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GDDY

SQSP

WIX

Seaport analyst Aaron Kessler initiated coverage of GoDaddy Inc (GDDY), Wix.Com Ltd (WIX), and Squarespace, Inc (SQSP) with a Buy rating. Kessler expects continued momentum in Applications & Commerce for GoDaddy, Creative Subscriptions strength for Wix, and Presence momentum from new customers for Squarespace. He also projected Q3 revenues and EPS for all three companies.

Portfolio Pulse from Anusuya Lahiri

October 24, 2023 | 6:46 pm

BLK

BTCUSD

BlackRock's anticipated Bitcoin ETF, IBTC, has unexpectedly disappeared from the DTCC website and the Bloomberg terminal, causing a 3% drop in Bitcoin's price. This comes ahead of Benzinga's Future of Digital Assets conference. Meanwhile, the SEC has been asked to reconsider Grayscale’s application for a Bitcoin ETF, and data from the CME shows growing institutional interest in Bitcoin.

Portfolio Pulse from Murtuza Merchant

October 24, 2023 | 6:46 pm

PBR

A large investor has taken a bullish stance on Petrobras Brasileiro (NYSE:PBR), as evidenced by a significant position in the company's options. The overall sentiment of these big-money traders is 80% bullish and 20% bearish. The whales have been targeting a price range from $12.0 to $20.0 for Petrobras Brasileiro over the last 3 months. The price of PBR is currently up 0.52% at $15.43.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 6:45 pm

GM

General Motors Co (GM) shares hit a new 52-week low, falling by 1.6% to $28.74. The drop is attributed to the company's third-quarter earnings report and the suspension of permits for its driverless-car technology arm, Cruise, in California due to safety concerns. Despite reporting strong third-quarter sales with a 5.4% YoY increase, costs and expenses for the quarter rose by 6.8% YoY.

Portfolio Pulse from Henry Khederian

October 24, 2023 | 6:45 pm

AGYS

INM

KO

LIAN

MKFG

TBI

TRU

US stocks traded higher with the Dow Jones index gaining over 200 points and NASDAQ rising 0.78%. Coca-Cola (KO) reported better-than-expected Q3 results and raised its full-year guidance. InMed Pharmaceuticals (INM), Agilysys (AGYS), and LianBio (LIAN) saw significant stock increases. TrueBlue (TBI), TransUnion (TRU), and Markforged Holding (MKFG) experienced stock decreases due to weaker-than-expected Q3 results and lowered guidance.

Portfolio Pulse from Lisa Levin

October 24, 2023 | 6:34 pm

BITX

BTCUSD

The U.S. Securities and Exchange Commission (SEC) is currently reviewing proposals for spot market Bitcoin ETFs. Crypto ETF expert Stuart Barton predicts that all applications will be approved together. There are currently 12 spot-Bitcoin ETF applications from various companies including Grayscale, 21Shares & Ark, BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Galaxy, Fidelity, Valkyrie, Global X, Hashdex and Franklin. JPMorgan believes the approval is likely to happen within months.

Portfolio Pulse from Khyathi Dalal

October 24, 2023 | 6:33 pm

GSK

GSK Inc.'s share price is currently at $35.85, marking a 0.15% increase in the current market session. Despite a 3.82% decrease over the past month, the stock has seen a 9.68% increase over the past year. The company's P/E ratio, a measure of current share price to the company's EPS, is 11.63, lower than the aggregate P/E ratio of 31.85 in the Pharmaceuticals industry. This could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 6:30 pm

RVMD

Revolution Medicines' stock is trading higher following a potential rebound. The stock had previously fallen after the company announced clinical activity and safety data from its Phase 1/1b trial of RMC-6236.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 6:25 pm

RBLX

Stifel analyst Drew E. Crum has reiterated a Buy rating on Roblox Corporation (RBLX) with a price target of $41. The company is set to report its Q3 2023 financial results on November 8, 2023. Despite losing nearly 20% of its market cap since Q2 results, the analyst sees potential catalysts in Q3 earnings and an upcoming investor day. Crum expects a 17% YoY increase in Q3 revenue to $824 million, with higher DAUs and lower monetization. The analyst also predicts an AEBITDA margin of 4.8%, which would be the lowest for Roblox as a public company, but anticipates improvement going forward.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 6:21 pm

GOOG

META

PINS

Seaport analyst Aaron Kessler initiated coverage of Alphabet Inc (GOOG), Meta Platforms Inc (META), and Pinterest, Inc (PINS). He gave a Neutral rating to Alphabet, a Buy rating to Meta with a price target of $365, and a Buy rating to Pinterest with a target of $33. He expects modestly improving ad growth for Alphabet in the second half of 2024, accelerating ad growth for Meta and Pinterest in the same period.

Portfolio Pulse from Anusuya Lahiri

October 24, 2023 | 6:17 pm