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STM

STMicroelectronics has projected its 4Q23 net revenues to be $4.3 billion, down by 3% sequentially, which is lower than the consensus estimate of $4.4 billion. The company also expects a gross margin of 46%. The outlook is based on an assumed effective currency exchange rate of $1.08 = €1.00 for the 2023 fourth quarter and includes the impact of existing hedging contracts.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:26 am

TSLA

Tesla Inc (NASDAQ:TSLA) saw its market share in the UK drop in September compared to a year ago, with its Model Y slipping out of the top ten bestseller cars list. According to the Society of Motor Manufacturers and Traders (SMMT), only 6,427 new Tesla vehicles were registered last month, a 35.6% slump from the 9,975 vehicles registered in September 2022. However, the Model Y remains on the year-to-date bestseller list at the fourth position.

Portfolio Pulse from Anan Ashraf

October 26, 2023 | 4:47 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies traded mixed with Bitcoin dominance rising to a new 30-month high. Bitcoin hovered around the $34,600 mark, breaching the $35,000 level intraday. Ethereum was in the red, while Dogecoin surged. Bitcoin's dominance rate rose to 54.4%, the highest since April 2021. Edward Moya, a Senior Market Analyst with OANDA, said the short-term bull case for Bitcoin will remain intact until there is more clarity on the US spot Bitcoin ETF. Market intelligence platform Santiment noted that Bitcoin's 2-year reliance on equities is gone, a typical recipe for bull market conditions.

Portfolio Pulse from Shivdeep Dhaliwal

October 26, 2023 | 2:57 am

AMD

AMZN

F

META

NVDA

U.S. stocks showcased a downward trend on Wednesday with the Dow Jones index declining by 0.32% and the NASDAQ falling by 2.43%. The top stocks that gained the attention of retail traders and investors throughout the day were Meta Platforms, Amazon, Nvidia, AMD, and Ford. Meta Platforms reported a 23% YoY increase in its Q3 revenue. Amazon's stock saw a significant drop of 5.58%. Nvidia's stock performance was down by 4.31% due to U.S. Government's immediate export restrictions on several of its products. AMD's stock declined by 5.52% due to potential supply chain issues. Ford's stock rose by 1.32% as it reached a tentative agreement to end labor strikes.

Portfolio Pulse from Benzinga Neuro

October 26, 2023 | 1:57 am

VRNOF

Verano Holdings Corp. has launched Savvy Threads, a limited-edition streetwear and e-commerce platform that celebrates the company’s cannabis brand imagery. The collection includes exclusive apparel inspired by popular Verano genetics. The launch of Savvy Threads complements the expanding Savvy cannabis product portfolio. Verano’s shares traded 2.9668% lower at $4.0948 per share after the market close on Tuesday.

Portfolio Pulse from Jelena Martinovic

October 25, 2023 | 11:38 pm

MSOS

U.S. Rep. Mike Johnson's election as the House Speaker is seen as a setback for cannabis reform bills, including the SAFER Banking Act. Johnson has consistently voted against cannabis-related legislation. This development could impact the optimism around the SAFER Banking Act, which was expected to provide financial services access to state-legal cannabis companies. The AdvisorShares Trust AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) is down 13% year-to-date, reflecting the sector's volatility.

Portfolio Pulse from Maureen Meehan

October 25, 2023 | 10:35 pm

VRNOF

Verano Holdings Corp. has begun trading on Canada's Neo Exchange Inc., operated by Cboe Canada, as part of its strategy to gain entry into the U.S. market. The company's leaders highlighted the robustness of the NEO and the backing of Cboe as key factors in their decision. They also noted that the move offers a more direct route to U.S. exchange status once the regulatory landscape becomes favorable.

Portfolio Pulse from Patricio Liddle

October 25, 2023 | 10:29 pm

VRE

Veris Residential (NYSE:VRE) reported Q3 earnings of $0.12 per share, a 20% decrease YoY. However, the company's quarterly sales of $71.48 million beat the analyst consensus estimate of $69.27 million by 3.19%. This is a 21.75% decrease over sales of $91.36 million the same period last year.

Portfolio Pulse from totan@benzinga.com

October 25, 2023 | 10:01 pm

UCTT

Ultra Clean Hldgs (NASDAQ:UCTT) reported Q3 earnings of $0.04 per share, missing the analyst consensus estimate of $0.10 by 60%. The company's quarterly sales were $435.00 million, missing the analyst consensus estimate of $436.64 million by 0.38%. This represents a 96.23% decrease in earnings and a 31.50% decrease in sales compared to the same period last year.

Portfolio Pulse from totan@benzinga.com

October 25, 2023 | 10:00 pm

FBMS

First Bancshares (NASDAQ:FBMS) reported Q3 earnings of $0.76 per share, missing the analyst consensus estimate of $0.79 by 3.8%. This is a 10.59% decrease from the same period last year. The company also reported quarterly sales of $60.70 million, missing the analyst consensus estimate of $65.37 million by 7.14%. However, this is a 23.51% increase from the same period last year.

Portfolio Pulse from totan@benzinga.com

October 25, 2023 | 9:58 pm