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DLTR

Dollar Tree has taken action in response to Wanabana's voluntary recall of its Apple Cinnamon Fruit Puree Pouch by locking its registers to prevent further sales of the product. The company has also removed the product from its website and currently has no financial information to share regarding the impact of the recall.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:00 pm

SAIA

BMO Capital Markets analyst Fadi Chamoun initiated coverage on Saia Inc (NASDAQ:SAIA) with a Market Perform rating and a price target of $450. Chamoun highlights SAIA's strong management and execution track record, and the company's ability to drive service levels with its 194 terminals. The analyst projects a FY23-FY28 EPS CAGR of 16.3% and expects revenue and EPS to grow over the next few years, with figures slightly differing from consensus estimates. SAIA recently reported Q3 FY23 revenue growth of 6.2% YOY, surpassing consensus estimates.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 8:02 pm

AMZN

BBY

COST

KSS

TGT

WMT

A Goldman Sachs survey indicates that 61% of consumers will spend the same or more during the 2023 holiday season, with a focus on discounts and sales. Amazon (AMZN) and Walmart (WMT) are expected to be top destinations for shoppers. Department stores like Macy's (M) and Kohl's (KSS) may see weaker performance. The survey also suggests that gift cards, toys, games, and apparel will be popular gift items. E-commerce is projected to grow at twice the rate of total retail, with Amazon particularly well-positioned due to its fulfillment capacity and fast delivery options. The timing of Christmas Eve could further benefit Amazon's last-minute delivery advantage.

Portfolio Pulse from Chris Katje

November 22, 2023 | 7:40 pm

BTCUSD

Mt. Gox, the defunct Bitcoin exchange, has announced plans to initiate cash repayments to creditors within 2023, with the process potentially extending into 2024. Rehabilitation Trustee Nobuaki Kobayashi has secured 7 billion yen from trust assets to facilitate repayments, with the remaining trust assets totaling 8.8 billion yen after repayments. This move is a significant step towards repaying all creditors after the exchange's collapse in 2014, which resulted in the loss of over 800,000 Bitcoin.

Portfolio Pulse from Murtuza Merchant

November 22, 2023 | 7:17 pm

ADSK

Mizuho analyst Matthew Broome downgraded Autodesk's price target from $220 to $200 while maintaining a Neutral rating, citing concerns over Autodesk's new transaction model that requires indirect customers to transact directly with the company. This change, which began in Australia and will roll out globally, could strain relationships with resellers. Despite solid Q3 results, Autodesk's FY25 revenue guidance of 9%+ growth is below expectations and its long-term target, reflecting a challenging operating environment. Autodesk's stock dropped 5.59% to $205.51.

Portfolio Pulse from Nabaparna Bhattacharya

November 22, 2023 | 6:34 pm

AMT

BRSP

CSGP

NREF

ORC

PLD

REM

TLT

XLRE

U.S. mortgage applications have increased by 3%, the largest weekly rise in two months, coinciding with a drop in the average contract interest rate for 30-year fixed-rate mortgages to 7.41%. The decline in mortgage rates is attributed to a reduction in U.S. bond yields, which also saw the 30-year Treasury bond yield fall to 4.53%. The iShares 20+ Year Treasury Bond ETF (TLT) has seen a 10% rally over the past month. Morgan Stanley predicts a 3% drop in home prices by the end of 2024 due to improving affordability. Real estate stocks and ETFs like XLRE, PLD, AMT, CSGP, and REM, as well as companies like NREF, BRSP, and ORC, have shown positive market reactions following the news.

Portfolio Pulse from Piero Cingari

November 22, 2023 | 5:04 pm

Deere & Company's CFO reported during a conference call that demand in Brazil weakened significantly more than anticipated in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:26 pm

SOL

Emeren Group Ltd (NYSE:SOL) shares dropped over 9% after reporting Q3 FY23 results with revenue of $13.95 million, significantly missing the consensus estimate of $28.29 million. The decline of 42% Y/Y was attributed to delayed government approval for a solar project in Hungary. Despite this, gross profit increased to $5.7 million with a higher margin compared to the previous year. The company posted an adjusted EBITDA loss and a loss per ADS, both missing consensus estimates. Emeren's FY23 outlook anticipates lower revenue than expected but projects a net income and a gross margin within a specific range. SOL's stock price fell to $2.3807.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 3:21 pm

USO

Venezuela's Deputy Oil Minister Erick Perez announced that the country is currently producing 850,000 barrels of oil per day, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:17 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS), a technology company, announced that its subsidiary, Charging Robotics Ltd., received approval for funding from the Israeli Innovation Authority for a pilot project on wireless EV charging in automated parking systems. The project, in cooperation with Parkomot Ltd., aligns with the Israeli Ministry of Energy's goals for EV market adoption. The total budget is approximately $445,000, with 50% financed by the Israel Innovation Authority.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:14 pm