Streetbeat News

Stock Prices

MCW

Baird has upgraded Mister Car Wash's stock from Neutral to Outperform and set a price target of $10. This has resulted in the company's shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:32 pm

VLCN

Volcon Inc. (NASDAQ:VLCN) has announced a 1-for-5 reverse stock split, effective from October 13, 2023. Post-split trading will commence on The Nasdaq Capital Market on October 16, 2023. The reverse split will reduce the number of outstanding shares from approximately 33.55 million to around 6.71 million, while the number of authorized shares will remain at 250 million.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:30 pm

MIND

MIND Technology, Inc. has announced a 1-for-10 reverse stock split. The company's common stock will begin trading on Nasdaq on a reverse split-adjusted basis when the market opens on October 16, 2023. The par value per share of the common stock will remain unchanged at $0.01.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:29 pm

DIS

NFLX

Netflix Inc plans to launch immersive venues named 'Netflix House' where fans can engage in activities related to their favorite TV shows, shop for merchandise, and enjoy themed cuisines. The first two venues are expected to open in the U.S. by 2025, with plans to expand globally thereafter. This move marks Netflix's first venture into permanent locations and is seen as a promotional tool rather than a significant revenue stream. Wolfe Research analyst Peter Supino downgraded Netflix from Outperform to Peer Perform.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 1:29 pm

JPM

JP Morgan's CFO has indicated that the company could experience some upward pressure on margins as expenses increase.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:29 pm

BDC

Belden Inc has disclosed its Q3 FY23 preliminary results, reducing its revenue expectations from $675 million-$690 million to $625 million due to weaker-than-expected end-demand in both segments. The company also reduced the higher end of its previous adjusted EPS outlook from $1.75-$1.85 to $1.75-$1.77. Belden's shares closed lower by 16.03% at $80.00 after-hours on Thursday.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 1:27 pm

HTOO

RBC Capital analyst Erwan Kerouredan has maintained a 'Sector Perform' rating on Fusion Fuel Green (NASDAQ:HTOO) but lowered the price target from $7 to $3.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:27 pm

STKL

SunOpta has announced the sale of certain frozen fruit assets to Nature's Touch for $141 million and issued preliminary Q3 results. This has led to a rise in SunOpta's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:26 pm

C

Citigroup Inc reported a 9% YoY net revenue growth in Q3 FY23 to $20.14 billion, beating the consensus of $19.32 billion. EPS of $1.63 also beat the consensus of $1.21. The company's Institutional Clients Group revenue and Personal Banking and Wealth Management revenue increased by 12% and 10% respectively. However, Legacy Franchises' revenues decreased by 13%. Net income for the quarter was $3.55 billion, up 2% YoY. The company reiterated its FY23 adjusted revenue outlook of $78 billion - $79 billion.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 1:24 pm

BYDDY

LI

NIO

XPEV

Nio Inc. (NYSE:NIO) has entered the insurance business by acquiring Anhui-based Huiding Insurance Broker Company Limited, now renamed as Nio Insurance Broker Company Limited. This move aligns Nio with other Chinese EV manufacturers like Li Auto Inc (NASDAQ:LI), BYD Company Limited (OTC:BYDDY), and Xpeng Inc (NYSE:XPEV) who have their own insurance subsidiaries. Nio's sales have been increasing, delivering 50% more vehicles in September in China than the previous year.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 1:23 pm