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BABA

BIDU

COST

KWEB

WMT

Alibaba's stock is trading lower, in line with the broader index KraneShares CSI China Internet ETF, due to reports of tighter U.S. curbs on technology exports to China and the escalating Israel-Hamas conflict. The U.S. is considering stricter regulations on selling graphics chips for AI purposes and advanced chip-making equipment to Chinese companies, which could impact Alibaba's AI ambitions. However, Alibaba's Freshippo supermarket chain plans to transform approximately 350 offline stores into discount supermarkets by 2024, potentially boosting its market share.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 11:32 am

FOXA

NWSA

Activist shareholder Starboard Value has acquired a significant stake in News Corp (NASDAQ:NWSA) and is pushing for strategic and governance reforms. Starboard believes News Corp is undervalued due to its complex corporate structure and advocates for the spin-off of its digital real estate division, including REA Group and Realtor.com parent Move Inc. The firm is also pushing to eliminate News Corp's dual-class share structure, which grants the Murdoch family disproportionate voting rights.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 11:29 am

MRNA

NVAX

PFE

Pfizer has reduced its 2023 COVID vaccine revenue outlook, leading to a decrease in the share prices of vaccine stocks.

Portfolio Pulse from Bill Haddad

October 16, 2023 | 11:29 am

BNTX

BioNTech's shares are trading lower following Pfizer's decision to cut its COVID-19 vaccine and therapy sales outlook. Pfizer is a partner of BioNTech.

Portfolio Pulse from Bill Haddad

October 16, 2023 | 11:27 am

CNC

Centene Corporation (CNC) has announced that its 2024 Medicare Advantage Star results are consistent with its most recently publicly stated targets.

Portfolio Pulse from Charles Gross

October 16, 2023 | 11:26 am

PFE

Pfizer has lowered its sales outlook for its COVID-19 products, leading to a decrease in its share price.

Portfolio Pulse from Bill Haddad

October 16, 2023 | 11:26 am

MPW

Wells Fargo analyst Connor Siversky has downgraded Medical Properties Trust (NYSE:MPW) from Equal-Weight to Underweight and set a price target of $4.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 11:19 am

STRM

Streamline Health has received a termination notice from a legacy client, which was contributing approximately $4.5 million in annualized revenue. As a result, the company is accelerating its restructuring initiatives and suspending previous guidance related to Booked SaaS ACV. Updates on future expectations will be provided with the release of its fiscal third quarter 2023 financial results.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 11:10 am

TSLA

Elon Musk has been the CEO of Tesla Inc (NASDAQ:TSLA) for 15 years, transforming it into the largest player in the EV industry with a market cap of $807.669 billion. Since its IPO in 2010, Tesla's shares have jumped 19,780.08% to close at $254.46 on Friday. Musk is also the CEO of Neuralink and SpaceX.

Portfolio Pulse from Anan Ashraf

October 16, 2023 | 11:07 am

XERS

Xeris Biopharma has revised its FY23 revenue guidance from $145M-$165M to $155M-$165M, which is in line with the consensus of $158.2M. The company also increased its 2023 cash, cash equivalents, and short-term investment guidance from $55M-$65M to $65M-$70M.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 11:06 am