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KNDI

Kandi Technologies Group Inc reported a Q3 FY23 sales increase of 8.2% Y/Y to $36.4 million. Gross margin expanded to 30.0% from 18.9% the prior year. Operating expenses rose to $14.5 million from $8.6 million in the same period of 2022. Net income was $1.3 million, an improvement compared to $1.1 million during the same period in 2022. The company's CEO stated that their primary focus for 2024 is to increase their market share in the North American market.

Portfolio Pulse from Lekha Gupta

November 08, 2023 | 5:57 pm

AIP

Arteris has issued Q4 and FY23 revenue guidance below estimates, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:57 pm

HGTY

Hagerty reported better-than-expected Q3 revenue results and issued FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:56 pm

DRRX

ESTA

FTCI

GAN

REAL

WISH

US stocks traded lower with the Dow Jones falling around 100 points. US wholesale inventories rose by 0.2% month-over-month in September. ContextLogic Inc. (WISH), GAN Limited (GAN), and The RealReal, Inc. (REAL) saw their shares rise following strong quarterly sales and acquisition news. DURECT Corporation (DRRX), FTC Solar, Inc. (FTCI), and Establishment Labs Holdings Inc. (ESTA) shares dropped due to disappointing results and executive departures.

Portfolio Pulse from Lisa Levin

November 08, 2023 | 5:55 pm

BLK

GS

USDCUSD

Circle Internet Financial, the firm behind the USD Coin (CRYPTO: USDC) stablecoin, is reportedly exploring a transition into a publicly traded company as early as 2024. The company is in the consultation phase, engaging with advisory entities regarding a potential IPO. The company's valuation ambitions for an IPO remain undisclosed, but in a previous attempt to enter the public market through a SPAC in 2022, Circle was pegged at a $9 billion valuation. Circle is backed by heavyweight investors such as Goldman Sachs Group Inc. (NYSE:GS), General Catalyst Partners, BlackRock Inc. (NYSE:BLK), Fidelity Management and Research, and Marshall Wace.

Portfolio Pulse from Murtuza Merchant

November 08, 2023 | 5:54 pm

SPTN

SpartanNash reported worse-than-expected Q3 financial results and reduced its FY23 guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:51 pm

JPM

Bill Baruch, during a live CNBC broadcast, announced his new buy: JP Morgan Chase & Co. The shares of the company have risen by 7.5% over the past three months.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:51 pm

SPTN

SpartanNash Company reported a 1.4% YoY decline in Q3 FY23 sales to $2.264 billion, missing the consensus of $2.298 billion. The company attributed the decrease to declines in the Wholesale and Retail segments, impacted by a reduction in volume, partially offset by inflationary trends. Adjusted EPS of $0.54 missed the consensus of $0.59. The company revised its FY23 revenue outlook to $9.65 billion-$9.85 billion, down from the previous $9.65 billion-$9.95 billion. SPTN shares are trading lower by 10.79%.

Portfolio Pulse from Akanksha Bakshi

November 08, 2023 | 5:47 pm

XPEL

XPEL's shares are trading lower following the company's Q3 financial results, which were below expectations.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:47 pm

OXY

A financial giant has made a bearish move on Occidental Petroleum (NYSE:OXY), with 61% of traders showing bearish tendencies. The company's options have been targeted for a price range from $30.0 to $67.5 over the last 3 months. The price of OXY is up 1.94% at $61.37. Stephens & Co. downgraded its action to Overweight with a price target of $74, while Susquehanna maintains a Positive rating with a target price of $78.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:46 pm