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Revenues

LFLY

Leafly (NASDAQ:LFLY), a leader in cannabis discovery and education, announced 'Permanent Marker' as the 2023 Strain of the Year. This Indica-dominant hybrid has gained popularity with its high THC levels and sedative effects. The selection is based on Leafly's comprehensive analysis of consumer interest, market impact, and budtender recommendations. Past winners of the award have seen significant success, indicating the influence of this recognition in the cannabis industry.

Portfolio Pulse from Javier Hasse

December 05, 2023 | 4:16 pm

LE

Lands' End Inc (NASDAQ:LE) reported a Q3 FY23 sales decline of 12.5% Y/Y to $324.74 million, missing estimates. Global eCommerce revenue fell 13.2% Y/Y. Adjusted EPS loss was $(0.11), beating consensus. Gross margin expanded to 47%, and gross profit rose 2.8% Y/Y. Operating loss was $(101.31) million, compared to income last year. Cash stood at $38.65 million, with a 25.3% inventory reduction. Adjusted EBITDA increased slightly. LE repurchased $3 million in stock, with $31.8 million left in the program. Q4 and FY23 outlooks were provided, with shares trading up 10.98%.

Portfolio Pulse from Akanksha Bakshi

December 05, 2023 | 3:45 pm

ACRHF

CURLF

GTBIF

New York authorities seized over 11,000 pounds of illegal cannabis products worth $54 million from unlicensed stores. 350 locations have been raided this year. The Office of Cannabis Management aims to prioritize safety and promote legal dispensaries. Legal battles, including a lawsuit by veterans against the state's licensing process, have delayed the cannabis program. The injunction was lifted last week, allowing for license processing. New York has 27 licensed dispensaries, competing with 1200 illicit shops. Acreage Holdings, Curaleaf, and Green Thumb Industries are monitoring the situation closely.

Portfolio Pulse from Maureen Meehan

December 05, 2023 | 3:38 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped after a 30% rise on Monday. The decline follows the company's announcement of new deliveries of the All-Electric Class 3, Mullen Three, to Randy Marion Automotive Group, a major U.S. commercial fleet dealer. Despite the news, MULN shares are trading above their 50-day moving average and have a high short interest of 12.83%. The stock is currently down by 5% at 20 cents.

Portfolio Pulse from Erica Kollmann

December 05, 2023 | 3:29 pm

BAC

SPY

Bank of America CEO Brian Moynihan appeared live on CNBC to discuss consumer spending trends. The discussion likely covered the bank's insights into spending patterns, which could reflect the broader economic health and consumer confidence.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:20 pm

INTR

Inter&Co, a financial services company, has surpassed 30 million clients, indicating significant growth and progress towards its five-year business plan. This milestone suggests a strong market presence and potential for future expansion.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:05 pm

VZ

Verizon has expanded its partnership with TechSTL to promote digital equity in St. Louis. The collaboration includes the Verizon Forward Community Enhancement Award, with a $100,000 award for the TechLAUNCH program aimed at advancing technology skills and opportunities in the region.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:02 pm

BABA

FXI

PDD

Alibaba Group Holding Ltd (BABA) stock is trading lower, in line with the IShares China Large-Cap ETF (FXI), due to Moody's negative outlook on China's credit ratings. Alibaba lost its position as China's most valuable e-commerce company to PDD Holdings Inc (PDD). Cainiao, Alibaba's logistics arm, helped China achieve a record 120 billion parcel deliveries in 2023. Alibaba (China) Network Technology has transferred equity stakes in several companies to Hangzhou Haoyue Enterprise Management, including stakes in Focus Media and YTO Express.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 3:00 pm

F

GM

RIVN

TSLA

Tesla Inc (TSLA) and Rivian Automotive (RIVN) are redefining automotive concepts with the delivery of Tesla's Cybertruck and Rivian's opening of its flagship store in a historic theater. Tesla's Cybertruck, with its unique design, enters the lucrative pickup segment, while Rivian's store aims to create a unique retail experience. The electric pickup market is growing, with Rivian and Ford's (F) electric pickups seeing sales increases. General Motors (GM) plans to challenge Tesla with more affordable EV models and aims to sell 1 million EVs by 2025.

Portfolio Pulse from Upwallstreet

December 05, 2023 | 2:27 pm

HOV

Hovnanian Enterprises expects Q1 revenues to be in the range of $525M-$625M with an adjusted homebuilding gross margin projected to be between 22.0% and 23.5%.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:25 pm