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ISRA

IZRL

KSA

USO

The escalating conflict between Israel and Hamas is causing a surge in crude oil prices, with WTI crude oil trading near $85 per barrel. Goldman Sachs predicts that the conflict could disrupt factors that might have eased the tight supply condition in the oil market. The firm anticipates that Saudi Arabia will gradually scale back the extra 1mb/d production cut by the first quarter of 2025, which could further boost crude oil prices. The conflict is also expected to impact projections for Iranian oil production. ETFs that could be affected by the conflict include United States Oil Fund (USO), iShares MSCI Saudi Arabia ETF (KSA), VanEck Israel ETF (ISRA), and ARK Israel Innovative Technology ETF (IZRL).

Portfolio Pulse from Piero Cingari

October 09, 2023 | 12:56 pm

AER

AerCap Holdings NV (AER) reported Q3 FY23 transactions and financial developments. The company signed 134 lease agreements, purchased 33 airlines, and completed 52 sale deals. It also repurchased about 20 million shares worth $1.2 billion and carried out financing transactions worth $3.9 billion. In Q2 FY23, the company reported a 10% YoY total lease revenue growth to $1.72 billion, missing the analyst consensus of $1.82 billion. Adjusted EPS of $2.56 beat the analyst consensus of $2.06.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 12:55 pm

LHX

LMT

NOC

RTX

Defense stocks are rising as war breaks out in Israel and Gaza. Israel declared war on Hamas after a surprise attack. The conflict is sending defense stocks higher as investors weigh the potential for escalation. The Pentagon announced it would send weapons and warships in support of Israel. Defense stocks including Lockheed Martin Corp, L3Harris Technologies Inc, General Dynamics Corp, Northrop Grumman Corp, and RTX Corp were all moving higher.

Portfolio Pulse from Adam Eckert

October 09, 2023 | 12:55 pm

ALNY

ANAB

MTEK

AnaptysBio (ANAB) announced positive top-line Phase 3 clinical trial results for Imsidolimab, causing a 29% increase in stock price. Maris-Tech (MTEK) will exhibit at Milipol Paris 2023, featuring its AI-based intelligence gathering and advanced video payload solutions, leading to a 45% stock price increase. Alnylam (ALNY) received a complete response letter from the U.S. FDA for a supplemental new drug application, causing a 7% decrease in stock price.

Portfolio Pulse from ryanfaloona@benzinga.com

October 09, 2023 | 12:54 pm

AAPL

BABA

China plans to increase its computing power by over a third by 2025, aiming for more than 300 exaflops, up from 220 this year. This initiative is part of Beijing's strategy to enhance its technological self-reliance amidst U.S. sanctions. The plan includes constructing 20 new smart computing centers within two years and expanding optical networks and advanced data storage by 2025. Alibaba Group Holding Limited (NYSE: BABA) and Apple Inc (NASDAQ: AAPL) are mentioned in the context of this development.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 12:52 pm

ARM

CART

The IPO market has been struggling due to rising interest rates and recessionary headwinds. High-profile IPOs like Arm Holdings (NASDAQ:ARM) and Instacart (NYSE:CART) have seen their stocks wobble soon after listing, with Arm's stock falling nearly 15% and Instacart's plunging over 24%. The Federal Reserve's plan to continue raising interest rates has deterred companies from going public due to concerns about rising borrowing costs. The current hawkish backdrop is unfavorable for IPOs as growth expectations and funding availability remain low.

Portfolio Pulse from Aditi Ganguly

October 09, 2023 | 12:52 pm

CAPR

CVKD

INKT

KIRK

Insiders at Cadrenal Therapeutics, MiNK Therapeutics, Kirkland's, and Capricor Therapeutics have recently purchased shares in their respective companies. Cadrenal Therapeutics is developing a novel therapy for the prevention of systemic thromboembolism. MiNK Therapeutics posted a narrower-than-expected Q2 loss. Kirkland's reported weaker-than-expected Q2 FY23 results. Capricor Therapeutics announced a $23 million registered direct offering.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 12:52 pm

FTXG

PEP

XLB

XLP

PepsiCo shares fell around 5% due to Walmart indicating a decrease in shopping demand due to the use of appetite-suppressing medications. The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week, marking its third consecutive week of losses. The Materials Select Sector SPDR Fund (XLB) gained 0.9%, while the Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.

Portfolio Pulse from Priya Nigam

October 09, 2023 | 12:48 pm

LEVI

Levi Strauss & Co reported better-than-expected Q3 earnings but missed sales estimates and lowered its yearly guidance. The company's dividend yield is currently 3.66%, with a quarterly dividend of 12 cents a share. To earn $500 monthly from Levi Strauss dividends, an investor would need to own approximately $163,750 worth of Levi Strauss, or 12,500 shares. The article also explains how dividend yield can change over time due to fluctuations in the stock price and dividend payment.

Portfolio Pulse from Priya Nigam

October 09, 2023 | 12:45 pm

NWLI

Trading of National Western Life Group's shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:45 pm