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AMZN

JPMorgan analyst Doug Anmuth has named Amazon (NASDAQ:AMZN) as the 'Best Idea' for long-term investment, citing its leadership in the e-commerce sector and potential for significant growth. Anmuth predicts U.S. e-commerce penetration will double to over 40%, with Amazon's share of Adjusted Retail Sales expected to rise to 22.9% in 2024. This projection is supported by Amazon's consistent year-over-year share gains and its strategic expansion into connected TV and streaming.

Portfolio Pulse from Surbhi Jain

February 21, 2024 | 9:40 pm

CHDN

Churchill Downs Incorporated (NASDAQ:CHDN) announced plans to open Owensboro Racing & Gaming in Q1 of 2025, featuring 600 historical racing machines, a retail sportsbook, simulcast wagering, and food/beverage options. The $100 million project in Daviess County, Kentucky, will be CDI's seventh historical horse racing venue in the state and will operate as an annex of Ellis Park Racing & Gaming, supporting purse funding for Ellis Park's summer racing meet. The development celebrates 150 years of the Kentucky Derby and aims to enhance the Kentucky horse racing industry.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:37 pm

ETSY

Etsy Inc. (NASDAQ:ETSY) reported mixed Q4 results, missing EPS estimates but beating sales forecasts. The company announced weak Q1 guidance, expecting a low-single-digit decline in GMS year-over-year. Etsy's CEO highlighted over $13 billion in GMS and record annual revenue, with plans to invest in growth initiatives, including a new Gift Mode feature. After-hours, Etsy shares dropped 5.81% to $72.65.

Portfolio Pulse from Erica Kollmann

February 21, 2024 | 9:30 pm

LCID

Lucid Group Inc (NASDAQ:LCID) reported its Q4 earnings with a revenue of $157.2 million, missing the consensus estimate of $179.88 million, but beating EPS estimates with a loss of 29 cents per share against an expected loss of 32 cents. The company produced 2,391 vehicles and delivered 1,734 in Q4, ending with $4.78 billion in liquidity. Lucid aims to produce approximately 9,000 vehicles in 2024 and confirmed the production schedule for its Gravity SUV and a midsize platform.

Portfolio Pulse from Adam Eckert

February 21, 2024 | 9:16 pm

JOBY

Joby Aviation announced its plans to increase focus on commercialization in anticipation of entering commercial service in 2025. This strategic shift aims to position the company as a leader in the aviation industry by the time it commences its commercial operations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:16 pm

AAPL

SSNLF

Apple Inc (AAPL) dominates the 2023 smartphone market with seven of the top 10 models by units shipped, according to Counterpoint Research. The iPhone 14, 14 Pro Max, 14 Pro, 13, 15 Pro Max, 15 Pro, and 15 are among the top sellers, showcasing Apple's strong market presence and potential for high average sale prices with its premium models. Samsung (SSNLF) holds the remaining three spots in the top 10, marking a significant shift as Apple surpasses Samsung in global smartphone shipments. The top 10 smartphones accounted for 20% of the global market share, a new record, with Apple and Samsung being the only companies on Counterpoint's annual list since 2021.

Portfolio Pulse from Chris Katje

February 21, 2024 | 9:14 pm

ETSY

Etsy forecasts a decline in Q1 2024 GMS in the low-single-digit range year-over-year, attributing it to a slow start. The company expects improvement through the quarter with planned product and marketing investments. A failure to improve trends could lead to a mid-single-digit decline. Etsy estimates a Q1 2024 take rate of 21-21.5% and an adjusted EBITDA margin of ~26%.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:13 pm

LCID

Lucid Motors announced its Q4 vehicle delivery and production numbers, delivering 1,734 vehicles and producing 2,391. The company also provided its 2024 production guidance, aiming to produce approximately 9,000 vehicles.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:10 pm

BAX

Spectral Medical Inc. has extended its exclusive supply and distribution agreement with Baxter Healthcare Corporation, a subsidiary of Baxter International Inc. (BAX), for the distribution of PMX products in the U.S. and Canada. The extension is for ten years following U.S. FDA marketing authorization for PMX, a device for treating septic shock. Baxter has exercised its option to maintain exclusive distribution rights after Spectral reached a milestone of enrolling 90 patients in its Tigris Trial for PMX.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:02 pm

SNPX

Synaptogenix has received a notice of allowance for its U.S. patent application 17/665,033, which covers halogenated esters of cyclopropanated unsaturated fatty acids for use in treating neurodegenerative diseases. This development marks a significant milestone for the company in its efforts to develop treatments for conditions such as Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:58 pm