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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

GM

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

IMAX

IMAX Corporation defends its decision to privatize IMAX China, stating it is in the best interest of shareholders despite opposition from Letko, Brosseau & Associates Inc. IMAX China's share price has been weak and trading volume hit all-time lows throughout 2023, despite encouraging first half results and increased box office market share.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:15 am

UNFI

United Natural Foods, Inc. (NYSE:UNFI) is expected to report a Q4 loss of 28 cents per share, compared to earnings of $1.27 per share a year ago. The company's revenue is projected to be $7.47 billion, up from $7.27 billion in the same period last year. The company's shares fell 2.1% to close at $18.85 on Friday. Several analysts have recently adjusted their price targets for the company, with most downgrading their ratings.

Portfolio Pulse from Lisa Levin

September 25, 2023 | 9:01 am

PAGP

Barclays analyst Theresa Chen has downgraded Plains GP Holdings (NASDAQ:PAGP) from Equal-Weight to Underweight and set a price target of $15.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:00 am

NVS

Morgan Stanley analyst Vincent Meunier has upgraded Novartis (NYSE:NVS) from Underweight to Equal-Weight.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:54 am