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MAT

Despite the success of 'Barbie', Mattel's stock performance has been lackluster, attracting activist investor Barington Capital Group's attention. Barington is pushing for changes, including $2 billion in stock buybacks, and the potential sale of the American Girl and Fisher-Price brands. Mattel's stock has underperformed the S&P 500 by over 20% in the two years before Barington's campaign. Despite a 7% rise in February, challenges remain with declining annual net income and soft toy industry sales. Mattel plans to focus on profit growth and new product introductions in the coming year.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 4:50 pm

BUYW

INTL

QQQ

SECT

SMH

TMAT

The trend of mutual funds converting into ETFs is expected to continue in 2024, driven by the popularity and advantages of ETFs, such as ease of access, transparency, and tax efficiency. Main Management, led by Darol Ryan, focuses on ETFs-of-ETFs, with its Main Sector Rotation ETF (SECT) closely tracking the S&P 500's performance. SECT's success is attributed to its investments in high-performing sectors like technology and health care, with significant holdings in the Invesco QQQ Trust (QQQ) and the VanEck Semiconductor ETF (SMH). Main Management also offers the Main Thematic Innovation ETF (TMAT), the Main International ETF (INTL), and the Main BuyWrite ETF (BUYW), each targeting different investment strategies.

Portfolio Pulse from Neil Dennis

February 28, 2024 | 4:44 pm

ODP

The ODP Corp (NASDAQ:ODP) reported a Q4 fiscal 2023 sales decline of 14.3% year-over-year to $1.81 billion, missing consensus estimates. Despite the revenue dip, adjusted EPS improved to $0.92, beating expectations. The company announced 'Project Core' to streamline operations and a new $1 billion share repurchase program. ODP expects a 2%-5% sales decline in 2024 but remains cautious about the macroeconomic environment.

Portfolio Pulse from Akanksha Bakshi

February 28, 2024 | 4:21 pm

APLT

Applied Therapeutics Inc (NASDAQ:APLT) shares surged after the FDA accepted the New Drug Application for govorestat (AT-007) for Classic Galactosemia, granting it Priority Review with a PDUFA date of August 28, 2024. The drug, potentially the first treatment for Galactosemia, also received Pediatric Rare Disease designation. Additionally, the company announced a $100 million private placement to fund govorestat commercial activities and other projects, expecting to sustain the business into 2026.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 4:01 pm

MRK

MRNA

MYNZ

Merck's Phase 3 LEAP-001 trial for endometrial carcinoma treatment with Keytruda failed, reflecting challenges in treating advanced cancers. Despite this, Merck is progressing with trials for a mRNA vaccine developed with Moderna against melanoma and plans to test it against other cancers. Merck also signed a $45 million licensing agreement with Inspirna for colorectal cancer treatment. Mainz Biomed showcased its ColoAlert® diagnostic solution at the Gynecology Congress, emphasizing the role of gynecologists in colorectal cancer screening and surpassing traditional methods by detecting tumor DNA and pre-cancerous lesions.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 3:54 pm

ADT

ADT Inc. reported a 7.2% decline in Q4 fiscal 2023 sales to $1.22 billion, missing expectations. However, adjusted EPS of $0.25 beat the consensus of $0.04. The company announced exiting its residential solar business, reduced debt by $2.1 billion, and expects 2024 CSB segment revenue of $4.8-$5.0 billion with adjusted EPS of $0.60-$0.70. ADT shares rose 7.5% to $7.02.

Portfolio Pulse from Akanksha Bakshi

February 28, 2024 | 3:52 pm

BMY

LLY

NVO

Eli Lilly (LLY) plans to introduce its obesity drug, tirzepatide, in India next year, competing with Novo Nordisk's (NVO) Wegovy. Bristol Myers Squibb (BMY) is expanding its R&D in India, with a $100-million facility in Hyderabad to become its largest unit outside the U.S. by 2025. The companies aim to tap into the Indian market, emphasizing the need for better patent protection and policy reforms in India.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 3:46 pm

ACB

CURLF

TLRY

Pablo Zuanic forecasts Germany's medical cannabis market to grow to €1.7 billion by 2025, driven by legislative changes and increased accessibility. Canadian companies Aurora (ACB) and Tilray (TLRY), along with Curaleaf (CURLF) through its German subsidiary Four20 Pharma, are well-positioned to benefit from this growth. The introduction of cannabis social clubs and easier prescription processes are key growth drivers.

Portfolio Pulse from Nicolás Jose Rodriguez

February 28, 2024 | 3:45 pm

LKNCY

SBUX

Baicha Baidao Industrial Co. Ltd., operating as Chabaidao, has filed for an IPO in Hong Kong, aiming to capitalize on its rapid growth in China's premium tea market. With a 34.8% revenue increase in 2023 to 5.7 billion yuan and a consistent profit over the past three years, Chabaidao plans to expand by targeting lower-tier cities, moving overseas, and diversifying into coffee. The company, a top-three player in China's tea market, faces stiff competition in a saturating market but has outlined strategies for continued growth.

Portfolio Pulse from The Bamboo Works

February 28, 2024 | 3:01 pm

SKGR

Webull Corporation is going public through a SPAC merger with SK Growth Opportunities Corporation (NASDAQ:SKGR), valuing Webull at $7.3 billion. The merger will see Webull, a digital investment platform with over 20 million users and significant trading volumes, list under a new ticker. Investors include General Atlantic and Coatue Management. SKGR's stock rose 5% on the announcement.

Portfolio Pulse from Chris Katje

February 28, 2024 | 2:48 pm