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QDEL

QuidelOrtho Corporation (NASDAQ:QDEL) released preliminary Q3 revenue of $738 million to $744 million, driven by higher respiratory product sales. The company sees non-respiratory product revenue of $557 million-$560 million and respiratory product revenue of $181 million-$184 million. William Blair says respiratory product revenue is well above their estimate of $101 million. However, non-respiratory sales grew approximately 2% Y/Y to $559 million at the midpoint, missing William Blair's estimate and consensus by just over $10 million. Despite ongoing uncertainty, William Blair reaffirms an Outperform for the stock.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 4:18 pm

EDSA

Edesa Biotech's shares have been halted on a circuit breaker to the upside, with the stock now up 83.3%.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:17 pm

FR

KeyBanc Capital Market analyst Todd M. Thomas has downgraded First Industrial Realty Trust, Inc. (NYSE:FR) to Underweight from Sector Weight with a price target of $42. The downgrade is due to risks to FY24 FFO estimates because of longer leasing timelines for new development projects. The analyst also notes that about $346 million of development is expected to be placed in service in the next four quarters, with minimal pre-leasing completed to date. As a result, FR's shares are down 3.54% at $45.42.

Portfolio Pulse from Lekha Gupta

October 12, 2023 | 4:15 pm

ACXP

Shares of Acurx Pharmaceuticals have resumed trading.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:15 pm

HL

Hecla Mining announced its Q3 production, following which its shares traded lower.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:14 pm

F

GM

STLA

TSLA

The United Auto Workers (UAW) union has expanded its strike to include Ford Motor's (NYSE:F) largest factory, the Kentucky Truck Plant, affecting 8,700 workers. This move is expected to cost Ford about $150 million per week in core profit. The strike also covers workers at General Motors (NYSE:GM) and Stellantis (NYSE:STLA). The UAW is also hoping that a win against these companies could help it with Tesla (NASDAQ:TSLA), where workers have attempted to organize several times without success.

Portfolio Pulse from Upwallstreet

October 12, 2023 | 4:11 pm

ACXP

Shares of Acurx Pharmaceuticals have been halted on a circuit breaker to the upside, with the stock now up 128.6%.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:10 pm

ACXP

Acurx Pharmaceuticals' shares resumed trading after a circuit breaker halt, with the stock now up by 98%.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:09 pm

SPY

XLE

XLK

XLP

XLU

The US Consumer Price Index (CPI) rose by 3.7% YoY in September, surpassing the anticipated 3.6%. Despite this, economists largely believe that the Federal Reserve will maintain the current interest rates in November. The US dollar surged following the release of the CPI data, potentially breaking a six-day losing streak. Stocks headed lower, with the SPDR S&P 500 ETF Trust (SPY) trading slightly negative. The Energy Select Sector SPDR Fund (XLE) and the Technology Select Sector SPDR Fund (XLK) were up, while the Utilities Select Sector SPDR Fund (XLU) and the Consumer Staples Select Sector SPDR Fund (XLP) were down.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 4:02 pm

ZS

A significant investor has taken a bearish stance on Zscaler (NASDAQ:ZS), with 80% of the detected trades being bearish. The whales have been targeting a price range from $160.0 to $185.0 for Zscaler over the last 3 months. The price of ZS is up 0.99% at $174.77. Piper Sandler and Barclays have upgraded their action to Overweight with a price target of $190, while Citigroup and Morgan Stanley maintain their ratings with price targets of $190 and $155 respectively.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 4:01 pm