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Revenues

EIS

SPY

USO

Elon Musk announced that X Corp will donate all proceeds from advertising and subscriptions related to the War in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 7:51 pm

YOU

Needham analyst Joshua Reilly reiterated a Buy rating on Clear Secure Inc (NYSE:YOU) with a $40 price target, citing potential ARPU growth from recent pricing strategy changes. The analyst expects increased ARPU in FY24 due to price increases, a shift in customer mix towards full-price members, and the diminishing negative impact of Amex Platinum pricing step-downs. Reilly projects Q4 revenue and adjusted EPS to slightly exceed consensus estimates. Shares of YOU traded slightly higher.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 7:33 pm

MARK

Remark Holdings reported a year-over-year decrease in Q3 revenue, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 5:29 pm

BURL

Burlington Stores Inc (NYSE:BURL) reported Q3 FY23 revenue growth of 12% year-over-year to $2.289 billion, slightly missing consensus estimates. Comparable store sales rose by 6%, and adjusted EPS was $0.98, within guidance. Gross margin improved, and inventories decreased compared to last year. CEO Michael O'Sullivan expressed optimism for the holiday season but acknowledged external uncertainties. The company raised its FY23 adjusted EPS outlook and expects sales growth of approximately 11%. BURL shares surged 21.4% following the report.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 5:28 pm

KSS

Kohl's reported disappointing Q3 sales results and provided updated guidance, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:49 pm

DHI

LEN

PHM

TOL

XHB

Despite a slowdown in home sales and high interest rates, homebuilder stocks have outperformed the market in 2023. DR Horton, Lennar Corporation, Toll Brothers, and PulteGroup have seen significant gains. The SPDR Homebuilders ETF also rose. The sector's resilience is attributed to a strong desire for homeownership and limited housing supply. Supply chain issues persist, but housing starts are expected to increase as these ease. The sector's outlook for 2024 is cautiously optimistic, with potential risks from economic slowdown and labor market weakening.

Portfolio Pulse from Neil Dennis

November 21, 2023 | 4:43 pm

ATUS

CHTR

CMCSA

DISH

The FCC Chair has proposed a ban on early termination fees charged by cable and satellite TV providers. This move could affect companies like ATUS, CHTR, CMCSA, DISH, T, and VZ by potentially reducing their revenue from such fees.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:39 pm

Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares dropped after reporting Q3 FY23 revenue of $222.754 million, below the expected $244.77 million, and a 17.5% Y/Y decline. Adjusted EPS was $(0.18), worse than the $(0.17) loss forecasted. The fall in revenue was attributed to scaling down CDN services and phasing out unprofitable clients. Public cloud services revenue decreased by 24.5%, and enterprise cloud services by 2.2%. However, gross profit rose by 60.3%, with a gross margin of 12.1% compared to 6.2% in the previous year, due to strategic adjustments and cost control. The company has $358.0 million in cash and equivalents. CEO Tao Zou plans to deepen strategic planning with Xiaomi and Kingsoft for AI cloud demand. KC shares fell by 12.16% to $4.84.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 4:39 pm

RCEL

AVITA Medical's stock is trading lower following the company's announcement of reduced revenue guidance for FY23, which falls below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:28 pm

ITB

XLRE

Morgan Stanley predicts a 3-5% drop in home prices in 2024, indicating a shift towards more affordable housing as mortgage rates ease. Freddie Mac reports the average 30-year fixed mortgage rate at 7.44%. Homeowners' reluctance to sell low-rate mortgages has led to the least affordable market since the 1980s. Goldman Sachs expects a modest 3% price drop by end of 2024. Real estate stocks, including REITs, have seen a positive trend in November, with the Real Estate Select Sector SPDR Fund (XLRE) up nearly 10%, and the U.S. iShares Home Construction ETF (ITB) up nearly 19%.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 4:06 pm