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EQNR

KOS

OXY

Kosmos Energy Ltd. (KOS) announced an oil discovery at the Tiberius exploration well in the U.S. Gulf of Mexico. The company operates the well with a 33.34% working interest, alongside Occidental Petroleum Corporation (OXY) and Equinor ASA (EQNR), both holding 33.33%. The well discovered approximately 250 feet of net oil pay within the primary Wilcox target. Kosmos will now undertake rock and fluid analysis to confirm the production potential of the reservoir and will work with partners on subsea development options.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 2:30 pm

LXFR

Luxfer Holdings PLC (NYSE:LXFR) shares dropped by around 15% following the company's Q3 FY23 preliminary results. The company expects Q3 net sales of $97 million and adjusted earnings per share of about $0.04, both lower than the street view. The company attributes the lower performance to macroeconomic challenges and supply chain disruptions. LXFR is planning a turnaround strategy, including a headcount reduction program. The company's full-year 2023 results are expected to be significantly lower than previous guidance.

Portfolio Pulse from Lekha Gupta

October 11, 2023 | 2:26 pm

EIS

SPY

USO

VGK

Russia's Energy Minister, Novak, has stated that Russia and Saudi Arabia have not discussed any action plan within OPEC+ in case of further escalation in the Middle East, according to Reuters citing IFAX.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:26 pm

COP

ConocoPhillips Inc. (NYSE:COP) is currently trading at $119.32, after a 0.89% decrease. The stock fell by 2.21% over the past month, and by 2.55% over the past year. The company's P/E ratio is 11.54, higher than the aggregate P/E ratio of 8.37 of the Oil, Gas & Consumable Fuels industry, indicating that the stock may be overvalued.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 2:15 pm

LMND

Morgan Stanley analyst Michael Phillips has maintained an Underweight rating on Lemonade (NYSE:LMND) and lowered the price target from $15 to $10.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:09 pm

AAPL

META

Meta Platforms Inc. is planning the successor to its Quest 3 VR headset, taking cues from Apple's Vision Pro. The company's focus has shifted from the metaverse to the practical applications of its VR headset, aligning its strategy with Apple's. Meta's stock has increased by 162% this year, with a 7% gain in October.

Portfolio Pulse from Zaheer Anwari

October 11, 2023 | 2:07 pm

GOOG

META

ROTH MKM suggests that while Q3 has largely exceeded expectations, ad spend has significantly slowed down in September and October. It appears that Facebook's ad spend budgets have shifted towards Google/YouTube and TikTok.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:06 pm

FUV

KNDI

LCID

LI

NIO

PSNY

RIVN

SOLO

TSLA

XPEV

According to the EIA Administrator, electric vehicle sales are projected to reach 2 billion by 2050. Meanwhile, sales of internal combustion engine vehicles are expected to peak between 2027 and 2033.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:03 pm

BYRN

Byrna Technologies (NASDAQ:BYRN) is set to release its latest quarterly earnings report on October 12, 2023. Analysts estimate an earnings per share (EPS) of $0.01. The company's past performance shows a pattern of share price drops following earnings beats. The stock is currently trading at $2.7, down 56.59% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 2:01 pm

SOTK

Sono-Tek (NASDAQ:SOTK) is set to release its latest quarterly earnings report on October 12, 2023. Analysts estimate an earnings per share (EPS) of $0.05. The company's stock performance has been generally negative over the last 52-week period, with shares down 25.74%. Last quarter, the company missed EPS by $0.00, resulting in a 2.77% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 2:01 pm