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AAPL

ABNB

SSNLF

Airbnb, Inc. (NASDAQ:ABNB) shares rose after the company announced the acquisition of GamePlanner.AI, an AI firm co-founded by Siri's co-founder Adam Cheyer. The deal, valued at just under $200 million, is Airbnb's first acquisition since 2019 and signals a potential shift in the company's M&A strategy. Cheyer and Siamak Hodjat, both with notable backgrounds at Apple and Samsung, are expected to help Airbnb develop advanced AI interfaces and applications.

Portfolio Pulse from Nabaparna Bhattacharya

November 14, 2023 | 7:40 pm

ABR

ALLY

BAC

WFC

Bank and financial services stocks, including major institutions, are experiencing an uptick following the release of October CPI data indicating inflation was not as high as anticipated. This has contributed to a broader market rally as lower inflation could signal a less aggressive stance on interest rate hikes by the Federal Reserve, which is typically positive for stocks.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:38 pm

AAPL

PYPL

Mizuho analyst Dan Dolev maintains a Buy rating on PayPal (PYPL) with a reduced price target of $72, citing strong growth prospects despite competition from Apple Pay. Dolev notes PayPal's web traffic share from Temu has decreased in October, but remains optimistic about PayPal's potential to integrate PayPal and Venmo into a global digital wallet. He forecasts Q3 revenue and EPS slightly above prior estimates but below consensus, and Q4 revenue above consensus with EPS slightly below prior estimates.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 7:38 pm

CCHWF

Cannabist Holdings, formerly known as Columbia Care, reported Q3 2023 revenues of $129M, a slight decrease from $133M in Q3 2022. The net loss improved to $36M from $38M year-over-year. Adjusted EBITDA and gross profit remained stable and decreased, respectively. The company ended the quarter with increased cash reserves and announced a stock buyback program to repurchase up to 15 million shares, reflecting confidence in the undervaluation of its shares. Operational highlights include increased wholesale revenue, steady retail revenue, and new store openings.

Portfolio Pulse from Patricio Liddle

November 14, 2023 | 7:38 pm

VIPS

Vipshop Holdings Ltd (NYSE:VIPS) reported a 5.3% Y/Y revenue increase in Q3 FY23 to $3.1 billion, with GMV up 13.1% and active customers growing by 3.5%. Gross profit fell 13% Y/Y, but adjusted operating income rose 33% with improved margins. Adjusted EPS increased, and the company repurchased $13.4 million of its ADSs. Vipshop anticipates Q4 revenue growth between 0% to 5% Y/Y. VIPS shares rose 1.36% to $14.50.

Portfolio Pulse from Akanksha Bakshi

November 14, 2023 | 7:29 pm

IMCC

IM Cannabis Corp (NASDAQ:IMCC) reported a 13% decrease in Q3 2023 revenue compared to the same period last year, with figures at CA$12.4 million. The company saw a net loss from continuing operations of CA$2.1 million, which is an improvement from CA$4.5 million in Q3 2022. Adjusted EBITDA loss decreased by 65% to CA$1.3 million, and gross profit increased by 30% to CA$2.6 million. Operating loss also decreased by 58% to CA$2.3 million. CEO Oren Shuster emphasized the company's move towards sustainable profitability and focus on high-end products in the Israeli market. CFO Itay Vago highlighted the impact of currency volatility but noted operational cost reductions. The company launched high THC strains and outsourced delivery services to save costs, amidst geopolitical tensions in Israel. IMCC's stock was up 1.03% at $0.44 per share.

Portfolio Pulse from Patricio Liddle

November 14, 2023 | 7:26 pm

SMTI

Sanara MedTech's stock is trading higher following the announcement of improved year-over-year earnings per share (EPS) for the third quarter.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:24 pm

PDSB

PDS Biotechnology's stock price is on the rise following the release of their Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:23 pm

MNDY

Monday.com (NASDAQ:MNDY) exceeded Q3 earnings expectations with an adjusted EPS of 64 cents, surpassing estimates of 20 cents. Revenue was $189.19 million, above the forecast of $182.36 million. The company provided strong Q4 and FY23 revenue guidance, leading to a 5.8% stock increase. Following the earnings report, Keybanc and UBS raised their price targets for MNDY, with Keybanc maintaining an Overweight rating and UBS a Neutral rating.

Portfolio Pulse from Lisa Levin

November 14, 2023 | 7:21 pm

BMWYY

BMW of North America, a subsidiary of Bayerische Motoren Werke AG (OTC:BMWYY), is expanding its ChargeForward smart charging service across the U.S. This coincides with the launch of the all-electric BMW i5. ChargeForward allows customers to receive incentives for charging their vehicles during times of high renewable energy availability. The program is open to all BMW BEV and PHEV models from 2018 onwards in the lower 48 states. The expansion utilizes carbon data specific to each region's electric grid to optimize charging schedules. BMWYY shares rose 3.89% to $34.20.

Portfolio Pulse from Shivani Kumaresan

November 14, 2023 | 7:21 pm