Streetbeat News

Stock Prices

ACCD

Accolade reported its Q2 financial results and issued Q3 guidance, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:29 pm

GS

TLT

Fitch Ratings has stated that a potential U.S. government shutdown following the removal of U.S. Rep. Kevin McCarthy as House speaker will not impact the nation's credit rating. This comes after Fitch downgraded the U.S.'s credit rating from AAA to AA+ in August due to a steady deterioration in governance standards. Meanwhile, Goldman Sachs analysts have suggested that the political development may increase the chances of a shutdown. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has fallen over 10% since early August in response to Fitch's rating action.

Portfolio Pulse from Piero Cingari

October 04, 2023 | 8:29 pm

CLX

The company expects to experience ongoing operational impacts in Q2, but these impacts are expected to lessen as it progresses towards normalized operations. It also anticipates benefiting from the restocking of retailer inventories as it ramps up fulfillment in Q2.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:28 pm

HPLT

Home Plate Acquisition Corporation (NASDAQ:HPLT) has cancelled its special meeting of stockholders and announced its intention to dissolve and liquidate. The company will redeem all outstanding shares of Class A common stock at an estimated per-share redemption price of $10.52. The company's securities are expected to be delisted from NASDAQ. Heidmar Inc. intends to terminate the Business Combination Agreement with Home Plate.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:27 pm

AYRO

Ayro Inc has regained compliance with the minimum bid price requirement of Nasdaq, as per the notice received from Nasdaq on October 2.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:26 pm

FVRR

UPWK

UBS analyst Kunal Madhukar initiated coverage on Fiverr International Ltd (FVRR) with a Buy rating and a price target of $33. Despite current market uncertainty, the analyst sees potential for growth in 2024. The analyst also compared Fiverr's valuation multiple to that of Upwork Inc (UPWK), which has historically traded at a discount to FVRR.

Portfolio Pulse from Shivani Kumaresan

October 04, 2023 | 8:24 pm

AMD

ARM

SSNLF

Samsung Electronics is reportedly considering the development of its own custom GPU, potentially ending its partnership with Advanced Micro Devices (AMD). This move is driven by the alleged underperformance of the Xclipse 920, pushing Samsung to explore bespoke solutions to enhance the efficiency and performance of its devices. Samsung's rumored 'Dream Chip,' the Exynos 2500, will likely bolster Samsung's standing in the smartphone industry. The company is also eyeing broader application landscapes, including the automotive and AI sectors.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 8:24 pm

HRTG

Heritage Insurance Holdings, Inc. (NYSE:HRTG) announced its estimated retained catastrophe losses for Q3 2023 were approximately $40 million. The losses were primarily due to the Maui Wildfire and Hurricane Idalia. The company expressed confidence in its ability to achieve long-term strategic and financial goals despite these losses.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:24 pm

MXCT

MaxCyte announced a year-over-year decrease of 25 to 27 percent in preliminary Q3 total revenue, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:23 pm

GM

LAAC

BMO Capital Markets analyst Joel Jackson resumed coverage on Lithium Americas (Argentina) Corp. (NYSE:LAAC) with a Market Perform rating and a $7.50 price target. LAAC, renamed Lithium Argentina, is an Argentine lithium brine pure-play with its flagship ramping Cauchari-Olaroz JV carbonate/LCE asset. Jackson models a 20kt stage 2 expansion by 2028 for ~$600 million capex (LAAC: ~$300 million), and additional value may come from the 100%-owned, early-stage Pastos Grandes and Sal de la Puna assets. General Motors Company (NYSE:GM) owns about 15 million shares (approximately 9% of the company); however, there is a possibility of divestment post the lockup period.

Portfolio Pulse from Nabaparna Bhattacharya

October 04, 2023 | 8:20 pm