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Consumers spent a record $9.8B online on Black Friday, up 7.5% from last year, with overall sales rising 2.5% according to Mastercard. Foot traffic in stores also increased by 2.1%. Cyber Monday is expected to generate about $12B in online sales. Stocks of Affirm Holdings Inc and Shopify Inc are being bought by investors due to their roles in e-commerce and buy now pay later services. However, enthusiasm is tempered by data from China showing a 7.8% fall in October Industrial Profits. Money flows are positive for Apple, Amazon, Microsoft, NVIDIA, and Tesla, but negative for Alphabet and Meta Platforms, and mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust. Gold is above $2000, with buying from the momo crowd. Oil is lower due to OPEC+ disagreements, and Bitcoin is range-bound.

Portfolio Pulse from The Arora Report

November 27, 2023 | 6:08 pm

ETHUSD

On Sunday, 5,198.18 Ether (ETH) valued at approximately $10.46 million was burned, permanently removing it from circulation. This event is significant due to the Ethereum network's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum 2.0 upgrade is expected to further reduce the annual issuance rate of Ether, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -4.59% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 6:00 pm

ETNB

89bio Inc (NASDAQ:ETNB) reported positive topline data from the Phase 2b ENLIVEN trial of pegozafermin for NASH, showing sustained improvements in liver health markers at week 48. The results were consistent with week 24 findings, and the drug was well-tolerated with stable adverse event rates. Despite the positive data, ETNB shares dropped 3.28% to $7.66.

Portfolio Pulse from Vandana Singh

November 27, 2023 | 5:42 pm

AMZN

BBY

DELL

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MSFT

NTDOY

SONY

WMT

Cyber Monday brings significant discounts on gaming products, including consoles, laptops, monitors, accessories, headsets, graphics cards, and games. Deals include discounts on PS5, Dell G15, and Samsung Odyssey monitors. Retailers like Amazon, Best Buy, and Walmart feature prominently with various offers. The sale ends at midnight on Nov. 27.

Portfolio Pulse from Franca Quarneti

November 27, 2023 | 5:39 pm

PKG

Packaging Corp. (PKG) shares are trading higher following the announcement of a price increase for linerboard and semi-chem medium to its customers.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 5:10 pm

PKG

Packaging Corp. has informed customers of a price increase for linerboard and semi-chem medium, effective January 1. Linerboard prices will rise by $70 per ton, and semi-chem medium prices by $100 per ton, as reported by Seaport Research Partners.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 5:00 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is involved in a legal dispute with Sweden's Transport Agency due to halted delivery of license plates, impacting Tesla's operations in Sweden. The issue stems from unions pressuring Tesla to sign a collective bargaining agreement. Tesla is also preparing for the delivery event of the Cybertruck. TSLA shares have risen over the past month but are currently trading below the 50-day moving average.

Portfolio Pulse from Erica Kollmann

November 27, 2023 | 4:55 pm

XENE

Xenon Pharmaceuticals Inc (NASDAQ:XENE) reported positive Phase 2 trial results for XEN1101 in treating major depressive disorder (MDD). The study showed a dose-response and clinically meaningful improvements in several depression scales, though not all results were statistically significant. XEN1101 was well tolerated with similar adverse event rates across treatment groups. XENE shares rose 13.15% to $32.78.

Portfolio Pulse from Vandana Singh

November 27, 2023 | 4:40 pm

AMZN

FDX

UPS

Amazon (AMZN) has become the largest delivery business in the U.S. by parcel volumes, surpassing UPS and FedEx. In 2022, Amazon delivered more packages than UPS and had already overtaken FedEx in 2020. Despite this, the U.S. Postal Service remains the largest by volume. Amazon's growth and strategic changes at UPS and FedEx have altered the delivery landscape. Amazon focuses on profitable routes and leverages AI for efficient deliveries, while UPS and FedEx prioritize more profitable parcels. AMZN shares were up 1.1% on the news.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 4:31 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) celebrated the five-year anniversary of its R1T electric truck and R1S SUV unveiling at the LA Auto Show. Initially promising deliveries in 2020, Rivian faced delays and began deliveries in 2021. The company has seen significant growth, delivering 15,564 vehicles in Q3 of the current year. Rivian's vehicles are priced at the higher end, with the R1T at $73,000 and the R1S SUV at $78,000. The company reported Q3 revenue of $1.337 billion and a loss of $1.19 per share, outperforming analyst expectations. Looking forward, Rivian aims for positive gross profit by 2024 and plans to launch the R2 platform in 2026, with unveilings expected in early 2024. The R2 will be more affordable, targeting the $45,000 to $50,000 price range for midsize SUVs, a segment where Tesla Inc. currently dominates.

Portfolio Pulse from Anan Ashraf

November 27, 2023 | 4:22 pm