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FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) has released an open letter detailing measures to protect stockholder interests and review company achievements. The company is taking steps to combat potential illegal short-selling activities, engage with potential investors, enhance supply chain management, and implement cost control actions. The company's leaders also plan to increase their holdings. Despite significant milestones, the company's stock price and market capitalization have reached a low point, with the current market capitalization equal to around 1% of the approximately $3 billion invested into the business.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:30 am

BRK

Charlie Munger, Vice-Chairman of Berkshire Hathaway, could have amassed a fortune of over $10 billion if he had retained all his Berkshire Hathaway stocks. Munger, who currently owns 4,033 Class A shares of the company valued at $2.1 billion, has sold or donated over 75% of his Berkshire stock over the years for philanthropic endeavors.

Portfolio Pulse from Benzinga Neuro

October 16, 2023 | 7:11 am

SPY

TSLA

The third-quarter reporting season is starting with high-profile names from the financial and tech sectors. S&P 500 earnings are expected to increase for the first time in a year, with a blended year-over-year growth estimated at 0.4%. Major banks and financial services companies, transportation companies, and tech companies are set to report their earnings this week. Tesla's report is the most awaited, with concerns about margin erosion due to its downward price adjustments. The SPDR S&P 500 ETF Trust ended Friday’s session down 0.50% at $431.50.

Portfolio Pulse from Shanthi Rexaline

October 16, 2023 | 7:11 am

VSTM

Verastem Oncology has announced initial results of the RAMP 203 trial of Avutometinib and LUMAKRAS™ in KRAS G12C-Mutant Non-Small Cell Lung Cancer. The results could have significant implications for the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 6:32 am

INDA

India's Wholesale Price Index (WPI) inflation for September was reported at -0.26%, lower than the estimated 0.50% and the previous month's -0.52%.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 6:30 am

APH

PCTI

PCTEL has agreed to be acquired by Amphenol for $139.7 million. As part of the deal, PCTEL stockholders will receive $7 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 6:19 am

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

The burn rate of Shiba Inu (SHIB) has surged over 270% in the past 24 hours, with 48 million SHIB tokens burnt and removed from circulation. The number of SHIB addresses profiting from holding SHIB tokens has risen from 7% to 9%. In addition, tickets for the film “Taylor Swift: The Eras Tour” can now be purchased using SHIB, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) due to a partnership between BitPay and AMC. SHIB's price has surpassed the crucial support level at $0.0000070.

Portfolio Pulse from Mehab Qureshi

October 16, 2023 | 6:17 am

FBK

HDB

NVFY

PFE

SCHW

Charles Schwab, Pfizer, FB Financial Corporation, Nova Lifestyle, and HDFC Bank are the stocks to watch heading into Monday. Charles Schwab is expected to report quarterly earnings of 75 cents per share on revenue of $4.66 billion. Pfizer lowered its full-year revenue outlook by 13% due to weaker-than-expected covid-19 sales. FB Financial Corporation is expected to have earned 69 cents per share on revenue of $122.89 million. Nova Lifestyle filed for a mixed shelf of up to $55 million. HDFC Bank is expected to report quarterly earnings of 45 cents per share.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 5:36 am

FBK

JPM

SCHW

The CNN Money Fear and Greed index showed an increase in fear among US investors, with the index remaining in the 'Fear' zone. US stocks mostly settled lower on Friday due to an increase in crude oil prices and higher inflation expectations. However, the Dow and S&P 500 recorded weekly gains. JPMorgan Chase & Co. and Citigroup Inc reported strong Q3 earnings. Investors are awaiting earnings results from The Charles Schwab Corporation and FB Financial Corporation.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 5:35 am

RIVN

TSLA

Tesla CEO Elon Musk responded with laughter to a comparison between Tesla's Cybertruck and Rivian's R1T. The comparison was made in a photograph taken at a Tesla supercharger in Kettleman City, California. The Cybertruck's specifications have not been released yet, but it was expected to be larger than the R1T. Musk confirmed earlier this year that the Cybertruck delivery event would be held this year, but no date has been announced.

Portfolio Pulse from Anan Ashraf

October 16, 2023 | 5:27 am