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Stock Prices

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) shares are trading higher by 0.8% due to the Fed's decision to keep interest rates unchanged. Low interest rates make it cheaper for companies like Amazon to borrow money for expansion, acquisitions, or new ventures, positively affecting its growth prospects and stock price. AMZN has a 52-week high of $145.86 and a 52-week low of $81.43.

Portfolio Pulse from Henry Khederian

November 02, 2023 | 7:57 pm

UPST

Upstart Holdings, Inc. (NASDAQ:UPST) shares are trading higher, with an increase of over 11% ahead of its Q3 earnings release. The company is expected to report losses of two cents per share and revenue of $140.26 million. A high level of short interest, with 38.87% of shares currently sold short, may be contributing to the price move. Upstart also announced a partnership with Vesta, a SaaS provider of mortgage loan origination software, to support its new home equity line of credit (HELOC) product.

Portfolio Pulse from Ryan Gustafson

November 02, 2023 | 7:55 pm

WFC

Wells Fargo & Co (NYSE:WFC) shares are trading higher by 2.9% due to the Fed's decision to keep interest rates unchanged. The Federal Reserve has maintained the federal funds rate at 5.25% to 5.5% for the second consecutive time. This decision can positively impact the banking sector as it maintains favorable lending conditions and preserves their net interest margins.

Portfolio Pulse from Henry Khederian

November 02, 2023 | 7:54 pm

BAC

Bank of America Corp (BAC) shares are trading higher by 4.2% amid overall market strength after the Federal Reserve kept rates unchanged. The Fed's decision to maintain the federal funds rate steady and its cautious approach to future rate increases reduces uncertainty in the financial markets, which is positive for banks. High inflation can erode the real value of loans, but a measured approach to rate hikes can help maintain the profitability of banks' lending operations.

Portfolio Pulse from Henry Khederian

November 02, 2023 | 7:53 pm

COR

Cencora Inc's Q4 FY23 adjusted EPS reached $2.86, beating the consensus of $2.80. Revenue was $68.9 billion, up 12.7% Y/Y, beating the consensus of $66.02 billion, primarily due to increased sales of products for diabetes and weight loss. However, the company's shares are down 2.73% at $192.35.

Portfolio Pulse from Vandana Singh

November 02, 2023 | 7:49 pm

ABNB

Airbnb's shares are trading lower following the release of its Q3 financial results and Q4 guidance.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 7:47 pm

MCK

McKesson Corporation reported its Q2 financial results and issued FY24 guidance, following which its shares traded lower.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 7:47 pm

DASH

A whale investor has taken a bearish stance on DoorDash (NASDAQ:DASH), with 77% of the spotted trades being bearish. The whales have been targeting a price range from $70.0 to $115.0 for DoorDash over the last 3 months. The price of DASH is up 15.85% at $87.93, but RSI indicators suggest the stock may be overbought.

Portfolio Pulse from Benzinga Insights

November 02, 2023 | 7:47 pm

EIS

IZRL

RSP

SPY

TLT

UUP

Russia's Wagner Group is reportedly considering supplying an air defense system to Hezbollah, which could significantly impact the ongoing conflict between Israel and Hamas. North Korea is also reportedly considering supporting the Palestinian cause. Meanwhile, the Israeli Defense Forces have made significant progress in Gaza City. In the financial markets, Israeli stocks and the Israeli shekel have appreciated, while the US dollar has faced losses.

Portfolio Pulse from Piero Cingari

November 02, 2023 | 7:46 pm

CVX

HES

XOM

Bernstein analyst Bob Brackett revised ratings on several oil majors following their earnings release. Exxon Mobil Corp (XOM) was reiterated at Outperform with a lowered price target of $139.00. Chevron Corp (CVX) was upgraded to Outperform with a lowered price target of $182. Hess Corp (HES) was downgraded to Market Perform with a reduced price target of $166. The analyst sees the Pioneer Natural Resources Co (PXD) acquisition as beneficial for XOM and the HES acquisition as more strategic for CVX.

Portfolio Pulse from Lekha Gupta

November 02, 2023 | 7:45 pm