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HSY

JVA

SJM

WTER

The article lists four oversold stocks in the consumer staples sector that could be undervalued: The Alkaline Water Company Inc. (WTER), Coffee Holding Co., Inc. (JVA), The J. M. Smucker Company (SJM), and The Hershey Company (HSY). WTER received a deficiency letter from Nasdaq, JVA is advancing a merger with Delta Corp Holdings Limited, SJM is selling its Sahale Snacks brand to Second Nature Brands, and HSY received an Overweight rating from Stephens & Co.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 11:24 am

ERIC

Ericsson's Q3 FY23 results show a 5% YoY sales decline to $5.96 billion, missing the consensus of $6.27 billion. The company reported an EPS loss and a 220 basis points contraction in adjusted gross margin due to business mix changes. Adjusted EBIT margin plunged by 460 bps to 6.0% as the adjusted EBIT declined 46% YoY. Ericsson expects lower than-normal seasonality in sales between Q3 and Q4 for Networks and Cloud Software and Services. The company's shares traded lower by 5.88% premarket.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 11:22 am

WH

Choice Hotels has proposed to acquire Wyndham Hotels & Resorts for $90.00 per share, payable in a mix of cash and stock. This has led to a rise in Wyndham's share price.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:16 am

NOK

Nokia shares are trading lower in sympathy with Ericsson, which reported a Q3 revenue miss.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:15 am

SPWR

Morgan Stanley analyst Andrew Percoco has downgraded SunPower (NASDAQ:SPWR) from Equal-Weight to Underweight and lowered the price target from $8 to $5.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:14 am

ERIC

Ericsson's shares are trading lower due to a Q3 revenue miss.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:13 am

JNJ

Johnson & Johnson reported better-than-expected Q3 results and raised its 2023 guidance midpoints, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:12 am

ASMB

EVLO

Trading of shares for Assembly Biosciences, Inc. and Evelo Biosciences, Inc. will resume at 7:30 a.m. ET.

Portfolio Pulse from Charles Gross

October 17, 2023 | 11:09 am

ASAN

HHH

SRRK

Insider trades were noted in Howard Hughes Holdings Inc. (HHH), Scholar Rock Holding Corporation (SRRK), and Asana, Inc. (ASAN). HHH Director William Ackman acquired 116,536 shares for around $7.96 million. HHH plans to spinoff a new division, Seaport Entertainment, by 2024. SRRK's 10% owner Invus Public Equities Advisors LLC acquired 2,199,931 shares for around $15.09 million. SRRK priced its upsized $85 million public offering of 12,408,760 common shares at $6.85 per share. ASAN's President, CEO and Chair Dustin Moskovitz bought 347,802 shares for around $6.24 million. UBS initiated coverage on ASAN with a Neutral rating and a price target of $20.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 11:05 am

MDLZ

Exane BNP Paribas analyst Max Gumport has upgraded Mondelez International (NASDAQ:MDLZ) from Neutral to Outperform.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:04 am