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QDEL

Bloomberg reported that QuidelOrtho is considering the sale of its transfusion medicine unit. The company is exploring options that could include a sale or spinoff of the business. The transfusion medicine unit is part of QuidelOrtho's broader diagnostics business, and the potential sale is part of a strategic review to streamline operations and focus on core areas.

Portfolio Pulse from Charles Gross

November 15, 2023 | 10:43 pm

COST

CVS

JNJ

MCD

PDD

PEP

SBUX

WMT

Bridgewater Associates, founded by Ray Dalio, has a portfolio heavily weighted towards consumer stocks, with significant stakes in Coca-Cola, Costco, and Walmart among others. The hedge fund's latest 13F filing for Q3 2023 shows a 40.63% investment in consumer discretionary and staples stocks. Bridgewater has increased its holdings in companies like Procter & Gamble, Coca-Cola, Costco, PepsiCo, Walmart, McDonald's, and CVS Health, while reducing positions in PDD Holdings, Starbucks, and Johnson & Johnson. This strategy aligns with the recent dip in U.S. inflation, suggesting a potential shift in the economic environment.

Portfolio Pulse from Surbhi Jain

November 15, 2023 | 9:32 pm

GWW

W.W. Grainger (NYSE:GWW) has delivered an average annual return of 18.75% over the past 15 years, outperforming the market by 6.12% annually. A $100 investment in GWW 15 years ago would be worth $1,326.44 today. The company's current market capitalization stands at $39.45 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 9:30 pm

ADSK

Over the past 20 years, Autodesk (NASDAQ:ADSK) has produced an average annual return of 15.82%, outperforming the market. A $100 investment in ADSK 20 years ago would be worth $1,918.42 today. Autodesk's market capitalization currently stands at $46.20 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 9:30 pm

GCI

Gannett Co., Inc. has announced that it will repurchase $14 million of its 6% first lien notes due on November 1, 2026, for approximately $12 million. This transaction indicates that the company is buying back its debt at a discount, which could be a sign of financial prudence and an attempt to reduce its debt burden.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:29 pm

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) reported its October 2023 operating data, showing a 2% decrease in Assets Under Custody (AUC) to $84.6 billion from September 2023. Net Cumulative Funded Accounts (NCFA) slightly increased by 30 thousand. Net Deposits were $1.0 billion, with a 14% annualized growth rate from September 2023 and a 24% annual growth rate from October 2022. Trading volumes for equities, options, and crypto increased, with crypto volumes up 92%. Margin balances decreased by 3%, while Cash Sweep Balances increased by 2%. The information is unaudited and preliminary, subject to financial closing procedures.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:25 pm

ARGX

$1000 invested in argenx (NASDAQ:ARGX) 5 years ago would now be worth $5,592.80, with the stock outperforming the market with an annualized return of 41.81%. The company's market cap stands at $29.15 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 9:00 pm

ODFL

Over the past 20 years, Old Dominion Freight Line (NASDAQ:ODFL) has produced an average annual return of 25.61%, outperforming the market by 18.1% annually. A $1000 investment in ODFL 20 years ago would be worth $98,703.41 today. The company's current market capitalization is $44.17 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 9:00 pm

AIQ

BABA

BTCUSD

NIO

PDD

QQQ

SPY

TAN

President Joe Biden and Chinese leader Xi Jinping met in California to discuss cooperation on climate change and AI, marking a historic summit. They emphasized the importance of the U.S.-China relationship and the need to work together on global challenges. Markets reacted modestly to the news, with slight gains in the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ). The Global X Artificial Intelligence & Technology ETF (AIQ) and the Invesco Solar ETF (TAN) saw more significant increases, while Chinese stocks like Alibaba (BABA), PDD Holdings (PDD), and NIO Inc. (NIO) rallied. Bitcoin (BTCUSD) also experienced a surge, possibly influenced by Commerzbank AG's new cryptocurrency custody license in Germany.

Portfolio Pulse from Piero Cingari

November 15, 2023 | 8:50 pm

BTC-USD

FTT-USD

CFTC Chairman Rostin Behnam warned of the potential for another major cryptocurrency market collapse like FTX's, citing U.S. regulatory limitations. Speaking at Georgetown University, he noted the changed crypto investing climate and the CFTC's limited authority, particularly in direct asset trading markets such as Bitcoin. U.S. legislation to expand the CFTC's jurisdiction is stalled, with Congress focused on other issues. Behnam also discussed the CFTC's challenges with prediction markets, specifically regarding political-outcome betting contracts.

Portfolio Pulse from Murtuza Merchant

November 15, 2023 | 8:36 pm