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ORTX

Orchard Therapeutics has agreed to be acquired by Japan's Kyowa Kirin for $16.00 per ADS in cash, with an additional contingent value right of $1.00 per ADS. This has led to a rise in Orchard Therapeutics' share price.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 10:19 am

ELF

Elf Beauty has filed for an offering of 577,659 shares of common stock by selling stockholders. The filing was made with the SEC.

Portfolio Pulse from Charles Gross

October 05, 2023 | 10:10 am

MKUL

Molekule Group received a delisting notice from Nasdaq on October 4, notifying that the company's common stock will be delisted from Nasdaq on October 13.

Portfolio Pulse from Charles Gross

October 05, 2023 | 10:06 am

ACCD

CLX

CMBM

LAAC

MXCT

NBTX

RGP

RIVN

Several US stocks traded lower in Thursday's pre-market session. Cambium Networks (CMBM) shares dipped 27.8% after the company reported lower than expected preliminary Q3 revenue and suspended its full-year 2023 guidance. MaxCyte (MXCT) shares fell 21.4% due to a decrease in Q3 total revenue. Accolade (ACCD) shares declined 9.2% after reporting Q2 results. Rivian Automotive (RIVN) shares fell 8.7% after announcing a debt offering. Resources Connection (RGP) and Nanobiotix (NBTX) shares also fell after reporting financial results. Lithium Americas (LAAC) and Clorox (CLX) shares fell in pre-market trading.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 10:03 am

LIZI

LIZHI Inc. (LIZI) has regained compliance with Nasdaq's minimum bid price requirement. The company received a letter from Nasdaq stating that it has maintained a closing bid price of $1.00 per share or more for a minimum of 10 consecutive business days, thereby regaining compliance.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 10:02 am

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares plunged in premarket trading following the announcement of a $1.5 billion green convertible senior notes offering due in 2030. Despite not having a dilutive impact on the stock, the debt offering could trigger liquidity concerns. The company also pre-announced Q3 revenue of $1.29 billion to $1.33 billion, compared to $551.57 million a year ago. Rivian's stock fell 8.61% to $21.65 in premarket trading.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 9:54 am

FSM

Fortuna Silver Mines Inc. (NYSE:FSM) reported record gold and gold equivalent production for Q3 2023 from its five operating mines in West Africa and Latin America. The production for the quarter was 94,821 ounces of gold and 1.7 million ounces of silver. The company is well positioned to achieve its annual production guidance.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 9:12 am

ACCD

CAG

LEVI

MXCT

STZ

Conagra Brands, MaxCyte, Constellation Brands, Accolade, and Levi Strauss are the stocks to watch on Thursday. Conagra Brands is expected to report quarterly earnings of 60 cents per share on revenue of $2.95 billion. MaxCyte forecasts a decrease in Q3 total revenue by 25%-27% compared to the previous year. Constellation Brands is expected to report earnings of $3.36 per share on revenue of $2.82 billion. Accolade posted better-than-expected sales for Q2 but shares declined 9.2%. Levi Strauss is expected to post earnings of 27 cents per share on revenue of $1.54 billion.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 9:08 am

AYI

CAG

LEVI

RPM

STZ

US stocks closed higher on Wednesday, with the Dow Jones index snapping a three-session losing streak as Treasury yields eased. RPM International Inc and Acuity Brands, Inc. saw shares gain over 6% and around 7% respectively following better-than-expected quarterly earnings. Investors are awaiting earnings results from Levi Strauss & Co., Conagra Brands, Inc. and Constellation Brands, Inc. The CNN Money Fear and Greed index remained in the 'Extreme Fear' zone.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 9:04 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) saw a 5% surge in its stock amid a broader market slump. The surge was attributed to a pullback in the yield of the 10-year Treasury note. Future Fund Managing Partner, Gary Black, suggested that Tesla investors might be anticipating that the company won’t quickly reduce configurator prices in the future. He also highlighted several upcoming catalysts for Tesla’s stock, including the Cybertruck launch, Model 3 refresh, and a licensing deal for full self-driving capabilities. Black projected higher fourth-quarter and 2024 volume estimates than the consensus, suggesting over 500,000 units for the fourth quarter.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 8:41 am