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VHT

XLV

The October nonfarm payrolls report shows an increase of 150,000 jobs and an unemployment rate of 3.9%. However, the report also shows a 33,000-job decline in the motor vehicles and parts manufacturing space due to the UAW strike. If these jobs are added back in, the total exceeds expectations. Job gains were seen in several sectors, with the largest gains in the health care sector. Health care sector-tracking ETFs such as the SPDR Select Sector Fund – Health Care (XLV) and the Vanguard Health Care ETF (VHT) were seen gaining 1.04% and 1.26%, respectively.

Portfolio Pulse from Surbhi Jain

November 03, 2023 | 5:54 pm

MU

Micron Technology, Inc. (NASDAQ:MU) has been invited by China's commerce minister to expand its presence in the Chinese market. This comes after a period of tension where Micron was prohibited from selling to Chinese key infrastructure providers due to a failed network safety evaluation. The invitation is seen as part of a thawing in tensions between the US and China.

Portfolio Pulse from Nabaparna Bhattacharya

November 03, 2023 | 5:52 pm

NIO

Nio Inc's shares rose by 5.5% due to the company's recent delivery update and positive market sentiment following the Federal Reserve's decision. NIO reported a 59.8% YoY increase in October 2023 deliveries, reaching a cumulative delivery milestone of 415,623 vehicles. The company's ET5T received a five-star safety rating from Euro NCAP and has expanded its charging infrastructure.

Portfolio Pulse from Henry Khederian

November 03, 2023 | 5:52 pm

ZS

Investor Business Daily SwingTrader has reportedly purchased stock in Zscaler (ZS).

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:51 pm

COIN

Analysts have maintained their ratings on Coinbase Global Inc (NASDAQ:COIN) following its Q3 FY23 results, which beat consensus estimates. The company reported a revenue of $674 million, down 5% Q/Q. Analysts are optimistic about the company's future, citing potential drivers such as the approval of a Bitcoin ETF and the launch of derivative products. However, some analysts expect a muted stock reaction due to the recent rally in the stock and the magnitude of the top line beat being less than in Q2.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 5:51 pm

EIS

TER

Teradyne has warned that the recent Israel-Hamas conflict could negatively impact its future revenue and supply chain. The company's customers and suppliers in Israel may experience delays due to the conflict, which could materially impact demand for its products. Global economic uncertainty following the start of the conflict could also affect demand.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:46 pm

PEP

PepsiCo's short percent of float has risen 13.27% since its last report, with 15.25 million shares sold short, which is 1.11% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, PepsiCo's short interest as a percentage of float is less, with an average of 6.56%.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 5:45 pm

COST

Costco Wholesale's (NYSE:COST) short percent of float has risen 8.16% since its last report, with 4.70 million shares sold short, which is 1.06% of all regular shares available for trading. It would take traders 2.42 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Costco's peer group average for short interest as a percentage of float is 3.89%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 5:45 pm

NUE

Nucor's (NYSE:NUE) short percent of float has fallen 4.03% since its last report, with 5.35 million shares sold short, which is 2.86% of all regular shares available for trading. It would take traders 3.73 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 3.68%.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 5:45 pm

CNFR

FANH

HIPO

MRAI

PGR

ROOT

SLQT

TRUP

Insurance stocks saw significant movement in Friday's intraday session. Gainers included Hippo Holdings (HIPO), Trupanion (TRUP), Heritage Insurance Hldgs (HRTG), Lemonade (LMND), Waterdrop (WDH), and Oscar Health (OSCR). Losers included SelectQuote (SLQT), Marpai (MRAI), Conifer Holdings (CNFR), Fanhua (FANH), Root (ROOT), and Progressive (PGR). Most of the companies recently released their Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 5:40 pm