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AAPL

AMZN

INTC

MSFT

Amazon.com Inc (NASDAQ:AMZN) is set to join the Dow Jones Industrial Average on Feb. 26, causing its stock to trade higher. Historical examples like Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), and Intel (NASDAQ:INTC) show that joining the DJIA might lead to initial stagnant stock performance before significant growth. However, Amazon's current technical setup suggests a favorable outlook, with indicators like the 50-day and 200-day SMAs supporting a 'Buy' signal. Investors are advised to be cautious due to the mixed historical performance of tech stocks upon Dow inclusion.

Portfolio Pulse from Surbhi Jain

February 21, 2024 | 6:31 pm

DOOR

Stifel analyst Stanley S. Elliott downgraded Masonite International Corporation (NYSE:DOOR) to Hold from Buy, raising the price target to $133 from $119, following mixed Q4 results with revenue and EPS below consensus. The downgrade reflects gains in North America offset by struggles in Europe and Architectural. Additionally, Owens Corning Inc (NYSE:OC) is set to acquire Masonite for $133 per share, a deal expected to close by mid-2024 without anticipated regulatory hurdles. The acquisition aligns with the ongoing consolidation in the building products industry. Masonite's 'Doors That Do More' strategy is expected to drive consistent revenue and margin performance.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 6:11 pm

ARKB

ARKK

COIN

SARK

TARK

Coinbase (NASDAQ:COIN) experienced a significant Bitcoin withdrawal, leaving it with its lowest reserve since 2015. Despite this, the company's financials remain strong, with a positive net income and EBITDA. Cathie Wood's ARK Innovation ETF (NYSE:ARKK) holds COIN as its largest asset, and the ARK 21Shares Bitcoin ETF (NYSE:ARKB) was among the first of its kind. The AXS 2X Innovation ETF (NASDAQ:TARK) and AXS Short Innovation Daily ETF (NASDAQ:SARK) offer leveraged and inverse exposure to ARKK, respectively.

Portfolio Pulse from Johnny Rice

February 21, 2024 | 5:49 pm

Li Auto Inc.'s CEO, Li Xiang, has called on the Chinese government to facilitate mergers and acquisitions among struggling electric vehicle (EV) manufacturers to avoid social losses from company failures. He highlighted the need for industry consolidation, citing the U.S. Big Three auto giants as an example. This comes amid a slow start to the year for China's new-energy vehicle sales, with January shipments to dealers dropping 37% compared to December. The intense competition in China's EV market has led to a significant reduction in the number of manufacturers, from around 500 in 2019 to about 100 last year.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 5:43 pm

TBI

Vertical Staffing Resources Inc. (VSR) has announced the acquisition of PeopleReady's Canadian staffing operations from TrueBlue Inc. (NYSE:TBI). This strategic move aims to expand VSR's geographical footprint across Canada, diversify into new industry verticals, and meet the growing demand for on-demand labor. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:32 pm

AVGO

NVDA

TSLA

TSM

Broadcom Inc (NASDAQ:AVGO) has seen a 10% increase in shares, potentially positioning it to overtake Tesla Inc (NASDAQ:TSLA) in market capitalization. This comes as Tesla's shares have slumped 22%. Broadcom's upcoming quarterly earnings on March 7 are highly anticipated, with expectations of significant revenue and earnings growth, partly due to its acquisition of VMWare. Comparatively, Nvidia Inc (NASDAQ:NVDA) has outperformed with a 235% gain in shares, but both Broadcom and Nvidia face potential volatility ahead of Nvidia's earnings report. Analysts remain bullish on Broadcom, with several raising their price targets.

Portfolio Pulse from Neil Dennis

February 21, 2024 | 5:24 pm

WETH

Wetouch Technology Inc. (NASDAQ:WETH) announced a public offering of 2,160,000 shares at $5.00 each, aiming to raise $10.8 million for a new factory, R&D, debt repayment, and general purposes. The offering, underwritten by WestPark Capital, Craft Capital Management, and R.F. Lafferty, is expected to close on February 23, 2024. Wetouch's stock has also been approved for listing on the Nasdaq Capital Market under the ticker 'WETH' and will start trading on February 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:01 pm

XBRAF

Xebra Brands Ltd. (OTCQB:XBRAF) has entered into a CBD supply agreement with ICAN Green S.A. de C.V. to provide CBD isolate to Desart MX, a division of Xebra, for manufacturing legal CBD products in Mexico. This deal, exclusive for two years with potential annual renewals, positions Xebra as the only company in Mexico with federal approval for comprehensive cannabis operations. The agreement aims to accelerate the commercialization of CBD products in Mexico, leveraging ICAN's reputation in Latin America.

Portfolio Pulse from Patricio Liddle

February 21, 2024 | 4:59 pm

INTC

Intel launched Intel Foundry, aiming to be a leading systems foundry for the AI era, with a focus on sustainability. It announced an expanded process roadmap, including the Intel 14A process and specialized node evolutions. Microsoft plans to produce a chip design on Intel 18A process. Ecosystem partners like Synopsys, Cadence, Siemens, and Ansys are ready to support Intel Foundry customers. Intel aims for leadership in process technology by 2025 and has design wins across several process generations. The company also introduced collaborations for Arm-based SoCs and aims to be the most sustainable foundry.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 4:33 pm

MPW

Medical Properties Trust (MPW) reported Q4 FY23 revenues of $336.6 million, surpassing consensus estimates but experienced a decline in NFFO per share to $0.36 from $0.43 a year ago. The company reported a net loss of $(664) million, significantly higher than the previous year's $(140) million. Total assets were $18.3 billion, with a focus on accelerating capital allocation strategy for 2024. Uncertainty around hospitals leased to Steward and liquidity transactions led MPW to withhold FY24 guidance.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 4:28 pm