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Stock Prices

AMZN

Amazon shares are trading lower due to weakness in large-cap tech stocks, in sympathy with Alphabet. The stock may also be under pressure due to cloud competition concerns from Microsoft.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 6:33 pm

SPOT

Spotify Technology SA (NYSE:SPOT) reported a Q3 profit, with revenue growth of 11% YoY to $3.65 billion, beating the consensus of $3.34 billion. EPS of $0.36 also beat the consensus loss of $(0.22). However, shares fell 5.5% to trade at $161.28. Several analysts, including Raymond James, Keybanc, Morgan Stanley, Benchmark, Barclays, and Truist Securities, raised their price targets on Spotify following the earnings announcement.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 6:32 pm

COST

A significant investor has taken a bearish stance on Costco Wholesale (NASDAQ:COST), with 63% of recent trades being bearish. The trades range from $500.0 to $590.0. The current price of COST is down -0.32% at $550.08. Analysts from JP Morgan, Telsey Advisory Group, B of A Securities, and DA Davidson have maintained their ratings on Costco, with price targets ranging from $570 to $620.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 6:30 pm

ALB

LTHM

Piper Sandler analyst Charles Neivert downgraded Albemarle Corp (ALB) and Livent Corp (LTHM) to Neutral from Overweight, citing challenges in EV manufacturing and demand that may degrade lithium's supply-demand dynamics. The analyst also lowered ALB's price target to $155 from $255 and LTHM's to $19 from $33. He expects lithium prices to remain under pressure and weigh on earnings growth.

Portfolio Pulse from Lekha Gupta

October 25, 2023 | 6:29 pm

GE

General Electric Co (NYSE:GE) reported Q3 FY23 revenues of $17.3 billion, a 20% YoY increase, and adjusted EPS of $0.82, beating the consensus of $0.56. The company plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. GE also revised its FY23 adjusted EPS forecast to $2.55-$2.65 from $2.10-$2.30. Despite the positive earnings, GE shares fell 1.4% to $112.03. Barclays and RBC Capital increased their price targets on GE following the earnings announcement.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 6:23 pm

F

Ford Motor Company (NYSE:F) is set to report its Q3 financial results. Analysts expect a revenue of $41.22 billion and earnings per share of 45 cents. The ongoing UAW strike and its impact on Ford's stock price, as well as the company's electric vehicle sales and margins, are key points of interest. Analysts from RBC Capital, Morgan Stanley, and UBS have given their ratings and price targets for Ford's stock.

Portfolio Pulse from Chris Katje

October 25, 2023 | 6:22 pm

GOOGL

Communication services stocks are trading lower due to negative market sentiment following Alphabet's Q3 earnings report.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 6:20 pm

DHR

Danaher Corporation reported better-than-expected Q3 results with an adjusted EPS of $2.02, down from $2.56 a year ago, and sales of $6.87 billion, a decrease of 10.5% Y/Y. Despite beating consensus estimates, Danaher shares fell 2.4%. Following the earnings announcement, analysts from Keybanc, Citigroup, Raymond James, and RBC Capital lowered their price targets on Danaher.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 6:18 pm

REE

REE Automotive Ltd. (NASDAQ:REE) has announced that its initial order book value has doubled since late August 2023 to approximately $40 million. This increase is due to a recent binding order by Midwest Transit Equipment (MTE), a leading bus dealer in the US, which is entering the commercial electric truck market with the Powered by REE™ P7-C.

Portfolio Pulse from Charles Gross

October 25, 2023 | 6:16 pm

SNOW

A significant number of investors have taken a bearish stance on Snowflake (NYSE:SNOW), with 66% of detected trades showing bearish expectations. The targeted price range for Snowflake over the last 3 months is from $120.0 to $250.0. The current price of SNOW is down -5.2% at $143.26. Mizuho and B of A Securities have downgraded their actions on Snowflake, while Piper Sandler maintains their Overweight rating.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 6:16 pm