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Shares of several hotel, restaurant and leisure stocks are trading lower due to overall market weakness and a rise in Treasury yields following CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:39 pm

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US Secretary of State Antony Blinken visited Israel to reaffirm US support amid Hamas attacks. The US Department of Defense has increased support by ordering additional advanced fighter jets to be deployed in the region. The US government will commence charter flights for US citizens looking to leave Israel. The markets experienced a sudden downturn due to escalating geopolitical tensions and a higher-than-expected increase in inflation in September. The S&P 500 index, as monitored through the SPDR S&P 500 ETF Trust (NYSE:SPY), experienced a significant 0.9% decline. The Invesco QQQ Trust (NASDAQ:QQQ) was down by 0.8%. The iShares MSCI Israel ETF (NYSE:EIS) saw a substantial drop of 1.8%. The ARK Israel Innovative Technology ETF (NYSE:IZRL) plummeted by 2.3%. The iShares MSCI Qatar ETF (NYSE:QAT) declined by 2.3%. The iShares MSCI Emerging Index Fund (NYSE:EEM) registered a 1.2% decrease.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 7:38 pm

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Automobile stocks are trading lower due to overall market weakness and a rise in Treasury yields following CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:35 pm

STZ

Constellation Brands (NYSE:STZ) has seen unusual options activity, with a significant bearish stance taken by investors. Of the 11 strange trades detected, 72% were bearish and 27% bullish. The total amount for the 7 puts was $784,960 and for the 4 calls was $292,960. Whales have been targeting a price range from $195.0 to $235.0 for Constellation Brands over the last 3 months. The stock is currently down -4.22% at $228.91. Analysts from JP Morgan and Goldman Sachs maintain their Overweight and Buy ratings respectively, while Truist Securities and Wedbush have downgraded their actions.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 7:32 pm

ETWO

E2open Parent Holdings, Inc. (NYSE:ETWO) shares rebounded on Thursday after a strong selloff on Wednesday following the release of the company's second-quarter earnings report. The company missed analyst consensus estimates for both earnings per share and quarterly sales. On Thursday, the company's price target was lowered by two analysts, Redburn Atlantic and Goldman Sachs.

Portfolio Pulse from Ryan Gustafson

October 12, 2023 | 7:31 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) shares are trading lower by 3.05% due to a broader market decline triggered by the release of September's Consumer Price Index (CPI). The rising inflation can reduce consumer purchasing power, potentially impacting PayPal's transaction volumes and revenue. It can also lead to increased competition in the financial sector, affecting PayPal's market share and profitability.

Portfolio Pulse from Henry Khederian

October 12, 2023 | 7:30 pm

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GCO

GME

LOW

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PLCE

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Shares of several retail companies are trading lower due to overall market weakness following a rise in Treasury yields after the release of CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:30 pm

AGIL

ARM

Shares of several tech companies are trading lower due to overall market weakness following a rise in Treasury yields after the release of CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:28 pm

AMPX

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BCC

Shares of several industrial sector companies are trading lower due to overall market weakness following a rise in Treasury yields after the release of CPI data.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 7:27 pm

ESTC

Needham analyst Mike Cikos initiated coverage on Elastic N.V. (ESTC) with a Hold rating. Cikos views the consensus estimate for cloud revenue growth as too aggressive, especially for H2 FY25. He expects a reduction in the anticipated growth of cloud business, which could negatively impact the share price. However, a slower shift toward cloud revenue could benefit ESTC's gross margin due to its narrower margin relative to self-managed deployments.

Portfolio Pulse from Lekha Gupta

October 12, 2023 | 7:26 pm