Streetbeat News

Revenues

KUKE

Kuke Music Holding reported a decrease in revenue for the first half of 2023, with earnings of RMB62.1M compared to RMB80.5M in the same period the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:17 pm

PPSI

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) saw its stock price increase by 20% after announcing it received four new orders worth over $10 million. The orders include the company's e-Bloc Low Voltage Power Distribution system and multiple IPCs with paralleling switchgear. Deliveries and installations are expected to start in Q2 2024. CEO Nathan Mazurek highlighted the robust demand in the distributed power generation market and the company's efforts to meet industrial and commercial consumption needs.

Portfolio Pulse from Ryan Gustafson

December 27, 2023 | 9:07 pm

CURLF

Boris Jordan, founder of Curaleaf Holdings Inc (OTCQX:CURLF), predicts a major turnaround for the cannabis sector in 2024 after a challenging 2023. Growth catalysts include New York's move to adult use, Germany's shift to medical cannabis, and a potential Florida transition. Rescheduling cannabis in the U.S. could reduce tax burdens and unlock financial resources. Curaleaf's TSX uplift and expected custodianship by major banks aim to overcome investment barriers. Federal action on rescheduling by April next year is anticipated.

Portfolio Pulse from Patricio Liddle

December 27, 2023 | 9:05 pm

YGMZ

Mingzhu reported a revenue of $56.1M for the six months ended June 30, 2023, marking a 7.0% decrease year-over-year. The company also reported a net loss of $0.805M compared to a net income of $1.64M in the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:02 pm

FDX

NKE

The article discusses several economic indicators and their implications for the market. It highlights the downward revision of 3Q GDP from 5.2% to 4.9%, FedEx's lowered guidance for fiscal year 2024, a significant decline in new orders reported by the Philly Fed, and a slight deflation in November's PCE data. Despite these indicators, the article suggests there is no immediate cause for panic. It also humorously proposes trading US Treasury Secretary Janet Yellen for a Manila store manager to combat inflation. The market reacted positively to the GDP revision, partly due to Micron Technology's positive results and expectations of a Federal Reserve rate cut.

Portfolio Pulse from Gary Brode

December 27, 2023 | 8:15 pm

AAPL

COIN

DIA

GLD

QQQ

SPY

TSLA

UUP

U.S. stocks showed little movement on Wednesday, with major indices near all-time highs. The dollar and Treasury yields fell, with the Invesco DB USD Index Bullish Fund ETF (UUP) down 0.6% and the 10-year Treasury note yield at a five-month low. Gold prices rose, reflected by the SPDR Gold Trust (GLD), up 0.9%. Major ETFs like SPY, DIA, and QQQ were stable. Real Estate (XLRE), Consumer Staples (XLP), and Utilities (XLU) sectors gained, while Energy (XLE) dipped. Gold miners (GDX) and oil services (OIH) ETFs moved in opposite directions. Tesla (TSLA) rose on Model Y news, crypto stocks like Coinbase (COIN), Bit Digital (BTBT), and Marathon Digital (MARA) surged, and Apple (AAPL) remained steady after a legal update.

Portfolio Pulse from Piero Cingari

December 27, 2023 | 7:02 pm

AMZN

GOOGL

META

Wedbush analysts, led by Scott Devitt, provided insights for 2024, favoring Amazon (AMZN) and Meta Platforms (META) in eCommerce and digital advertising, respectively. They predict normalized growth rates for both sectors and see Amazon as well positioned with rising retail margins, AWS growth, and strong advertising revenue. Meta is expected to benefit from monetization of new products and AI features. Google (GOOGL) was downgraded to #2 in digital advertising due to challenges in Google Cloud and AI initiatives. Wedbush maintains Outperform ratings on all three, with price targets of $210 for AMZN, $420 for META, and $160 for GOOGL.

Portfolio Pulse from Anusuya Lahiri

December 27, 2023 | 5:53 pm

BYDDY

TSLA

VWAGY

Toyota Motor (NYSE:TM) is expected to maintain its position as the world's best-selling automaker, outperforming Volkswagen AG (OTC:VWAGY). Meanwhile, BYD Company Limited (OTC:BYDDY) is projected to surpass Tesla Inc (NASDAQ:TSLA) as the leading EV seller. Toyota's sales rose 12% YoY in November, with a significant increase in China. BYD's growth signifies China's rising dominance in the EV market. Tesla faces challenges with its Cybertruck and reported lower than expected Q3 deliveries. Tesla plans a Model Y revamp in Shanghai for mid-2024 production, but BYD is likely to outsell Tesla in the current quarter.

Portfolio Pulse from Upwallstreet

December 27, 2023 | 5:47 pm

SAM

Despite no federal legalization of marijuana or approval of the SAFE Banking Act, optimism persists in the cannabis industry. Experts predict 2024 could bring significant changes, including potential rescheduling of cannabis and advancements in minor cannabinoids and marijuana beverages. Industry leaders emphasize the importance of scalable solutions and cost management. Political dynamics may influence progress, with predictions of reclassification efforts and increased M&A activities. The cannabis sector is also expected to impact alcohol sales, with a projected increase in cannabis users and a decrease in alcohol consumers.

Portfolio Pulse from Nina Zdinjak

December 27, 2023 | 5:17 pm

DIS

Disney's 'Percy Jackson and the Olympians' reboot premiered on Disney+ and Hulu, attracting 13.3 million viewers in six days. The series, based on Rick Riordan's books, could boost Disney+ subscriptions, complementing its content library alongside 'Bluey', the most-watched series for kids in 2023. Despite calls to cancel Disney+ and Hulu subscriptions, strong content offerings for kids and teens may keep Disney+ competitive in the streaming market.

Portfolio Pulse from Chris Katje

December 27, 2023 | 4:57 pm