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Revenues

ROST

Ross Stores forecasts a 1%-2% increase in same store sales for the 13 weeks ending January 27, 2024, indicating a positive outlook for the company's near-term performance.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:06 pm

BZH

HD

RDFN

The housing market is showing slight signs of recovery, with top-income earners buying homes and sellers offering concessions. Redfin Corp reports an increase in mortgage applications by 2.5% this week. High-income buyers are active, with the average income of homebuyers at $107,000. Despite a pause in Fed rate hikes, high mortgage rates persist, affecting the housing market. Beazer Homes USA is set to release earnings with high expectations after a 30% stock increase in the past month. Home Depot reported strong earnings, boosting construction and home builder stocks.

Portfolio Pulse from Natan Ponieman

November 16, 2023 | 8:16 pm

LLY

NVO

Eli Lilly and Co plans to build a €2 billion production plant in Alzey, Germany, to respond to the need for localized healthcare manufacturing and to meet the demand for its diabetes drug Mounjaro. The facility is expected to create over 1,000 jobs and may also produce diabetes medications for obesity treatment. Novo Nordisk A/S also announced a $6 billion investment to expand its facilities in Denmark for weight-loss products. LLY shares are trading at $588.60.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 7:56 pm

FSLY

Fastly, Inc. (NASDAQ:FSLY) shares are trading lower on Thursday despite being up nearly 95% year-to-date. The company reported record revenue in Q3, with sales of $127.82 million, a 17.8% increase year-over-year, and a smaller-than-expected quarterly loss of 6 cents per share. The stock is experiencing heavy trading volume, surpassing its 100-day average, and is a focus for short-sellers and retail investors, with 8.18% of shares sold short.

Portfolio Pulse from Erica Kollmann

November 16, 2023 | 6:37 pm

WSM

Williams-Sonoma, Inc (NYSE:WSM) reported Q3 FY23 sales of $1.854 billion, a 15.5% decrease YOY, missing estimates of $1.957 billion. Comparable brand revenue fell 14.6%. Adjusted EPS was $3.66, beating estimates of $3.35. Gross margin expanded to 44.4%, but gross profit dropped 9.7% to $822.6 million. Operating income decreased 7.2% to $315 million. The company has $698.8 million in cash. FY23 revenue is expected to decline 10%-12%, with higher operating margin and EPS. WSM shares rose 4.50% to $168.66.

Portfolio Pulse from Shivani Kumaresan

November 16, 2023 | 6:28 pm

CBSTF

The Cannabist Company Holdings Inc. is launching two flower brands, Seed & Strain and Classix, in Florida. Classix will be available from Nov. 20 at all 14 Cannabist locations in Florida, while Seed & Strain will debut on Nov. 28. Florida is the 15th market for both brands. The company's shares traded slightly lower at $0.3865 per share on Thursday morning.

Portfolio Pulse from Jelena Martinovic

November 16, 2023 | 6:02 pm

MSFT

Analysts from Wedbush, Oppenheimer, and Mizuho Securities are bullish on Microsoft Corp's AI expansion, particularly with its Copilot functionality. Wedbush raised the price target from $400 to $425, predicting significant adoption and a potential $20 billion revenue addition by FY25. Microsoft's AI and cloud services are expected to drive growth and margins in FY24 and FY25. Early Copilot users report a 29% increase in task efficiency. Mizuho highlighted Microsoft's upcoming custom silicon chips for AI and cloud, maintaining a Buy rating and a $420 price target. Microsoft shares traded higher by 1.50% at $375.16.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 5:46 pm

GOEV

Canoo has secured a contract with Prime Time Shuttle for the purchase of up to 550 electric vehicles. Prime Time Shuttle will acquire the Lifestyle Vehicle Premium Model over several years to enhance its sustainable fleet.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:34 pm

FMST

FMSTW

At Benzinga's 'Metals & Mining' Conference, Foremost Lithium President & CEO Jason Barnard stated that future demand for lithium will significantly exceed current levels, indicating a bullish outlook for the lithium market.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:08 pm

ARM

ARM Holdings (NASDAQ:ARM) is analyzed in comparison to its competitors in the Semiconductors & Semiconductor Equipment industry. ARM's financial metrics show a high P/E, P/B, and P/S ratios, indicating a premium valuation. However, its ROE is negative, and EBITDA is lower than the industry average, suggesting potential inefficiencies. Despite this, ARM's revenue growth outperforms the industry average. ARM's lower debt-to-equity ratio suggests a stronger financial position relative to its top 4 peers.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 4:00 pm