Streetbeat News

Stock Prices

RMBS

Rambus Inc. (NASDAQ:RMBS) has announced that its HBM3 Memory Controller IP now delivers up to 9.6 Gigabits per second (Gbps) performance, a 50% increase over the HBM3 Gen1 data rate of 6.4 Gbps. This enhancement supports the continued evolution of the HBM3 standard and enables a total memory throughput of over 1.2 Terabytes per second (TB/s) for training of recommender systems, generative AI and other demanding data center workloads.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:28 pm

ALRS

Alerus Financial Corp. (NASDAQ:ALRS) reported Q3 earnings of $0.45 per share, beating the analyst consensus estimate of $0.36 by 25%. However, this is a 16.67% decrease from the same period last year. The company also reported quarterly sales of $48.80 million, beating the analyst consensus estimate of $47.73 million by 2.25%, but this is a 11.79% decrease from the same period last year.

Portfolio Pulse from bharat@benzinga.com

October 25, 2023 | 9:25 pm

AMZN

GOOGL

META

NVDA

QQQ

QQQE

SPY

The Nasdaq 100 Index experienced its worst session of 2023, losing 2.5% in a day and nearing correction territory with a 9.8% drop since its annual peak. This was driven by significant contributors including Alphabet, Amazon, Nvidia, and Meta Platforms. The equally weighted index, tracked by the Direxion Nasdaq 100-Equal Weighted Index Shares, also declined by 2.3%. The S&P 500 index, tracked by the SPDR S&P 500 ETF Trust, has already broken below its threshold, indicating broader market challenges.

Portfolio Pulse from Piero Cingari

October 25, 2023 | 9:24 pm

GM

TSLA

General Motors (GM) is facing financial pressure due to ongoing UAW strikes, with analysts predicting a multi-million dollar meltdown. Mizuho analyst Vijay Rakesh has lowered the price target for GM from $40 to $38, citing an EV ramp and UAW concessions pressuring margins. GM reported a 5.4% YoY sales growth in Q3 FY23 to $44.13 billion, beating the consensus estimate. However, a $200 million impact from the UAW strike weighed on margins. GM's net margin in SepQ was 6.9% with EV volume mix at ~3% vs. Tesla's net margins at 8%. Benchmark analyst Michael P. Ward reiterated a Buy rating on GM with a price target of $60.00.

Portfolio Pulse from Nabaparna Bhattacharya

October 25, 2023 | 9:21 pm

NLSP

NLS Pharmaceutics has received a Nasdaq minimum bid price notification, indicating that the company's stock has not met the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:18 pm

VMI

Valmont Industries has updated its FY23 EPS outlook from $14.80-$15.35 to $14.80-$15.10. The company has also revised its net sales growth outlook from 0% to 2% to a decrease of 3% to 4%. The changes are due to Q3 sales and diluted earnings per share results, the expected timing of international agriculture project shipments, and the near-term demand outlook for telecommunications markets. The company expects full-year operating margin improvement compared to 2022 and capital expenditures in the range of $100 to $110 million to support strategic growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:18 pm

OII

Oceaneering International, Inc. (OII) has projected its FY24 consolidated EBITDA to be between $330M and $380M, with free cash flow generation expected to surpass that of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:12 pm

PI

Impinj (NASDAQ:PI) reported Q3 sales of $65.00 million, beating the analyst consensus estimate of $64.75 million by 0.39 percent. However, this represents a 4.78 percent decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:07 pm

MPC

The correct ticker symbol for Marathon Petroleum is 'MPC', not 'MP'.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:06 pm

TER

Teradyne (NASDAQ:TER) reported Q3 adjusted earnings of $0.80 per share, beating the analyst consensus estimate of $0.73 by 9.59%. However, this is a 30.43% decrease from the same period last year. The company also reported quarterly sales of $703.73 million, beating the analyst consensus estimate of $684.58 million by 2.80%, but this is a 14.91% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:05 pm