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GTX

Garrett Motion Inc. reported Q3 FY23 sales of $960 million, missing the Street expectation of $995 million. However, its quarterly EPS of 23 cents beat the consensus of $0.22. The company benefitted from foreign currency translational impacts and the ramp-up of new products. The company lowered its full-year 2023 outlook, expecting sales in the range of $3.83 billion-$3.90 billion versus the estimate of $4 billion. GTX shares are trading 5.70% higher at $7.60.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 2:30 pm

FL

JP Morgan analyst Matthew Boss has downgraded Foot Locker (NYSE:FL) from Neutral to Underweight and announced a $17 price target.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:28 pm

SHW

Sherwin-Williams Company (NYSE:SHW) reported Q3 FY23 sales growth of 1.1% YoY to $6.117 billion, beating the analyst consensus estimate. The increase was driven by selling price increases. Adjusted EPS of $3.20 beat the consensus estimate of $2.77. The company raised its FY23 adjusted EPS outlook from $9.30 - $9.70 to $10.10 - $10.30, above the consensus of $9.83. SHW shares are trading higher by 1.51% at $242.24.

Portfolio Pulse from Shivani Kumaresan

October 24, 2023 | 2:27 pm

BMY

LIAN

LianBio (NASDAQ:LIAN) has entered into an agreement with Bristol Myers Squibb (NYSE:BMY) to sell its exclusive rights to develop and commercialize mavacamten in several Asian territories. LianBio will receive a one-time payment of $350 million and will be released from payment obligations of up to $127.5 million under the MyoKardia license agreement. Shares of LIAN surged following the announcement.

Portfolio Pulse from Erica Kollmann

October 24, 2023 | 2:24 pm

BMY

LIAN

LianBio has entered into an agreement with Bristol Myers Squibb to market mavacamten in China and other Asian markets. This has led to an increase in LianBio's share price.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:24 pm

CLSK

Shares of CleanSpark Inc (NASDAQ:CLSK) are trading higher by 17.7% after Bitcoin reached $35,000 for the first time since 2022. The rise in Bitcoin's price increases the profitability of cryptocurrency mining, potentially increasing demand for CleanSpark's services. The anticipation of a potential Bitcoin ETF, which suggests greater institutional interest in cryptocurrencies, could also attract more investors to the cryptocurrency market, further increasing demand for CleanSpark's services.

Portfolio Pulse from Henry Khederian

October 24, 2023 | 2:21 pm

INM

InMed Pharmaceuticals Inc (NASDAQ:INM) shares soared after the company announced it has selected a lead Alzheimer's drug candidate following positive proof-of-concept study data. The company's INM-901 demonstrated unique pharmacological effects in Alzheimer's disease in preclinical studies. The company now plans to advance the Alzheimer's candidate into its pharmaceutical drug development program.

Portfolio Pulse from Adam Eckert

October 24, 2023 | 2:20 pm

INM

InMed Pharmaceuticals has announced the selection of a lead Alzheimer's drug candidate following proof-of-concept study data, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:19 pm

AVGO

A significant bearish stance on Broadcom (NASDAQ:AVGO) has been observed through unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $860.0 to $1080.0 for Broadcom over the last 3 months. The price of AVGO is up 1.1% at $871.72, with RSI indicators suggesting the stock may be approaching overbought. Next earnings are expected in 44 days.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 2:16 pm

NKE

A significant bullish stance on Nike (NYSE:NKE) has been observed, with a large position appearing in publicly available options history. Benzinga's options scanner spotted 11 options trades for Nike, with sentiment split between 54% bullish and 45% bearish. Whales have been targeting a price range from $97.5 to $110.0 for Nike over the last 3 months. Several financial institutions have maintained or upgraded their ratings on Nike, with price targets ranging from $92 to $137.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 2:16 pm