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META

SNAP

Snap Inc's paid service, Snapchat+, has attracted over 5 million subscribers, contributing to an estimated annual revenue of $240 million. The service offers users early access to premium features for $3.99 per month. The success of Snapchat+ stands out as social media companies explore various paid models. Snap's Q2 revenue was $1.07 billion, down 4% YoY, but above consensus of $1.05 billion.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 6:54 pm

MSFT

Leaked documents from Microsoft Corp (NASDAQ:MSFT) reveal that the Xbox Series S is more popular than the Series X and PlayStation 5, with 74.8% of Xbox Series owners owning the Series S. The Series S's popularity is attributed to its affordability and ability to play next-gen games at a lower graphical setting. The documents also reveal Microsoft's plans for an all-digital lineup of console refreshes for the Xbox Series X/S in 2024.

Portfolio Pulse from Franca Quarneti

September 21, 2023 | 6:49 pm

RAI

STZ

TAP

Mississippi's Department of Health has announced major revisions to cannabis industry regulations, impacting the state's 370 licensed medical cannabis businesses. Studies in Maine and New York have raised concerns about potential contamination in the medical cannabis market. The Pennsylvania Senate has passed a bill to allow all licensed medical marijuana growers and processors in the state to directly sell their products to patients. The Coalition for Cannabis Policy, Education, and Regulation (CPEAR), supported by Altria, Reynolds American, Molson Coors, and Constellation Brands, has released a report suggesting policy recommendations to combat the illicit cannabis market in the U.S.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 5:16 pm

AEO

JWN

LULU

URBN

Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Lululemon Athletica Inc. (NASDAQ:LULU) with an unchanged price target of $450. The company's accessories business, particularly bags, has seen significant growth over the past two years. The Everywhere Belt Bag has been a major contributor to this growth. Despite potential competition from American Eagle Outfitters, Inc. (NYSE:AEO), Nordstrom, Inc. (NYSE:JWN), and Urban Outfitters, Inc. (NASDAQ:URBN), the analyst believes Lululemon's brand strength and first-mover advantage will keep it competitive.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 5:13 pm

GES

Small Cap Consumer Research analyst Eric M Beder has reiterated a Buy rating on Guess? Inc (NYSE:GES) with a price target of $32.50. The company is launching a new collection for Guess? Girl, fronted by influencer Georgina Rodriguez. Guess? has expanded its Fall collection with a variety of items and colors. The company has also launched a luggage collection in all stores. Despite these developments, GES shares are trading lower by 0.51% at $21.66.

Portfolio Pulse from Shivani Kumaresan

September 21, 2023 | 5:02 pm

ENPH

PLTR

Palantir Technologies announced via Twitter that Enphase Energy is using Palantir's Foundry platform.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 4:53 pm

BSX

Boston Scientific Corporation (BSX) CEO Mike Mahoney outlined the company's long-term plans at the 2023 Investor Day event. Mizuho Securities maintained its Neutral rating for BSX and raised the price target from $56 to $60. Needham gave the company a Buy rating and raised the price target from $61 to $65. The company's optimistic outlook is underpinned by the rapid expansion of the Pulsed Field Ablation (PFA) category, projected to capture 60% of the market share by 2026. The company also expects growth in the Left Atrial Appendage (LAA) market and the global Transcatheter Aortic Valve Replacement (TAVR) market.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 4:52 pm

EWC

EWW

SPY

TSLA

Jaguar plans to source adapters from Tesla for its I-Pace drivers and future luxury electric Jaguars, launching in 2025, will incorporate the NACS connector without the need for an adapter in the U.S., Canada, and Mexico.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 4:45 pm

AFRM

Affirm is reportedly exploring a subscription service that would guarantee 0% APR on purchases, according to Bloomberg. The service would also boost rates on savings accounts.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 4:22 pm

CELH

NVO

A short report by Edwin Dorsey's 'The Bear Cave' suggests that Coca-Cola (KO) is facing challenges from emerging brands, changing consumer preferences, and the impact of weight loss drugs. The report highlights the success of new entrants like Prime and Celsius Holdings (CELH), which have leveraged modern advertising platforms and influencer endorsements. It also points to a decline in sales for Coca-Cola's Dasani brand and potential issues with the company's diversity initiatives. The report suggests that weight loss drugs like Novo Nordisk's (NVO) Wegovy and Ozempic could further impact Coca-Cola's market share.

Portfolio Pulse from AJ Fabino

September 21, 2023 | 4:19 pm