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SILO

Silo Pharma (NASDAQ:SILO) is advancing its ketamine-loaded implant, SP-26, for fibromyalgia and chronic pain through preclinical trials with approval from state and federal authorities. The company has partnered with Sever Pharma Solutions for development and manufacturing. The implant is designed for at-home pain relief and aims to be the first at-home approved ketamine treatment for chronic pain. Silo Pharma is pursuing FDA approval through the 505(b)(2) pathway. The fibromyalgia market was valued at $3.1 billion in 2022 and is expected to grow at a 4% CAGR until 2032, while the broader chronic pain market could exceed $140 billion by 2030.

Portfolio Pulse from Lara Goldstein

December 28, 2023 | 8:10 pm

BJDX

CING

CTSO

DOYU

MBOT

VLD

U.S. stocks closed higher with the Dow Jones gaining over 100 points. Utilities shares led gains, while energy shares lagged. Microbot Medical, Cingulate, and DouYu International saw significant share price movements after company-specific news. Conversely, Cytosorbents, Bluejay Diagnostics, and Velo3D experienced sharp declines. Crude oil inventories dropped significantly, exceeding market expectations. Economic data showed a rise in jobless claims and a widening trade deficit in goods, while wholesale inventories and pending home sales remained relatively stable.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 7:32 pm

DIA

QQQ

SPY

Historical data suggests that the S&P 500 often outperforms in presidential election years, with an average return of 10.5% over the last 16 election years, excluding the global financial crisis and dot-com bubble. The SPDR S&P 500 ETF Trust (SPY) has seen a 23.7% increase since Biden's presidency began. The Dow Jones Industrial Average, tracked by the SPDR Dow Jones Industrial Average ETF Trust (DIA), has had mixed results in election years, with an average return of 5.4%. The Nasdaq 100, often tracked by the Invesco QQQ Trust Series 1 (QQQ), has an average return of 7.4% in election years since its creation in 1985. The performance of these indexes during election years is a point of interest for voters and has been highlighted by both Biden and Trump.

Portfolio Pulse from Chris Katje

December 28, 2023 | 7:16 pm

NKE

Analysts have provided mixed ratings for Nike (NYSE:NKE) with 17 analysts offering their perspectives in the past three months. The average 12-month price target for Nike is $122.06, with a high estimate of $140.00 and a low estimate of $104.00. This average is slightly up from the previous target of $120.92. Analysts' actions include raising, lowering, and maintaining their ratings and price targets. Nike's financial performance shows a solid revenue growth rate of 3.47%, a net margin of 11.79%, an ROE of 11.22%, an ROA of 4.27%, and a healthy debt-to-equity ratio of 0.86.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 7:00 pm

ACI

AMZN

KR

TGT

WMT

Telsey Advisory Group analyst Joseph Feldman forecasts grocery sales to moderate in Q4 and early 2024 due to easing inflation. Walmart Inc. (WMT) maintained its price leadership in December 2023, with Target Corporation (TGT) retaining the #2 spot. Kroger Company (KR) and other grocers are seeing unit growth but at a slower pace than expected. Amazon.Com, Inc.'s (AMZN) Amazon Fresh and Albertsons Companies, Inc. (ACI) saw their price premiums to Walmart's basket grow. Feldman reiterated outperform ratings for WMT, TGT, and KR with price targets of $185, $160, and $55 respectively. WMT shares traded slightly lower, TGT shares slightly higher, and KR shares slightly lower in the last check.

Portfolio Pulse from Nabaparna Bhattacharya

December 28, 2023 | 6:46 pm

CLRO

ClearOne Inc (NASDAQ:CLRO) shares surged by approximately 15% following the company's announcement of an improved balance sheet due to debt repayments and tax refunds. The company paid off the remaining $1.0 million on its $3.0 million senior secured convertible notes and received a $6.9 million income tax refund. Additionally, ClearOne expects to receive $4.0 million from a non-exclusive patent cross-licensing agreement in Q1 2024. CEO Derek Graham highlighted the company's strong financial position with over $23 million in cash and no debt, which supports their growth objectives and new product rollouts in 2024.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 5:48 pm

LMFA

LM Funding America Inc (NASDAQ:LMFA) shares dropped approximately 12% following the announcement of an agreement to sell Symbiont's blockchain technology to Platonic Holdings Inc. for $2 million. The sale proceeds will be held in escrow until December 26, 2024. LMFA will acquire the assets of Symbiont.IO in its Chapter 11 bankruptcy case. The company plans to use the funds to expand its bitcoin mining operations and strengthen its balance sheet. LMFA reported a significant revenue increase in Q3, with over 1,720% growth year-over-year.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 4:40 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is rumored to be planning an expansion into India, with potential announcements at the Vibrant Gujarat Global Summit in January 2024. The company may invest around $2 billion in initial operations, including a manufacturing facility in Sanand, India. This move could help Tesla access the rapidly growing Indian EV market and serve as an export hub. Tesla's stock performed well in 2023, with a 140% increase.

Portfolio Pulse from Chris Katje

December 28, 2023 | 4:33 pm

AMD

AMZN

BABA

BIDU

GOOG

META

NVDA

QQQ

SSNLF

AMD stock is trading higher, driven by Big Tech's investment in AI and a robust semiconductor sector. Baidu's Ernie Bot hit 100 million users, and AMD's new AI products position it as a key player after Nvidia. Samsung's growth in chip production and shipments indicates a global tech demand revival. AMD's stock rose over 8% in five days and 22% in a month, outperforming the broader tech index represented by Invesco QQQ Trust.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 4:29 pm

SIDU

Sidus Space Inc (NASDAQ:SIDU) stock surged and experienced multiple trading halts due to volatility after announcing preparations for a Q1 2024 launch of LizzieSat. The company highlighted its achievements in 2023, including service expansion, new customer acquisition, technology enhancements, and completion of testing for the SpaceX Transporter-10 launch. CEO Carol Craig emphasized the launch's potential to drive high margin revenue growth and the anticipation of increased annualized revenue from subscription customers, with more satellite launches planned for 2024.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 4:03 pm