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DIS

DKNG

PDYPY

PENN

DraftKings Inc (NASDAQ:DKNG) is set to report its Q3 financial results. Analysts expect a revenue of $685.21 million and a loss of 70 cents per share. The company had beaten revenue and earnings estimates for seven and six straight quarters respectively. Morgan Stanley and Bank of America analysts expect a Q3 beat and strong 2024 guidance. Needham analyst Bernie McTernan shared NFL weekly data and app store rankings, indicating a mixed performance. The upcoming launch of ESPN Bet, backed by PENN Entertainment Inc (NASDAQ:PENN) and Walt Disney Co(NYSE:DIS), could pose competition.

Portfolio Pulse from Chris Katje

October 30, 2023 | 5:25 pm

AMZN

GOOG

MSFT

Alphabet's Q3 revenue returned to double-digit growth, but its stock dropped as cloud revenue fell short. Alphabet has committed to a $2 billion investment in AI startup, Antropic, following Amazon's $4 billion investment. Alphabet's cloud business grew 22% YoY and turned from last year’s operating loss to an operating profit of $266 million. However, it still lags behind Microsoft's Azure and Amazon's AWS.

Portfolio Pulse from Upwallstreet

October 30, 2023 | 5:25 pm

GSK

GSK plc has released results from a phase 3 trial of Jemperli, a drug for endometrial cancer, showing a significant and clinically meaningful benefit in overall survival rates. The trial met its primary endpoint of overall survival, with benefits observed in both prespecified subpopulations. The drug is already approved for a subset of patients with endometrial cancer. GSK shares are up 2.01% at $35.26.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 5:23 pm

INTC

ON Semiconductor Corp's Q3 FY23 revenue declined by 0.5% YoY to $2.18 billion, beating the consensus of $2.15 billion. However, the company's adjusted gross margin and operating margin declined. The company expects Q4 adjusted revenue of $1.95 billion - $2.05 billion, below the consensus of $2.18 billion. Following the announcement, ON Semiconductor shares fell by 19.80%.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 5:18 pm

IONQ

Morgan Stanley has maintained an Equal-Weight rating on IonQ's stock but has lowered its price target from $16 to $12. This has resulted in IonQ's shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:17 pm

GLCNF

Glencore PLC has reported a decrease in its own sourced copper, zinc, and nickel production for the nine months ended FY23. The company has also cut its FY23 nickel production outlook and Ferrochrome outlook. Despite these reductions, Glencore expects its full-year 2023 Adjusted EBIT outcome to be above the top end of its long-term guidance range. The company's shares traded higher by 1.87% at $5.45 on Friday.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 5:16 pm

NGG

National Grid Inc.'s (NYSE:NGG) stock price is currently at $59.83, after a 0.08% drop. However, the stock has increased by 3.96% over the past month and by 8.78% over the past year. The company's P/E ratio of 13.41 is lower than the Multi-Utilities industry average of 19.84, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 5:15 pm

BYDDY

NIO

TSLA

XPEV

Ford Motor (NYSE:F) reported Q3 profit of $1.2 billion, up from a loss of $827 million YoY, with revenue increasing 11% to $44 billion. However, its EV unit lost $1.3 billion, double the loss from the previous year. Ford also reached an agreement with the UAW, which will cost the company $8.1 billion in new plant investments and other economic costs. This has led Ford to withdraw its 2023 guidance and postpone $12 billion in EV investment. The company's position is further weakened against Tesla (NASDAQ:TSLA), which also faces challenges from Chinese competitors BYD (OTC:BYDDY), Xpeng (NYSE:XPEV), Li Auto (NASDAQ:LI), and Nio (NYSE:NIO).

Portfolio Pulse from Upwallstreet

October 30, 2023 | 5:11 pm

BABA

NTES

China's cyberspace regulator has penalized Alibaba's Quark platform and NetEase's livestream platform Netease CC for hosting and promoting vulgar content. Alibaba was fined 0.5 million yuan ($68,342.42), while Netease CC was instructed to suspend some types of dance content for seven days. This comes after Alibaba was penalized a record 18 billion yuan in 2021 for antitrust violations and a 7.12 billion yuan ($984 million) penalty was imposed on Ant Group in 2023.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 5:11 pm

CSCO

DDOG

GOOG

GOOGL

MSFT

SPLK

Wells Fargo analyst Andrew Nowinski downgraded Datadog Inc (DDOG) from Overweight to Equal-Weight and lowered the price target from $120 to $95. The downgrade is based on cost optimization trends, FY24 consensus revenue estimates not aligning with management's historical guidance trends, Datadog's potential to gain share following Cisco Systems' acquisition of Splunk Inc, and Datadog's new AI-based solutions. Nowinski projects Q3 revenue of $523 million vs. consensus $524.16 million and EPS of $0.34.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 5:09 pm