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ANF

Abercrombie & Fitch Co (NYSE:ANF) reported higher than expected adjusted EPS of $1.83 for Q3 FY23, beating the consensus estimate of $1.18. However, sales of $1.06 billion fell short of the $1.34 billion estimate. Comparable sales increased by 16%, and the company updated its FY23 net sales growth forecast to 12%-14%, up from 10%. Despite the strong earnings, ANF shares dropped 2.2% to $72.37. Telsey Advisory Group and Morgan Stanley raised their price targets for ANF following the earnings report.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 4:33 pm

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HPQ

HP Inc (NYSE:HPQ) reported better-than-expected results for its fiscal fourth quarter, driven by gains in Print supplies and PC pricing. Despite a below-consensus guide for F1Q, trends in the PC market are considered stable. Morgan Stanley's analyst Erik Woodring maintains an Equal-Weight rating and a price target of $31 on HPQ. Cisco Systems Inc's (NASDAQ:CSCO) recent earnings had made investors wary, but HP's results may reassure stability in PC market demand. HPQ shares rose 4.09% to $29.00 following the earnings release.

Portfolio Pulse from Priya Nigam

November 22, 2023 | 4:33 pm

V

Benzinga's options scanner revealed significant bearish positioning on Visa (NYSE:V) by high-rolling investors, with 66% bearish sentiment among the options trades detected. A total of 12 options trades were spotted, with a notable put for $32,580 and 11 calls totaling $650,859. The targeted price range for Visa is between $240.0 to $250.0. Visa's current stock price is $253.0, with a potential overbought indication from the current RSI values. The next earnings report is due in 64 days. Analyst ratings for Visa are mixed, with a consensus target price of $269.5, ranging from $243 to $287.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:31 pm

IQ

Benchmark analyst Fawne Jiang has reiterated a Buy rating on iQIYI (NASDAQ:IQ) and maintained a $9 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 4:30 pm

WCN

Over the past 15 years, Waste Connections (NYSE:WCN) has produced an average annual return of 17.03%, outperforming the market by 5.63% on an annualized basis. A $100 investment in WCN 15 years ago would be worth $1,018.06 today. Waste Connections currently has a market capitalization of $34.22 billion.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:30 pm

TJX

Over the past 15 years, TJX Companies (NYSE:TJX) has produced an average annual return of 20.2%, outperforming the market. A $1000 investment in TJX stock 15 years ago would be worth $15,876.65 today. The company currently has a market capitalization of $103.08 billion.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 4:30 pm

INTC

Intel Corp (NASDAQ:INTC) is at risk of losing billions in subsidies for its German chip plant due to a recent court ruling. The German government had initially agreed to provide close to 10 billion euros in subsidies for Intel's chip-making facilities in Saxony-Anhalt. The state's economy minister warned of economic and reputational damage if Germany cannot support projects like Intel's. Intel had announced an investment of over 30 billion euros in Germany to expand its European manufacturing capacity, which is expected to create thousands of jobs. However, Intel had paused construction in December, seeking more public subsidies. As of September 30, Intel held $25.03 billion in cash and equivalents. INTC shares were up 1.07% at $44.10 in the last check.

Portfolio Pulse from Anusuya Lahiri

November 22, 2023 | 4:28 pm

META

Tigress Financial analyst Ivan Feinseth has reaffirmed a Strong Buy rating on Meta Platforms (NASDAQ:META) and increased the price target from $380 to $435.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 4:26 pm

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LAAC

LAC

Lithium Americas (Argentina) Corp (NYSE:LAAC) is gaining attention as a strategic investment in the lithium sector following its split from Lithium Americas Corp. (NYSE:LAC). LAAC's Caucharí-Olaroz project is near completion, with 95% of capital deployed, and is expected to start generating revenue by mid-2023. In contrast, LAC faces high-interest rates and won't start production at Thacker Pass until 2026. LAAC's first quarterly report post-split showed a net income of $6.6 million, indicating financial resilience despite a recent drop in lithium carbonate prices. The company's partnership with China's Ganfeng Lithium Group (OTCPK:GNENF) adds geopolitical complexity.

Portfolio Pulse from Surbhi Jain

November 22, 2023 | 4:21 pm

SPCE

Virgin Galactic Holdings Inc (NYSE:SPCE) shares fell in premarket trading as Morgan Stanley analyst Kristine Liwag downgraded the stock from Equal-Weight to Underweight and cut the price target from $4.00 to $1.75. The downgrade follows the company's decision to pause revenue-generating space flights to conserve cash and focus on developing its Delta-class fleet. Liwag notes that Virgin Galactic has successfully completed five missions since late June 2023 but anticipates a 'catalyst-light period' with limited flights planned for the first half of 2024 and a halt in revenue flights until around 2026.

Portfolio Pulse from Priya Nigam

November 22, 2023 | 4:19 pm