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DELL

GLD

MRVL

PFE

SOFI

TSLA

U.S. stocks, gold, and bonds rallied while the dollar tumbled as traders anticipate Federal Reserve rate cuts in 2024. The S&P 500, Dow Jones, and Nasdaq indices marked their fifth consecutive week of gains. The ISM manufacturing activity indicated a slowdown, leading to a drop in Treasury yields. The SPDR Gold Trust (GLD) surged as gold prices neared all-time highs. Sector ETFs, especially real estate and materials, saw gains, while technology lagged. Stocks like Dell (DELL) and Marvell Technology (MRVL) fell post-earnings, while Pfizer (PFE) dropped due to halted drug trials. SoFi Technologies (SOFI) rallied after Cathie Wood's investment. Tesla (TSLA) saw a decline after the Cybertruck event. Oil tracked by USO fell slightly, and European markets ended positively. Cryptocurrencies Bitcoin and Ethereum rose.

Portfolio Pulse from Piero Cingari

December 01, 2023 | 7:36 pm

CBSTF

Cannabist Company Holdings Inc. (OTCQX:CBSTF) has announced a partnership with Old Pal to expand cannabis product availability in the U.S., starting with Maryland and Virginia. The collaboration includes Old Pal's 14g Ready to Roll kit and other products like 1g vapes and Palitos pre-roll packs. The partnership aims to enhance consumer experience and market reach. CBSTF's shares were up 1.82% at $0.342 per share at the time of reporting.

Portfolio Pulse from Patricio Liddle

December 01, 2023 | 7:35 pm

AMZN

Amazon has announced securing three launches with SpaceX to support the deployment of its Project Kuiper, a satellite-based internet service. The launches will use SpaceX's Falcon 9 rockets, aiming to provide broadband service to underserved and unserved communities around the world. This collaboration is a significant step for Amazon in the competitive satellite broadband market, where it competes with SpaceX's Starlink service and others.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:32 pm

DOCU

ESTC

Elastic N.V. (ESTC) reported strong Q2 earnings, surpassing analyst expectations with a 37 cents per share result against a 24 cents consensus. Piper Sandler's Rob D. Owens upgraded ESTC's price target from $84 to $105, maintaining an Overweight rating, while Oppenheimer's Ittai Kidron raised the target to $110 with an Outperform rating. Both analysts are optimistic about the adoption of Elastic's GenAI-based solution, ESRE, and its future revenue contributions, particularly noting customer wins with DocuSign (DOCU) and a video search platform. Elastic's Net Revenue Retention (NRR) slightly decreased to 110% from 113%, but cloud consumption trends are improving. The company raised its F'24 revenue guidance by $4 million and operating margin guidance by 25 basis points. ESTC shares surged by 36.13% to $109.39 following the positive reports and analyst upgrades.

Portfolio Pulse from Nabaparna Bhattacharya

December 01, 2023 | 7:20 pm

CLSK

CleanSpark's stock price has increased following the release of their Bitcoin mining update for November 2023, indicating positive performance in their cryptocurrency mining operations.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:15 pm

MSFT

OpenAI has postponed the launch of its custom GPT store until early 2024, according to an Axios report. The store was initially expected to be available sooner, but the delay indicates a shift in OpenAI's timeline for rolling out this service. The custom GPT store is anticipated to allow developers to create and sell their own AI models. Microsoft (MSFT), which has invested in OpenAI, may be affected by this news as it has been closely associated with OpenAI's developments.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:11 pm

TTWO

Rockstar Games has announced the release date for the Grand Theft Auto 6 (GTA 6) trailer, set to debut on Tuesday, Dec. 5, at 9 a.m. ET. The announcement has generated significant excitement among fans, with social media engagement spiking following the news. Take-Two Interactive Software Inc's CEO, Strauss Zelnick, has emphasized the need for the game to be groundbreaking. The anticipation for GTA 6 is high, and multiple trailers are expected to be released.

Portfolio Pulse from Franca Quarneti

December 01, 2023 | 6:54 pm

AMZN

BABA

EBAY

SHOP

WMT

The AI in e-commerce market is expected to grow from $5.81 billion in 2022 to $22.60 billion by 2032. Amazon, eBay, Walmart, Shopify, and Alibaba are leading the integration of AI to enhance their e-commerce platforms. Amazon uses AI for personalized recommendations, robots in fulfillment, and product review summaries. eBay leverages AI for customer insights and visual search. Walmart integrates AI in apps and voice orders. Shopify offers AI-enabled features for business growth. Alibaba's cloud division launched a ChatGPT-style product for integration across its services.

Portfolio Pulse from Surbhi Jain

December 01, 2023 | 6:33 pm

AMZN

NVDA

Analysts from Oppenheimer, Wedbush, and Morgan Stanley have reiterated positive ratings on Amazon (AMZN) with increased price targets, citing higher e-commerce margins, AWS growth, and a beneficial partnership with Nvidia (NVDA). The collaboration with Nvidia is highlighted as a key factor for Amazon's success in 2024, particularly in the areas of cloud and AI innovations. The AWS re: Invent conference showcased new product announcements and generative AI strategy, which includes Amazon's proprietary chips and Nvidia's technology.

Portfolio Pulse from Anusuya Lahiri

December 01, 2023 | 6:16 pm

GNLX

Genelux Corporation's stock is trading higher following the announcement that the FDA has granted Fast Track designation to its development program for Olvi-Vec, aimed at treating patients with platinum-resistant/refractory ovarian cancer.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 6:13 pm