Streetbeat News

Stock Prices

QQQ

SPY

U.S. stocks are expected to extend gains as the Federal Reserve's two-day monetary policy meeting begins. Smid-cap earnings have been better than expected, triggering a strong upward move in premarket trading. However, sentiment towards mega-caps remains muted. The Dow Industrials posted its biggest one-day advance since early June, with the S&P 500 moving out of correction territory. Analysts from LPL Financial expect a strong job market, cooling inflation, the end of Fed rate hikes, stable interest rates, and growing corporate profits to keep the bull market going. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.24% and the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.08%.

Portfolio Pulse from Shanthi Rexaline

October 31, 2023 | 11:44 am

AAC

X-Energy Reactor Company and Ares Acquisition Corporation (AAC) have mutually agreed to terminate their business combination agreement. Consequently, the extraordinary general meeting of AAC shareholders scheduled for October 31, 2023, to approve the proposed transaction will be adjourned indefinitely. AAC anticipates that the last day of trading in the Public Shares will be November 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:43 am

SONN

Sonnet BioTherapeutics has completed a public offering of $4.55 million in October. The funds raised are expected to provide a cash runway into the third quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:42 am

HNI

HNI Corporation reported Q3 adjusted earnings of $0.93 per share, beating the analyst consensus estimate of $0.63 by 47.62%. However, the company's quarterly sales of $711.60 million missed the analyst consensus estimate of $712.89 million by 0.18%. The earnings represent a 30.99% increase from the same period last year, while the sales represent an 18.84% increase.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:32 am

JFBR

Jeffs' Brands has announced a 1-for-7 reverse share split. The company's Ordinary Shares will start trading on the Nasdaq Capital Market on a post-split basis from November 3, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:20 am

GRTX

Galera Therapeutics announced that its GRECO-2 trial did not pass the futility analysis, leading to the discontinuation of both GRECO trials. The company is now reviewing potential strategic alternatives to maximize shareholder value.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:17 am

AMGN

Amgen has updated its FY23 revenue forecast to $28B-$28.4B, up from the previous guidance of $26.6B-$27.4B and surpassing the consensus estimate of $27.54B.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:16 am

CRSP

Trading of CRISPR Therapeutics (CRSP) has been halted today as the FDA Advisory Committee is set to review the Biologics License Application (BLA) for Exagamglogene Autotemcel (exa-cel) in Sickle Cell Disease.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:15 am

NBIX

Neurocrine Biosciences has increased its FY23 Ingrezza net product sales guidance to $1.82B-$1.84B, up from the previous guidance of $1.77B-$1.82B.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:13 am

HAYW

Hayward Holdings has projected its FY23 net sales to be between $245M and $255M, which is significantly lower than the $310.97M estimate. This represents a decrease of 24%-26% from the prior year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:13 am