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NTES

TCEHY

Tencent Holdings Ltd (TCEHY) launched a new game 'DreamStar', seen as a competitor to NetEase Inc's (NTES) 'Egg Party'. DreamStar is part of Tencent's 1.4 billion yuan investment in game development. JPMorgan analysts predict DreamStar could reduce NetEase's revenue by 2-3%, leading to a reduction in revenue forecasts for NetEase for the next two quarters. Goldman Sachs estimates DreamStar could earn 5-6 billion yuan in its first year, while Egg Party is expected to generate 7-8 billion yuan annually. NetEase recently became China's fourth-largest internet company, but Tencent remains the largest. NTES shares dropped by 1.24% to $103.14.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 7:49 pm

COST

DIA

EXC

FSLR

GLD

KRE

QQQ

SPY

STLD

TAN

UUP

XLK

XLRE

U.S. stocks have seen their seventh consecutive week of gains, with the Nasdaq 100 nearing all-time highs and the Dow Jones reaching new highs but in an overbought condition. Small-cap stocks saw a decline but are still on a winning streak. The dollar rose, influenced by comments from the New York Federal Reserve, while gold and Bitcoin fell. Sector-wise, real estate fell after a previous rally, while technology gained. Solar stocks and regional banks saw mixed results. Notable stock movements included First Solar, Steel Dynamics, Costco, Exelon, and Boeing, driven by analyst ratings and earnings reports.

Portfolio Pulse from Piero Cingari

December 15, 2023 | 7:04 pm

DHR

Danaher Corporation (NYSE:DHR) has seen a 30.34% increase in short interest since the last report, with 7.64 million shares sold short, representing 1.16% of available shares. It would take about 2.74 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Danaher has less short interest compared to its peer group average of 5.79%. The rise in short interest does not necessarily predict a stock price decline.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:45 pm

PGR

Progressive (NYSE:PGR) has seen a decrease in short interest, with a 7.89% drop since the last report, now standing at 4.10 million shares sold short, or 0.7% of available shares. The average time to cover these short positions is 2.07 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. Progressive's short interest is below its peer group average of 1.79%.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:45 pm

Citigroup, Inc. (NYSE:C) is planning to separate its Mexican retail unit Banamex from its corporate and investment banking business in Mexico by the second half of 2024. Banamex is expected to go public in 2025. Earlier, Citi halted a $7 billion sale of Banamex, surprising investors. Negotiations with Grupo Mexico were discontinued due to the Mexican government's involvement in Grupo Mexico's activities and specific sale demands. Citi is considering a dual stock listing in Mexico and New York.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 6:34 pm

NTES

NetEase (NYSE:NTES) has seen a 16.07% increase in short interest since its last report, with 4.14 million shares sold short, representing 0.65% of available shares. The short interest is below the peer group average of 3.62%. While higher short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:30 pm

NET

Cloudflare (NYSE:NET) has seen a decrease in short interest, with the short percent of float dropping 8.43% since the last report. The company has 18.57 million shares sold short, representing 7.06% of available shares. The current short interest exceeds the peer group average of 6.10%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:30 pm

CMG

Options trading activity for Chipotle Mexican Grill (NYSE:CMG) indicates a bearish sentiment among traders, with 68% of the unusual trades being bearish. The trades include 10 puts and 56 calls, with a focus on a price range between $900 and $3100. The largest trades observed were mostly calls with bearish sentiment, except for one bullish put trade. Chipotle is a leading fast-casual restaurant chain with $8.6 billion in sales in 2022. CMG's stock price is slightly up, with RSI indicators suggesting it may be approaching overbought territory. Analysts from Raymond James and RBC Capital maintain an Outperform rating with target prices of $2450 and $2425, respectively.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:16 pm

BFIN

BankFinancial Corporation (BFIN) has extended its share repurchase program from January 15, 2024, to December 15, 2024, and expanded the program by 200,000 shares. As of December 14, 2023, the total number of shares authorized for repurchase is 213,625. The repurchases will be made at management's discretion and are subject to various limitations, including market conditions and liquidity. The program does not obligate the company to purchase any specific number of shares and can be modified, suspended, or terminated at any time.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 5:40 pm

MGRX

Mangoceuticals has priced a public offering of 4 million shares at $0.30 per share, aiming to raise $1.2 million. This has led to a decline in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 5:36 pm