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TRML

Guggenheim has initiated coverage on Tourmaline Bio with a Buy rating and a price target of $50. This has led to an increase in the trading of Tourmaline Bio shares.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:53 pm

MSCI

Investment research firm MSCI Inc reported Q3 FY23 revenue growth of 11.6% YoY to $625.44 million, slightly below consensus estimates. Adjusted EPS of $3.45 beat the consensus of $3.32. The firm saw significant growth in its ESG and Climate segment, with revenues growing 26.8% YoY to $73 million. MSCI's recent acquisitions of Burgiss and Trove are expected to strengthen its portfolio solutions. Despite the strong results, MSCI shares traded lower by 2.00% at $472.35.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 6:51 pm

PSMT

PriceSmart shares are trading lower following the company's worse-than-expected Q4 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:49 pm

DKNG

MGM

NBA star James Harden has been traded from the Philadelphia 76ers to the Los Angeles Clippers, a move that has significantly impacted the sports betting odds for the 2023-2024 NBA season. The trade has boosted the Clippers' odds of winning the NBA Championship from +1700 to +1200 at DraftKings Inc (NASDAQ:DKNG), and from +2200 to +1300 at BetMGM, a joint venture of MGM Resorts International (NYSE:MGM) and Entain. The 76ers' odds also slightly improved from +1900 to +1800.

Portfolio Pulse from Chris Katje

October 31, 2023 | 6:40 pm

CLSK

MARA

RIOT

Bernstein analyst Gautam Chhugani initiated coverage on U.S. Bitcoin miners with an Outperform rating on Riot Platforms, Inc (NASDAQ:RIOT) and CleanSpark, Inc (NASDAQ:CLSK), and a Market-Perform rating on Marathon Digital Holdings, Inc (NASDAQ: MARA). Chhugani prefers RIOT and CLSK due to their strong operational edge, low cost of production, high liquidity, and unlevered balance sheets. He projects FY23 revenue of $276.595 million for Riot, $347.108 million for Marathon, and $170.601 million for CleanSpark.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 6:39 pm

AVB

CPT

MAA

UDR

Piper Sandler analyst Alexander Goldfarb revised ratings on several real estate REITs amid higher interest rates and increased supply pressures. AvalonBay Communities Inc (AVB) was upgraded to Overweight from Neutral with a lowered price target of $194. Mid-America Apartment Communities Inc (MAA) was downgraded to Neutral from Overweight with a reduced price target of $130. Camden Property Trust (CPT) was downgraded to Underweight from Neutral with a price target cut to $80. UDR Inc (UDR) was also downgraded to Underweight from Neutral with a decreased price target of $30.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 6:38 pm

BTCUSD

Bitcoin's Wikipedia page saw a surge in pageviews, reaching 13,490 on Oct. 24, the highest level since mid-2022, amid a rally in Bitcoin prices and the likely approval of a spot Bitcoin ETF. Bitcoin prices surged 9% on Oct. 24 and have gained 20% in the past two weeks. The final approval for spot bitcoin ETF is expected before Jan. 10, 2024. The Bitcoin price rally has led to an influx in cryptocurrency investment products, with total inflow of $326 million in the last week, the highest in 15 months.

Portfolio Pulse from Khyathi Dalal

October 31, 2023 | 6:37 pm

SRPT

Sarepta Therapeutics' EMBARK Phase 3 study of Elevidys failed to meet the primary endpoint, leading to lowered price targets by Needham, RBC Capital, and Cantor Fitzgerald. Despite the trial miss, analysts believe Elevidys can maintain its existing label and continue marketing due to observed activity in key secondary endpoints. SRPT shares are down 40.3%.

Portfolio Pulse from Vandana Singh

October 31, 2023 | 6:35 pm

DHR

SYK

TMO

Shares of healthcare equipment and lifesciences tools are trading higher, possibly in sympathy with GE HealthCare's better-than-expected Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:34 pm

CDIO

GPN

GRTX

KTRA

SIEN

SPRC

WOLF

The Dow Jones index gained around 50 points on Tuesday, with real estate shares jumping by 1.3%. Global Payments Inc reported better-than-expected Q3 earnings, with adjusted net revenue rising 9% Y/Y to $2.232 billion. SciSparc Ltd, Cardio Diagnostics Holdings, and Wolfspeed, Inc saw their shares rise significantly. However, Kintara Therapeutics, Galera Therapeutics, and Sientra, Inc saw their shares drop due to various setbacks.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 6:32 pm