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The Bank of America's Global Fund Manager Survey for November indicates a bullish outlook for large-cap tech stocks into 2024, with fund managers increasing their positions in anticipation of a soft economic landing, lower interest rates, and a weaker U.S. dollar. The survey shows a net 38% long on big tech, with significant year-to-date stock price increases for Alphabet Inc. (GOOG/GOOGL), Microsoft Corp (MSFT), Intel (INTC), and Apple Inc. (AAPL). The dollar index's decline and a shift towards U.S. and Japanese equities are also highlighted.

Portfolio Pulse from Neil Dennis

November 14, 2023 | 4:26 pm

GME

IBKR

At the Benzinga Fintech Deal Day & Awards, industry experts discussed shifts in investor behavior post-Covid, with a focus on retail engagement and technology. Stocktwits CEO Rishi Khanna noted a decline in market entry pace and a move past the memestock craze. eToro's U.S. CEO Lule Demmissie highlighted technology and access as growth drivers, with a focus on fixed income and AI innovation. UpLeg's Abdul Zoheb emphasized educational content and trading technology. Interactive Brokers' Steve Sanders reported an uptick in accounts during volatility and a recent surge in bond interest.

Portfolio Pulse from Surbhi Jain

November 14, 2023 | 4:17 pm

BKR

Baker Hughes (NASDAQ:BKR) is analyzed against competitors in the Energy Equipment & Services industry. BKR shows potential undervaluation with a P/E ratio of 20.64, below the industry average, and a P/B ratio of 2.27. However, its P/S ratio is higher than average, suggesting possible overvaluation in sales. BKR's ROE is lower than the industry average, indicating potential inefficiency. The company's EBITDA and gross profit are significantly above the industry average, and it has a strong revenue growth of 23.69%. BKR's lower debt-to-equity ratio compared to top peers suggests a healthier balance sheet.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:00 pm

BIIB

The article provides an industry comparison of Biogen (NASDAQ:BIIB) against its competitors in the Biotechnology industry, focusing on financial metrics such as P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, revenue growth, and debt-to-equity ratio. Biogen appears undervalued based on P/E, P/B, and P/S ratios compared to industry averages, but shows potential inefficiencies with a negative ROE, lower EBITDA, gross profit, and revenue growth. The company's lower debt-to-equity ratio suggests a stronger financial position relative to its top 4 peers.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:00 pm

BTCUSD

Alex Konanykhin, CEO of Unicoin, compared the crypto market to the early days of the Internet at the Benzinga Future of Digital Assets event. He highlighted Bitcoin's growth and the crypto market's peak capitalization, while acknowledging its volatility and current market cap of $1.4 trillion. Konanykhin sees cryptocurrencies as a natural evolution of money and noted the lack of regulations in the sector, referencing the collapse of FTX. He presented Unicoin as a regulated alternative aiming to attract institutional investors.

Portfolio Pulse from Murtuza Merchant

November 14, 2023 | 3:53 pm

ARKK

TARK

TSLA

Tesla, Inc. (TSLA) opened over 5% higher on Tuesday, influencing the Ark Innovation ETF (ARKK) and the AXS 2X Innovation ETF (TARK) to gap up over 4% and 8%, respectively. TARK, which seeks to deliver 200% of the daily performance of ARKK, benefited from Tesla's surge due to ARKK's 8.53% Tesla weighting. Technical analysis suggests TARK may encounter resistance at the 200-day SMA, and bearish traders might look for volume decline to anticipate a potential pullback.

Portfolio Pulse from Melanie Schaffer

November 14, 2023 | 3:48 pm

SPY

Cody Carbone expresses a bearish stance on a particular ETF, which is facing new pressures from major financial institutions BlackRock and Fidelity. Meanwhile, U.S. SEC Chair Gary Gensler reaffirms his position despite facing pressure and being presented with facts.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 3:20 pm

COIN

Katherine Wu, a shareholder in Coinbase, revealed during the Q3 shareholder meeting that 52 million people own cryptocurrency, with ownership rates increasing among younger demographics.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 3:17 pm

NEM

Newmont's (NYSE:NEM) short interest has decreased by 12.18% since the last report, with 44.27 million shares sold short, representing 4.18% of available shares. The average time to cover these short positions is 2.49 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Newmont has a higher short interest than its peer group average of 3.81%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 3:15 pm

CTVA

Corteva (NYSE:CTVA) has seen a decrease in short interest, with the short percent of float dropping 3.01% since the last report. The company has 8.03 million shares sold short, which is 1.29% of available shares for trading, taking an average of 2.33 days to cover. This decline in short interest may indicate a more bullish sentiment among investors. Corteva's short interest is below its peer group average of 3.97%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 3:15 pm