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FHN

Wells Fargo analyst Timur Braziler has downgraded First Horizon (NYSE:FHN) from Overweight to Equal-Weight.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 10:48 am

ADC

FNKO

HHH

NKE

Insiders at Howard Hughes Holdings Inc (HHH), NIKE, Inc. (NKE), Funko, Inc. (FNKO), and Agree Realty Corporation (ADC) have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects or that they view the stocks as bargains.

Portfolio Pulse from Lisa Levin

October 04, 2023 | 10:39 am

DIA

QQQ

SPY

USO

UUP

On October 3, U.S. markets closed in the red due to rising Treasury yields and no immediate Federal Reserve interest rate cut. Job openings in August surpassed market expectations. All sectors in the S&P 500, except utilities, declined. The Dow Jones, S&P 500, and Nasdaq Composite all closed lower. Asian markets also fell, while Eurozone traded in green. Crude oil traded under $90. U.S. Dollar Index was down 0.15%.

Portfolio Pulse from Akanksha Bakshi

October 04, 2023 | 10:32 am

AFMD

Affimed has announced its transfer from the Nasdaq Global Market to the Nasdaq Capital Market. The company's shares will continue to trade under the ticker symbol 'AFMD'.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 10:31 am

CFRA analyst Garrett Nelson has upgraded General Motors (NYSE:GM) from Strong Sell to Sell, while maintaining a $28 price target.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 10:22 am

ALXO

ATEN

BGS

CALM

CGC

ENVX

FMS

FREY

HMC

LAC

NVS

Several stocks recorded losses in Wednesday's pre-market trading session. Lithium Americas Corp. (LAC) shares fell 28% after the company completed its reorganization into two independent publicly traded companies. Cal-Maine Foods, Inc. (CALM) shares dipped 12.4% following weaker-than-expected sales for its first quarter. A10 Networks, Inc. (ATEN) shares declined 11.7% after the company reported preliminary results for the third quarter. Other companies that saw a decline in shares include FREYR Battery (FREY), Enovix Corporation (ENVX), Canopy Growth Corporation (CGC), Fresenius Medical Care AG & Co. KGaA (FMS), B&G Foods, Inc (BGS), Honda Motor Co., Ltd. (HMC), ALX Oncology Holdings Inc. (ALXO), and Novartis AG (NVS).

Portfolio Pulse from Lisa Levin

October 04, 2023 | 10:08 am

AYI

Acuity Brands (NYSE:AYI) reported Q4 earnings of $3.97 per share, beating the analyst consensus estimate of $3.72 by 6.72%. However, the company's quarterly sales of $1.01 billion missed the analyst consensus estimate of $1.02 billion by 0.94%. This represents a 0.51% increase in earnings and an 8.97% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 10:02 am

BP PLC is reportedly planning to sell a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, aiming to raise about $1 billion. The move is part of BP's strategy to lower debt and maintain its dividend. The pipeline's entity reportedly generates a 12-month EBITDA of about $200 million. BP's shares are trading lower by 0.66% at $37.35 premarket.

Portfolio Pulse from Lekha Gupta

October 04, 2023 | 9:57 am

MBGAF

NIO

TSLA

Chinese electric vehicle startups Nio, Inc. (NYSE:NIO) and Li Auto, Inc. (NASDAQ:LI) have been competing in the EV market. Over the past year, Li Auto has outperformed Nio with a 41% gain compared to Nio’s nearly 49% decline. Li Auto's sales performance has been consistent, with cumulative deliveries reaching 244,225 units by the end of September 2023. Nio’s year-to-date deliveries totaled 109,993 units. Nio's stock has been under pressure due to lukewarm deliveries and an aggressive price war led by Tesla. However, Nio's stock offers a better risk-reward due to its beaten-down nature, with analysts suggesting over 65% upside potential.

Portfolio Pulse from Shanthi Rexaline

October 04, 2023 | 9:57 am

TSLA

Tesla Inc. is extending its Cybertruck testing to Baja California, Mexico, and is also introducing new accessories. The move comes as anticipation builds for the official Cybertruck launch event. The Cybertrucks have been sighted in various locations including Ohio, Florida, and now Mexico. One of the Cybertrucks spotted in Mexico featured a graffiti decal and appeared to have an accessory bar and a potential Starlink antenna, a satellite-based internet service developed by SpaceX.

Portfolio Pulse from Benzinga Neuro

October 04, 2023 | 9:51 am