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The crypto markets are experiencing a downturn with significant liquidations and a drop in the global crypto market cap. Bitcoin's dominance stands at 52.0%, and most cryptocurrencies are trading sideways or in the red, except for USDC and AVAX. The market is awaiting the FOMC's final meeting of 2023 and inflation data, with expectations that the Fed will maintain interest rates. Bitcoin has declined to $40,978, a 6.6% drop, with Ethereum and XRP seeing similar losses. The market is also looking forward to the Bitcoin halving event and the potential approval of a spot Bitcoin ETF.

Portfolio Pulse from Khyathi Dalal

December 11, 2023 | 7:55 pm

GIL

Gildan Activewear's stock is trading lower following the announcement that Glenn J. Chamandy has stepped down as President, CEO, and director. Chamandy released a statement after the company's announcement.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 7:53 pm

FIVE

TGT

WMT

Telsey Advisory Group (TAG) provided an industry update on Walmart (WMT), Five Below (FIVE), and Target (TGT), rating all three stocks as Outperform with price targets of $185, $220, and $160 respectively. The stores were praised for their festive atmospheres and well-stocked shelves ahead of the holiday season. Walmart's remodeled store in Teterboro, N.J., was highlighted for its holiday cheer and strategic initiatives. Five Below's stores in Clifton and Paramus, N.J., were noted for their value products and new store format, Five Beyond. Target's stores were also holiday-ready with attractive displays and a focus on value offerings, despite concerns about tight consumer spending on discretionary products.

Portfolio Pulse from Surbhi Jain

December 11, 2023 | 7:48 pm

HPQ

HP shares have risen following an upgrade from Evercore ISI, which changed its rating from In-Line to Outperform and increased the price target from $33 to $40.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 7:45 pm

ILMN

Illumina's stock price has increased following an upgrade by Citigroup from Sell to Neutral, with a raised price target from $85 to $120.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 7:41 pm

AAPL

META

MSFT

Meta Platforms, Inc's (NASDAQ:META) Instagram Threads is set to launch in the European Union on December 14, after its initial release in the U.S. and U.K. in July. A countdown timer on the Threads website indicates the launch, and users in Europe can find a digital invitation within the Instagram app. The launch details, including which EU countries will have access, are not yet confirmed. The delay in the EU launch is due to regulatory uncertainties, likely related to the EU's Digital Markets Act, which affects companies like Meta, Microsoft Corp (NASDAQ:MSFT), and Apple Inc (NASDAQ:AAPL). META shares dropped by 2.09% to $325.81.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 7:38 pm

ACLX

JNJ

LEGN

Arcellx Inc (NASDAQ:ACLX) reported positive interim Phase 1 results for anito-cel, a treatment for relapsed/refractory multiple myeloma, with a 100% overall response rate and high rates of complete responses. William Blair and Needham analysts have expressed that the results exceed expectations, with Needham raising the price target for ACLX to $65 from $60 and maintaining a Buy rating. Comparisons were made to Johnson & Johnson (NYSE:JNJ)/Legend Biotech (NASDAQ:LEGN) Carvykti's performance in a similar study. Despite the positive data, ACLX shares dropped 8.73% to $51.31.

Portfolio Pulse from Vandana Singh

December 11, 2023 | 7:34 pm

EXPE

Oppenheimer analyst Jed Kelly maintains an Outperform rating on Expedia Group Inc (EXPE) and raises the price target from $135 to $175. Kelly predicts a 10% and 8% year-over-year increase in lodging bookings for FY24 and FY25, respectively. He highlights potential growth from tech migration, re-entering European markets, and advertising leverage. The analyst expects tech efficiencies, AI integration in customer service, and a significant stock repurchase program. He forecasts a 13% EBITDA CAGR from FY23E-FY25E, with 9% revenue growth and expanding gross margins. EXPE shares rose 2.69% to $149.41.

Portfolio Pulse from Shivani Kumaresan

December 11, 2023 | 7:31 pm

FANG

Over the past 10 years, Diamondback Energy (NASDAQ:FANG) has delivered an average annual return of 12.45%, outperforming the market by 2.49% annually. A $1000 investment in FANG a decade ago would now be worth $3,300. Diamondback Energy currently has a market cap of $26.55 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 7:30 pm

ICE

Intercontinental Exchange (NYSE:ICE) has delivered an average annual return of 14.13% over the past 15 years, outperforming the market by 2.77% annually. A $1000 investment in ICE 15 years ago would be worth $8,180.86 today. The company's current market capitalization stands at $66.64 billion.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 7:30 pm