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KRE

TFC

Truist Financial (NYSE:TFC) is planning significant changes to boost its stock performance after a 43% decline since February 2023. The company plans to cut costs by selling or closing underperforming businesses and reducing its workforce. CEO William Rogers announced plans to eliminate $750 million in operating expenses over the next 12 to 18 months. These changes are expected to stabilize the company’s expense growth at around 0% to 1% in 2024, down from the estimated 7% in 2023.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 8:14 am

BLK

BTCUSD

IVZ

Crypto investors are awaiting a decision from the Securities and Exchange Commission (SEC) regarding the establishment of a spot Bitcoin (BTC) exchange-traded fund (ETF). Companies such as Fidelity, BlackRock (BLK), and Invesco (IVZ) have submitted applications to launch their own Bitcoin ETFs. Grayscale Investments has been trying to convert its Grayscale Bitcoin Trust into an ETF and is prepared to do so as soon as approval is granted.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 7:52 am

BRK

Berkshire Hathaway's stake in Nu Holdings has seen a 93% increase in value since January, making it the star performer in Berkshire's 2023 portfolio. Despite a 13% slide from its IPO price, Nubank has shown promising operational growth with a 28% increase in customer count and a 61% increase in revenue. Nubank's crypto-friendly approach has attracted attention, despite Warren Buffett's criticism of digital coins.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 7:22 am

JPM

SGH

WFC

Citigroup, Dollar General Corporation, JPMorgan Chase & Co., SMART Global Holdings, and Wells Fargo & Company are the stocks to watch heading into Friday. Citigroup and Wells Fargo are expected to report quarterly earnings, while Dollar General has narrowed its outlook for fiscal year 2023 and announced a CEO change. JPMorgan is also set to release its earnings, and SMART Global reported worse-than-expected Q4 results and issued a weak forecast for Q1.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 6:50 am

UNH

UnitedHealth Group Incorporated (NYSE:UNH) is set to release its Q3 financial results on Oct. 13, 2023. Analysts predict earnings of $6.32 per share, up from $5.79 per share in the same period last year, and revenue of $91.37 billion, up from $80.5 billion. The company's shares closed at $525.54 on Thursday. Recent analyst ratings include Jefferies' Hold rating with a price target of $531, Stephens & Co.'s Overweight rating with a price target of $560, and Morgan Stanley's Overweight rating with a price target of $587.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 6:48 am

EWQ

France's Harmonised Index of Consumer Prices (HICP) for September has been reported at -0.6%, in line with estimates, but lower than the 1.1% reported in the prior month.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 6:46 am

EWQ

France's Consumer Price Index (CPI) for September has been reported at -0.5%, in line with estimates, but lower than the 1% reported in the prior month.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 6:46 am

BTWN

MNY

MoneyHero has completed its business combination with Bridgetown Holdings Limited and will debut on Nasdaq under the ticker 'MNY'.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 6:45 am

AMZN

RIVN

Rivian Automotive's CEO, R.J. Scaringe, discussed his relationship with Amazon's founder, Jeff Bezos, and the detailed conversation they had prior to Amazon's investment in Rivian. Amazon holds a 16.7% stake in Rivian and had a carrying value of $3.8 billion in Rivian's equity investments as of September 2021. Despite recent questions about Rivian's financial soundness, it is seen as a credible rival to Tesla in the EV market.

Portfolio Pulse from Shanthi Rexaline

October 13, 2023 | 6:43 am

DAL

JPM

UNH

WBA

WFC

The CNN Money Fear and Greed index showed a slight easing in the fear level but remained in the 'Fear' zone. U.S. stocks settled lower on Thursday, amid rising Treasury yields and steady inflation rate. Walgreens Boots Alliance reported weaker-than-expected earnings for Q4, while Delta Air Lines reported upbeat earnings for Q3. Investors are awaiting earnings results from Citigroup, JPMorgan Chase, UnitedHealth Group, and Wells Fargo.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 6:17 am