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ODFL

Over the past 20 years, Old Dominion Freight Line (NASDAQ:ODFL) has produced an average annual return of 25.61%, outperforming the market by 18.1% annually. A $1000 investment in ODFL 20 years ago would be worth $98,703.41 today. The company's current market capitalization is $44.17 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 9:00 pm

AIQ

BABA

BTCUSD

NIO

PDD

QQQ

SPY

TAN

President Joe Biden and Chinese leader Xi Jinping met in California to discuss cooperation on climate change and AI, marking a historic summit. They emphasized the importance of the U.S.-China relationship and the need to work together on global challenges. Markets reacted modestly to the news, with slight gains in the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ). The Global X Artificial Intelligence & Technology ETF (AIQ) and the Invesco Solar ETF (TAN) saw more significant increases, while Chinese stocks like Alibaba (BABA), PDD Holdings (PDD), and NIO Inc. (NIO) rallied. Bitcoin (BTCUSD) also experienced a surge, possibly influenced by Commerzbank AG's new cryptocurrency custody license in Germany.

Portfolio Pulse from Piero Cingari

November 15, 2023 | 8:50 pm

TRU

TransUnion (NYSE:TRU) stock is rising after the company announced a transformation program aimed at reducing costs, accelerating innovation, and driving growth. The program includes transitioning more roles to its Global Capability Centers and utilizing Neustar's technology for a new data management platform. The company expects $120 to $140 million in annual operating expense savings and a $70 to $80 million capital expenditure reduction by 2026.

Portfolio Pulse from Ryan Gustafson

November 15, 2023 | 8:44 pm

COIN

MARA

MSTR

Shares of Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and MicroStrategy Inc (MSTR) surged due to a rise in Bitcoin prices and optimism about a potential spot Bitcoin ETF. Bitcoin's price increased by 6% over the last 24 hours and 32% over the last month. The SEC delayed decisions on spot ETF applications, but firms like JPMorgan anticipate approval in the coming months. Coinbase's shares rose 7.93%, Marathon's by 12.7%, and MicroStrategy's by 4.82%.

Portfolio Pulse from Adam Eckert

November 15, 2023 | 8:42 pm

BTCUSD

DEFI

ETHUSD

The SEC has postponed decisions on two cryptocurrency-related ETF applications: Hashdex's proposal to convert its Bitcoin futures ETF into a spot Bitcoin ETF and Grayscale's bid to launch an Ether futures ETF. The initial decision deadline of Nov. 17 has been extended, with no new date provided for Hashdex and Jan. 1, 2024, set for Grayscale. Despite historical rejections of similar products and concerns over market manipulation, the price of Bitcoin has risen by over 5% following the news.

Portfolio Pulse from Murtuza Merchant

November 15, 2023 | 8:31 pm

EQIX

Equinix (NASDAQ:EQIX) has delivered an average annual return of 18.89% over the past 20 years, outperforming the market by 11.37% annually. A $100 investment in EQIX 20 years ago would be worth $3,487.90 today. The company's current market capitalization stands at $73.19 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:30 pm

CRH

Over the past 5 years, CRH (NYSE:CRH) has produced an average annual return of 13.92%, outperforming the market by 2.66% annually. A $100 investment in CRH 5 years ago would be worth $218.07 today. CRH's market capitalization currently stands at $41.66 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:30 pm

HNRA

HNR Acquisition Corp (NYSE:HNRA) has completed its acquisition of Pogo Resources, LLC, gaining control of the Grayburg-Jackson oil field in the Permian Basin. The field has significant production potential, with plans to increase output from 1,400 to 4,000 barrels per day in three years. Pogo's assets include 13,700 acres, 343 producing wells, and 207 injection wells. Pogo generated $35 million in revenue in 2022. HNRA's management team, with extensive industry experience, aims to grow the company and expand revenues and profits through strategic acquisitions and a hedging program to protect profits.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 8:20 pm

PXD

XOM

Pioneer Natural Resources Co (PXD) was downgraded by Mizuho Securities analyst Nitin Kumar from Buy to Neutral, maintaining a price target of $301. The downgrade reflects the pending acquisition by Exxon Mobil Corp (XOM). PXD's Q3 FY23 adjusted EPS was $5.83, surpassing consensus, but revenue fell short at $3.46 billion. The company raised its FY23 production guidance. Concerns include potential strategy missteps and underperformance on recoveries per lateral foot on new laterals. Q4 FY23 EBITDAX/CFPS estimates are above consensus. PXD shares dropped by 0.70% to $235.24.

Portfolio Pulse from Lekha Gupta

November 15, 2023 | 8:17 pm

FMX

Fomento Economico (NYSE:FMX) has seen a 7.69% decrease in short interest since its last report, with 1.04 million shares sold short, representing 0.48% of its float. The average time to cover these short positions is 1.5 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. FMX has less short interest compared to its peer group average of 7.03%.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:15 pm