Streetbeat News

Revenues

NTZ

Natuzzi reported Q3 2023 sales of €74.9M, a 35.8% decrease from Q3 2022, and a 15.0% decrease from Q3 2019. Branded sales increased by 4.3% compared to Q3 2019. The company saw a positive change in written orders, particularly in the US market, ending a 15-month negative trend. Gross margin improved to 35.4% due to pricing discipline and cost management. However, Natuzzi experienced an operating loss of €1.3M, compared to a profit in Q3 2022. Cash flow from operating activities was positive at €2.3M, and the company invested €2.9M in retail and factory upgrades. As of September 30, 2023, cash reserves were €37.1M. Natuzzi is focusing on cost and capital efficiency, reducing fixed costs, and selling non-strategic assets. The company anticipates ongoing economic challenges but remains confident in its long-term growth strategy.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 4:53 am

SPY

RBC Capital Markets predicts the S&P 500 will reach a milestone of 5,000 points in 2024, a 10% increase from its last closing. This bullish outlook is supported by five models analyzing sentiment, valuation and earnings, the economy, politics, and stock-bond interrelation. The forecast aligns with other optimistic views from Wall Street, despite potential volatility from the 2024 presidential election.

Portfolio Pulse from Benzinga Neuro

November 27, 2023 | 3:31 am

AMZN

Elon Musk criticized Amazon for pulling ads from his social media platform X after he endorsed an antisemitic post, while Amazon faces backlash for selling 'Hamas-style' headbands and t-shirts. Musk called out the double standard as Amazon paused advertising on X due to pressure from an activist organization. X is projected to lose up to $75 million in ad revenue by year-end, but the impact is uncertain as some advertisers have returned or increased spending.

Portfolio Pulse from Shanthi Rexaline

November 26, 2023 | 3:52 pm

HOUS

RDFN

RMAX

Experts predict a decline in home prices due to a significant slowdown in housing activity, influenced by the Federal Reserve's anti-inflation measures leading to high mortgage rates. Mark Zandi of Moody's and Glenn Kelman of Redfin foresee a potential drop in prices, with Zandi not expecting a market recovery until 2025 or 2026. Kelman notes an increase in housing inventory and price adjustments, suggesting a possible spur in sales. ETFs like iShares U.S. Real Estate ETF and Vanguard Real Estate ETF, and stocks such as Zillow Group, Inc (Z), Redfin Corporation (RDFN), Anywhere Real Estate Inc. (HOUS), and RE/MAX Holdings, Inc. (RMAX) offer investment opportunities in the real estate sector.

Portfolio Pulse from Bibhu Pattnaik

November 25, 2023 | 7:57 pm

AAPL

XIACF

Global smartphone sales increased by 5% year-on-year in October, ending a 27-month decline, largely due to the release of Apple Inc.'s iPhone 15 and Huawei's Mate 60 Pro. Emerging markets contributed to the growth, while developed markets saw slower recovery. Samsung leads the market share, followed by Apple and Chinese brands Xiaomi, Oppo, and Vivo. The positive sales trend suggests a potential recovery in the smartphone market.

Portfolio Pulse from Nabaparna Bhattacharya

November 25, 2023 | 6:08 pm

AAPL

ABNB

AMZN

DIS

MSFT

ORCL

WBD

Elon Musk's social media platform X is facing a potential loss of $75 million in ad revenue due to his support for an antisemitic post. Major advertisers like Disney and Warner Bros Discovery have paused their campaigns, and over 200 ad units from companies including Airbnb, Amazon, Coca-Cola, and Microsoft are reevaluating their strategies on X. The platform has seen a drop in U.S. ad revenue by at least 55% year-over-year each month since Musk's takeover. X has also filed a lawsuit against Media Matters for defamation.

Portfolio Pulse from Bibhu Pattnaik

November 25, 2023 | 4:51 pm

AAPL

AMZN

BBY

CROX

DKS

KSS

MSFT

SONY

SSNLF

WMT

EY-Parthenon forecasts a moderate 3% rise in retail sales during the 2023 holiday season, down from previous years. Despite inflation, retailers are offering significant Black Friday deals to attract customers. Amazon is discounting tech products, Best Buy has cut MacBook Air prices, and Crocs offers discounts on clogs. Dick's Sporting Goods, Kohl's, Microsoft, Samsung, Sony, and Walmart are also providing various deals. Zoom Video Communications is believed to be offering discounts on its services. Other retailers like Birkenstock, Costco, Dell, Gap, Macy's, Motorola, Nike, VIZIO, Wayfair, and Williams-Sonoma are mentioned for their Black Friday sales.

Portfolio Pulse from Anthony Noto

November 24, 2023 | 7:27 pm

BBY

FSLR

JWN

NVDA

TLT

U.S. stocks saw their fourth consecutive week of gains, with small-cap stocks outperforming and tech stocks underperforming as Treasury yields rose. The iShares 20+ Year Treasury Bond ETF (TLT) fell 1.1% due to the yield surge. Gold remained steady at $2,000/oz. Sector-wise, healthcare stocks led gains while communication services and technology lagged. Nordstrom (JWN) and Best Buy (BBY) saw stock increases due to Black Friday discounts, while NVIDIA (NVDA) and First Solar (FSLR) declined. Cryptocurrencies, including Bitcoin and Ethereum, rose.

Portfolio Pulse from Piero Cingari

November 24, 2023 | 6:52 pm

AMZN

BBY

COST

TGT

WMT

Cyber Monday 2023 is expected to break records with $12 billion in sales, up 6% from 2022. Amazon, Target, Walmart, Best Buy, and Costco are gearing up with deals. Amazon and Target stocks are trading below consensus price targets, suggesting a bargain, while Walmart's stock is also seen as undervalued. Best Buy and Costco stocks are trading above their consensus price targets, indicating they may not be bargains.

Portfolio Pulse from Surbhi Jain

November 24, 2023 | 6:51 pm

SAVE

Spirit Airlines Inc (NYSE:SAVE) has launched a Black & Yellow Friday sale from November 24-26, offering one-way flights starting at $20 and bonus Free Spirit Points for bookings made during the sale period. Customers can earn up to 500 points for roundtrip flights and 250 points for one-way flights. Additionally, Spirit Vacations is offering a 20% discount on all-inclusive resorts in various destinations. Despite a 6.3% year-over-year decline in Q3 FY23 revenue, the company's financial performance slightly beat consensus estimates. Spirit's stock closed slightly higher on Friday.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 6:12 pm