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NFLX

Netflix, Inc. (NASDAQ:NFLX) is ending its free mobile plan in Kenya, which allowed users to access a quarter of its content for free over the past two years. The company is introducing a new ad-supported plan priced at $6.07 per month. However, there is no confirmation of its availability in Kenya. Despite reducing subscription costs, Netflix has faced challenges in expanding its footprint in India. The company is focusing on creating local content to attract African audiences.

Portfolio Pulse from Nabaparna Bhattacharya

October 10, 2023 | 3:44 pm

BAC

HYSNY

UBS

Hong Kong property developer Hysan Development Company Limited (OTC:HYSNY) has issued a prospectus for up to $4 billion of medium-term bonds, more than 10 times its average medium-term debt tranche. The bonds are being issued in the form of zero-coupon notes that are heavily discounted to institutional purchasers. The company plans to list the bonds on the Hong Kong exchanges within the next 12 months. The bonds are unsecured and reliant on a guarantee by Hysan to repay. Bank of America Corporation (NYSE:BAC) and UBS Group AG (NYSE:UBS) are handling the debt issuance.

Portfolio Pulse from Daniel Harrison

October 10, 2023 | 3:43 pm

JOBY

Joby Aviation responded to recent statements by Kerrisdale, a company with a vested interest in lowering Joby's share price. Joby encouraged investors to review their public filings for accurate information about their progress and financial projections. They highlighted recent achievements including expanded testing, delivery of the first-ever electric air taxi to the U.S. Air Force, and the announcement of their first scaled manufacturing facility.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 3:40 pm

AKRO

VTYX

WLY

Several US stocks recorded losses on Tuesday despite the overall market trading higher. Akero Therapeutics shares dipped 63.9% after reporting a 36-week analysis of its Phase 2b SYMMETRY study. 89bio tumbled 37.7%. Ventyx Biosciences fell 22.1% after announcing results from the Phase 2 trial of VTX002. John Wiley & Sons shares dipped 10.4% after reporting the departure of its CEO. Groupon declined 9%. Uranium Royalty Corp fell 7.1%. WK Kellogg Co fell 6.6%. Neumora Therapeutics declined 6% after reporting the appointment of a new executive VP. SunCar Technology Group fell 5.7%. Genelux Corporation fell 5.7%. PagerDuty shares fell 3.7% after announcing a proposed private placement of $350 million of convertible senior notes.

Portfolio Pulse from Lisa Levin

October 10, 2023 | 3:37 pm

BUD

TAP

Molson Coors Beverage Company (NYSE:TAP) has announced plans to buy back shares worth $2 billion over the next five years, a significant increase from the $51.5 million it repurchased in 2022. The company's credit rating was also upgraded by S&P Global Ratings, recognizing its efforts in reducing debt. Molson Coors reported an 11.8% increase in net sales for Q2, totaling $3.27 billion. The company's market share has increased, partly due to a controversial move by competitor Bud Light, which resulted in a 30% drop in its U.S. volumes.

Portfolio Pulse from Shivani Kumaresan

October 10, 2023 | 3:35 pm

PEP

WMT

PepsiCo Inc (NASDAQ:PEP) reported strong Q3 results, beating Wall Street estimates and raising its full-year guidance for a third consecutive quarter. The company's revenue grew 6.7% to $23.45 billion, with net income of $3.09 billion. However, volume fell due to inflation impacting product demand. PepsiCo's North American food divisions outperformed the beverages unit. The company also reported successful price increases. However, the growing popularity of weight loss drugs could impact PepsiCo, Coca Cola (NYSE:KO), and Walmart Inc (NYSE:WMT) as they may need to alter their offerings to fit changing consumer behavior.

Portfolio Pulse from Upwallstreet

October 10, 2023 | 3:34 pm

CGC

Canopy Growth has received EU GMP certification for its cannabis cultivation facility in Kincardine, Ontario. This news has led to an increase in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 3:31 pm

A large bearish position has been taken on Visa (NYSE:V), as noticed by Benzinga's options scanner. The overall sentiment of these big-money traders is 100% bearish. Whales have been targeting a price range from $190.0 to $250.0 for Visa over the last 3 months. Baird has downgraded its action to Outperform with a price target of $284, while JP Morgan maintains their Overweight rating on Visa, with a price target of $293.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 3:30 pm

AAPL

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, NVDA, and TSLA. The memo provides price levels based on a proprietary formula that considers price, volume, and options flow. The memo suggests potential breakouts or reversals for these stocks and recommends traders to stay alert and adjust their tactics based on the market's pulse.

Portfolio Pulse from RIPS

October 10, 2023 | 3:27 pm

PATH

UiPath, Inc. (NYSE:PATH) shares are trading higher after the company announced a new integration allowing customers access to Amazon Bedrock. The connector for Amazon Bedrock enables developers to integrate generative AI directly within Amazon Web Services (AWS). PATH shares have risen nearly 9% over the last five days, but are still 5% lower for the month. The stock is currently trending on Yahoo! Finance, and 11.11% of PATH shares are being sold short.

Portfolio Pulse from Erica Kollmann

October 10, 2023 | 3:19 pm