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AONC

BENF

LZM

NIO

OPEN

PKX

SABR

Several US stocks traded lower in Monday's pre-market session. Lifezone Metals Limited (LZM) shares fell 12% after reporting H1 loss of $16.77 per share. American Oncology Network (AONC) shares fell 8.5%, NIO Inc. (NIO) shares fell 7% after closing a US$1 billion convertible senior notes offering, Li Auto Inc. (LI) shares declined 6.6%, Opendoor Technologies (OPEN) shares declined 5.5%, Beneficient (BENF) shares fell 4.8%, Sabre Corporation (SABR) shares declined 4.7%, and POSCO Holdings Inc. (PKX) shares fell 4.7%.

Portfolio Pulse from Lisa Levin

September 25, 2023 | 11:24 am

AMZN

DIS

NFLX

PARA

QQQ

SPY

WBD

The market remains lackluster with index futures slightly in the red and the 10-year Treasury yield approaching 5%. The Nasdaq Composite and the S&P 500 hit their lowest levels in 3.5 months. The S&P 500 is down nearly 4% on the month, and technical damage is beginning to mount. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.13% and the Invesco QQQ ETF (NASDAQ:QQQ) moved down 0.15%. Stocks of studios such as Walt Disney Co. (NYSE:DIS), Paramount Global (NASDAQ:PARA), Warner Bros. Discovery, Inc. (NASDAQ:WBD), Amazon, Inc. (NASDAQ:AMZN), and Netflix, Inc. (NASDAQ:NFLX) rose in premarket trading after Hollywood’s writers union reached a preliminary labor agreement with major studios.

Portfolio Pulse from Shanthi Rexaline

September 25, 2023 | 11:15 am

CLNN

Clene has announced long-term follow-up data for patients treated with CNM-Au8 30mg for up to 133 weeks in the HEALEY ALS Platform Trial. The data shows improved survival with a 49% decreased risk of death.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 11:06 am

SPY

USO

On Friday, September 22, U.S. stock markets closed in the red with the S&P 500 and the Nasdaq experiencing their steepest week-to-week declines since March. Asian markets were mixed on Monday, with Japan's Nikkei 225 rising by 0.95% and China's Shanghai Composite receding 0.54%. European markets were predominantly bearish. In the commodities space, Crude Oil WTI traded up by 0.39% at $90.37/bbl. U.S. futures hinted at a subdued start.

Portfolio Pulse from Akanksha Bakshi

September 25, 2023 | 11:05 am

TSLA

GLJ Research CEO Gordon Johnson, a long-time Tesla Inc bear, predicted a 7% drop in Tesla's sales for the third quarter compared to the second quarter. He also claimed that Tesla's sales are imploding across its three largest markets and its profit margins lag behind competitors. Tesla CEO Elon Musk responded sarcastically, stating that there is value in someone being a reliable contra-indicator. Despite Johnson's predictions, Tesla has consistently reported profits since 2020.

Portfolio Pulse from Anan Ashraf

September 25, 2023 | 10:37 am

MORF

BTIG analyst Julian Harrison has downgraded Morphic Holding (NASDAQ:MORF) from Buy to Neutral.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:29 am

AAPL

TSLA

The weekend news roundup includes a potential U.S. government shutdown, Elon Musk's intention to buy the iPhone 15, and speculations about the 2024 Presidential race. Musk, the CEO of Tesla, has also criticized the compensation of General Motors' CEO Mary Barra. The potential government shutdown could impact the careers of prominent figures such as Reps. Matt Gaetz and Marjorie Taylor Greene.

Portfolio Pulse from Benzinga Neuro

September 25, 2023 | 10:09 am

AAPL

EEM

TSM

Mark Mobius, emerging markets expert, suggests that investors should reduce their holdings in Chinese consumer stocks and focus on technology stocks. He believes that China is aggressively investing in the tech sector, with a particular emphasis on chips, in an attempt to surpass the US. He also mentions that while some Chinese companies may not be profitable at the early stage, they could do well in the next three to five years. He advises investors to be cautious and invest in profitable companies. He also recommends diversifying into India while holding attractive Chinese stocks.

Portfolio Pulse from Shanthi Rexaline

September 25, 2023 | 9:31 am

ZGN

B of A Securities analyst Daria Nasledysheva has upgraded Ermenegildo Zegna (NYSE:ZGN) from Neutral to Buy and raised the price target from $16 to $16.5.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:27 am

NVS

Novartis has confirmed plans to spin-off its Sandoz business, with trading of new Sandoz Group AG shares and ADRs to commence on October 4, 2023. The shares of Sandoz are expected to be listed on the SIX Swiss Exchange and the OTCQX.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:25 am