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PSX

Phillips 66 (NYSE:PSX) is engaging in a 'constructive dialogue' with Elliott Investment Management after the latter outlined a turnaround strategy with 75% upside potential for PSX. Phillips 66 acknowledges the value of strategic priorities since its Investor Day in November 2022 and has raised its shareholder distribution target to $13-15 billion. The company plans to monetize over $3 billion in non-core assets and achieve $1.4 billion in savings by 2024, including refining cost reductions. Elliott criticized PSX's operational expenditure discipline and suggested appointing two new board directors with refining experience. PSX shares rose 0.54% to $122.88 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 30, 2023 | 10:54 am

DLTH

Duluth Holdings has updated its FY23 guidance, expecting net sales between $640M-$655M, compared to the previous range of $645M-$660M and against a $644.19M estimate. The company also revised its EPS forecast to a range of $(0.25)-$(0.15), which is a wider loss than the $(0.11) estimate and the prior view of $(0.15)-$(0.08).

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:54 am

SNOW

Needham analyst Mike Cikos has reaffirmed a Buy rating on Snowflake (NYSE:SNOW) and increased the price target from $216 to $225.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:54 am

VFS

Shares of VinFast Auto have experienced a significant increase in premarket trading. The specific reasons behind the spike are not detailed in the article provided.

Portfolio Pulse from Charles Gross

November 30, 2023 | 10:45 am

MTN

Vail Resorts Inc (NYSE:MTN) is set to acquire an 84% stake in Crans-Montana Mountain Resort in Switzerland from CPI Property Group. The deal includes an 80% stake in SportLife AG and 100% of 11 restaurants. The resort boasts 1,400 meters of vertical terrain and 140 kilometers of trails. The transaction, valued at CHF 118.5 million, is expected to close during the 2023-24 ski season, with the resort anticipated to generate CHF 5 million EBITDA in fiscal 2025. Vail Resorts had $562.9 million in cash as of July 1, 2023. MTN shares closed at $215.22, down 0.49% on Wednesday.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 10:40 am

FL

Telsey Advisory Group analyst Joseph Feldman has maintained an Outperform rating on Foot Locker (NYSE:FL) and increased the price target from $22 to $31.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:37 am

CRM

Needham analyst Scott Berg has reaffirmed a Buy rating on Salesforce (NYSE:CRM) and increased the price target from $250 to $275.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:34 am

COST

Telsey Advisory Group analyst Joseph Feldman has reaffirmed an Outperform rating on Costco Wholesale (NASDAQ:COST) and increased the price target from $600 to $625.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:32 am

USO

Reuters has reported that the OPEC meeting has commenced. Details of the meeting's discussions or decisions have not been disclosed yet. The meeting's outcomes could influence global oil supply and prices, potentially impacting related stocks and ETFs like USO.

Portfolio Pulse from Charles Gross

November 30, 2023 | 10:28 am

BTCUSD

An unidentified Bitcoin wallet has acquired 11,268 BTC, worth about $424 million since November 10, ranking it as the 74th largest BTC holder. The purchases were made at prices between $36,000 to $38,000, leading to an unrealized profit of approximately $9.8 million with BTC's current price just below $38,000. Speculation suggests the wallet could be linked to a U.S. asset management firm anticipating a spot Bitcoin ETF approval, but there is no evidence to confirm this. A spot ETF approval could potentially create trillions in value, with demand estimated between $20 billion to $30 billion.

Portfolio Pulse from Benzinga Neuro

November 30, 2023 | 10:19 am