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The Federal Reserve announced it will maintain its benchmark interest rates in the range of 5.25% to 5.5%. Fed Chair Jerome Powell dismissed speculations about potential rate cuts and left the door open for further rate hikes. Powell's comments led to a decline in U.S. Treasury yields and a rise in the US Treasury 10 Year Note ETF (UTEN) and the iShares 20+ Year Treasury Bond ETF (TLT). Stocks surged during Powell’s press conference, with the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ), and the Technology Select Sector SPDR Fund (XLK) all showing gains.

Portfolio Pulse from Piero Cingari

November 01, 2023 | 7:43 pm

STLA

Bernstein analyst Daniel Roeska has upgraded Stellantis N.V. (NYSE:STLA) to Outperform from Market-Perform with an increased price target of $26.40. Despite forecasting lower earnings in FY24-25, Roeska is optimistic about the company's future, citing strong regional exposure and growth opportunities. He expects Stellantis to generate over €10 billion in annual FCF in FY24 and FY25, and sustainably generate more than €22 billion operating cash flow annually. However, he lowered the earnings estimate by 5% for FY24 and 12% for FY25 due to the slowing macro and pricing environment in the U.S. and Europe.

Portfolio Pulse from Lekha Gupta

November 01, 2023 | 7:42 pm

PSTV

Plus Therapeutics, Inc. (NASDAQ:PSTV) shares are trading higher after the company reported Q3 financial results. The company reported quarterly losses of $1.00 per share, beating the analyst consensus estimate of losses of $1.12 per share. However, quarterly sales of $1.24 million missed the analyst consensus estimate of $1.29 million. Plus Therapeutics also announced a share repurchase program to purchase up to $500,000 of common stock.

Portfolio Pulse from Ryan Gustafson

November 01, 2023 | 7:38 pm

PRO

PROS Holdings reported better-than-expected Q3 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:38 pm

SSTK

Shutterstock's shares are trading lower after Needham maintained a Buy rating on the stock but lowered its price target from $76 to $60.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:37 pm

META

Investor Business Daily SwingTrader has reportedly purchased stock in Meta Platforms.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:36 pm

BRY

Berry Corporation reported a year-over-year decrease in Q3 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:36 pm

BXC

Bluelinx Holdings reported better-than-expected Q3 adjusted EPS results and issued Q4 guidance. The company also announced a $100M share repurchase authorization, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:36 pm

RGNX

Regenxbio's stock is trading higher after Stifel initiated coverage on the stock with a Buy rating and a price target of $35.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:34 pm

JBSS

John B. Sanfilippo & Son's shares have dropped following the company's report of a year-over-year decrease in Q1 revenue results.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:32 pm