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WDC

Western Digital and Kioxia have reportedly ended merger talks, according to a Nikkei report. Additionally, Western Digital's stock is under pressure following Seagate's Q1 revenue miss.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:28 pm

EME

EMCOR Group reported better-than-expected Q3 financial results and raised its FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:28 pm

MAT

Mattel's Q3 financial results have led to a decrease in its share price. Morgan Stanley has maintained an Overweight rating on the stock but reduced its price target from $27 to $25.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:27 pm

FCFS

FirstCash Holdings reported better-than-expected Q3 financial results and issued optimistic Q4 and FY23 retail sales guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:25 pm

SAVE

Spirit Airlines Inc (NYSE:SAVE) reported Q3 FY23 revenue of $1,259 million, a 6.3% Y/Y decline but beating the consensus of $1,258 million. Adjusted EPS loss of $(1.37) also beat the consensus of $(1.48). Passenger revenues fell 6.7% Y/Y to $1,234 million, while other revenue rose 16.7% Y/Y to $24.6 million. The company warned that higher fuel prices and NEO engine availability issues are expected to lower Q4 margins. Spirit's shares are trading lower by 4.59% at $16.01.

Portfolio Pulse from Lekha Gupta

October 26, 2023 | 3:22 pm

MPW

Medical Properties Trust Inc's shares surged by around 15% after reporting Q3 FY23 earnings. The company reported revenues of $306.6 million, missing the consensus of $341.8 million. However, it revised its 2023 NFFO per share guidance to $1.56-$1.58 from $1.53-$1.57 earlier. The company also noted strong and consistent rent coverage for Circle Health's 36 facilities leased from it across the U.K.

Portfolio Pulse from Lekha Gupta

October 26, 2023 | 3:21 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

Meta Platforms Inc reported strong earnings, but the stock fell due to market mechanics and economic uncertainty. The company's stock fell as it pointed out that Meta is an advertising business and the economic environment is uncertain. The stock market's reaction to Meta's earnings is similar to its reaction to Alphabet's earnings. The economy is running hot with Q3 GDP-Adv at 4.9% vs. 4.7% consensus and durable orders at 4.7% vs. 1.5% consensus. Money flows are positive in Meta but negative in Apple, Amazon, Alphabet, Microsoft, NVIDIA, and Tesla. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 26, 2023 | 3:20 pm

HTZ

Hertz Global Holdings Inc reported Q3 2023 revenue growth of 8% Y/Y to $2.703 billion, beating consensus estimates. However, the company's adjusted EPS of 70 cents missed the consensus of $0.76. Revenues from Americas RAC segment and International RAC increased by 6% and 17% respectively. The company also saw growth in its rideshare business. Despite these, HTZ shares are trading lower by 14.4%.

Portfolio Pulse from Anusuya Lahiri

October 26, 2023 | 3:18 pm

BPOP

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 3:17 pm

SCHW

A significant investor has taken a bearish stance on Charles Schwab (NYSE:SCHW), with 100% of recent unusual trades being bearish. The trades include 3 puts and 7 calls, with a total value of $691,335. The targeted price range for Charles Schwab over the last 3 months is $45.0 to $60.0. The current price of SCHW is up 4.42% at $51.55. Analysts from JP Morgan, Barclays, Morgan Stanley, and JMP Securities have maintained their ratings on Charles Schwab, with price targets ranging from $55 to $85.

Portfolio Pulse from Benzinga Insights

October 26, 2023 | 3:17 pm