Streetbeat News

Stock Prices

MKC

McCormick reported worse-than-expected Q3 sales results and issued guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:36 pm

ABNB

Airbnb's stock is trading lower following a downgrade from Keybanc, which changed its rating from Overweight to Sector Weight.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:34 pm

MKC

McCormick & Company reported Q3 FY23 sales growth of 6% YoY to $1.684 billion, missing the analyst consensus estimate of $1.70 billion. Consumer segment sales rose 1% to $937.1 million, and Flavor Solutions Segment increased 11.9% to $747.6 million. The company reaffirmed FY23 revenue growth guidance of 5% - 7% and raised FY23 Adjusted EPS outlook to $2.62 - $2.67 from $2.60 - $2.65. MKC shares are trading lower by 4.94% in premarket.

Portfolio Pulse from Shivani Kumaresan

October 03, 2023 | 12:33 pm

NVO

VTRS

Novo Nordisk A/S (NYSE:NVO) has successfully defended two pivotal patent claims related to the main ingredient in its weight-loss and diabetes drugs, Wegovy and Ozempic, against Viatris Inc (NASDAQ:VTRS). Viatris, through its subsidiary Mylan Pharmaceuticals, had challenged the patents in an attempt to produce generic versions of these drugs. However, the U.S. Patent Office tribunal ruled in favor of Novo Nordisk.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 12:32 pm

Goldman Sachs analyst Mark Delaney maintains a 'Sell' rating on QuantumScape (NYSE:QS) and has lowered the price target from $6 to $5.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:27 pm

LAZR

Goldman Sachs analyst Mark Delaney has maintained a 'Sell' rating on Luminar Technologies (NASDAQ:LAZR) and lowered the price target from $4.5 to $3.5.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:24 pm

COST

HOOD

KTOS

PACW

PLTR

PRGO

Jim Cramer, host of CNBC's 'Mad Money Lightning Round', gave his opinions on several stocks. He praised Energy Transfer LP (ET) and Kratos Defense & Security Solutions, Inc. (KTOS), and noted that Palantir Technologies Inc. (PLTR) had a good quarter and lived up to its hype, with its shares up over 148% in 2023. He recommended Costco (COST) over Perrigo Company plc (PRGO). He criticized Robinhood Markets, Inc. (HOOD) for not being profitable and advised against investing in PacWest Bancorp (PACW), whose stock is down more than 66% year-to-date.

Portfolio Pulse from Priya Nigam

October 03, 2023 | 12:23 pm

SLE

Super League (NASDAQ:SLE) announced a preliminary Q3 2023 revenue of approximately $7 million, a 55% increase YoY. The company attributes this growth to its ability to attract brands targeting younger audiences with innovative virtual world experiences. Despite recent capital market challenges, Super League has positioned itself for a sustainable future with diverse revenue streams and a healthy pipeline of advertising and publishing partnerships. The company also recently implemented a 1-for-20 reverse stock split to maintain compliance with Nasdaq listing requirements.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:20 pm

AZN

GSK

PFE

SNY

AstraZeneca has agreed to pay $425 million to settle U.S. lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec. The company continues to deny any wrongdoing. The settlement resolves product liability claims in New Jersey and Delaware. A case remains pending in Louisiana. AZN shares are up 0.27% in premarket trading.

Portfolio Pulse from Vandana Singh

October 03, 2023 | 12:18 pm

BGS

DEO

KDP

PPC

The article lists four consumer staples stocks that are currently oversold, presenting a potential buying opportunity. The stocks are B&G Foods, Inc. (BGS), Pilgrim's Pride Corporation (PPC), Keurig Dr Pepper Inc. (KDP), and Diageo plc (DEO). All four stocks have a Relative Strength Index (RSI) below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 12:18 pm