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DHI

MTH

PHM

Shares of homebuilders are trading higher following Meritage Homes' better-than-expected Q3 results.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:48 pm

MTH

Meritage Homes reported better-than-expected Q3 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:47 pm

SPY

Federal Reserve Chairman Jerome Powell stated that financial conditions have tightened and this will have an effect over time, although the speed of this effect is uncertain. He also noted the impact of higher rates on the housing market and durable goods buying.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:45 pm

ZBRA

Analysts from Needham, Stephens & Co, and KeyBanc have maintained their ratings on Zebra Technologies Corp (ZBRA) but lowered their price targets due to soft demand and visibility challenges. Q3 revenues were above the midpoint of guidance and 3% above consensus, but Q4 revenues are expected to decline 32% - 36% Y/Y. ZBRA shares traded lower by 6.66% at $195.48 on the last check Wednesday.

Portfolio Pulse from Anusuya Lahiri

November 01, 2023 | 6:44 pm

MSFT

Stifel analyst Brad R. Reback reiterated a Buy rating on Microsoft Corp (NASDAQ:MSFT) with a price target of $390. The analyst highlighted Microsoft's potential to leverage its AI leadership position to accelerate share gains across its platforms. This is the first time in over two decades that Microsoft is not playing from behind in an emerging tech trend. The analyst expects the coming AI cycle to allow Microsoft to sustain double-digit revenue and profitability growth for years to come.

Portfolio Pulse from Anusuya Lahiri

November 01, 2023 | 6:40 pm

SPY

Federal Reserve Chairman Jerome Powell has indicated that tighter financial conditions, including higher long-term rates, a stronger dollar, and lower stocks, could influence future rate conditions. He stated that these conditions would need to be persistent to have implications on monetary policy.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:40 pm

F

GM

Barclays analyst Dan Levy has upgraded the rating on Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) from Equal-Weight to Overweight with a price target of $14 and $37, respectively. The analyst notes that despite structural concerns, a modest reversal of negative sentiment could drive an attractive upside. The analyst prefers GM over Ford, noting that sentiment on GM is considerably worse, which should offer an easier reversion.

Portfolio Pulse from Shivani Kumaresan

November 01, 2023 | 6:38 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the Federal Open Market Committee (FOMC) will consider cumulative tightening, lags, and economic and financial developments in determining if more firming is needed. He also mentioned that reducing inflation may require below potential growth and softening labor conditions.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:37 pm

EYPT

EyePoint Pharmaceuticals reported Q3 revenues of $15.20 million, up from $10 million a year ago, beating the $7.52 million consensus. The company reported a smaller-than-expected EPS loss of 33 cents, beating the consensus loss of 51 cents. The company's cash runway extends into 2025. EyePoint also announced interim masked safety data for its lead product candidate EYP-1901. The company's plans to initiate the VERONA Phase 2 clinical trial evaluating EYP-1901 in diabetic macular edema (DME) in the first quarter of 2024 remain on track. EYPT shares are up 17.20% at $7.06.

Portfolio Pulse from Vandana Singh

November 01, 2023 | 6:36 pm

SPY

Federal Reserve Chairman Jerome Powell stated that a few months of good inflation data is only the beginning of what it will take to get down to the 2% target. He added that the Fed's restrictive stance is putting downward pressure on economic activity and inflation.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:35 pm