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FMC

Blue Orca Capital has issued a short report on FMC Corporation, highlighting undisclosed legal setbacks and the impact of generic competition on its revenues. FMC's revenues have already been hit by a global oversupply of inventory, and a 30% Y/Y decline was reported recently. The report suggests that FMC misled investors about the potential for generic competition for its flagship diamides. Legal rulings have allowed generic alternatives to enter key markets in India and China, with Brazil likely to follow. These generics are often sold at significantly lower prices, threatening FMC's market share.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 3:18 pm

BYDDY

TSLA

VWAGY

WKSP

WKSPW

At the Munich Auto Show, Tesla and BYD showcased their EV models, with BYD dethroning Volkswagen as the best-selling EV brand in China. Worksport Ltd announced a partnership with a top-tier solar panel provider to develop its SOLIS solar-powered tonneau cover. Tesla debuted a revamped Model 3 and lowered prices for Model S and Model X in China and the U.S. BYD presented six models at the IAA Mobility Show and announced plans to expand into the European market.

Portfolio Pulse from Upwallstreet

September 07, 2023 | 3:17 pm

VXRT

Vaxart Inc has released topline data from the Phase 2 challenge study of its oral tablet monovalent norovirus vaccine candidate, showing a statistically significant 29% reduction in the rate of norovirus infection between the vaccinated and placebo arms. The study also showed an 85% decrease in viral shedding in the vaccine arm compared with placebo. Vaxart is currently conducting additional analyses of the data from this challenge study and its prior norovirus trials to define the timing of a larger Phase 2b study. VXRT shares are down 6.56% at $0.75 on the last check Thursday.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 3:13 pm

BTI

British American Tobacco PLC (NYSE:BTI) has agreed to sell its Russian and Belarusian businesses to a consortium led by BTI Russia's management team. The businesses will be renamed ITMS Group, and BTI will not have a presence in Russia or Belarus or gain financially from ongoing sales in these markets. The company reaffirmed its FY23 outlook for organic constant currency revenue growth of 3%-5% and adjusted EPS growth in constant currencies in mid-single digits.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 3:09 pm

PLAY

Dave & Buster's Entertainment Inc (NASDAQ:PLAY) reported weaker-than-expected Q2 sales of $542.10 million, missing the consensus estimate of $559.00 million. However, it beat earnings per share estimates by a cent. Following the announcement, the company's shares dipped 6%. Analysts from Raymond James, BMO Capital, and Truist Securities have subsequently lowered their price targets for the company.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 3:09 pm

SWIN

Trading of Solowin Holdings' shares has resumed.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 3:06 pm

SPY

UNG

USO

The Energy Information Administration (EIA) reported a build of 0.679M in weekly distillates stocks, higher than the estimated build of 0.239M and lower than the prior build of 1.235M.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 3:02 pm

AMD

A significant bearish stance has been taken on Advanced Micro Devices (NASDAQ:AMD) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 44% bullish and 55% bearish. The whales have been targeting a price range from $100.0 to $180.0 for AMD over the last 3 months. The price of AMD is currently down -1.78% at $107.34.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 3:02 pm

KVUE

A significant amount of unusual options activity has been observed for Kenvue (NYSE:KVUE), indicating a bullish stance by a large investor or institution. The overall sentiment of these big-money traders is split between 51% bullish and 48% bearish. The volume of KVUE is down -3.84% at $21.52. The next earnings are expected to be released in 62 days.

Portfolio Pulse from Benzinga Insights

September 07, 2023 | 3:02 pm

SPY

UNG

USO

USA Crude Oil Inventories reported a draw of 6.307M, which is higher than the estimated draw of 2.064M, but lower than the prior draw of 10.584M.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 3:01 pm