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Goldman Sachs predicts a bullish stock market for 2024, with the S&P 500 reaching 4,700, a 5% price gain, and a 6% total return. The firm expects the U.S. economy to expand modestly, avoiding recession, and corporate earnings to rise by 5%. The 'Magnificent 7' tech stocks are anticipated to continue outperforming, and Goldman Sachs recommends focusing on quality stocks, growth stocks, and undervalued cyclicals, highlighting specific sectors like Information Technology, Health Care, and Energy for investment.

Portfolio Pulse from Piero Cingari

November 16, 2023 | 8:51 pm

BATRA

BATRK

BRK

Warren Buffett's Berkshire Hathaway Inc. disclosed a new position in Atlanta Braves Holdings Inc, owning 223,645 shares valued at around $8 million. The stake was acquired through a distribution to shareholders of Liberty Formula One Group, an existing Berkshire portfolio company. The Braves, a publicly traded MLB team, have a strong performance record and are favorites to win the 2024 World Series. Buffett, a baseball fan, has previously owned a stake in the Omaha Storm Chasers and has been interested in other MLB teams.

Portfolio Pulse from Chris Katje

November 16, 2023 | 8:27 pm

Goldman Sachs Gr (NYSE:GS) has seen a 6.73% increase in short interest since its last report, with 3.61 million shares sold short, representing 1.11% of its float. The short interest is below the peer group average of 3.66%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 8:00 pm

FIXX

PLCE

SONO

UTI

VLCN

WAVD

WSM

U.S. stocks traded lower with the Dow Jones falling over 100 points. Utilities shares surged by 1%, while energy shares fell by 2.2%. Williams-Sonoma (NYSE:WSM) reported better-than-expected Q3 adjusted earnings, beating EPS estimates but falling short on sales expectations. Sonos (NASDAQ:SONO) shares rose 18% after strong Q4 results. WaveDancer (NASDAQ:WAVD) shares jumped 68% due to a merger agreement with Firefly Neuroscience. Universal Technical Institute (NYSE:UTI) gained 14% following strong sales. Volcon (NASDAQ:VLCN) plunged 64% after announcing a public offering. The Children's Place (NASDAQ:PLCE) dropped 29% after weak earnings. Homology Medicines (NASDAQ:FIXX) fell 38% after announcing a merger with Q32 Bio. Gold prices increased by 1.2%, and oil prices declined by 5.7%.

Portfolio Pulse from Lisa Levin

November 16, 2023 | 7:30 pm

AAPL

BRK

GLD

SOXX

The latest 13F filings show significant portfolio changes by major hedge funds. Berkshire Hathaway's top buys were LSXMA and SIRI, with sells including ATVI and GM. Bridgewater Associates increased stakes in consumer brands and bought SLB and AVGO, selling JNJ and VWO. Greenlight Capital invested in GLD and stocks in the material and energy sectors. Scion Asset Management bet against the semiconductor space with puts on SOXX and against BKNG. Pershing Square Capital bought more GOOGL, HLT, and HHH, selling some LOW.

Portfolio Pulse from Surbhi Jain

November 16, 2023 | 6:12 pm

The CEO of Cruise has informed employees that the company is canceling its Q4 tender offer, effective immediately. This decision could impact the financial expectations of employees and potentially reflect on the company's current financial strategy or liquidity.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:03 pm

UNH

UnitedHealth Group (NYSE:UNH) has seen a decrease in short interest, with the current level at 5.95 million shares or 0.64% of float, down 4.48% since the last report. The short interest is lower than the peer group average of 3.33%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 6:00 pm

WBD

Warner Bros. Discovery (NYSE:WBD) has seen an 11.61% increase in short interest since the last report, with 102.05 million shares sold short, representing 4.23% of available shares. It would take about 5.81 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, WBD has a lower short interest as a percentage of float, with the peer group average at 6.92%.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 6:00 pm

BCDA

BioCardia, Inc. has announced a registered direct offering of 2 million shares at a price of $0.65 per share, aiming to raise $1.3 million in capital.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:59 pm

ECAT

Boaz Weinstein, founder of Saba Capital Management, has publicly urged BlackRock's CIO Rick Rieder to merge BlackRock ESG Allocation Trust (ECAT) with one of BlackRock's ESG mutual funds. Weinstein suggests this would eliminate the discount on ECAT shares and create a $200 million windfall for investors. Saba Capital recently increased its stake in ECAT to 19,025,530 shares, making it 7.5% of Saba's holdings and 18.6% of ECAT. Weinstein's strategy reflects a trend among hedge funds to invest in undervalued closed-end funds and push for actions that realize their underlying value.

Portfolio Pulse from Neil Dennis

November 16, 2023 | 5:56 pm