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DTC

Solo Brands has revised its full-year 2023 revenue guidance downward, which is now below market estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:35 pm

BAC

BLK

JPM

SPY

WFC

Equity markets are facing pressure as investors await Q4 earnings season for guidance on the potential continuation of the late 2023 rally. The S&P 500 and SPDR S&P 500 ETF (SPY) experienced their first loss after nine weeks of gains. Factors contributing to market uncertainty include high stock valuations, over-optimistic Federal Reserve rate cut expectations, geopolitical tensions, and economic slowdown concerns. Earnings from major financial firms like Bank of America (BAC), BlackRock (BLK), CitiGroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC) this week are highly anticipated as they may set the tone for the overall earnings season and 2024 outlooks. Zacks estimates a marginal Q4 earnings growth for S&P 500 companies, and consumer sentiment appears to be improving with expectations of easing inflation and potential Fed rate cuts.

Portfolio Pulse from Neil Dennis

January 08, 2024 | 2:34 pm

WHF

B. Riley Securities analyst Bryce Rowe has downgraded WhiteHorse Finance (WHF) from Buy to Neutral and set a price target of $13.25. The downgrade reflects a more cautious stance on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:31 pm

MCD

Over the past 20 years, McDonald's (NYSE: MCD) has produced an average annual return of 12.98%, outperforming the market by 5.65% on an annualized basis. A $100 investment in MCD stock 20 years ago would be worth $1,152.69 today. The company's current market capitalization is $209.61 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:30 pm

CCI

Over the past 20 years, Crown Castle (NYSE:CCI) has delivered an average annual return of 11.63%, outperforming the market. A $100 investment in CCI 20 years ago would be worth $900 today. Crown Castle currently has a market cap of $49.18 billion.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:30 pm

PTCT

PTC Therapeutics projects its FY23 revenue to be approximately $946 million, slightly above the consensus estimate of $936.85 million.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:30 pm

CTKB

Cytek Biosciences, Inc. (NASDAQ:CTKB) announced preliminary, unaudited FY23 revenue results, expecting to be near the high end of its $188M-$192M guidance range. The results are subject to year-end closing and audit adjustments. Cytek will provide finalized Q4 and FY23 results and 2024 guidance in an earnings call by end of February 2024. The announcement comes ahead of CEO Wenbin Jiang's presentation at the J.P. Morgan Healthcare Conference.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:30 pm

PHAR

Pharming Group (NASDAQ:PHAR) has updated its full-year 2023 guidance, projecting a 19% revenue increase to approximately $245 million, with RUCONEST revenues expected to rise by 10% to about $227 million. The company also anticipates Joenja revenues of around $18 million following its U.S. launch for APDS. As of December 31, 2023, PHAR reported 92 APDS patients enrolled in the U.S., with 81 on paid therapy, and preliminary cash and securities of $215 million. CEO Sijmen de Vries outlined goals for 2024, including global regulatory approvals and expansion of leniolisib's market. PHAR shares saw a slight decrease of 0.03% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 08, 2024 | 2:27 pm

AAPL

AMZN

GOOGL

META

MSFT

NVDA

TSLA

Charles-Henry Monchau, CIO of Bank Syz, predicts a market rotation away from major U.S. tech stocks, which could lead to a downturn for the 'magnificent seven' tech giants. These stocks, including Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla, make up about 30% of the S&P 500's market cap. The S&P 500 recently ended a nine-week winning streak, with tech stocks underperforming. Monchau expects a technical recession in the first half of the year, followed by a recovery, with sectors like financials, energy, and healthcare showing potential. Scott Wren of Wells Fargo shares similar views on the market shift.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 2:27 pm

HRZN

B. Riley Securities analyst Bryce Rowe has downgraded Horizon Tech Finance (NASDAQ:HRZN) from Neutral to Sell and set a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:27 pm