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SPY

Senator Rick Scott criticized Federal Reserve Chair Jerome Powell for the Fed's balance sheet problems, blaming him and his predecessors for the increase from $800 billion to around $9 trillion. Scott also criticized the lack of accountability among Fed officials. The SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.07% in premarket trading on Wednesday.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 10:40 am

FGBI

Piper Sandler analyst Stephen Scouten has downgraded First Guaranty Bancshares (NASDAQ:FGBI) from Neutral to Underweight and lowered the price target from $12 to $9.5.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:37 am

GAN

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SGAMY

Online gaming platform GAN Limited (NASDAQ:GAN) has agreed to be acquired by Sega Sammy Creation Inc., a subsidiary of Sega Sammy Holdings, Inc. (OTC: SGAMF, SGAMY), for $1.97 per share, a 121% premium over GAN's closing price on November 7, 2023. The merger is expected to close in Q4 2024, with GAN becoming a wholly-owned subsidiary of Sega Sammy Creation. GAN shares are trading higher by 96.2% to $1.75 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 10:35 am

KIND

Evercore ISI Group analyst Mark Mahaney has downgraded Nextdoor Holdings (NYSE:KIND) from Outperform to In-Line and lowered the price target from $5 to $3.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:29 am

AERT

Shares of Aeries Technology are trading in the premarket following the close of its business combination with Worldwide Webb Acquisition.

Portfolio Pulse from Charles Gross

November 08, 2023 | 10:25 am

COTY

Coty Inc reported Q1 FY24 sales growth of 18% YoY to $1.64 billion, beating the analyst consensus estimate of $1.58 billion. The sales increase was driven by double-digit LFL growth in Prestige and Consumer Beauty. Adjusted EPS was $0.09, missing the analyst consensus estimate of $0.17. The company also announced its offers to purchase for cash up to $150 million of its 6.500% Senior Notes due 2026 and up to $250 million of 5.000% Senior Notes due 2026. Coty and its counterparties have decided to end the partial sale of its Wella stake.

Portfolio Pulse from Shivani Kumaresan

November 08, 2023 | 10:25 am

TSLA

Tesla Inc. has started delivering the upgraded Model 3 in China, with initial handovers in Shenzhen, Beijing, and Jiaxing. This follows recent speculations about a high-performance 'Plaid' version of the Model 3, which could impact Tesla's market positioning in the competitive electric vehicle segment.

Portfolio Pulse from Benzinga Neuro

November 08, 2023 | 10:09 am

BEKE

KE Holdings has forecasted its Q4 FY23 revenue to be between $2.47B and $2.54B, which is lower than the consensus estimate of $2.65B.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:08 am

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TSLA

XPEV

According to the China Passenger Car Association, car sales in China are expected to rise by over 20% in November. This follows a nearly 10% year-on-year increase in October, marking the third consecutive month of gains.

Portfolio Pulse from Charles Gross

November 08, 2023 | 9:57 am

BYDDF

WLTMF

China's electric vehicle (EV) sector is experiencing significant growth despite the country's broader economic challenges, according to Standard Chartered CEO, Bill Winters. In 2022, China accounted for 59% of global EV sales, with local brands such as BYD and Wuling dominating the domestic market. This comes amid a struggling Chinese property market, with firms like Evergrande and Country Garden facing significant debt challenges.

Portfolio Pulse from Benzinga Neuro

November 08, 2023 | 9:56 am