Streetbeat News

Stock Prices

ERO

Ero Copper announced that its Tucumã project has achieved over 70% physical completion and is on track for its first copper production in H2 2024. The company also confirmed its project capital expenditures outlook of about $305M.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:50 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) reported disappointing Q3 results, with a lower-than-expected core margin of 16.3% and an operating margin drop of 2 percentage points. Analyst Gordon Johnson of GLJ Research reiterated his bearish view on the stock, citing underwhelming demand for the Cybertruck and refreshed Model 3. He also noted that Tesla's growing cash balance was mainly driven by a $2.1 billion increase in debt. Following the news, Tesla's stock fell 5.07% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

October 19, 2023 | 10:45 am

FTNT

Jefferies analyst Joseph Gallo has downgraded Fortinet (NASDAQ:FTNT) from Buy to Hold and lowered the price target from $85 to $65.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:42 am

NFLX

Netflix reported better-than-expected Q3 sales results, issued guidance, and raised some subscription prices, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:39 am

SPY

USO

On October 18, U.S. stock markets ended lower due to rising Treasury yields and investor assessments of recent corporate earnings and forecasts. The Dow Jones Industrial Average declined by 0.98%, the S&P 500 dipped 1.34%, and the Nasdaq Composite fell by 1.62%. Asian and European markets also experienced declines, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and the European STOXX 600 index all closing lower. Crude Oil WTI was trading lower by 1.65% at $85.83/bbl, and Brent was down 1.81% at $89.84/bbl.

Portfolio Pulse from Akanksha Bakshi

October 19, 2023 | 10:39 am

FL

Goldman Sachs analyst Kate McShane has downgraded Foot Locker (NYSE:FL) from Neutral to Sell and set a price target of $18.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:37 am

IIIN

Insteel Industries (IIIN) remains cautiously optimistic for FY24 despite a challenging FY23. The company expects the Infrastructure Investment and Jobs Act to drive demand. However, it is aware of risks associated with higher interest rates and a potential slowdown in nonresidential building construction.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:34 am

KEY

KeyCorp (NYSE:KEY) reported Q3 earnings of $0.29 per share, beating the analyst consensus estimate of $0.27 by 7.41%. However, this is a 47.27% decrease from the same period last year. The company also reported quarterly sales of $1.56 billion, meeting the analyst consensus estimate, but marking a 17.29% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:33 am

T

AT&T has reported a net addition of 550,000 postpaid subscribers and 468,000 phone net ads in Q3.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:33 am

SAP

SAP SE's Q3 FY23 financial results show a revenue growth of 4% Y/Y to €7.744 billion, with cloud revenue increasing 16% Y/Y to €3.472 billion. However, software licenses and support revenue declined 6% Y/Y to €3.208 billion. The company's non-IFRS operating profit rose 10% Y/Y to €2.28 billion, and non-IFRS EPS from continuing operations rose 32% Y/Y to €1.45. SAP's shares are up by around 5% following the announcement.

Portfolio Pulse from Lekha Gupta

October 19, 2023 | 10:28 am