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GM

Morgan Stanley's Adam Jonas warns that investor interest in traditional automakers like Ford Motor Co. and General Motors Co. as a less-expensive alternative to electric vehicle (EV) stocks might be misguided. Both companies have not lived up to expectations in the EV market, with their shares declining significantly over the past month. Despite reaching agreements to end strikes, new contracts constitute additional cost burdens, and rising interest rates threaten demand and transaction prices.

Portfolio Pulse from Benzinga Neuro

November 01, 2023 | 9:21 am

PAYC

Deutsche Bank analyst Brad Zelnick has downgraded Paycom Software (NYSE:PAYC) from Buy to Hold and lowered the price target from $400 to $175.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 9:08 am

AAPL

Apple Inc. is set to announce its earnings on November 2, with a focus on the demand for the recently launched iPhone 15. Analysts are looking at challenges including supply constraints and consumer confidence affecting Apple's guidance for the December quarter. There are also concerns about supply constraints with TSMC's 3-nanometer process for high-end iPhones.

Portfolio Pulse from Benzinga Neuro

November 01, 2023 | 9:01 am

SHOP

Exane BNP Paribas analyst Stefan Slowinski has upgraded Shopify (NYSE:SHOP) from Underperform to Neutral.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:54 am

ADDYY

NKE

Adidas (OTC:ADDYY) is banking on its classic Samba sneaker to fill the $2 billion gap left by the dissolution of its Yeezy partnership with Ye, formerly known as Kanye West. The company is increasing production of its retro models, potentially reaching a rate of 15 million pairs a year. Adidas' stock has seen a 30% rise this year, outperforming a 14% drop in Nike's (NYSE:NKE). The company is set to update investors on its financial performance on Nov. 8.

Portfolio Pulse from Benzinga Neuro

November 01, 2023 | 8:51 am

PAYC

Piper Sandler analyst Arvind Ramnani has downgraded Paycom Software (NYSE:PAYC) from Overweight to Neutral and lowered the price target from $399 to $185.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:43 am

TIP

Chamath Palihapitiya criticized the U.S. Treasury's plan to borrow $1.592 trillion from the private debt market, calling it a 'huge fiscal and monetary failure of action' between the Treasury and the Fed. Tesla CEO Elon Musk responded, saying 'This won't end well.' Treasury yields have been surging, pushing up the government's borrowing costs. The iShares TIPS Bond ETF (TIP) ended Tuesday's session down 0.25% at $102.80.

Portfolio Pulse from Shanthi Rexaline

November 01, 2023 | 8:22 am

GSK

GlaxoSmithKline (GSK) has updated its FY23 turnover forecast, now expecting an increase of 12-13% Y/Y, up from the previous range of 8-10%. The company also anticipates adjusted EPS growth to be 17-20%, compared to the prior guidance of 14%-17%.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:02 am

TSLA

During a three-hour interview, Joe Rogan shot an arrow at Tesla's upcoming Cybertruck, which failed to penetrate the back door, impressing Rogan. Tesla CEO Elon Musk described the Cybertruck as 'an armored personnel carrier from the future' and noted that the door panels are bulletproof to almost all subsonic projectiles. The Cybertruck is expected to weigh up to 7000 pounds and can go from 0-60 mph in under 3 seconds for the 'beast mode' version. Tesla aims to make 200,000 Cybertrucks annually at volume production, with Musk predicting that the company will reach this target in 2025.

Portfolio Pulse from Anan Ashraf

November 01, 2023 | 8:02 am

EWU

The U.K. Nationwide House Price Index (HPI) for October shows a year-on-year decrease of 3.3%, which is better than the estimated 4.8% decrease and the prior 5.3% decrease.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:02 am