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GME

GameStop's (GME) stock fell over 8% in premarket trading after Q3 earnings revealed revenue below analyst expectations. CEO Ryan Cohen is leading efforts to cut costs amidst a shift to online game downloads. The company's board approved a new investment policy for using cash to buy stocks and make other investments. Technical indicators suggest a bearish trend, with the 100-day SMA crossing below the 200-day SMA and RSI nearing overbought territory.

Portfolio Pulse from Surbhi Jain

December 07, 2023 | 2:17 pm

AAPL

BABA

BIDU

MSFT

NVDA

TCEHY

TSLA

Microsoft Corp's President Brad Smith met with China's Commerce Minister to discuss AI and trade, signaling potential cooperation between the U.S. and China. This follows a meeting between Presidents Biden and Xi Jinping. China is encouraging foreign enterprise services, with Microsoft expected to contribute to AI cooperation. U.S. tech firms face challenges due to technology tensions and export restrictions, notably Nvidia's AI chips. Despite this, recent visits by CEOs of Apple and Tesla to China indicate improving relations. Microsoft shares saw a slight premarket decrease.

Portfolio Pulse from Anusuya Lahiri

December 07, 2023 | 2:17 pm

DPZ

During Domino's Investor Day, an executive reported that for Q4 to date, Domino's U.S. delivery business has shown positive growth. Additionally, delivery transactions have increased, not counting the additional volume generated from the Uber pilot program.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:16 pm

DPZ

During Domino's Investor Day, an executive reported that the company's United States delivery business saw a 3% decline in comparable sales year-to-date (YTD) in 2023. Conversely, the United States carryout business experienced a 7% increase in comparable sales YTD in 2023.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:15 pm

Micron Technology (NYSE:MU) has seen a 4.47% increase in short interest since the last report, with 20.47 million shares sold short, representing 1.87% of available shares. It would take about 1.65 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Micron's short interest is below its peer group average of 3.71%.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:15 pm

JNJ

Johnson & Johnson's (NYSE:JNJ) short interest has decreased by 8.33% since the last report, with 13.19 million shares sold short, representing 0.55% of available shares. The short interest is below the peer group average of 3.35%. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:15 pm

TTD

Trade Desk (NYSE:TTD) has seen a 7.56% increase in short interest since the last report, with 12.35 million shares sold short, representing 3.13% of available shares. The average time to cover these short positions is 1.31 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Trade Desk has less short interest compared to its peer group average of 4.88%.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:15 pm

NKLA

Nikola Corp (NYSE:NKLA) shares are plummeting after the company announced plans to offer $100 million of common stock and $200 million of green convertible senior notes due 2026. The offerings include options for underwriters to purchase additional shares and notes. Proceeds from the stock offering will be used for working capital and general corporate purposes, while proceeds from the notes will fund eligible projects. Despite tripling its unrestricted cash since Q1, Nikola's stock has dropped over 54% in 2023 and was down 20.6% to 78 cents.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:15 pm

AAPL

AMD

BABA

BUZZ

LULU

MCD

META

NVDA

TSLA

Swaggy Stocks has identified the top 10 trending stocks on WallStreetBets as of December 7, 2023. The list includes Alibaba (BABA), Tesla (TSLA), Advanced Micro Devices (AMD), NVIDIA (NVDA), McDonald's (MCD), Lululemon Athletica (LULU), Meta Platforms (META), Apple (AAPL), and the BUZZ ETF.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:14 pm

CHWY

Chewy Inc (NYSE:CHWY) stock declined after reporting mixed Q3 results, missing revenue estimates with $2.74 billion against the expected $2.76 billion, but beating EPS estimates with 15 cents over an expected 6 cent loss. Year-over-year sales increased by 8.2%, and gross margin improved slightly to 28.5%. Active customers decreased by 1.3% while net sales per active customer rose by 13.8%. Full-year 2023 net sales guidance was lowered from $11.15-$11.35 billion to $11.08-$11.1 billion. Chewy appointed David Reeder as the new CFO. Analysts from Barclays, Needham, Raymond James, JMP Securities, and Morgan Stanley lowered their price targets for Chewy.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:14 pm