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EL

RBC Capital analyst Nik Modi has downgraded Estee Lauder Cos (NYSE:EL) from Outperform to Sector Perform and lowered the price target from $195 to $115.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:47 am

TSLA

Billionaire investor Ron Baron predicts that Elon Musk's SpaceX could surpass Tesla in value by the 2030s. Baron has invested approximately $700 million in SpaceX since 2017 and expects its valuation to reach $250 billion when it goes public with its Starlink satellite internet service within three years. By 2030, he anticipates SpaceX's valuation to be between $500 billion and $600 billion. SpaceX's financial records are not publicly accessible, but it was recently revealed that Musk took a $1-billion loan from SpaceX to finance his purchase of Twitter.

Portfolio Pulse from Anan Ashraf

November 02, 2023 | 9:42 am

ATHM

Autohome reported Q3 adjusted earnings of $0.67 per share, beating the analyst consensus estimate of $0.60 by 11.67%. However, the company's quarterly sales of $261.20 million missed the analyst consensus estimate of $261.70 million by 0.19%. This represents a 1.52% increase in earnings and a 0.80% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:41 am

HES

Bernstein analyst Bob Brackett has downgraded Hess (NYSE:HES) from Outperform to Market Perform and lowered the price target from $189 to $166.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:41 am

FUN

SEAS

SIX

Six Flags Entertainment Corp (NYSE:SIX) and Cedar Fair (NYSE:FUN) are reportedly close to finalizing a merger that could reshape the regional amusement park industry in the U.S. The merger comes as Cedar Fair, owner of attractions like Ohio's Cedar Point, is set to disclose its earnings. The deal would combine Six Flags' 27 parks in North America with Cedar Fair's properties and hospitality ventures. The merger talks are happening amid activism from investor Jonathan Litt, who has urged Six Flags to monetize its real estate assets.

Portfolio Pulse from Shivani Kumaresan

November 02, 2023 | 9:36 am

TLLTF

TILT Holdings Inc. has announced a new brand partnership with Flower by Edie Parker to distribute its products in Pennsylvania through TILT’s subsidiary, Standard Farms, LLC. The launch of Flower by Edie Parker's portfolio of designer products and accessories at TILT’s Standard Farms is expected in early 2024. TILT Holdings' stock closed 11.6% lower at $0.0305 per share on Wednesday.

Portfolio Pulse from Nina Zdinjak

November 02, 2023 | 9:36 am

PCOR

Jefferies analyst Brent Thill has downgraded Procore Technologies (NYSE:PCOR) from Buy to Hold and lowered the price target from $90 to $55.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:20 am

BYDDF

TSLA

Warren Buffett-backed Chinese automaker BYD Co Ltd is set to surpass Tesla Inc. in quarterly electric vehicle (EV) sales. BYD's October sales figures showed a 60% YoY growth in battery-electric vehicles (BEVs), bringing it close to Tesla's sales. Wall Street estimates suggest that BYD will outpace Tesla in Q4, shipping about 490,000 BEVs against Tesla’s projected 475,000. However, Tesla is expected to maintain its lead for the full year.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 9:17 am

BTCUSD

ETHUSD

Ether futures premiums are now matching Bitcoin futures on the Chicago Mercantile Exchange (CME), indicating a significant shift in crypto market sentiment. Analysts from K33 Research suggest that the negative outlook on Ethereum has faded and traders are less likely to hedge Bitcoin exposure with Ether. The derivatives markets are reflecting a more optimistic outlook following Bitcoin’s latest 4% price rally. However, there is no strong evidence of a consistent rise in spot volumes.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 9:16 am

VGK

The Eurozone Manufacturing Purchasing Managers' Index (PMI) for October was reported at 43.1, lower than the estimated 43.4.

Portfolio Pulse from Charles Gross

November 02, 2023 | 9:05 am