Streetbeat News

Revenues

FTHM

Fathom Holdings Inc. (NASDAQ:FTHM), through its subsidiary Fathom Realty, announced a revised agent commission structure expected to add $3.1M to its EBITDA in 2024. The changes include an increase in the annual fee from $600 to $700 and a new 'High-Value Property Fee' for properties over $600,000, which adds $200 to $250 based on the property price. The company believes these changes will minimally impact agents while aiding Fathom's growth objectives.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:10 pm

ANF

Abercrombie & Fitch Co (NYSE:ANF) shares rose 3.1% to $75.59, hitting a new 52-week high, driven by positive retail sales data from Mastercard SpendingPulse. U.S. retail sales on Black Friday increased 2.5% year over year, with e-commerce sales up 8.5%. ANF's performance reflects consumer engagement and brand loyalty, with both online and in-store sales showing stability despite economic uncertainty.

Portfolio Pulse from Henry Khederian

November 27, 2023 | 8:45 pm

SEEL

The Department of Defense is funding a Phase 2 study to test Seelos Therapeutics' SLS-002, an intranasal racemic ketamine, on 600 service members and veterans for PTSD treatment. The study will assess safety, tolerability, and efficacy over a 12-week treatment period with a 30-day screening and four-week follow-up. Seelos has two IND applications with the FDA for SLS-002 for acute suicidal ideation and behavior in MDD and PTSD. The study, expected to start soon in Georgia, will be completed by 2026. PTSD incidence has risen among veterans, and ketamine shows promise as a rapid and effective treatment for depression, suicidality, and PTSD.

Portfolio Pulse from Lara Goldstein

November 27, 2023 | 7:48 pm

JWN

Nordstrom Inc (NYSE:JWN) stock is trading higher by 0.90% to $15.21 during Monday's session, likely influenced by positive retail industry performance during Black Friday and Cyber Monday. Mastercard SpendingPulse reported a 2.5% increase in U.S. retail sales and an 8.5% rise in e-commerce sales year over year for Black Friday. The strong sales data during these key shopping events may indicate a healthy consumer spending environment, which could boost investor confidence in retail stocks like Nordstrom.

Portfolio Pulse from Henry Khederian

November 27, 2023 | 7:00 pm

AMZN

ASO

BBWI

BBY

DKS

HIBB

LULU

NKE

TGT

YETI

Analysts provided insights on Black Friday trends, highlighting healthy traffic and discounts. BofA's Justin Post reiterated a Buy rating on Amazon (AMZN) with a $168 target. Academy Sports (ASO) and Dick's Sporting Goods (DKS) saw robust traffic, while YETI (YETI) faced increased competition. Goldman Sachs noted mixed traffic, with Best Buy (BBY), Bath & Body Works (BBWI), and Lululemon (LULU) performing well. Target (TGT) had some out-of-stock items. Morgan Stanley's Alex Straton observed flat to down year-over-year traffic, while Oppenheimer's Brian Nagel was upbeat on athleisure stocks like Nike (NKE). Telsey Advisory Group's Dana Telsey reported a successful Black Friday weekend with well-managed inventories and significant sales.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 6:55 pm

JNJ

Janssen, part of Johnson & Johnson, has submitted an application to the EMA for approval of RYBREVANT (amivantamab) in combination with chemotherapy for treating advanced EGFR-mutated NSCLC after prior therapy failure. The submission is based on Phase 3 MARIPOSA-2 study results, which showed significant improvements in progression-free survival compared to chemotherapy alone. Amivantamab was previously granted conditional marketing authorization by the European Commission in December 2021 for monotherapy treatment of NSCLC with EGFR exon 20 insertion mutations after platinum-based chemotherapy failure.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 6:36 pm

AFRM

QQQ

SHOP

SPY

Consumers spent a record $9.8B online on Black Friday, up 7.5% from last year, with overall sales rising 2.5% according to Mastercard. Foot traffic in stores also increased by 2.1%. Cyber Monday is expected to generate about $12B in online sales. Stocks of Affirm Holdings Inc and Shopify Inc are being bought by investors due to their roles in e-commerce and buy now pay later services. However, enthusiasm is tempered by data from China showing a 7.8% fall in October Industrial Profits. Money flows are positive for Apple, Amazon, Microsoft, NVIDIA, and Tesla, but negative for Alphabet and Meta Platforms, and mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust. Gold is above $2000, with buying from the momo crowd. Oil is lower due to OPEC+ disagreements, and Bitcoin is range-bound.

Portfolio Pulse from The Arora Report

November 27, 2023 | 6:08 pm

ANF

CROX

ELF

GPS

LULU

SKX

UAA

Retail stocks are up due to Black Friday and Cyber Monday sales events. Mastercard SpendingPulse reported a 2.5% increase in US retail sales and an 8.5% rise in e-commerce sales compared to last year.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 5:54 pm

AMZN

ETSY

E-commerce and internet retail stocks are up following Mastercard SpendingPulse data indicating an 8.5% increase in e-commerce sales on Black Friday. Investors are now anticipating Cyber Monday sales data.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 5:40 pm

AMT

CCI

SBAC

XHB

XLRE

The U.S. housing market in October 2023 showed mixed signals with a 5.6% decrease in new single-family home sales from September, but a 17.7% increase year-over-year. Median sales prices stood at $409,300, and inventory at 439,000. Building permits rose by 1.8% from the previous month. Real estate stocks had varied responses, with the Real Estate Select Sector SPDR Fund (XLRE) up by 0.4% and the SPDR S&P Homebuilders ETF (XHB) down by 0.3%. Crown Castle Inc. (CCI), SBA Communications Corporation (SBAC), and American Tower Corporation (AMT) saw share increases.

Portfolio Pulse from Piero Cingari

November 27, 2023 | 5:04 pm