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The Bank of Japan's (BOJ) potential shift away from yield control is causing significant movement in the yen and impacting global stock markets, including the U.S. The yen's rise is affecting strategies that involve borrowing in yen to invest in U.S. markets. JPMorgan Chase CEO Jamie Dimon expressed a desire to shut down cryptocurrencies if possible. U.S. jobless claims came in slightly below consensus, which may influence the Fed's rate decisions. European GDP contraction supports the expectation of rate cuts. Positive early money flows are seen in major tech stocks, while mixed flows are observed in SPY and QQQ ETFs. Gold and oil are seeing buying interest due to the yen's move. Bitcoin experiences a pullback after recent retail investor enthusiasm. The Arora Report advises investors to maintain a protection band strategy to balance risk and opportunity.

Portfolio Pulse from The Arora Report

December 07, 2023 | 6:00 pm

BASE

Stifel analyst Brad Reback has maintained a Buy rating on Couchbase (NASDAQ:BASE) and increased the price target from $22 to $24.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:58 pm

BASE

Couchbase, Inc. (NASDAQ:BASE) exceeded Q3 earnings expectations with an adjusted loss of 8 cents per share versus the estimated 18 cents and reported sales of $45.81 million against the expected $43.10 million. The company also provided a strong FY24 revenue outlook of $176.2 to $176.8 million, surpassing the $173.52 million estimate. Despite the positive results, Couchbase shares dropped 3.8% to $19.18. Following the earnings report, Morgan Stanley and RBC Capital raised their price targets on Couchbase to $21 and $26, respectively, with Morgan Stanley maintaining an Equal-Weight rating and RBC Capital maintaining an Outperform rating.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 5:53 pm

OLLI

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reported higher than expected earnings for Q3, with a 14.8% Y/Y sales increase to $480.05 million and adjusted EPS of 51 cents, surpassing the consensus of 44 cents. The company raised its FY23 net sales and adjusted EPS outlook, but shares fell 3.1% following the announcement. UBS and RBC Capital increased their price targets on OLLI, maintaining Neutral and Outperform ratings respectively.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 5:48 pm

TOL

Toll Brothers, Inc. (NYSE:TOL) exceeded Q4 earnings expectations with $4.11 per share against estimates of $3.71 and reported sales of $3.02 billion, surpassing the $2.77 billion forecast. The company anticipates 1,800-1,900 deliveries in Q1 and 9,850-10,350 for FY24. Post-earnings, TOL shares rose 2.6% to $91.23. Analysts from Barclays, Goldman Sachs, UBS, and RBC Capital revised their price targets for TOL, with UBS setting the highest target at $112.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 5:42 pm

EYPT

Mizuho analyst Graig Suvannavejh has maintained a Buy rating on EyePoint Pharmaceuticals (NASDAQ:EYPT) and increased the price target from $20 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:36 pm

VEEV

Veeva Systems Inc. (NYSE:VEEV) reported Q3 earnings with a 12% Y/Y revenue increase to $616.5 million, surpassing the consensus of $615.98 million. Adjusted EPS was $1.34, beating the $1.30 consensus. However, the company lowered Q4 revenue guidance to $620-$622 million, below the consensus of $623.18 million, with an adjusted EPS forecast of $1.30, slightly above the $1.28 estimate. Following the earnings report, VEEV shares dropped 2.5%. Analysts from Canaccord Genuity, Barclays, Needham, and Piper Sandler adjusted their price targets and ratings for VEEV.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 5:35 pm

PYPL

Evercore ISI Group analyst David Togut has reiterated an In-Line rating on PayPal Holdings (NASDAQ:PYPL) and maintained a price target of $65.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:31 pm

TOL

RBC Capital analyst Mike Dahl has maintained an Outperform rating on Toll Brothers (NYSE:TOL) and increased the price target from $90 to $97.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:23 pm

SNV

RBC Capital analyst Jon Arfstrom has maintained an Outperform rating on Synovus Financial Corp. (NYSE:SNV) and increased the price target from $34 to $37.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:22 pm