Streetbeat News

Stock Prices

LLAP

Trading of shares for Terran Orbital has been halted due to pending news. The nature of the news is not yet disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:59 pm

VHC

VirnetX Holding Corporation has filed a certificate of amendment to effect a 1-for-20 reverse stock split. The company's common stock will begin trading on a reverse-split-adjusted basis on the NYSE under the existing ticker symbol 'VHC' from October 26, 2023. The total number of authorized shares of common stock will remain unchanged at 100,000,000. Proportional adjustments will also be made to the number of shares of common stock issuable upon the exercise of the company's stock options, outstanding restricted stock units, and equity incentive plan.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:58 pm

MGNI

TTD

Shares of digital ad stocks are trading lower, possibly due to weakness in Meta Platforms Inc., which fell after reporting Q3 results.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:54 pm

Boeing Co (NYSE:BA) reported its Q3 results, with a narrowed loss and FCF usage of ($310M). The company lowered its 2023 737 delivery guidance to 375-400. Analysts from RBC Capital Markets, Morgan Stanley, and Goldman Sachs have maintained their ratings but adjusted their price targets. Boeing's shares rose by 2.69% to $182.51 after the announcement.

Portfolio Pulse from Priya Nigam

October 26, 2023 | 6:53 pm

EIS

SPY

USO

The Pentagon has reported that U.S. troops were attacked at least 12 times in Iraq and 4 times in Syria in the past week by Iran-affiliated groups. The news may have implications for ETFs like EIS (iShares MSCI Israel ETF), SPY (SPDR S&P 500 ETF Trust), and USO (United States Oil Fund).

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:52 pm

IBM

IBM had a strong Q3 with revenue of $14.752 billion, slightly above estimates. BMO Capital Markets and RBC Capital Markets analysts have reiterated their ratings but lowered their FY23 revenue and EPS estimates for IBM. The company's strategy of investing in growth areas and its FCF were highlighted positively. However, deceleration in Red Hat and margin challenges were noted as concerns. IBM shares are trading higher by 5.00% to $143.93.

Portfolio Pulse from Nabaparna Bhattacharya

October 26, 2023 | 6:48 pm

CPRX

Trading of Catalyst Pharmaceuticals (CPRX) shares has been halted due to pending news.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:47 pm

GLD

QQQ

SPY

TLT

UUP

The Bureau of Economic Analysis is set to release the Personal Consumption Expenditure (PCE) index for September, a key inflation metric watched by the Federal Reserve. Economists expect the headline PCE price index to rise 3.4% YoY and 0.3% MoM. The core PCE price index is forecasted to increase 3.7% YoY and 0.3% MoM. The market currently assigns a 98% probability to the Fed keeping rates unchanged in the upcoming meeting. However, higher PCE figures could increase the likelihood of a rate hike in December. Five ETFs that could be impacted are SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), iShares 20+ Year Treasury ETF (TLT), SPDR Gold Trust (GLD), and Invesco DB USD Index Bullish Fund ETF (UUP).

Portfolio Pulse from Piero Cingari

October 26, 2023 | 6:45 pm

ARQT

Mizuho analyst Uy Ear has downgraded Arcutis Biotherapeutics (NASDAQ:ARQT) from Buy to Neutral and lowered the price target from $57 to $4.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:43 pm

ABVC

BETS

EDR

SILC

SNOA

US stocks traded lower with the Nasdaq Composite falling more than 1%. Mastercard Inc reported better-than-expected earnings for its third quarter with net revenues at $6.53 billion, up 14% Y/Y. ABVC BioPharma shares shot up 170% after the company announced it entered into a term sheet to license the global rights of CNS drugs. Endeavor Group Holdings shares shot up 24% after the company announced a review of strategic alternatives. Impinj shares were up 20% after the company reported better-than-expected third-quarter revenue results. Bit Brother Limited shares dropped 79% as the company reported pricing of $5.04 million registered direct offering. Sonoma Pharmaceuticals shares were down 51% as the company announced pricing of $1.7 million public offering of 8.5 million shares of common stock. Silicom Ltd was down 34% after the company issued weak sales forecast for the fourth quarter.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 6:42 pm