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CVNA

Exane BNP Paribas analyst Chris Bottiglieri has downgraded Carvana (NYSE:CVNA) from Outperform to Neutral.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:52 am

F

United Auto Workers (UAW) union members walked out of Ford Motor Co's Kentucky Truck Plant after a meeting with Ford officials lasted less than 10 minutes due to lack of a counteroffer. The walkout effectively shut down Ford's most profitable operation, which contributes $25 billion in annual sales, accounting for about a sixth of the company's global automotive revenue. The UAW has been on strike against Ford, General Motors Co, and Stellantis NV since mid-September, demanding better pay and other incentives.

Portfolio Pulse from Anan Ashraf

October 12, 2023 | 11:52 am

HYLN

Cantor Fitzgerald analyst Andres Sheppard has downgraded Hyliion Holdings (NYSE:HYLN) from Neutral to Underweight and lowered the price target from $2 to $1.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:50 am

DLTR

NOC

QCOM

SO

Insiders at Qualcomm, Dollar Tree, Northrop Grumman, and Southern Company have recently sold shares. Qualcomm's Chief Commercial Officer sold 1,000 shares following a Q3 revenue miss. Dollar Tree's CIO sold 1,259 shares after Exane BNP Paribas initiated coverage with an Outperform rating. Northrop Grumman's CVP & Pres. Defense Systems sold 1,007 shares after UBS initiated coverage with a Buy rating. Southern Company's CEO sold 5,000 shares after its subsidiary acquired a solar project.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 11:46 am

RITM

SCU

Rithm Capital has signed an amended definitive merger agreement to acquire Sculptor Capital Management for $12.00 per Sculptor Class A share, which is a 7.62% increase over the previously agreed price of $11.15.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:40 am

QDEL

QuidelOrtho has reaffirmed its FY23 sales guidance of $2.88B-$3.08B, which is in line with the consensus of $2.98B. The company also expects an adjusted EPS of $4.85-$5.30, slightly above the consensus of $4.90.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:36 am

TGT

B of A Securities analyst Robert Ohmes has upgraded Target (NYSE:TGT) from Neutral to Buy and raised the price target from $120 to $135.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:36 am

XOM

Truist Securities analyst Neal Dingmann has upgraded Exxon Mobil (NYSE:XOM) from Hold to Buy and raised the price target from $110 to $131.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:34 am

INFY

Infosys Limited has reduced its FY24 revenue growth guidance after reporting mixed Q2 results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:25 am

DAL

F

QQQ

SPY

US stock futures indicate a higher open on Thursday, following four consecutive sessions of gains. Delta Air Lines reported strong quarterly results, boosting expectations of healthy corporate profits this earnings season. The upcoming release of the consumer price inflation report for September is likely to influence market direction. Traders are factoring in a Fed pause and likely rate cuts next year, according to Morgan Stanley’s Lisa Shalett. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.44% and the Invesco QQQ ETF gained 0.40%. Ford Motor Co. fell over 2% in premarket trading after the United Auto Workers union extended the strike to the company’s Kentucky plant.

Portfolio Pulse from Shanthi Rexaline

October 12, 2023 | 11:23 am