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LKNCY

Guming Holdings Ltd., a Chinese tea shop chain, has applied for a Hong Kong IPO, aiming to expand its franchise network and compete in China's mid-priced tea market. With 9,001 outlets, mostly franchised, Guming's profits tripled in the first nine months of last year. The company's success is attributed to its franchise model, competitive pricing, and focus on second- and third-tier cities. Guming faces competition from Mixue Group and established brands like Nayuki and Heytea, which are also adjusting prices to capture market share. Luckin Coffee (OTC:LKNCY) is also mentioned as a competitor in the beverage market.

Portfolio Pulse from The Bamboo Works

January 12, 2024 | 3:28 pm

CVS

TGT

WBA

CVS Health Corp is closing some of its pharmacies within Target stores due to shifts in market dynamics, consumer behavior, and health needs. The closures will start in February and end by April. Prescriptions will be transferred to nearby CVS locations. This is part of a broader industry trend of cost-cutting by U.S. pharmacy chains. CVS acquired Target's pharmacies in 2015 and recently introduced CVS 'CostVantage' for transparent drug cost reimbursement. Blue Shield of California will stop using CVS Caremark for drug benefits administration, except for specialty drugs. CVS shares fell 3.45% to $76.21.

Portfolio Pulse from Vandana Singh

January 12, 2024 | 3:27 pm

ACI

Four analysts have recently updated their ratings on Albertsons Companies (NYSE:ACI), with one bullish and three indifferent. The average 12-month price target is now $26.38, up from $25.00, with a high estimate of $27.25 and a low of $24.00. Albertsons, a major grocer in the U.S., is set to be acquired by Kroger in a $25 billion deal expected to close in 2024. The company's financials show solid revenue growth, high net margin, ROE, and ROA, but a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 3:00 pm

601899.SS

LUG.TO

Zijin Mining Group is investing $97 million in Solaris Resources to advance its Warintza copper project in Ecuador. Zijin will purchase 28.5 million shares at a 14% premium, becoming the second-largest shareholder with about 15% ownership. The investment will help Solaris leverage Zijin's expertise and financial capacity. Despite security concerns in Ecuador, mining operations continue with enhanced measures, and no foreign companies have left the country.

Portfolio Pulse from Stjepan Kalinic

January 12, 2024 | 2:59 pm

DAL

EADSY

Delta Air Lines Inc (DAL) shares dropped approximately 5% following its Q4 and fiscal 2023 results. Despite beating revenue consensus with $14.22 billion and adjusted EPS of $1.28, the company saw a decrease in adjusted operating income and margin, and a decline in cargo revenue and total revenue per available seat mile. Passenger load factor slightly decreased, while adjusted operating expenses and non-fuel costs rose. Delta reported strong liquidity and a reduction in adjusted net debt. The company also announced a purchase agreement with Airbus SE (EADSY) for twenty A350-1000s and a service agreement for Trent XWB-97 engines. DAL provided a positive outlook for 2024 with expected earnings growth and free cash flow generation.

Portfolio Pulse from Akanksha Bakshi

January 12, 2024 | 2:34 pm

INPX

Inpixon announced an update on its pending strategic transactions, including the anticipated closing of its combination with XTI Aircraft Company. The merged entity will operate under the name XTI Aerospace and will trade under the ticker 'XTIA'. An independent financial advisory firm valued XTI's enterprise value between $252 million and $343 million.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:04 pm

IFF

International Flavors & Fragrances (IFF) shares rose following the appointment of a new CEO and the reaffirmation of its FY23 guidance and strategic plan. Additionally, Jefferies upgraded IFF from Hold to Buy and increased the price target from $73 to $112.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:49 pm

JPM

JPMorgan CFO Jeremy Barnum commented on the current state of the Corporate and Investment Banking pipeline, describing it as robust but also acknowledging the presence of uncertainty, particularly as a headwind in the M&A sector. Additionally, he noted that the attrition rate within the company has decreased compared to previous periods.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:21 pm

AAPL

ARKW

EBAY

FLXS

GOOGL

HOOD

STLA

TSLA

Shiba Inu (SHIB) sees a 400% increase in token burns and $1.38M in whale acquisitions. Cathie Wood of Ark Invest predicts Bitcoin could reach $1.5M by 2030. Robinhood lists all Bitcoin Spot ETFs, while Elizabeth Warren criticizes SEC's approval of them. Flexsteel Industries reports strong preliminary results. Trump's town hall garners 4.4M views, and US sanctions Russian entities over missile purchases. Apple and Google make tech headlines with new initiatives and layoffs, respectively. Tesla faces a share price drop and announces a price cut in China. Stellantis invests in battery tech, and eBay settles a harassment case.

Portfolio Pulse from Akanksha Bakshi

January 12, 2024 | 1:04 pm

AAPL

ADBE

AMZN

AVGO

GOOG

IRBT

MSFT

NVDA

QCOM

EU Antitrust Chief Margrethe Vestager met with executives from Apple, Alphabet, and Qualcomm to discuss compliance with the Digital Markets Act and competition policies. The DMA targets 'gatekeepers' with over 45 million monthly users and a market cap of 75 billion euros, imposing interoperability and choice requirements. The EU has fined tech giants like Google and Microsoft for antitrust violations and is scrutinizing big mergers, including Microsoft's investment in OpenAI, Amazon's merger with iRobot, and Adobe's acquisition of Figma.

Portfolio Pulse from Anusuya Lahiri

January 12, 2024 | 12:59 pm