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AXP

American Express CEO Stephen Squeri reported that the company's billings in October were weaker than in Q3, but November billings aligned with Q3 levels. He also noted that there is no slowdown in demand for premium, fee-paying cards.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:42 pm

TOL

Toll Brothers, Inc. (NYSE:TOL) is expected to report lower Q4 earnings with an EPS of $3.71, down from $4.70 the previous year, and revenue of $2.78 billion, down from $3.58 billion. Despite better-than-expected Q3 results and a raised forecast, TOL shares dropped 0.7%. Analysts have mixed ratings, with price targets ranging from $74 to $107.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 4:42 pm

JOAN

JOANN Inc. reported disappointing Q3 revenue results and provided weak net sales guidance for FY24, leading to a decline in its stock price. Additionally, Wells Fargo cut its price target for JOANN from $1.5 to $0.75.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:41 pm

NKE

Goldman Sachs analyst Brooke Roach initiated coverage of Nike Inc (NYSE:NKE) with a Buy rating and a $139 price target. Despite heavy discounts during Black Friday and Cyber Monday, and challenges such as market share gains by competitors, wholesale channel pressures, and fading tailwinds, Roach believes these factors are already priced into Nike's stock. She sees opportunities for margin expansion and stronger revenue growth ahead, citing cleaner inventories, moderating product cost inflation, and improving inventory health.

Portfolio Pulse from Priya Nigam

December 05, 2023 | 4:41 pm

TVTX

Travere Therapeutics' stock is up following a positive pre-NDA meeting with the FDA regarding FILSPARI for IgA nephropathy, along with regulatory updates for IgAN and FSGS.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:40 pm

BABA

JD

NTES

ByteDance is phasing out its Nuverse gaming division, laying off employees and ending gaming projects by year-end. This follows scale-backs in other sectors like education and VR. Nuverse struggled to compete with Tencent and NetEase in the gaming market, with its game 'Crystal Core' losing momentum. ByteDance will focus on information and e-commerce services, leveraging TikTok's success. ByteDance's revenue growth outpaces Tencent, and its gaming exit may improve its valuation for a potential IPO.

Portfolio Pulse from The Bamboo Works

December 05, 2023 | 4:39 pm

SIG

Signet Jewelers Ltd (NYSE:SIG) shares rose by approximately 4% after reporting Q3 FY24 results with sales of $1.392 billion, slightly above analyst expectations. Same-store sales decreased by 11.8% Y/Y. The company saw a gross margin increase to 36.0% and adjusted EPS of $0.24, beating the $1.18 consensus. Signet declared a quarterly dividend of $0.23 per share and repurchased 1.8 million shares for $128.5 million. The company lowered its FY24 sales outlook but revised its adjusted EPS forecast slightly upwards. The stock was up 3.73% at $87.95.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 4:38 pm

NOK

Nokia's stock price is trading lower following the announcement that its competitor, Ericsson, has secured a contract with AT&T.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:35 pm

SNAP

Snap Inc. (NYSE:SNAP) stock is experiencing a significant uptrend, having increased over 35% in the last month and setting a new 52-week high of $14.61. The rise follows an upgrade from Hold to Buy by Jefferies analyst James Heaney, who also raised the price target from $12 to $16. However, Snap's general counsel, Michael OSullivan, reported a large insider sell of 35,683 shares. SNAP is currently trading above its 50-day moving average.

Portfolio Pulse from Erica Kollmann

December 05, 2023 | 4:32 pm

ERIC

T

Ericsson's stock price has increased after announcing a new contract with AT&T.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:32 pm