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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

CMCSA

The 2023 Macy's Thanksgiving Day Parade broadcasted by NBC, a Comcast Corporation (NASDAQ:CMCSA) network, set a new viewership record with 28.5 million viewers, a 6% increase from the previous year. It was the most-watched entertainment program of 2023 on linear television. The parade's success, along with high viewership for 'The National Dog Show' and the NFL Thanksgiving Night Game on NBC and Peacock, could positively impact Comcast's brand and viewership metrics. Macy's Inc (NYSE:M), as a key sponsor, could benefit from increased brand awareness and marketing.

Portfolio Pulse from Chris Katje

November 27, 2023 | 5:00 pm

PKG

Packaging Corp. has informed customers of a price increase for linerboard and semi-chem medium, effective January 1. Linerboard prices will rise by $70 per ton, and semi-chem medium prices by $100 per ton, as reported by Seaport Research Partners.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 5:00 pm

AMZN

FDX

UPS

Amazon (AMZN) has become the largest delivery business in the U.S. by parcel volumes, surpassing UPS and FedEx. In 2022, Amazon delivered more packages than UPS and had already overtaken FedEx in 2020. Despite this, the U.S. Postal Service remains the largest by volume. Amazon's growth and strategic changes at UPS and FedEx have altered the delivery landscape. Amazon focuses on profitable routes and leverages AI for efficient deliveries, while UPS and FedEx prioritize more profitable parcels. AMZN shares were up 1.1% on the news.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 4:31 pm