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LULU

Lululemon Athletica Inc. (NASDAQ:LULU) reported Q3 revenue of $2.2 billion, a 19% increase YOY, surpassing estimates of $2.19 billion. Earnings were $2.53 per share, beating the $2.28 consensus. The company announced a $1 billion share buyback program but provided Q4 guidance slightly below estimates. Analysts from JP Morgan, Needham, Barclays, Keybanc, Morgan Stanley, and Deutsche Bank raised their price targets on LULU. LULU shares rose nearly 3% to $478.00.

Portfolio Pulse from Erica Kollmann

December 08, 2023 | 4:45 pm

EFTR

eFFECTOR Therapeutics Inc (NASDAQ:EFTR) released interim data from a Phase 1/2 study of zotatifin in ER+ metastatic breast cancer patients. The ZFA triplet cohort showed a median progression-free survival of 7.4 months with a 26% partial response rate. Zotatifin was well tolerated with most adverse events being Grade 1 or 2. No serious adverse events were observed in the new ZF dose escalation cohorts, and enrollment continues at higher doses. Additional data is expected in the first half of 2024. EFTR shares rose 2.94% to $0.59.

Portfolio Pulse from Vandana Singh

December 08, 2023 | 4:43 pm

CUBE

EPRT

UHT

Three REITs, CubeSmart (CUBE), Universal Health Realty Income Trust (UHT), and Essential Properties Realty Trust Inc. (EPRT), have announced increases in their quarterly dividends. CubeSmart raised its dividend by 4.1%, Universal Health Realty by a small increment, and Essential Properties Realty Trust by 1.8%. These increases reflect the companies' confidence in maintaining or growing earnings and revenue. However, CubeSmart was downgraded by Bank of America Securities in October due to weakening demand for self-storage facilities, despite beating FFO and revenue estimates in Q3. Universal Health Realty's high payout ratio may limit future dividend growth, while Essential Properties Realty Trust has a well-covered payout ratio and received recent Buy ratings from B.Riley Securities, Stifel, and Truist Securities.

Portfolio Pulse from Ethan Roberts

December 08, 2023 | 4:36 pm

DPZ

Evercore ISI Group analyst David Palmer has maintained an Outperform rating on Domino's Pizza (NYSE:DPZ) and increased the price target from $435 to $450.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:31 pm

GTES

Gates Industrial Corporation plc (NYSE:GTES) stock fell by 4.4% after the announcement of a secondary offering of 15 million shares by selling stockholders affiliated with Blackstone Inc. The underwriters have a 30-day option to buy an additional 2.25 million shares. Gates will not offer any shares nor receive proceeds from the sale. The offering will close on December 13.

Portfolio Pulse from Henry Khederian

December 08, 2023 | 4:31 pm

TMO

Thermo Fisher Scientific (NYSE:TMO) has delivered an average annual return of 15.6% over the past 5 years, outperforming the market by 3.92% on an annualized basis. A $100 investment in TMO 5 years ago would be worth $206.76 today. The company currently has a market cap of $190.87 billion.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 4:30 pm

ULTA

Ulta Beauty (NASDAQ:ULTA) has significantly outperformed the market, with an average annual return of 30.43% over the past 15 years. A $100 investment in ULTA 15 years ago would be worth $5,263.90 today. The company's current market capitalization stands at $23.54 billion. This showcases the power of compounded returns over time.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 4:30 pm

IYJ

PEJ

XLV

XRT

The U.S. jobs growth in November surpassed expectations with 199,000 new jobs, influenced by the return of striking UAW workers and Hollywood screenwriters and actors. The manufacturing sector saw a net increase of 28,000 jobs, reflecting the return of 30,000 UAW members. Retail sector lost 38,000 jobs, with department stores accounting for half. Healthcare added 77,000 jobs, and leisure and hospitality added 40,000. Equity indices were flat, the dollar rose, and ETFs tracking these sectors showed varied early trade performance.

Portfolio Pulse from Neil Dennis

December 08, 2023 | 4:29 pm

JKS

GLJ Research analyst Gordon Johnson has reiterated a Sell rating on JinkoSolar Holding Co (NYSE:JKS) and reduced the price target from $19.32 to $11.74.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:29 pm

LLY

Eli Lilly and Company (NYSE:LLY) has announced a 15% increase in its quarterly dividend, raising it from $1.13 to $1.30 per share. The dividend will be payable on March 8, 2024, to shareholders of record as of February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:28 pm