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The U.S. Federal Reserve is expected to propose a review of the fees banks can charge retailers for debit card transactions. This could lead to a legal battle between the two industries. The fees, which have been criticized by retailers as disproportionately high, generated around $24.31 billion for lenders in 2019. The Retail Industry Leaders Association expects the Fed to propose lowering the caps. This news sent shares in credit card companies Visa and Mastercard lower.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:43 pm

MCO

Moody's Corp (NYSE:MCO) reported Q3 FY23 sales growth of 15% YoY to $1.472 billion, beating the analyst consensus estimate. Adjusted EPS of $2.43 beat the consensus of $2.30. The company held $2 billion in cash and equivalents as of September 30, 2023. Moody's reaffirmed FY23 adjusted EPS outlook of $9.75-$10.25. MCO shares are trading higher by 4.30% at $318.76.

Portfolio Pulse from Shivani Kumaresan

October 25, 2023 | 4:37 pm

BYD

MGM

PENN

Gaming and casino stocks are trading lower following mixed quarterly results reported by Boyd. MGM and PENN may also be affected.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:36 pm

SPY

TLT

The Bureau of Economic Analysis (BEA) is set to release its Q3 GDP estimates for the U.S., with expectations of a robust growth rate of 4.3%. Goldman Sachs and Atlanta Fed predict even higher growth rates of 4.6% and 5.4% respectively. The primary driver of this economic upswing is anticipated to be consumer expenditure. Previous GDP announcements have impacted the SPDR S&P 500 ETF Trust (SPY) and the iShares 20+ Year Treasury Bond ETF (TLT).

Portfolio Pulse from Piero Cingari

October 25, 2023 | 4:35 pm

GPS

Gap's shares are trading higher following an upgrade from Wells Fargo, which changed its rating from Equal-Weight to Overweight.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:33 pm

PYPL

SQ

UPST

Fintech and payments stocks, including PYPL, SQ, and UPST, are trading lower, possibly in sympathy with Worldline SA, which has cut its financial outlook.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:33 pm

GM

A significant investor has taken a bearish stance on General Motors (NYSE:GM), with 53% of recent trades being bearish and 46% bullish. The majority of these trades are puts, totaling $605,692, compared to calls totaling $156,926. Whales have been targeting a price range of $25.0 to $45.0 for GM over the last 3 months. The current price of GM is $28.65, up 0.32%. Analysts have mixed opinions, with CFRA and Benchmark rating it as 'Sell' and 'Buy' respectively, and Goldman Sachs, Barclays, and Citigroup maintaining their 'Buy' ratings.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 4:31 pm

FCX

A significant amount of unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is between $28.0 and $47.0. The current price of FCX is down -0.64% at $34.2. Analysts from Morgan Stanley and BMO Capital have maintained their ratings on FCX, while JP Morgan has downgraded its action to Neutral.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 4:31 pm

AMZN

GOOGL

META

SNAP

Snap Inc's Q3 revenue beat expectations and the company announced a stock buyback. However, shares were trading lower due to growth concerns. Analysts from RBC Capital Markets, BofA Securities, Truist Securities, and Benchmark maintained neutral ratings, citing concerns about the company's growth rate and profitability. They also noted that Snap is more vulnerable than larger ad platforms like Alphabet, Meta Platforms, and Amazon.

Portfolio Pulse from Priya Nigam

October 25, 2023 | 4:30 pm

INTC

Raymond James has maintained an Outperform rating on Intel's stock but has lowered its price target from $42 to $40. This has resulted in Intel's shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:27 pm