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U.S. stocks showcased a mixed performance on Wednesday, influenced by the rising inflation rate. Netflix shares declined due to a subdued forecast for operating margins. Faraday Future's stock surged, trading at a volume of 12.8 million shares. Amazon's stock increased as the company leverages generative AI capabilities. American Airlines' stock decreased due to a surge in fuel prices. Tesla's stock saw an upward trend due to the EU's announcement of an anti-subsidy investigation into Chinese EVs.

Portfolio Pulse from Benzinga Neuro

September 14, 2023 | 1:49 am

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Taylor Swift's popularity continues to surge, breaking records in music, tours, and box office. Her tour led to a shutdown of the ticketing website Ticketmaster, owned by Live Nation Entertainment Inc (NYSE:LYV). Swift's success also led to increased media attention, with MTV, a unit of Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), having a camera feed exclusively covering her. The Tennessean newspaper, owned by Gannett Co (NYSE:GCI), is hiring a reporter dedicated to covering Swift. Swift's 'Eras Tour' film will be shown in AMC Entertainment Holdings (NYSE:AMC) theaters, where it made over $26 million in pre-sale ticket sales.

Portfolio Pulse from Chris Katje

September 13, 2023 | 11:17 pm

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United Auto Workers (UAW) President Shawn Fain has warned Ford Motor Co (F), General Motors Co (GM), and Stellantis NV (STLA) of a potential strike if the union's demands are not met. The demands include a 46% wage hike over four years, restoration of pensions, post-retirement health care, and a decrease in the workweek to 32 hours. The strike could commence on Sept. 14, affecting up to 146,000 workers.

Portfolio Pulse from AJ Fabino

September 13, 2023 | 10:19 pm

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Maryland's cannabis market has seen a significant increase in sales since transitioning from medical to recreational use, with August sales reaching $91.7 million, up from $42.7 million in June. The top cannabis stores in the state are reportedly making $25-30 million each in sales. Maryland's regulator has issued 101 dispensary licenses and plans to release an additional 75. Publicly traded multi-state operators in the market include Ascend (OTC:AAWH), Curaleaf (OTC:CURLF), Green Thumb (OTC:GTBIF), TerrAscend (OTC:TSNDF), and Verano (OTC:VRNOF).

Portfolio Pulse from Nicolás Jose Rodriguez

September 13, 2023 | 9:52 pm

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Arm Holdings has priced its IPO of 95.50 million ADSs at $51 per ADS. The SoftBank subsidiary has also granted underwriters the option to purchase up to an additional 7 million ADSs. The IPO is expected to close on September 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 9:37 pm

ARM

Arm has announced the pricing of its Initial Public Offering (IPO) at $51.00 per American Depositary Share (ADS). The ADSs are expected to start trading on the Nasdaq Global Select Market under the symbol 'ARM' on September 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 9:32 pm

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UK-based chip design firm, Arm Holdings, is preparing for an IPO that could value the company at $54 billion. The IPO is expected to raise approximately $5 billion for parent company SoftBank. Major tech companies including Apple, Google, Nvidia, and T. Rowe Price are expected to buy $735 million worth of Arm shares at the IPO price. The IPO is being underwritten by a consortium of 28 banks, including Goldman Sachs, JPMorgan, and BofA Securities.

Portfolio Pulse from Ryan Gustafson

September 13, 2023 | 9:32 pm

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Several communication services stocks experienced significant movement in Wednesday's after-market session. Salem Media Group, Zedge, Lytus Technologies Hldgs, FaZe Hldgs, and Treasure Global saw gains, while NextPlat, NFT Gaming Co, Society Pass, Super League Enterprise, Eventbrite, and Loop Media experienced losses.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 9:31 pm

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Several healthcare stocks experienced significant movement in Wednesday's after-market session. Notable gainers included Infinity Pharmaceuticals (INFI), TransCode Therapeutics (RNAZ), Longeveron Inc. - Subscription Right (LGVNR), Scinai Immunotherapeutics (SCNI), Avalo Therapeutics (AVTX), and NanoString Technologies (NSTG). On the other hand, Kiromic BioPharma (KRBP), OKYO Pharma (OKYO), Bionomics (BNOX), Impel Pharmaceuticals (IMPL), Creative Medical Tech (CELZ), and Joint (JYNT) saw declines.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 9:31 pm

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The article reports on the movement of 12 industrial stocks in Wednesday's after-market session. Ocean Power Techs, ShiftPixy, AgEagle Aerial Sys, iSun, Mesa Air Gr, and Ultralife saw their shares increase, while Radiant Logistics, FiscalNote Holdings, Surf Air Mobility, AERWINS Technologies, Greenwave Tech Solns, and Vertical Aerospace experienced a decrease in their shares.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 9:31 pm