Streetbeat News

Revenues

FMCC

HOUS

RDFN

RMAX

A Realtor.com study shows that the average down payment for homes in the U.S. decreased to 13.8% in 2023 from 14.7% in 2022. California cities lead with the highest median down payments, with San Jose-Sunnyvale-Santa Clara at the top with $235,183. Freddie Mac notes PMI costs $30-$70 per month per $100,000 borrowed. Redfin Corp., Zillow Group, Inc., Anywhere Real Estate Inc., and RE/MAX Holdings, Inc. are key players in the real estate market. ETFs like iShares U.S. Real Estate ETF and Real Estate Select Sector SPDR Fund offer diversified exposure to the sector.

Portfolio Pulse from Bibhu Pattnaik

November 19, 2023 | 7:11 pm

TSLA

Elon Musk's recent endorsement of an antisemitic conspiracy theory has led to backlash from Tesla owners, with some reconsidering future purchases of Tesla vehicles. The controversy has affected Tesla's brand reputation, causing concern among drivers about being associated with the company. Tesla investor Ross Gerber plans to switch from a Tesla Model Y to a Rivian vehicle, reflecting a potential shift in consumer loyalty.

Portfolio Pulse from Anan Ashraf

November 18, 2023 | 1:57 pm

AAPL

DIS

IBM

WBD

Elon Musk has expressed his dissatisfaction with IBM Corp. (NYSE:IBM) for potentially withdrawing ads from TikTok over posts supporting Osama Bin Laden's manifesto. Musk has been critical of nonprofit organizations like Media Matters and ADL, blaming them for a significant drop in X's advertising revenue. Other companies, including Apple Inc. (NASDAQ:AAPL), The Walt Disney Co. (NYSE:DIS), and Warner Bros. Discovery Inc. (NASDAQ:WBD), have also pulled ads from X after a report by Media Matters about ads being displayed next to content promoting Adolf Hitler and the Nazi Party.

Portfolio Pulse from Rounak Jain

November 18, 2023 | 8:36 am

AMZN

Amazon Inc. (NASDAQ:AMZN) is planning to lay off several hundred employees in its Alexa division as the company shifts its focus towards generative AI development. The internal memo from Daniel Rausch, VP of Alexa and Fire TV, indicates a strategic realignment with business priorities, leading to the discontinuation of some initiatives. This follows Amazon's previous layoffs in its Devices & Services division and cutbacks in other sectors. The company's commitment to AI was highlighted by the recent introduction of the 'Let's Chat' feature for Alexa, powered by generative AI.

Portfolio Pulse from Benzinga Neuro

November 18, 2023 | 2:59 am

IWM

NVDA

QQQ

SPY

TLT

WMT

XLB

XLRE

US stock markets recorded a third consecutive week of gains, driven by softer-than-expected inflation data. The iShares Russell 2000 ETF (IWM) led with over 5% gains, while the S&P 500 and tech stocks also rose. Real Estate and Materials sectors outperformed, and long-term Treasuries gained. Walmart's stock dropped despite beating sales expectations due to a cautious outlook. Upcoming events include the release of Fed meeting minutes and earnings reports from Nvidia, Lowe's, Analog Devices, and Deere & Company.

Portfolio Pulse from Piero Cingari

November 17, 2023 | 9:36 pm

OCG

Oriental Culture Holding reported a significant decrease in earnings and revenue for the first half of 2023, with EPS dropping to $(0.50) from $1.34 year-over-year, and revenue falling to $0.8M from $17M in the same period.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:35 pm

TOON

Kartoon Studios (NYSE:TOON) provided a Q3 2023 business update, expecting growth resumption post-industry slowdown. Mainframe Studios, an affiliate, is benefiting from post-strike content demand with a robust pipeline. Kartoon Channel! anticipates its first-ever break-even EBITDA in Q4 2023. New CFO Brian Parisi, with experience from the NFL and Live Nation, aims at value creation and sustainable earnings. The company reported Q3 revenue of $10.1 million and $35.3 million for nine months, with current assets of $61.4 million and stockholders' equity of $74.0 million.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:35 pm

PNRG

PrimeEnergy reported a decrease in earnings per share (EPS) to $4.13 in Q3 2023 from $4.88 in the same quarter the previous year. Revenue also declined to $35.360 million from $39.651 million year-over-year (YoY).

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:12 pm

IBTI

IBTM

Foreign investors were net sellers of U.S. government debt in September, marking the first time in over two years. The Federal Reserve is selling $60 billion a month of its Treasury holdings, while the Treasury has issued $2 trillion in new debt this year. Despite falling foreign demand, Treasury ETFs like iShares iBonds Dec 2028 Term Treasury ETF (IBTI) and iShares iBonds Dec 2032 Term Treasury ETF (IBTM) have risen recently. The decline in foreign buying, particularly from China and Japan, has been offset by increased spending on Treasuries from the Middle East and Latin America.

Portfolio Pulse from Neil Dennis

November 17, 2023 | 8:54 pm

KSS

Kohl's Corp (NYSE:KSS) stock rose by 7.4% to $25.58 following strong earnings reports from Gap Inc and Ross Stores, indicating a positive trend in the retail and apparel sector. Gap's earnings per share of 59 cents exceeded expectations of 18 cents, with quarterly sales of $3.767 billion beating estimates of $3.610 billion, despite being a 7% decrease from the previous year. This sector-wide performance suggests increased consumer confidence, which could bode well for Kohl's and similar companies.

Portfolio Pulse from Henry Khederian

November 17, 2023 | 8:40 pm