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Stock Prices

CLVT

Barclays analyst Manav Patnaik has downgraded Clarivate (NYSE:CLVT) from Equal-Weight to Underweight and lowered the price target from $8 to $7.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:31 am

BA

EADSY

SPR

Spirit AeroSystems has reportedly asked Boeing and Airbus to share a more significant portion of the financial strain brought about by inflation, deeming their contracts currently 'unsustainable.' In the first half of 2023, Spirit carried about $215 million in charges on the Boeing 787 Dreamliner and Airbus A220 and A350 programs due to wage inflation, parts shortages, and greater regulatory scrutiny. Spirit is finding the current situation financially unsustainable and is in talks with Boeing and Airbus to address these challenges.

Portfolio Pulse from Nabaparna Bhattacharya

September 08, 2023 | 11:30 am

PL

Planet Labs (NYSE:PL) reported weaker-than-expected Q2 FY24 results with a revenue increase of 11% Y/Y to $53.8 million, missing the consensus of $54.14 million. The company also lowered its FY24 revenue guidance to $216 million-$223 million from $225 million-$235 million earlier. Shares are trading lower by 4.22% at $2.95 premarket.

Portfolio Pulse from Lekha Gupta

September 08, 2023 | 11:23 am

AEIS

Advanced Energy Industries, Inc. (AEIS) has announced the pricing of $500 million of 2.50% convertible senior notes due 2028. The sale of the notes is expected to close on March 5, 2021, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:21 am

AAPL

DOCU

KR

QQQ

SPY

Stock futures indicate another down session on Friday, with China's domestic growth concerns and potential for a U.S.-China trade war dampening traders’ risk appetite. Despite this, analysts remain optimistic about the long term. Rumors of China expanding its iPhone ban led to a sell-off in Apple and other tech firms. In premarket trading, the SPDR S&P 500 ETF Trust slipped 0.14% and the Invesco QQQ ETF declined 0.13%. Stocks in focus include DocuSign, which rose over 3% following the release of its quarterly results, and Kroger Co., which is scheduled to release its quarterly results.

Portfolio Pulse from Shanthi Rexaline

September 08, 2023 | 11:16 am

AAPL

The Chinese government is planning to extend its ban on iPhones from government employees to those working in other state-run agencies and government-controlled organizations. This news comes after Apple Inc.'s shares fell by 2.9% on Thursday and are down 6.2% this week. Despite this, Wedbush Securities’ analyst Dan Ives believes the concerns are overblown, stating that the Chinese consumer continues to want iPhones.

Portfolio Pulse from Rounak Jain

September 08, 2023 | 11:16 am

ASPS

Altisource Portfolio Solutions (ASPS) has announced the pricing of its $17.5 million public offering of common stock at $3.60 per share.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:03 am

BCTX

BriaCell Therapeutics Corp. (NASDAQ:BCTX) has completed patient enrollment in its Phase 2 clinical study and reports strong patient survival benefit and clinical benefit in advanced metastatic breast cancer patients.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:03 am

BABA

FXI

Alibaba Group Holding Ltd (BABA) stock traded lower on Friday, in line with the broader iShares China Large-Cap ETF (FXI) index. Alibaba is expanding its presence in the U.S. by introducing new features on its Alibaba.com platform. The company is hosting a 'Co-Create' event in Las Vegas and celebrating 'Super September' on its B2B platform. Despite Alibaba's overseas success, China's foreign trade faces challenges with declining exports. Meanwhile, Alibaba's fintech affiliate Ant Group Co launched an AI tool for wealth management and insurance services.

Portfolio Pulse from Anusuya Lahiri

September 08, 2023 | 11:02 am

SMAR

Smartsheet Inc (NYSE:SMAR) reported Q2 FY24 revenue growth of 26% Y/Y to $235.6 million, beating the consensus of $229.51 million. The company also raised its FY24 outlook. Subscription revenue rose 28% Y/Y to $221.5 million, and Professional services revenue increased 7% Y/Y to $14.1 million. Adjusted EPS of $0.16 exceeded the consensus of $0.07. The company expects Q3 revenue of $240 million-$242 million and adjusted EPS of $0.08-$0.09. The outlook for FY24 revenue was boosted to $950 million - $953 million from $943 million - $948 million.

Portfolio Pulse from Lekha Gupta

September 08, 2023 | 10:56 am