Streetbeat News

Stock Prices

SAVE

Spirit Airlines has lowered its Q3 revenue guidance due to increased fuel costs, causing its shares to trade lower.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 4:25 pm

AVTX

Avalo Therapeutics Inc (NASDAQ:AVTX) shares are gaining on heavy volume after the company received a notice from Nasdaq about a potential delisting due to low bid price. The company has until Sept. 19, 2023, to appeal. Avalo also agreed to sell its rights and interest in assets relating to AVTX-801, AVTX-802, and AVTX-803 to AUG Therapeutics Inc. for a potential aggregate of $45 million.

Portfolio Pulse from Vandana Singh

September 13, 2023 | 4:19 pm

UBS has initiated coverage on Ford with a Buy rating and a price target of $15. This has led to an increase in Ford's share price.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 4:19 pm

SBUX

STLA

The United Auto Workers (UAW) is in contract negotiations with the big three U.S. auto manufacturers, Ford Motor Co (F), Stellantis NV (STLA), and General Motors Co (GM), demanding a pay increase of 30% or higher. UAW President Shawn Fain stated that if no agreement is reached by Thursday night, there will be 'action'. The UAW is also fighting for better working conditions and higher pay in 2023, similar to other labor unions such as Hollywood’s SAG-AFTRA and barista workers at Starbucks Corp (SBUX). A 10-day UAW strike could result in a nationwide economic loss of over $5 billion.

Portfolio Pulse from Aaron Bry

September 13, 2023 | 4:16 pm

SBUX

A significant bearish stance on Starbucks (NASDAQ:SBUX) has been observed through unusual options activity. The sentiment among big-money traders is split between 45% bullish and 54% bearish. The majority of the options uncovered are puts, with a total amount of $777,664, and there was 1 call, for a total amount of $50,507. Whales have been targeting a price range from $75.0 to $100.0 for Starbucks over the last 3 months.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 4:16 pm

NVDA

SPY

Economist Philip Pilkington suggests that the US economic growth data may be artificially inflated due to the Biden administration's Infrastructure Investment and Jobs Act (IRA), which has spurred a construction boom. He argues that the US economy is being propped up by construction spending, supported by IRA subsidies, and questions whether this can continue until the election. Amid this uncertainty, investors are advised to bet on top-performing companies and hedge against potential market downturns. An example of a hedged portfolio is provided, which includes Nvidia, Inc. (NASDAQ:NVDA) and outperformed the SPDR S&P 500 Trust ETF (NYSE:SPY) over a six-month period.

Portfolio Pulse from David Pinsen

September 13, 2023 | 4:15 pm

ACB

CRON

FLGC

Cannabis stocks are trading lower following recent surges due to US efforts to reschedule marijuana. Stocks mentioned include Aurora Cannabis (ACB), Cronos Group (CRON), and Flora Growth (FLGC).

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:15 pm

GCT

GigaCloud Technology has entered into an agreement as the stalking horse bidder to acquire substantially all assets of Noble House Home Furnishings for $85 million. This has led to a decrease in GigaCloud's share price.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 4:12 pm

ACM

FLR

HON

ITA

LMT

NOCE

RTN

XAR

The US government may face a shutdown if lawmakers fail to agree on funding allocation for 438 governmental agencies by September 30. A shutdown could temporarily reduce GDP by 0.15% per week, according to Goldman Sachs. The stock market has shown inconsistent responses to past shutdowns. Government contractors, particularly in the defense sector, could be affected. These include Lockheed Martin Corp (LMT), Boeing Co (BA), General Dynamics (GD), Raytheon (RTN), and Northrop Grumman Corp (NOCE). ETFs such as iShares US Aerospace & Defense ETF (ITA) and SPDR S&P Aerospace & Defense ETF (XAR) could also be impacted. Energy contractors like Aecom (ACM), Fluor Corp (FLR), and Honeywell International Inc (HON) could also be affected.

Portfolio Pulse from Natan Ponieman

September 13, 2023 | 4:09 pm

ACELYRIN

ACELYRIN's stock is trading lower following a downgrade by Morgan Stanley from Overweight to Equal-Weight. This comes after the company's Part B of a Phase 2b/3 trial of izokibep for Hidradenitis Suppurativa failed to meet its primary endpoint.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 4:08 pm