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New York's first licensed adult-use cannabis dispensary, Housing Works Cannabis, celebrated a successful first year with $24 million in sales. Trulieve announced the opening of two new dispensaries in Florida, while Ascend Wellness Holdings opened a new outlet in Ohio. High Tide opened three new Canna Cabana stores in Canada. Cannabis stocks are believed to be poised for growth, with Benzinga PotProfits highlighting significant gains in stocks like GTBIF, TCNNF, and VFF.

Portfolio Pulse from Jelena Martinovic

December 29, 2023 | 6:28 pm

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KeyBanc Capital Markets analysts revealed credit/debit card spending trends, showing an 18.4% year-over-year increase in 'All Retail' spending as of December 24th. The report highlighted outperformers like Dollar General, Dollar Tree, Five Below, Ollie's Bargain Outlet, and Target, with positive accelerations also seen in Best Buy, Tractor Supply, and Walmart. However, the analysts anticipate potential spending challenges ahead due to macroeconomic factors and the resumption of student loan repayments. In Internet Retail, Lululemon, Nordstrom, and Nike showed positive spending trends, while The RealReal and Etsy experienced mixed results.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 6:21 pm

HLIT

Harmonic (NASDAQ:HLIT) has been the subject of diverse analyst ratings over the past three months, with 7 analysts offering opinions ranging from bullish to bearish. The average 12-month price target for HLIT is $17.29, with a high of $19.00 and a low of $14.00, marking a 4.79% increase from the previous target of $16.50. Analysts from firms including Rosenblatt, Needham, Raymond James, and Barclays have maintained or adjusted their ratings and price targets, reflecting their latest views on the company's performance. Harmonic designs video infrastructure products and operates in two segments: Video and Broadband. Despite its smaller market capitalization and negative revenue trend of -18.32% as of September 30, 2023, the company has a lower debt-to-equity ratio than the industry average, indicating a healthier balance between debt and equity.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 6:00 pm

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AstraZeneca PLC acquired Chinese cancer therapy developer Gracell Biotechnologies, focusing on expanding its oncology business. Pfizer Inc's shares fell but are expected to rebound as it enhances its cancer treatments, including the acquisition of Seagen and approval of a blood cancer therapy. Moderna Inc, in partnership with Merck, developed an experimental cancer vaccine showing promising results. Mainz Biomed reported high sensitivity and specificity for its colorectal cancer screening test, ColoAlert. The pharma industry is making significant strides in cancer treatment and prevention.

Portfolio Pulse from Upwallstreet

December 29, 2023 | 5:49 pm

DHI

ITB

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Mortgage rates have fallen significantly, with the average 30-year rate dropping to 6.61% from a peak of 7.79%. Freddie Mac's chief economist notes a stabilizing trend and a positive economic outlook. Homebuilders and the iShares U.S. Home Construction ETF (ITB) have seen strong stock gains, with ITB up 68% in 2023. DR Horton (DHI) and Lennar (LEN) reported surges in net sales orders and share price increases, benefiting from limited supply and strong demand. Economists predict further easing of price pressures in 2024.

Portfolio Pulse from Neil Dennis

December 29, 2023 | 5:48 pm

BSX

Boston Scientific (NYSE:BSX) has been rated by 8 analysts over the last three months, with a mix of bullish and somewhat bullish opinions. The average 12-month price target is now $63.00, up from $60.62, with a high estimate of $66.00 and a low of $60.00. Analysts from firms like BTIG, Wells Fargo, Truist Securities, TD Cowen, Morgan Stanley, Canaccord Genuity, and Needham have maintained or adjusted their ratings and price targets. Boston Scientific specializes in less invasive medical devices and has a strong market presence with a high market cap and revenue growth, but faces challenges in ROE and ROA.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 5:00 pm

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Valve's Steam has released its 'Best of 2023' list, featuring the top-selling and most-played games of the year. The list includes games from Electronic Arts Inc (EA), Microsoft Corp (MSFT), Warner Bros. Discovery Inc (WBD), CD Projekt ADR (OTGLY), and Capcom ADR (CCOEY). The rankings are based on sales revenue and concurrent player numbers from January 1 to December 15, 2023. New releases like Street Fighter 6 and Baldur's Gate 3 were among the high revenue generators, while Steam Deck highlighted Elden Ring and Cyberpunk 2077.

Portfolio Pulse from Franca Quarneti

December 29, 2023 | 4:19 pm

COST

The analysis of Costco Wholesale (NASDAQ:COST) in the Consumer Staples Distribution & Retail industry reveals a high PE, PB, and PS ratio compared to industry averages, suggesting a premium stock valuation. Costco's ROE and EBITDA are above average, indicating profitability and efficiency. However, lower gross profit and revenue growth could signal challenges ahead. The company's low debt-to-equity ratio suggests a strong financial position with less reliance on debt.

Portfolio Pulse from Benzinga Insights

December 29, 2023 | 4:00 pm

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Major pharmaceutical companies including Pfizer, Sanofi, and Takeda Pharmaceutical are planning to raise prices on over 500 drugs in the U.S. in early January, ahead of the Biden Administration's publication of discounted prices for ten high-cost drugs in September. This move is in response to inflation and increased manufacturing costs. Meanwhile, GSK is set to lower prices on at least 15 drugs in January, following price reductions on specific drugs for 2024. Drug price increases have been kept under 10% since 2019, reflecting a cautious approach by drugmakers.

Portfolio Pulse from Vandana Singh

December 29, 2023 | 3:31 pm

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Pfizer, Sanofi, and Takeda are set to increase prices on over 500 unique drugs in the US in early January, according to data from 3 Axis Advisors reported by Reuters.

Portfolio Pulse from Charles Gross

December 29, 2023 | 2:17 pm