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ARKF

ARKK

COIN

QQQ

Cathie Wood's ARK Innovation ETF (ARKK) recorded a 35% gain in November, its best month since inception. ARK Fintech Innovation ETF (ARKF) also performed similarly. Despite these gains, ARKK is still 70% below its peak from February 2021. The performance was influenced by the Federal Reserve's steady interest rates and expectations of future rate cuts. Top contributors to ARKK's performance include Coinbase Global Inc (COIN), Roku, Inc. (ROKU), and Block, Inc. (SQ).

Portfolio Pulse from Piero Cingari

November 29, 2023 | 6:32 pm

AEP

American Electric Power Inc. (NASDAQ:AEP) saw a slight drop of 0.21% in the current market session to $79.56, despite a monthly increase of 4.03%. However, the stock has fallen by 17.54% over the past year. Investors are considering AEP's lower P/E ratio compared to the Electric Utilities industry average, which may indicate undervaluation or weaker growth prospects. The P/E ratio is a critical tool for evaluating market performance but should be used alongside other metrics and industry trends for comprehensive analysis.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 6:30 pm

SOFI

SoFi Technologies Inc. is exiting the cryptocurrency market, instructing its crypto customers to either liquidate their accounts or transfer them to Blockchain.com. The move follows increased regulatory scrutiny and comes after SoFi obtained a bank charter in January 2022, which came with a two-year compliance period for its crypto operations. SoFi's crypto-related fees contributed approximately $6 million to its quarterly earnings, and its digital assets were valued at $139.4 million as of September 30. Customers have until December 19 to transfer their holdings to Blockchain.com.

Portfolio Pulse from Murtuza Merchant

November 29, 2023 | 6:29 pm

MVST

MicroVast's stock (MVST) is trading higher following an Overweight rating and $8 price target initiation by Cantor Fitzgerald.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:25 pm

ABBV

AbbVie Inc (NYSE:ABBV) reported positive Phase 2 trial results for Teliso-V in treating a subtype of advanced/metastatic nonsquamous non-small cell lung cancer (NSCLC) patients. The study showed an overall response rate of 35% in c-Met High and 23% in c-Met Intermediate patients, with median overall survival of 14.6 and 14.2 months, respectively. The safety profile was consistent with previous findings, and no new safety concerns were identified. AbbVie's stock rose 0.60% to $138.91.

Portfolio Pulse from Vandana Singh

November 29, 2023 | 6:21 pm

AAPL

FNDA

GOOGL

MSFT

NVDA

SPY

Analysts predict an 11% return for the S&P 500 index in 2024, buoyed by lower interest rates and a soft landing for the economy. The SPDR S&P 500 ETF Trust (SPY) has mirrored the index's performance, with an 18-19% increase in 2023. DataTrek suggests the Russell 3,000 index for those seeking more exposure to lower rates, highlighting the Schwab Fundamental U.S. Small Company Index ETF (FNDA) as an option. Despite large moves in big tech stocks, DataTrek sees potential for further gains in 2024, especially for Nvidia (NVDA), Alphabet (GOOGL), Apple (AAPL), and Microsoft (MSFT), which could significantly contribute to the S&P 500's performance due to their substantial market cap weight.

Portfolio Pulse from Neil Dennis

November 29, 2023 | 6:19 pm

INCY

Truist Securities analyst Srikripa Devarakonda has reiterated a Buy rating on Incyte (NASDAQ:INCY) and maintained a $91 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:13 pm

NTAP

NetApp, Inc. (NASDAQ:NTAP) stock is rising after reporting Q2 earnings of $1.58 per share and sales of $1.56 billion, surpassing estimates. The company also provided Q3 guidance above expectations. Analysts from Barclays, Wells Fargo, Raymond James, Stifel, Wedbush, and Morgan Stanley have updated their price targets for NetApp, all increasing their previous targets.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 6:12 pm

AULT

Ault Alliance's stock is trading higher following the company's announcement of its plans to initiate an exchange offer. The offer aims to acquire shares of its common stock in exchange for up to $15 million in Series D preferred shares.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:05 pm

CVS

ELV

HUM

UNH

Cigna Group (NYSE:CI) and Humana Inc (NYSE:HUM) are in talks about a potential merger, which could be a significant event in the health insurance industry. The deal, which may include both stock and cash, is expected to be completed by year-end. This merger would create a new competitor to UnitedHealth Group Inc (NYSE:UNH) and CVS Health Inc (NYSE:CVS), combining Cigna's pharmacy-benefit unit and commercial insurance with Humana's Medicare business. Previous merger attempts by Cigna with other companies faced antitrust issues. Humana's CEO transition plan is underway, with Jim Rechtin set to become President and COO, and eventually CEO. Cigna's stock fell 5.6%, while Humana's dropped 1.17%.

Portfolio Pulse from Vandana Singh

November 29, 2023 | 6:02 pm