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OSTK

An option alert has been issued for Overstock.com with January 2026 $30 calls sweep near the ask price. The volume is 400 at $4.828 against an open interest of 1128. The reference price is $15.76.

Portfolio Pulse from Charles Gross

October 31, 2023 | 4:30 pm

IPGP

IPG Photonics Corp reported a Q3 FY23 revenue decline of 14% YoY to $301.4 million, missing the consensus of $315.5 million. The company's adjusted EPS of $1.16 topped the consensus of $1.02. Despite challenges, the company saw growth in welding applications and increased demand for 3D printing applications. For Q4, IPG expects revenue of $270 million- $300 million, versus the consensus of $322.7 million, and EPS of $0.80 - $1.10 versus the consensus of $1.11.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 4:25 pm

CAT

CDIO

GRTX

KTRA

SIEN

SPRC

WOLF

Caterpillar Inc reported a 12% YoY increase in Q3 FY23 revenue to $16.81 billion, beating the consensus of $16.59 billion. The company's adjusted earnings of $5.52 per share also topped the consensus of $4.79. For Q4, Caterpillar expects slightly higher sales and revenues. Meanwhile, SciSparc Ltd, Cardio Diagnostics Holdings, and Wolfspeed, Inc saw their shares rise after positive news. However, Kintara Therapeutics, Galera Therapeutics, and Sientra saw their shares drop due to negative developments.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 4:24 pm

LSCC

Lattice Semiconductor Corp (NASDAQ:LSCC) reported its Q3 results, which were in line with expectations, but lowered its Q4 guidance due to softening demand in comm infra, industrial, and automotive end markets. This was offset by improving demand in traditional and AI servers. Analysts from KeyBanc Capital Markets, Stifel, Needham, Susquehanna, and Benchmark have all reduced their price targets for LSCC, while maintaining their ratings. LSCC shares declined by 16.01% to $56.52.

Portfolio Pulse from Priya Nigam

October 31, 2023 | 4:23 pm

EPD

Enterprise Products Partners L.P. (NYSE:EPD) reported a Q3 FY23 sales decline of 22.4% YoY to $11.99 billion, missing consensus estimates of $12.02 billion. Adjusted EBITDA fell to $2.17 billion from $2.42 billion in the prior year quarter. EPS was 60 cents, down from 61 cents in 3Q22, missing the consensus of 64 cents. The company announced four new capital projects to support production growth in the Permian Basin and expects growth capital investments of $3 billion in FY23.

Portfolio Pulse from Akanksha Bakshi

October 31, 2023 | 4:22 pm

SWI

The Securities and Exchange Commission (SEC) has filed a lawsuit against IT firm SolarWinds and its Chief Information Security Officer, Tim Brown, alleging that they misled investors about the company's cybersecurity practices and vulnerabilities. The lawsuit claims that SolarWinds and Brown ignored known cyber risks and made false statements about the company's security. This news led to a 1.5% drop in SolarWinds' shares. SolarWinds has denied the allegations and plans to contest them in court.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:17 pm

BABA

NVDA

The latest U.S. embargo on China regarding AI technology triggered a selloff in Nvidia Corp (NASDAQ:NVDA) stock. China's leading AI and cloud-computing companies, like Alibaba Group Holding Limited (NYSE: BABA), had placed orders to deliver AI chips worth over $5 billion in 2024. Nvidia unveiled its innovative research on utilizing chatbots for semiconductor design, which could save considerable time for senior designers and ensure precision and cost-effectiveness. Despite these advancements, Nvidia maintained that it does not look to replace human expertise.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 4:12 pm

SFM

Sprouts Farmers Market, Inc (NASDAQ:SFM) reported Q3 FY23 sales growth of 7.7% YoY to $1.71 billion, beating the analyst consensus estimate of $1.68 billion. Comparable store sales increased 3.9%. The company also announced the appointment of Curtis Valentine as its new CFO, effective January 1, 2024. Despite the positive results, SFM shares traded lower by 5.48% at $40.97.

Portfolio Pulse from Shivani Kumaresan

October 31, 2023 | 4:10 pm

TSLA

ZSB

Elon Musk and LG Energy Solution (LGES) have expressed concerns about the impact of high interest rates on the electric vehicle (EV) market. LGES, a battery supplier to Tesla, warned of slowing EV sales, causing its shares to hit a year-low. Automakers, including Tesla, General Motors, and Ford, are slowing down their EV factory expansion plans due to weaker demand forecasts. However, LGES plans to increase production capacity at its Arizona battery plant to capitalize on tax credits. The USCF ETF Trust USCF Sustainable Battery Metals Strategy Fund (NYSE:ZSB) offers exposure to the EV battery and electrification adoption.

Portfolio Pulse from Melanie Schaffer

October 31, 2023 | 4:10 pm

CVX

SLB

Stephanie Link announced live on CNBC that she has trimmed her position in Chevron (CVX) and increased her stake in Schlumberger N.V. (SLB).

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 4:09 pm