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MBI

U.S. stocks saw gains with the Dow Jones rising over 100 points. Energy shares led the gains, while real estate lagged. Intensity Therapeutics' shares surged 83% after presenting positive data, MBIA spiked 77% following an extraordinary dividend announcement, and Torrid Holdings climbed 21% on strong financial results. Conversely, Cyngn, HashiCorp, and Comtech Telecommunications saw significant drops after negative announcements. Oil prices increased, gold declined, and the U.S. non-farm payrolls and unemployment rate showed positive signs.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 7:59 pm

BLUE

Bluebird Bio's stock is trading lower following the FDA's decision to add a black box warning to its gene therapy product, Lyfgenia, due to the risk of hematologic malignancy.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:55 pm

ALK

Over the past 20 years, Alaska Air Group (NYSE:ALK) has produced an average annual return of 8.76%, outperforming the market by 1.25% on an annualized basis. A $100 investment in ALK 20 years ago would be worth $551.79 today. The company currently has a market capitalization of $4.59 billion.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 7:31 pm

QCOM

Over the past 5 years, Qualcomm (NASDAQ:QCOM) has delivered an average annual return of 18.33%, outperforming the market by 6.6% on an annualized basis. A $100 investment in QCOM 5 years ago would be worth $232.39 today. Qualcomm's market capitalization currently stands at $148.05 billion.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 7:31 pm

SBUX

Starbucks Corporation (NASDAQ:SBUX) has initiated contact with the union representing its workers to resume bargaining, aiming to improve relations. The union, representing over 9,000 workers at 360 U.S. stores, has been pushing for better pay and working conditions. Starbucks' Chief Partner Officer Sara Kelly has proposed to restart negotiations in January 2024. The company owns nearly 10,000 U.S. locations, with less than 3% unionized. SBUX shares saw a slight increase of 0.23% to $96.66.

Portfolio Pulse from Nabaparna Bhattacharya

December 08, 2023 | 7:19 pm

YPF

Argentine oil company YPF has increased fuel prices by an average of 25%, according to a company source cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:17 pm

GLD

GOVT

STIP

TBT

TIP

A survey by FocalData and Financial Times reveals a discrepancy between Americans' perceptions of the economy and actual data. Despite improvements in inflation, wages, and net worth since the pandemic, a majority of respondents believe the economy is worse off. The survey's findings suggest that public sentiment may be influenced by media focus, political narratives, and emotional impacts of past economic conditions. The article also suggests five ETFs for investors considering the inflation outlook: TIP, GLD, GOVT, TBT, and STIP.

Portfolio Pulse from Natan Ponieman

December 08, 2023 | 7:15 pm

Dollar General Corporation (NYSE:DG) reported better-than-expected earnings for Q3 2023 but maintained a cautious outlook for 2023. Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating and raised the price target from $124 to $135. Despite sequential sales improvement and positive traffic, concerns remain due to lower markups, increased markdowns, and pressures from consumer spending and ongoing investments. The return of CEO Todd Vasos is seen as a positive move. The company plans to slow new store openings in 2024 due to higher costs. DG shares dropped 4.1% to $126.88.

Portfolio Pulse from Nabaparna Bhattacharya

December 08, 2023 | 7:06 pm

SPXL

SPXS

SPY

The SPDR S&P 500 ETF (SPY) saw a slight increase despite higher-than-expected U.S. non-farm payrolls data, which could affect Federal Reserve rate cut decisions. The SPY is maintaining its uptrend and is above the eight-day EMA. Traders can use Direxion Daily S&P 500 Bull 3X Shares (SPXL) and Direxion Daily S&P 500 Bear 3X Shares (SPXS) to play the market bullishly or bearishly. SPXL is showing a bull flag pattern with a potential move towards $126, while maintaining its uptrend. Leveraged ETFs like SPXL and SPXS are intended for short-term trading, not long-term investments.

Portfolio Pulse from Melanie Schaffer

December 08, 2023 | 7:04 pm

BLUE

Trading in shares of Bluebird Bio, Inc. (BLUE) has resumed. The news does not provide additional context regarding the reason for the trading halt or any events that might have led to the resumption of trading.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:02 pm