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AVGO

VMW

Traders are closely watching VMWare shares following a report that China is reviewing a deal with Broadcom. The details of the deal are not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:43 pm

WAVD

WaveDancer has announced a 1-for-10 reverse stock split, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:43 pm

BLUE

CRSP

Cantor Fitzgerald initiated coverage on Bluebird Bio Inc (BLUE), expressing cautious optimism for its sickle cell disorder (SCD) therapy, lovo-cel. The analyst noted that while lovo-cel serves a larger market than Bluebird's other therapies, the company's financial outlook is uncertain due to its sizeable expense infrastructure and limited cash runway. The analyst also mentioned that Vertex Pharmaceuticals Inc/CRISPR Therapeutics AG's (CRSP) sickle cell candidate exa-cel is likely to emerge as the leading cell therapy for SCD due to Vertex's significant resource commitment.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 6:40 pm

TSN

B of A Securities analyst Peter Galbo maintains an 'Underperform' rating on Tyson Foods (NYSE:TSN) and has lowered the price target from $48 to $45.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:38 pm

ASNS

Actelis Networks has received its first order to provide IoT networking to a European natural gas systems operator. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:38 pm

DLTR

EYE

OLLI

Goldman Sachs analyst Kate McShane has upgraded Dollar Tree (DLTR) and Ollie's Bargain Outlet (OLLI) to Buy from Neutral, while downgrading BJ's Wholesale Club (BJ) and National Vision Holdings (EYE) to Neutral from Buy. The upgrades are based on strong earnings growth potential and attractive valuations, while the downgrades are due to limited earnings upside and ongoing challenges.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2023 | 6:36 pm

BLUE

CRSP

EDIT

Cantor Fitzgerald has downgraded Editas Medicine Inc (EDIT) to Neutral from Overweight due to competition in sickle cell therapy. Editas' EDIT-301 is running two years behind Vertex Pharmaceuticals/CRISPR Therapeutics AG's (CRSP) exa-cel and Bluebird Bio Inc's (BLUE) lovo-cel. The development of EDIT-301 is expected to be associated with limited value creation. EDIT shares are down 4.68% at $6.92.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 6:35 pm

CRSP

VRTX

Cantor Fitzgerald has downgraded CRISPR Therapeutics AG (CRSP) to Neutral from Overweight, citing potential barriers and lower than consensus sales estimates for its sickle cell therapy, exa-cel, developed in partnership with Vertex Pharmaceuticals Inc (VRTX). Despite this, the analyst expects a positive recommendation for exa-cel due to its favorable benefit-risk profile. CRSP's stock performance is expected to be closely tied to its product lineup as gene editing technology becomes more common.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 6:33 pm

ASMB

BAC

EVLO

GLUE

NTCT

OLK

SPRC

Bank of America Corp reported better-than-expected earnings for its third quarter, with EPS of $0.90, compared to $0.81 in the year-ago period, beating the consensus of $0.81. Revenue increased 3% year-over-year to $25.32 billion, beating the consensus of $25.14 billion. SciSparc Ltd. shares shot up 122% after Aegis Capital Corp. acted as exclusive placement agent on a $5.0 million private placement for SciSparc. Shares of Assembly Biosciences, Inc. got a boost after the company and Gilead announced a 12-year partnership. Olink Holding AB shares were also up after Thermo Fisher Scientific announced it will acquire the company. Evelo Biosciences, Inc. shares dropped 56% after releasing top-line results from its Phase 2 clinical study. Shares of NetScout Systems, Inc. were down after the company reported weak preliminary results for the second quarter and lowered its FY24 guidance. Monte Rosa Therapeutics, Inc. was down after announcing interim data from the Phase 1 dose escalation part of its ongoing phase 1/2 study.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 6:31 pm

HUBS

Keybanc Capital Markets analyst Michael Turits has reiterated the Overweight rating on HubSpot, Inc. (NYSE:HUBS), but lowered the price target to $593 from $660. Turits has also lowered 2024/2025 estimates following the third quarter HubSpot Elite partner conversations that weakened relative to the analyst's second quarter checks. The analyst cited macro-market uncertainty and increasing competition as HubSpot moves upmarket as reasons for the lowered estimates.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2023 | 6:31 pm