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Stock Prices

PagerDuty Inc (NYSE:PD) shares fell by 5% after the company announced a proposed private placement of $350 million of convertible senior notes. The company may also grant initial purchasers an option to buy an additional $52.5 million in notes. The proceeds will be used for various purposes, including capped call transactions, repurchasing existing notes, buying shares of its common stock and general corporate needs, possibly including acquisitions.

Portfolio Pulse from Henry Khederian

October 10, 2023 | 1:56 pm

PEP

WMT

Coca-Cola Co (KO) shares are trading higher, possibly due to better-than-expected earnings from PepsiCo Inc (PEP). Despite recent selling pressure due to concerns about weight loss drugs impacting food and snack sales, PepsiCo's positive earnings report and raised full-year earnings growth outlook seem to have boosted Coca-Cola's stock. Coca-Cola is set to report its third-quarter earnings on Oct. 24.

Portfolio Pulse from Adam Eckert

October 10, 2023 | 1:55 pm

NFLX

NYT

WBD

On his first day at Warner Bros. Discovery, Inc (WBD), CEO Mark Thompson emphasized the need for CNN to enhance its digital presence. Drawing from his experience as the former CEO of the New York Times Co (NYT), Thompson highlighted the importance of mobile devices as the primary news source. He acknowledged the recent launch of CNN Max, a streaming service aimed at competing with giants like Netflix Inc (NFLX), but stressed that the network is not yet adequately prepared for the future.

Portfolio Pulse from Anusuya Lahiri

October 10, 2023 | 1:54 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that there is more to be done to achieve the 2% inflation target, but he believes that the current policy is in a good place to reach this goal. He also mentioned that he does not foresee a recession in his 'Dot Plot'.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:54 pm

EIS

SPY

Federal Reserve's Bostic has stated that the ongoing war in Israel is creating uncertainty in the economy. The impact of this uncertainty on US-listed ETFs like EIS (iShares MSCI Israel ETF) and SPY (SPDR S&P 500 ETF Trust) is yet to be determined.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:49 pm

CMG

A significant bearish stance has been taken on Chipotle Mexican Grill (NYSE:CMG) by a large investor or institution, as evidenced by unusual options trading activity. The sentiment among these big-money traders is 18% bullish and 81% bearish. The whales have been targeting a price range from $1250.0 to $1900.0 for Chipotle over the last 3 months. The current price of CMG is $1833.01. Analysts from Truist Securities and Oppenheimer maintain their Buy and Outperform ratings respectively, with price targets above $2200.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:46 pm

TSLA

A significant bearish stance on Tesla (NASDAQ:TSLA) has been observed through unusual options activity. Benzinga's options scanner spotted 132 uncommon options trades for Tesla, with a split sentiment of 46% bullish and 53% bearish. The whales have been targeting a price range from $160.0 to $305.0 for Tesla over the last 3 months. RBC Capital and Morgan Stanley have downgraded their actions on Tesla, while Wells Fargo maintains their Equal-Weight rating.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 1:46 pm

SRT

Trading of StarTek's shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:41 pm

AKRO

ATHX

CISO

ETNB

PEP

SMX

SPCB

US stocks traded higher with the Dow Jones gaining more than 50 points. PepsiCo Inc reported better-than-expected earnings for its third quarter, with sales growth of 6.7% year-on-year to $23.45 billion. SMX, SuperCom Ltd, and CISO Global Inc shares rose significantly, while Akero Therapeutics, Athersys, Inc, and 89bio, Inc shares dropped. Oil traded down 0.4% while gold traded up 0.2%.

Portfolio Pulse from Lisa Levin

October 10, 2023 | 1:40 pm

VLRS

Volaris (NYSE: VLRS) has reported its September 2023 preliminary traffic results, showing a 3.1% YoY demand growth and an 84% load factor. The company has also updated its full-year 2023 guidance, raising its revenue guidance from ~$3.2B to $3.2B-$3.4B. The update comes in light of aircraft groundings and higher expected jet fuel prices. The company's CEO mentioned that the growth rate might slow down due to the accelerated inspections of GTF engines requested by RTX Corporation.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:40 pm