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NVAX

Novavax shares are trading higher due to the increase in COVID cases in the US, which has positively affected vaccine stocks recently.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 3:56 pm

ACDVF

DAL

Passengers on Delta Air Lines, Inc. (NYSE:DAL) and Air Canada (OTC:ACDVF) flights recently faced discomfort due to incidents involving bodily fluids. On an Air Canada flight, passengers were asked to sit in seats wet with vomit, leading to their removal from the plane and a 31-minute delay. On a Delta flight, a passenger's severe gastrointestinal distress caused an emergency return to Atlanta, resulting in an eight-hour delay. Both airlines faced criticism for their handling of the situations.

Portfolio Pulse from AJ Fabino

September 06, 2023 | 3:55 pm

AAPL

NVDA

TSLA

Large-cap tech stocks, including AAPL, NVDA, and TSLA, are trading lower due to rising Treasury yields, which have put pressure on growth sectors.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 3:52 pm

IDEX

Ideanomics Inc's shares are trading lower by 7% amid overall market weakness and following a 1-for-125 reverse stock split. The company implemented the reverse stock split to restore compliance with the minimum bid price criterion of $1.00 for maintaining listing on The Nasdaq Capital Market. The stock has fallen 73% over the past month.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:49 pm

WIT

Wipro Inc.'s (NYSE:WIT) stock price is currently at $5.16, after a 0.48% decrease. However, the stock has risen by 3.10% over the past month and by 0.49% over the past year. The company's P/E ratio of 20.27 is lower than the IT Services industry average of 43.03, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 3:45 pm

LCID

Lucid Group Inc's shares are trading lower due to overall market weakness, exacerbated by high oil prices and rising Treasury yields. The rising yields may increase Lucid's borrowing costs if it needs to raise capital through debt issuance. The shift of investors from riskier assets like growth stocks to safer assets like bonds can lead to selling pressure on growth stocks, causing their prices to fall.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:42 pm

RIVN

Rivian Automotive Inc's shares are trading lower by 2.8% amid overall market weakness, elevated oil prices, and rising Treasury yields. The rise in Treasury yields makes safer government bonds more attractive to investors, making high-growth stocks like Rivian less appealing. Rivian's valuation is based on future cash flows, which are impacted when Treasury yields rise.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:38 pm

LMT

Lockheed Martin Corporation (NYSE:LMT) has updated its F-35 Technology Refresh 3 (TR-3) schedule, now expecting the first TR-3 jet delivery between April and June 2024, a delay from the previously anticipated 2023. The company now plans to deliver 97 aircraft in 2023, down from the earlier expectation of 100 to 120 jets. Despite the delay, Lockheed Martin does not expect this to impact its 2023 financial outlook, but is assessing potential impacts to 2024. Following the news, LMT shares dropped by 4.59%.

Portfolio Pulse from Nabaparna Bhattacharya

September 06, 2023 | 3:35 pm

OSTK

Overstock.com Inc (NASDAQ:OSTK) shares are trading lower after the company provided a business update for Bed Bath & Beyond's Q3, which it acquired in June. Overstock expects Bed Bath & Beyond's revenue to decline in the mid-teens percent range YoY, while orders are expected to be up in the mid-single digit percent range. The company had over 4.8 million active customers as of Sept. 4. Overstock's CEO, Jonathan Johnson, noted that website traffic and conversion rate have improved, and the company's mobile app is outpacing other platforms on sales.

Portfolio Pulse from Adam Eckert

September 06, 2023 | 3:35 pm

OSTK

Overstock shares are trading lower after the company announced it expects Bed Bath & Beyond's revenue to decline in the mid-teens percent range on a year-over-year basis.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 3:34 pm