Streetbeat News

Stock Prices

BYDDF

FXI

NIO

TSLA

VGK

XPEV

Fitch Ratings reports that rising regulatory risks in the EU may hamper the strategy of some global automakers to sell China-made new energy vehicles in the region. This could affect companies like BYD Co Ltd (BYDDF), iShares China Large-Cap ETF (FXI), Li Auto Inc. (LI), NIO Inc. (NIO), Tesla Inc. (TSLA), Vanguard FTSE Europe ETF (VGK), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

October 30, 2023 | 10:19 am

ANF

HMC

LIAN

OLPX

SAND

SAVE

Several big stocks recorded losses in Monday's pre-market trading session. Olaplex Holdings shares fell 4.8% ahead of its Q3 2023 financial results. ArcelorMittal shares declined 4.2% following a fatal accident at its coal mine in Kazakhstan. Spirit Airlines shares fell 3.7% after posting a narrower-than-expected Q3 loss. LianBio shares declined 3.3%, Sandstorm Gold shares fell 3.2% ahead of its Q3 2023 results, Abercrombie & Fitch shares fell 3.2%, and Honda Motor shares declined 1.9% after announcing a driverless taxi service in Japan.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 10:11 am

TPST

Tempest Therapeutics has regained compliance with Nasdaq's $1.00 minimum price rule, according to a formal notification from Nasdaq on October 26, 2023.

Portfolio Pulse from Charles Gross

October 30, 2023 | 10:10 am

XPO

XPO Logistics reported Q3 adjusted earnings of $0.88 per share, beating the analyst consensus estimate of $0.63 by 39.68%. However, this is a 39.31% decrease from the same period last year. The company also reported quarterly sales of $1.98 billion, beating the estimate of $1.93 billion by 2.59%, but this is a 34.91% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 10:04 am

BTCUSD

HTZ

The Department of Defense plans to develop a new variant of the B61 gravity bomb, signaling a resurgence in US nuclear weapons production. Hertz Global Holdings Inc reported that costs associated with Tesla EVs have negatively impacted the company’s EBITDA. Bitcoin surged over 14% and hit fresh yearly highs at $35,000, despite the Nasdaq’s slump. The U.S. and China are working towards a high-level meeting between President Joe Biden and Chinese leader Xi Jinping. Gold closed the week at $2,016.30 an ounce, up 0.89% from the previous session.

Portfolio Pulse from Benzinga Neuro

October 30, 2023 | 10:03 am

Toyota Motor Corporation (NYSE:TM) reported that its global production remained flat in September at 1.037 million vehicles, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd. However, worldwide sales, including subsidiaries, grew 10.5% to 1.003 million units. Year-to-date, total sales increased 6.5% to 8.27 million vehicles, and production rose 8.2% to 8.51 million units. The company attributed the growth in sales and production in the first half of FY24 to the easing impact of semiconductor shortages.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 9:56 am

AAPL

KeyBanc Capital Markets analyst Brandon Nispel maintains a Sector Weight rating for Apple Inc. (NASDAQ:AAPL), predicting the company's declining revenue trend to continue into the holiday quarter of fiscal year 2024. Nispel cites lower upgrade rates and postpaid phone gross additions, competitive pressure in China, a stronger dollar, and the need for increased capital expenditure in AI as reasons for his outlook. He expects a 5% YoY decline in hardware revenue in the holiday quarter.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 9:44 am

FXI

Over the weekend, more than 30 Chinese-listed companies announced plans to buy back and purchase shares. This move is seen as an attempt to stabilize the market.

Portfolio Pulse from Charles Gross

October 30, 2023 | 9:41 am

VLY

JP Morgan analyst Steven Alexopoulos has downgraded Valley National (NASDAQ:VLY) from Overweight to Neutral and lowered the price target from $11 to $10.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:35 am

OLN

JP Morgan analyst Jeffrey Zekauskas has downgraded Olin (NYSE:OLN) from Overweight to Neutral and lowered the price target from $75 to $48.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:23 am