Streetbeat News

Products Services

AMZN

WMT

Amazon.com Inc (NASDAQ:AMZN) captured nearly a third of late online orders in the two weeks before Christmas, a significant increase from 21% during Thanksgiving and Black Friday. The company's focus on expedited shipping and same-day delivery facilities has been key in attracting last-minute shoppers and maintaining an edge over competitors like Walmart Inc (NYSE:WMT) and Chinese e-commerce companies. Amazon's Prime members enjoy fast delivery, with 70% of U.S. orders arriving within two days. Despite a positive performance in delivery, AMZN shares dropped by 2.17% recently.

Portfolio Pulse from Anusuya Lahiri

January 04, 2024 | 7:51 pm

AMZN

Amazon.com, Inc (NASDAQ:AMZN) is highlighted as a top pick for 2024 by numerous analysts, with five firms naming it their top pick on a single Wednesday. Analysts cite reaccelerating AWS growth, underappreciated AI exposure, operating efficiency, and advertising opportunities as reasons for optimism. Wedbush labels it the 'everything stock' and Satori Fund views it as a defensive play. Despite the positive outlook, AMZN shares were down 2.15% at $145.28 on Thursday.

Portfolio Pulse from Adam Eckert

January 04, 2024 | 7:50 pm

BCC

LLY

MMM

PFE

SPY

Marc Chaikin, CEO of Chaikin Analytics, remains optimistic about the stock market despite a shaky start in 2024, suggesting there's more upside to come. He believes opportunities lie outside the 'Magnificent Seven' tech giants, particularly in the S&P 500 stocks. The SPDR S&P 500 ETF (SPY) mirrors the index's performance. Chaikin's Power Gauge rating turned bullish on Pfizer (PFE) and he recommends selling Eli Lilly (LLY) due to its high P/E ratio. He favors stocks in industrials, consumer discretionary, financials, materials, and selective tech, highlighting Boise Cascade (BCC) and 3M (MMM) as his current favorites.

Portfolio Pulse from Neil Dennis

January 04, 2024 | 7:29 pm

WBD

Elvis Presley is set to return to the stage in a 2024 London concert titled 'Elvis Evolution' using AI technology from Layered Reality. The performance will feature a life-sized digital Elvis. Tickets go on sale this summer with a waitlist available now. Authentic Brands Group owns Presley's image rights. Interest in Presley has potentially increased due to the 'Elvis' film by Warner Bros. Discovery (NASDAQ:WBD), which grossed over $288 million worldwide.

Portfolio Pulse from Chris Katje

January 04, 2024 | 7:27 pm

ATAI

GHRS

Atai Life Sciences (NASDAQ:ATAI) has invested $50 million in Beckley Psytech Ltd. for the development of short-duration psychedelics for neuropsychiatric conditions. Atai now owns 35.5% of Beckley Psytech, which remains independent. The investment will accelerate the development of Beckley's psychedelic candidates, BPL-003 and ELE-101, with clinical trial results expected between H1 2024 and H2 2024. Atai's management believes in the potential of short-duration psychedelics to increase patient access and is building a large portfolio of psychedelic compounds. The collaboration may also explore digital tools for patient support and commercialization. GH Research (NASDAQ:GHRS) is also working with 5-MeO-DMT but is currently on clinical hold in the U.S.

Portfolio Pulse from Lara Goldstein

January 04, 2024 | 7:17 pm

AMD

AMD announced its automotive technology advancements at CES 2024, introducing the Versal AI Edge XA adaptive SoC and the Ryzen Embedded V2000A Series processor. These products enhance infotainment, safety, and autonomous driving capabilities. AMD's expanded automotive portfolio, post-Xilinx acquisition, will be showcased at CES 2024 with partners. Despite the innovations, AMD shares dropped by 1.17% to $136.90.

Portfolio Pulse from Anusuya Lahiri

January 04, 2024 | 7:12 pm

SHAK

Raymond James analyst Brian M. Vaccaro has maintained a Strong Buy rating on Shake Shack Inc (NYSE:SHAK) and increased the price target from $78.00 to $90.00. Vaccaro highlights Shake Shack's high sales per square foot and sees significant store margin growth potential. He points out Shake Shack's higher labor and operating costs compared to peers but is optimistic about the company's ongoing review to improve efficiency and reduce costs. The analyst suggests that refining the new unit prototype could enhance unit economics and support long-term growth. SHAK shares rose 1.91% to $69.77.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 7:07 pm

CALM

Cal-Maine Foods Inc (NASDAQ:CALM), the largest U.S. egg producer, reported a significant drop in egg prices in their Q2 2024 results, with a 49.4% decrease year-over-year. The average selling price for conventional eggs was $1.458 per dozen, down from $2.883 in Q2 2023. This decline in egg prices has led to a 95% reduction in Cal-Maine's operating income, despite a slight increase in total volumes sold. The company remains focused on increasing production of specialty eggs to meet high demand.

Portfolio Pulse from Surbhi Jain

January 04, 2024 | 7:04 pm

YCBD

cbdMD has announced the launch of a new CBG+CBD tincture product. The announcement was made via their Twitter account, which could indicate an expansion of their product line and potentially increase interest in their offerings.

Portfolio Pulse from Bill Haddad

January 04, 2024 | 6:49 pm

TSLA

Tesla Inc's (NASDAQ:TSLA) Model Y has reportedly become the bestselling electric vehicle of all time, surpassing the company's own Model 3. Based on fourth-quarter delivery figures, Tesla delivered 484,507 units, including 461,538 Model 3 and Model Y vehicles. Cleantechnica estimates that Tesla has sold 2,493,657 Model Y units since March 2020, overtaking the 2,295,187 Model 3 units delivered. The Model Y's success could make it one of the bestselling vehicles globally in 2023 and has already been reported as the top-selling vehicle in Europe. Tesla shares were trading up 1% at $240.91.

Portfolio Pulse from Chris Katje

January 04, 2024 | 6:27 pm