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EZPW

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The U.S. Supreme Court is set to hear a case challenging the funding structure of the Consumer Financial Protection Bureau (CFPB). The case, initiated by payday lenders, argues that the CFPB's funding mechanism, which draws from the Federal Reserve rather than Congress-approved budgets, violates the Constitution. If the court rules in favor of the lenders, regulations issued by the CFPB over the past 12 years could be nullified, and the funding models of other regulators and programs could be scrutinized. Stocks and ETFs exposed to the payday loan sector, including Firstcash Holdings Inc, Oppfi Inc, World Acceptance Corp., EZCORP Inc, First Trust Multi-Manager Sm Cap Opportunities ETF, Invesco S&P SmallCap 600 Pure Value ETF, and Invesco Dorsey Wright Financial Momentum ETF, could be impacted.

Portfolio Pulse from AJ Fabino

October 03, 2023 | 4:30 pm

RIVN

Rivian's shares are trading lower following the release of the company's Q3 production figures.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 4:30 pm

WRBY

Evercore ISI Group has upgraded Warby Parker's stock from In-Line to Outperform, leading to a rise in the company's share prices.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 4:27 pm

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US stocks fell with the Nasdaq Composite dropping over 200 points. Job openings increased by 690,000 to 9.61 million in August. Vericity, Inc. (VERY) shares rose 87% after iA Financial Group announced its acquisition. POINT Biopharma Global Inc. (PNT) shares rose 85% after Eli Lilly And Co (LLY) agreed to acquire it. SciSparc Ltd. (SPRC) shares rose 33% after being granted a European patent. SmileDirectClub, Inc. (SDC) shares fell 42% after receiving a delisting notice from Nasdaq. Ocean Biomedical, Inc. (OCEA) shares fell 26% after announcing its cancer-targeting immunotherapy antibody candidate's results. Femasys Inc. (FEMY) shares fell 36%.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 4:20 pm

NVO

VTRS

Novo Holdings, the controlling shareholder of Novo Nordisk A/S, is expecting a significant influx of capital due to the success of the weight-loss drug Wegovy. The company's CEO projects a financial boon exceeding $12 billion in the upcoming years. Novo Nordisk's share price has nearly tripled since the launch of Wegovy in June 2021, making it Europe's most valuable listed company. Novo Holdings holds 28.1% in economic shares and 76.9% in voting shares in Novo Nordisk.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 4:17 pm

ORCL

A significant bearish stance has been taken on Oracle (NYSE:ORCL) by a large investor or institution, as indicated by a large position in options. The sentiment among these big-money traders is split, with 45% bullish and 55% bearish. The whales have been targeting a price range from $70.0 to $120.0 for Oracle over the last 3 months. Analysts have mixed views on Oracle, with ratings ranging from Neutral to Buy and price targets from $100 to $150.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 4:16 pm

PBR

Petrobras CEO has announced that the company is considering re-adjusting fuel prices before the end of the year, although no final decision has been made. The company also plans to maintain its investments in the Equatorial Margin at $3B in its next investment plan.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:15 pm

IBKR

UBS analyst Brennan Hawken has initiated coverage of Interactive Brokers Group, Inc. (NASDAQ:IBKR) with a Buy rating and a price target of $113. Hawken highlighted the company's growth potential despite softening retail volumes in the industry, citing its automated trading platform's rapid growth in client assets, industry-leading profitability, and successful onboarding of institutional accounts.

Portfolio Pulse from Priya Nigam

October 03, 2023 | 4:11 pm

MSFT

Microsoft's CEO, Satya Nadella, testified in the federal antitrust trial against Google, discussing the challenges competitors face due to Google's dominance in the online search market. Despite the ongoing trial, Microsoft's stock showed resilience, starting the week with a 2% increase. The company has invested approximately $100 billion in Bing over the past two decades to create a competitive search landscape.

Portfolio Pulse from Zaheer Anwari

October 03, 2023 | 4:09 pm

CHDN

DKNG

Stifel analyst Jeffrey Stantial has initiated Churchill Downs Inc (NASDAQ:CHDN) with a Buy rating and a price target of $148. Stantial believes Churchill Downs could be one of the best growth stories in the gaming space, with potential for high ROI expansion projects. The company operates with three segments: live & historical racing, TwinSpires and gaming. Churchill Downs has partnered with DraftKings Inc (NASDAQ:DKNG) for its DK Horse platform.

Portfolio Pulse from Chris Katje

October 03, 2023 | 4:07 pm