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NFLX

Netflix reported better-than-expected Q3 sales results, issued guidance, and raised some subscription prices, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:39 am

SPY

USO

On October 18, U.S. stock markets ended lower due to rising Treasury yields and investor assessments of recent corporate earnings and forecasts. The Dow Jones Industrial Average declined by 0.98%, the S&P 500 dipped 1.34%, and the Nasdaq Composite fell by 1.62%. Asian and European markets also experienced declines, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and the European STOXX 600 index all closing lower. Crude Oil WTI was trading lower by 1.65% at $85.83/bbl, and Brent was down 1.81% at $89.84/bbl.

Portfolio Pulse from Akanksha Bakshi

October 19, 2023 | 10:39 am

FL

Goldman Sachs analyst Kate McShane has downgraded Foot Locker (NYSE:FL) from Neutral to Sell and set a price target of $18.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:37 am

IIIN

Insteel Industries (IIIN) remains cautiously optimistic for FY24 despite a challenging FY23. The company expects the Infrastructure Investment and Jobs Act to drive demand. However, it is aware of risks associated with higher interest rates and a potential slowdown in nonresidential building construction.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:34 am

KEY

KeyCorp (NYSE:KEY) reported Q3 earnings of $0.29 per share, beating the analyst consensus estimate of $0.27 by 7.41%. However, this is a 47.27% decrease from the same period last year. The company also reported quarterly sales of $1.56 billion, meeting the analyst consensus estimate, but marking a 17.29% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:33 am

T

AT&T has reported a net addition of 550,000 postpaid subscribers and 468,000 phone net ads in Q3.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:33 am

SAP

SAP SE's Q3 FY23 financial results show a revenue growth of 4% Y/Y to €7.744 billion, with cloud revenue increasing 16% Y/Y to €3.472 billion. However, software licenses and support revenue declined 6% Y/Y to €3.208 billion. The company's non-IFRS operating profit rose 10% Y/Y to €2.28 billion, and non-IFRS EPS from continuing operations rose 32% Y/Y to €1.45. SAP's shares are up by around 5% following the announcement.

Portfolio Pulse from Lekha Gupta

October 19, 2023 | 10:28 am

TSLA

Tesla CEO Elon Musk stated that if Tesla vehicles were as cheap as a Toyota RAV4, no one would buy the Japanese SUV. Musk pointed out that many of the incentives for EVs, including tax credits, are difficult for the average person to access, making Tesla cars more expensive than a RAV4. Despite Tesla cutting prices on its vehicles since the start of 2023, rising interest rates have kept monthly payments relatively stable. Tesla's cheapest Model 3 RWD, even with a tax credit, is priced higher than the 2024 RAV4.

Portfolio Pulse from Anan Ashraf

October 19, 2023 | 10:17 am

EFX

Equifax Inc (NYSE:EFX) reported Q3 FY23 revenues of $1.319 billion, missing the consensus of $1.332 billion. The company also reduced its FY23 outlook due to the sluggish US mortgage market. Adjusted EPS rose 2% Y/Y to $1.76, below the consensus of $1.78. For 2023, the company reduced the outlook for revenues to $5.246 billion-$5.266 billion and adjusted EPS to $6.62-$6.72. EFX shares closed lower by 3.15% at $175.16 on Wednesday.

Portfolio Pulse from Lekha Gupta

October 19, 2023 | 10:17 am

FSLR

JP Morgan analyst Mark Strouse has upgraded First Solar (NASDAQ:FSLR) from Neutral to Overweight, but lowered the price target from $239 to $220.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:17 am