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APEUSD

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Cryptocurrency tokens linked to Web3 gaming projects, including Axie Infinity (AXS), ApeCoin (APE), and Illuvium (ILV), have seen significant gains in the past week. AXS rallied by 20%, APE by 19%, and ILV by 23%, with all three ranking among the top 100 cryptocurrencies by market cap. Decentraland (MANA) and The Sandbox (SAND) also reported gains of 12% and 9%, respectively. Developments such as Axie Infinity's relaunch of 'Axie Classic', the potential use of APE in the Otherside metaverse game, and Illuvium's Beta 3 release contributed to the surge. The Sandbox's partnership with CoinDCX for BharatBox, a cultural metaverse hub, was also highlighted. The Blockchain Gaming Market study predicts the market will grow at a CAGR of 60.4% to $772.7 billion by 2032, driven by NFTs and digital ownership.

Portfolio Pulse from Khyathi Dalal

November 29, 2023 | 4:24 pm

BILI

Bilibili's stock price is down following the report of a year-over-year decline in Q3 revenue and the release of FY23 revenue guidance that suggests continued challenges.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:05 pm

CSGP

CoStar Group (NASDAQ:CSGP) is analyzed against competitors in the Real Estate Management & Development industry. It has a lower P/E ratio, suggesting undervaluation, but higher P/B and P/S ratios, indicating potential overvaluation based on book value and sales. CoStar's ROE is below the industry average, and its EBITDA and gross profit are lower than peers, hinting at possible financial challenges. However, the company's revenue growth outpaces the industry, suggesting strong sales expansion and market share gain. CoStar maintains a moderate debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 4:00 pm

ZH

Zhihu Inc (NYSE:ZH) reported Q3 FY23 revenue of $140.1 million, a 12.1% increase Y/Y but below the consensus of $143.6 million, leading to a stock price decline. Adjusted loss per ADS was $(0.05), better than the expected $(0.06). Marketing services revenue fell 17.1% Y/Y, while paid membership and vocational training revenues grew significantly. MAUs and monthly paying members increased. Gross margin decreased due to monetization efforts and cloud services. The company has $775 million in cash and equivalents. ZH shares dropped 1% to $1.01.

Portfolio Pulse from Anusuya Lahiri

November 29, 2023 | 3:30 pm

BNGO

Bionano Genomics announced a publication showcasing the use of its Optical Genome Mapping (OGM) technology to evaluate the genome integrity of CRISPR-edited cells, which is crucial for gene therapy development. This development highlights the potential of Bionano's technology in the gene therapy space, which could lead to increased interest and adoption of OGM in research and clinical settings.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:10 pm

SPY

In a CNBC interview, Reuters reports that Fed's Barkin has found the revised consumer spending data to be more aligned with the anecdotal evidence he has been hearing. This suggests that the updated figures may better reflect the current economic situation as observed by market participants and policymakers.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:05 pm

HRL

Hormel Foods Corp (NYSE:HRL) reported a Q4 FY23 sales decline of 2.6% Y/Y to $3.198 billion, missing estimates. Adjusted EPS of $0.42 also missed estimates. Gross margin and operating income fell, while SG&A expenses rose. The company forecasts lower FY24 earnings due to challenges in turkey markets and China business, expecting a decline in H1 earnings. HRL shares dropped 1.10% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

November 29, 2023 | 2:30 pm

FLNC

Fluence Energy's stock is trading higher following the release of their Q4 financial results and the announcement of their revenue guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:20 pm

VRT

Vertiv Holdings has increased its FY23 revenue forecast from the range of $6.826B-$6.851B to $6.875B-$6.895B, which is above the estimated $6.85B.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:08 pm

NVEI

Nuvei Corporation has launched a card issuing solution in 30 markets, enabling clients to issue physical and virtual white-labelled cards. This service enhances working capital efficiency, improves authorization rates, offers seamless payouts, and increases customer loyalty. The solution is available in the European Economic Area, with plans to expand to the UK, US, and Latin America in 2024. Nuvei's CEO, Philip Fayer, highlights the solution's practical applications and its role in accelerating client business and expanding Nuvei's market.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:03 pm