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HAS

Hasbro Inc (NASDAQ:HAS) shares fell after announcing further strategic steps to restructure the company, including a revised organizational structure that will result in the elimination of 900 positions over the next 18 to 24 months. This follows a January 2023 announcement of cutting about 1,000 jobs, which incurred $94 million in expenses. The new job cuts are expected to save approximately $100 million annually, with total expected savings of $350 million to $400 million by the end of 2025. HAS shares dropped 5.3% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 12, 2023 | 11:53 am

NDSN

Nordson Corporation (NASDAQ:NDSN) is expected to report lower Q4 earnings at $2.39 per share compared to $2.44 a year ago, with revenue estimated at $706.76 million versus $683.58 million. The company declared a Q1 cash dividend of 68 cents per share. Shares dropped 0.6% to $237.66. Analysts from Baird, Wells Fargo, Keybanc, and Loop Capital have provided ratings and price targets.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 11:47 am

CJET

DLA

FSR

MNSO

YUMC

The article highlights the top 5 oversold consumer discretionary stocks with an RSI near or below 30, suggesting potential undervaluation. Chijet Motor Company (CJET) reported a significant revenue drop and its stock fell 39% over five days. Yum China Holdings (YUMC) missed revenue consensus, with a 10% stock decline over a month. MINISO Group (MNSO) reported strong revenue growth but experienced a 25% stock decrease over a month. Delta Apparel (DLA) posted downbeat sales and a 21% stock loss over five days. Fisker Inc. (FSR) announced new hires but saw a 63% stock fall over a month.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 11:46 am

F

MACK

TRMB

UNP

Insiders at Merrimack Pharmaceuticals, Ford Motor, Trimble, and Union Pacific have recently made significant stock purchases. Merrimack Pharmaceuticals saw a purchase of 101,050 shares at $12.85 each, while Ford Motor's Chief EV, Digital & Design Officer acquired 182,000 shares at $11.05 each. Trimble's Director bought 10,000 shares at $46.59, and Union Pacific's CEO purchased 4,500 shares at $222.00 each. These transactions may indicate insider confidence despite recent company challenges such as earnings misses and production target cuts.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 11:46 am

DTEGY

ERIC

NOK

T

Nokia Corp (NYSE:NOK) announced a reduction in its 2026 comparable operating margin target from at least 14% to at least 13%, citing current market conditions, particularly in the Mobile Networks sector. Despite this, Nokia is optimistic about achieving the original target in the long term and sees further growth potential beyond 2026. The company also disclosed the acquisition of Fenix Group to enhance its wireless offerings in the defense segment, and a partnership with Deutsche Telekom AG (OTC:DTEGY) (OTC:DTEGF) for deploying a multi-vendor Open RAN network in Germany. Nokia's stock has declined 33.5% year-to-date but traded higher by 2.24% at $3.19 in premarket Tuesday. Last week, Ericsson (NASDAQ:ERIC) secured a deal with AT&T Inc (NYSE:T) for Open RAN deployment.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 11:34 am

CHH

WH

Choice Hotels has initiated an exchange offer to acquire all outstanding shares of Wyndham Hotels & Resorts. The offer includes $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share. Choice currently owns about 1.5 million shares of Wyndham, worth over $110 million. Additionally, Choice is preparing to nominate candidates to Wyndham's board.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:32 am

SEMR

Needham analyst Scott Berg has reaffirmed a Buy rating on SEMrush Holdings (SEMR) and increased the price target from $13 to $15.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:19 am

MS

Central banks globally are expected to lower interest rates in 2024, reversing the trend of recent hikes. This shift, aimed at preventing a severe economic downturn, is supported by positive consumer price data and comments from ECB and Federal Reserve officials. Morgan Stanley's Chief U.S. Economist, Ellen Zentner, views 2024 as a pivotal year for the economy and monetary policy. The Federal Reserve maintained current rates in its final 2023 meeting, but rate cuts are anticipated in early 2024. The Euro Zone may enter a recession, while Japan benefits from its negative interest rate policy.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 11:16 am

MT

JP Morgan analyst Luke Nelson has upgraded ArcelorMittal (NYSE:MT) from Neutral to Overweight, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:04 am

ARKW

META

MSFT

QQQ

TSM

Cathie Wood's Ark Investment Management purchased shares of Meta Platforms, Inc. (META), Microsoft Corp. (MSFT), and Taiwan Semiconductor Manufacturing Company Ltd. (TSM) through its ARK Next Generation Internet ETF (ARKW). The tech sector has seen a significant surge, with the Invesco QQQ Trust (QQQ) up 49% year-to-date. Analyst Daniel Ives is optimistic about tech growth, particularly in cloud and AI. However, risks include valuation concerns and interest rate outlook. ARKW was down 1.54% at Monday's close but has gained 83.63% year-to-date.

Portfolio Pulse from Shanthi Rexaline

December 12, 2023 | 11:00 am