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Target Corporation reported an unexpected earnings beat for Q3 with revenue of $25.4 billion, surpassing estimates despite a YoY sales decline and a 5% drop in comparable sales. Digital sales fell 6% YoY, but net income rose 36% to $971 million. The earnings beat was attributed to strong sales in women's fall fashion apparel, jewelry, and a new kitchenware brand. However, Target's CFO warned of a challenging holiday quarter with expected mid-single-digit declines in comparable sales and adjusted EPS between $1.90 and $2.60. Walmart, which reports later in the week, did not hire additional holiday staff, suggesting a softer holiday season. Home Depot, Macy's, and TJX Companies are also set to report earnings this week.

Portfolio Pulse from Upwallstreet

November 15, 2023 | 5:04 pm

MSFT

CISO Global has announced its participation in the Microsoft Security Copilot Partner Private Preview, which is a program involving a select group of partners to preview and provide feedback on Microsoft's security solutions.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:03 pm

CGC

Canopy Growth Corp. (CGC) has launched four new cannabis flower products under its 7ACRES and Tweed brands, featuring a range of THC levels and flavors to cater to different tastes. The new offerings include the 7ACRES Holiday Taster Pack with Ultra Jolly Jack and Peppermint Krypt strains, and Tweed's Gorilla Berry and Chemsicle strains. The company aims to enhance festive celebrations with these high-quality flowers. Canopy's stock traded higher by 4.5523% at $0.5558 per share following the announcement.

Portfolio Pulse from Jelena Martinovic

November 15, 2023 | 4:52 pm

USDCUSD

Circle, the issuer of USDC, has launched the Circle Alliance Program to promote the use of its stablecoin and Web3 services globally. Despite a 5% drop in USDC's market cap and a narrowing market share to less than 19%, Circle aims to revitalize USDC amidst stiff competition, especially from Tether. The company is also considering an IPO in 2024. Circle has introduced Circle Mint in Singapore, a zero-fee minting facility, following the acquisition of an MPI license from MAS.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 4:46 pm

NKLA

PLUG

Nikola Corporation (NASDAQ:NKLA) stock has risen 8% to $1.11 over the past five sessions after a disappointing earnings report earlier this month. The company reported a gross loss of $125.5 million, an expanded EBITDA loss of $188.6 million, and an adjusted EPS loss of 30 cents, missing consensus estimates. Despite receiving orders for 324 trucks, production issues led to only 3 truck shipments in the quarter. Nikola also faces increased expenses due to a truck recall and aims to achieve profitability by 2025. Nikola shares were also affected by Plug Power Inc's (NASDAQ:PLUG) worse-than-expected Q3 financial results, which led to volatility in the hydrogen industry stocks.

Portfolio Pulse from Henry Khederian

November 15, 2023 | 4:09 pm

MSFT

NVDA

Microsoft has announced the development of a custom AI chip named 'Maia', which has the potential to compete with Nvidia's offerings in the AI processor market. Additionally, Microsoft revealed an ARM-based chip called 'Cobalt'. These advancements could signify Microsoft's increasing focus on hardware for AI and cloud services, positioning it as a competitor to Nvidia's dominance in AI chips.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 4:05 pm

AMD

MSFT

AMD's Instinct MI300X accelerators will be used to power a new series of Microsoft Azure Virtual Machines, which are optimized for artificial intelligence (AI) applications. This collaboration highlights AMD's role in providing advanced hardware for cloud computing and AI workloads, and it may influence the demand for AMD's AI accelerators in the cloud services market.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 4:02 pm

MSFT

NVDA

NVIDIA has launched a new Generative AI Foundry service, which is available on Microsoft Azure. This service is aimed at providing enterprises and startups around the world with the tools necessary to build and deploy generative AI models. The service leverages NVIDIA's expertise in AI and the cloud capabilities of Microsoft Azure, indicating a collaboration between the two tech giants to facilitate the adoption of AI technologies.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 4:00 pm

SPY

The Biden-Harris Administration has announced a $3.5 billion investment to bolster domestic battery manufacturing. This initiative is part of the Bipartisan Infrastructure Law and aims to enhance the supply chain for electric vehicles (EVs) and energy storage. The funding will be allocated to build and expand facilities that produce batteries and components, as well as for recycling old batteries. This move is expected to reduce reliance on foreign supply chains and create jobs in the United States.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:59 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo provides daily trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, META, TSLA, and GOOGL, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential support and resistance levels for each asset, suggesting possible price targets for bullish and bearish scenarios. The analysis emphasizes the importance of the PPI data released and the absence of Fed speakers, indicating that market reactions to inflation data will be crucial. The memo is part of the exclusive content available to Market Clubhouse members, who receive early access to trading insights and live mentorship from a professional trader known as RIPS.

Portfolio Pulse from RIPS

November 15, 2023 | 3:53 pm