Streetbeat News

Stock Prices

ENVX

Enovix Corporation announced a strategic realignment of its Fab1 facility, which resulted in Q3 production falling short of the company's guidance. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:51 pm

AMC

GME

The movie 'Dumb Money' recounts the January 2021 GameStop (GME) stock frenzy and the downfall of Melvin Capital. The film portrays retail investors triumphing over Wall Street, but overlooks the financial loss endured by those who invested in overvalued meme stocks like GameStop and AMC Entertainment (AMC). The GameStop saga highlighted the risk of blind adherence to overvalued investments and the power of an ill-informed crowd to destabilize seasoned investors.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 12:43 pm

TGT

Target Corp has launched its holiday toy shopping season with a range of affordable toys and games priced under $25. The retailer has also revealed its Bullseye's Top Toys list and new exclusives through collaborations. Customers can avail additional savings through Target Circle, the retailer's free-to-join loyalty program, and get 5% off all purchases when using a Target RedCard. TGT shares are trading lower by 0.25% at $106.42 in premarket on the last check Tuesday.

Portfolio Pulse from Shivani Kumaresan

October 03, 2023 | 12:43 pm

WMG

Warner Music Group's stock has been upgraded from Neutral to Buy by UBS, with a raised price target from $34 to $37. This has resulted in the shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:41 pm

RGF

Real Good Food Company, Inc. (NASDAQ:RGF) reported record dollar sales of $9.94 million in the four-week period ending September 10th, 2023, representing a 27% growth compared to a year ago. The company expects the growth rates to continue to accelerate for the remainder of the year. The overall Frozen category was down 0.4% over the four-week period, while the Health & Wellness Frozen Food subcategory, which includes Real Good Foods, grew modestly at 0.7%.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:40 pm

TAK

Takeda Pharmaceutical Co Ltd (NYSE:TAK) has decided to voluntarily withdraw its lung cancer drug, Exkivity, from the US market following a failed confirmatory trial. The company is also planning to initiate a global withdrawal where the drug is approved. The decision was based on the outcome of the Phase 3 EXCLAIM-2 confirmatory trial, which did not meet its primary endpoint. Takeda will continue to assess the impact of the withdrawal and update the full-year, consolidated forecast for the fiscal year ending March 31, 2024.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 12:38 pm

MKC

McCormick reported worse-than-expected Q3 sales results and issued guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:36 pm

ABNB

Airbnb's stock is trading lower following a downgrade from Keybanc, which changed its rating from Overweight to Sector Weight.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:34 pm

MKC

McCormick & Company reported Q3 FY23 sales growth of 6% YoY to $1.684 billion, missing the analyst consensus estimate of $1.70 billion. Consumer segment sales rose 1% to $937.1 million, and Flavor Solutions Segment increased 11.9% to $747.6 million. The company reaffirmed FY23 revenue growth guidance of 5% - 7% and raised FY23 Adjusted EPS outlook to $2.62 - $2.67 from $2.60 - $2.65. MKC shares are trading lower by 4.94% in premarket.

Portfolio Pulse from Shivani Kumaresan

October 03, 2023 | 12:33 pm

NVO

VTRS

Novo Nordisk A/S (NYSE:NVO) has successfully defended two pivotal patent claims related to the main ingredient in its weight-loss and diabetes drugs, Wegovy and Ozempic, against Viatris Inc (NASDAQ:VTRS). Viatris, through its subsidiary Mylan Pharmaceuticals, had challenged the patents in an attempt to produce generic versions of these drugs. However, the U.S. Patent Office tribunal ruled in favor of Novo Nordisk.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 12:32 pm