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STLA

UAW President Shawn Fain has criticized General Motors' (GM) wage offer as 'insulting' during ongoing negotiations. GM's offer includes a $5,500 bonus for all employees, a 10% wage increase for most employees, and a 20% raise for temporary employees. The UAW's demands include a 46% pay increase over the contract's duration, a shortened 32-hour workweek with 40 hours of pay, and traditional pensions for new hires. A potential strike involving 146,000 members against GM, Ford (F), and Stellantis (STLA) could be devastating for the companies and the economy.

Portfolio Pulse from AJ Fabino

September 07, 2023 | 5:59 pm

KRE

XLF

Regional banks have been impacted by the Federal Reserve's rate-hiking cycle and poor risk management strategies. However, with the anticipation of yield curve normalization, funds may flow into financial stocks. The SPDR S&P Regional Banking ETF (KRE) and the Financial Select Sector SPDR Fund (XLF) are mentioned as examples. The market sentiment suggests that the Fed is nearing the end of its rate-hiking cycle, which could bring stability to treasury yield volatilities and benefit regional banks. However, generating new loans in a market with flat yields remains a challenge.

Portfolio Pulse from Kevin Green

September 07, 2023 | 5:50 pm

AMZN

CMCSA

DKNG

The 2023 NFL season kicks off with the Detroit Lions vs. Kansas City Chiefs game. The game will air on NBC and stream on Peacock, both units of Comcast Corporation (NASDAQ:CMCSA). Future games will stream on Amazon Prime Video, a unit of Amazon.com, Inc. (NASDAQ:AMZN). Betting odds are provided by DraftKings Inc (NASDAQ:DKNG). Key storylines include an injury to Chiefs' Travis Kelce and the Lions' new running back lineup.

Portfolio Pulse from Chris Katje

September 07, 2023 | 5:46 pm

Colgate-Palmolive shares are trading higher amid risk-off sentiment on rate hike fears.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 5:42 pm

ABL

GBLI

HCI

HRTG

HUIZ

JRVR

MBI

OXBR

PLMR

RELI

RLI

RNR

During Thursday's intraday session, several insurance stocks experienced significant movement. Gainers included Reliance Global Group (RELI), HCI Group (HCI), Palomar Holdings (PLMR), RenaissanceRe Holdings (RNR), MBIA (MBI), and RLI (RLI). Losers included Abacus Life (ABL), Huize Holding (HUIZ), Global Indemnity Group (GBLI), Heritage Insurance Holdings (HRTG), Oxbridge Re Holdings (OXBR), and James River Group Holdings (JRVR).

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 5:40 pm

CROX

B.Riley Securities analyst Jeff Lick has downgraded Crocs Inc (NASDAQ:CROX) to Neutral from Buy and lowered the price target to $101 from $125. The downgrade is due to an over-inventoried footwear channel and weak sales momentum. The analyst sees roughly $2.4 billion or 16% more footwear inventory in stores, warehouses, and DCs entering the BTS and fall selling seasons. The analyst also expects EBITDA growth to turn modestly negative in Q3 FY23, Q4 FY23, and Q1 FY24.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 5:36 pm

AAPL

Apple Inc is expected to release new products at its upcoming 'Wonderlust' event, with the focus on the iPhone 15. Analysts from Morgan Stanley and Wedbush have laid out expectations for the launch, including limited upgrades for the iPhone 15 and 15 Plus models, and significant changes for the Pro models. The analysts also expect Apple to enhance the camera quality and introduce a new 'Action Button'. They believe that the iPhone estimates for 2024 are too low and that Apple can continue to outperform. Both firms have Overweight/Outperform ratings on Apple stock with price targets of $215 and $230, respectively.

Portfolio Pulse from Adam Eckert

September 07, 2023 | 5:36 pm

BILI

DIS

GOOG

GOOGL

META

NFLX

PARA

RBLX

TTD

WBD

Benzinga's options activity scanner has identified significant options activity in 10 communication services stocks. The stocks include META, NFLX, DIS, WBD, RBLX, PARA, GOOG, GOOGL, BILI, and TTD. The options activity ranges from bearish to bullish and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 5:35 pm

CMG

CZR

DHI

DKNG

FTCH

LOW

TSLA

Benzinga's options activity scanner has detected unusual options activity in the Consumer Discretionary sector. The stocks involved are Tesla (TSLA), Farfetch (FTCH), Li Auto (LI), DraftKings (DKNG), Lowe's Companies (LOW), Under Armour (UA), D.R. Horton (DHI), Caesars Entertainment (CZR), RH (RH), and Chipotle Mexican Grill (CMG). The options activity ranges from bullish to neutral sentiment, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 5:35 pm

AAPL

AMD

INTC

LRCX

MSFT

NVDA

ORCL

STX

TSM

The article reports on the options activity of 10 Information Technology stocks, including AAPL, NVDA, MSFT, AI, STX, ORCL, AMD, LRCX, INTC, and TSM. The options activity is tracked by Benzinga's options activity scanner, which monitors the transactions of entities with large sums of money, known as 'whales'. The article provides detailed information on the type of options activity (put/call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each of the mentioned stocks.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 5:35 pm