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GLD

SPY

VIXM

The CBOE VIX volatility index, known as Wall Street's 'fear gauge,' reached a two-month high of 14.5, indicating increased market volatility and investor concern. The ProShares VIX Mid-Term Futures ETF (VIXM) rose 2.4% in response. The S&P 500 and SPDR S&P 500 ETF Trust (SPY) previously gained 16% as the VIX fell from 21 to around 12. Market expectations of Federal Reserve rate cuts are being reassessed due to recent economic data and Fed member comments, suggesting a more cautious approach to rate cuts. Geopolitical tensions, particularly in the Middle East, are also contributing to market uncertainty, although they have not significantly impacted oil prices or traditional safe-haven assets like gold and Treasuries, with the SPDR Gold Shares ETF (GLD) remaining flat.

Portfolio Pulse from Neil Dennis

January 17, 2024 | 2:33 pm

VUZI

Vuzix Corporation announced preliminary Q4 2023 revenues of approximately $2.1 million, which is below the estimated $3.4 million. The company experienced a 36% increase in product sales over Q3 2023, indicating strong commercial demand for its AR smart glasses. However, this was offset by a 72% decline in engineering services. Despite the revenue shortfall, CEO Travers remains optimistic about the company's long-term prospects, highlighting a focus on core technology for OEM and white label programs. Vuzix has its largest OEM engineering services order book to date, with revenue realization dependent on delivery timing and milestone achievements. The Q4 results are preliminary and unaudited, with final figures expected to be released in the next 60 days.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 2:24 pm

GTBIF

ITHUF

TCNNF

The New York Cannabis Control Board approved Fiorello Pharmaceuticals, owned by Green Thumb Industries, and Citiva Medical, owned by iAnthus Capital Holdings, to transition from medical to recreational cannabis markets. Maine is considering decriminalizing small quantities of drugs, focusing on treatment over punishment. Arkansas activists submitted a ballot measure to improve medical marijuana access. Florida's medical marijuana program reports a 15% increase in patients, with a recreational legalization initiative on the horizon, supported by Trulieve Cannabis Corp.

Portfolio Pulse from Jelena Martinovic

January 17, 2024 | 2:17 pm

GMGI

Golden Matrix Group Inc. reported a 23% year-over-year increase in FY23 revenues, amounting to $44.2 million.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 2:17 pm

KMX

Analysts have mixed opinions on CarMax (NYSE:KMX), with recent ratings ranging from bullish to bearish. Over the last quarter, there were 4 somewhat bullish, 1 indifferent, and 1 somewhat bearish ratings. The average 12-month price target is $79.67, a slight increase from the previous $78.00. CarMax is a major used-vehicle retailer in the U.S. with about 4% market share. Despite a -5.49% revenue decline over 3 months, CarMax maintains a strong net margin of 1.33% and an ROA of 0.3%, but has a lower-than-average ROE of 1.36% and a healthy debt-to-equity ratio of 3.22.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 2:00 pm

VVPR

VivoPower International reported preliminary H2 revenue of $5.9M, a decrease from $8.7M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:49 pm

KULR

KULR Technology Group, Inc. has secured an exclusive global license for NASA's large format Fractional Thermal Runaway Calorimeter (FTRC) technology, which is critical for lithium-ion battery safety testing. This positions KULR as the sole provider of comprehensive battery testing services for all cell types and establishes them as a key partner for OEMs in battery safety design, testing, storage, and recycling. The global battery testing equipment market is expected to grow from USD 11.2 billion in 2021 to USD 16.5 billion by 2030, and KULR is already serving major clients in the automotive, space exploration, electric truck manufacturing, and electric vertical take-off and landing sectors.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:45 pm

BFRG

SAVE

SLDP

Spirit Airlines' stock (SAVE) plunged by 59% due to the blocked merger, affecting the airline sector with JetBlue and Hawaiian Airlines on watch. BullFrog AI (BFRG) surged 48% after its collaboration with the Lieber Institute for Brain Development showed promising results in brain expression data stratification. Solid Power (SLDP) increased by 17% on the expectation of generating at least $50 million in revenue from recent agreements upon meeting milestones and electrolyte deliveries.

Portfolio Pulse from ryanfaloona@benzinga.com

January 17, 2024 | 1:42 pm

PI

Impinj, Inc. (PI) shares have risen following the company's announcement that it anticipates Q4 revenue to surpass $70 million, which is above its previous guidance range.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:42 pm

NUZE

NuZee, Inc. reported its fiscal year 2023 earnings per share (EPS) at $(11.95), an improvement from the previous year's $(21.32). The company also saw a slight increase in revenue, rising from $3.1 million in the prior year to $3.3 million.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:38 pm