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Stock Prices

ARM

Instacart is considering revising its IPO target price upwards to $28 - $30 per share, following the successful IPO debut of Arm Holdings Plc. The company's shares are expected to start trading on the Nasdaq exchange under the ticker 'CART'. If the higher pricing is pursued, Instacart's fully diluted valuation could reach nearly $10 billion. This decision reflects the growing investor appetite for IPOs. The company's revenue grew by 31% to $1.5 billion, with advertising and other businesses contributing to about 24% of this growth.

Portfolio Pulse from Anusuya Lahiri

September 15, 2023 | 10:19 am

TSLA

Future Fund Managing Partner Gary Black expects Tesla's Q3 deliveries to be lower than expected due to a drop in volume estimates and erosion in auto gross margin. He predicts 445,000 units compared to the consensus estimate of 462,000 units. The high level of discounting on existing Model Y inventories is another concern. However, Black remains bullish on Tesla, expecting a reversal in Q4. Tesla shares rose 0.34% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

September 15, 2023 | 10:06 am

CURV

FTCH

PLBY

SRM

UHG

The article lists the top 5 oversold consumer stocks that could potentially rise in September. These include Torrid Holdings Inc. (NYSE:CURV), Farfetch Limited (NYSE:FTCH), SRM Entertainment, Inc. (NASDAQ:SRM), PLBY Group, Inc. (NASDAQ:PLBY), and United Homes Group, Inc. (NASDAQ:UHG). All these stocks have an RSI value below 30, indicating they are oversold and could rebound.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 9:58 am

UBER

SaaS company Deliverect has partnered with Uber Technologies Inc (NYSE:UBER) to help restaurants improve their delivery operations. The partnership will allow restaurants to manage their customers' experience from engagement to delivery. The integration is live in nine markets and aims to enhance customer experience and revenue. Uber Direct allows restaurants to maintain their brand and customer data, and set their own delivery fee pricing. UBER shares closed higher by 0.33% at $48.33 on Thursday.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 9:50 am

AAPL

ASML

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) has instructed suppliers to postpone the delivery of high-end chipmaking equipment due to concerns about customer demand. This decision affects companies like ASML Holding N.V., a manufacturer of lithography equipment crucial for high-end chipmaking. TSMC's decision aligns with its efforts to control costs amidst evolving market conditions. The company has also postponed production at its Arizona plant to 2025 due to recruitment difficulties and union opposition. Other players, including Apple, have echoed concerns about the chip industry's demand rebound.

Portfolio Pulse from Anusuya Lahiri

September 15, 2023 | 9:38 am

MNSO

MINISO Group has announced plans to repurchase up to $200 million in value of its outstanding ordinary shares and American Depositary Shares over a period of 12 months.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 9:21 am

ERJ

Nigeria-based Air Peace has placed a firm order for five Embraer SA (NYSE:ERJ) E175 aircraft, valued at $288.3 million. Deliveries will start in 2024. This aligns with Air Peace's strategy of modernizing its fleet and becoming the operator of Africa's largest and youngest aircraft fleet. Embraer is committed to supporting the establishment of local maintenance capabilities in Nigeria.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 9:09 am

VGK

The Eurozone trade balance for July was reported at 6.5 billion euros, significantly lower than the prior figure of 23 billion euros.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 9:01 am

TSLA

Jim Chanos, founder and President of Chanos & Co., maintains his short position on Tesla, Inc. (NASDAQ:TSLA), calling the stock 'ridiculously overvalued'. He criticized Tesla's strategy, stating that the company admitted to pursuing the wrong avenue for seven years with its full self-driving (FSD) effort. Chanos also warned that Tesla's profits would be under pressure permanently due to price cuts.

Portfolio Pulse from Shanthi Rexaline

September 15, 2023 | 8:50 am

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) has asked its major suppliers to delay the delivery of high-end chipmaking equipment due to concerns over demand, according to a Reuters report.

Portfolio Pulse from Charles Gross

September 15, 2023 | 8:36 am