to $135.0 for D.R. Horton over the recent three months. Analysts from Barclays, Goldman Sachs, and Raymond James have maintained positive ratings on D.R. Horton, with price targets of $130, $131, and $140 respectively.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 7:31 pm