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DHE

ITB

LEN

February saw a rebound in housing starts, with a 10.7% increase to an annualized rate of 1.521 million, surpassing forecasts. Building permits also rose by 1.9%. Despite high interest rates affecting affordability, the housing market shows resilience with stable demand and a shortage of existing homes for sale. The iShares U.S. Home Construction ETF (ITB) has gained 78% since the beginning of 2023 but dipped 1.6% since March. D.R. Horton Inc (DHE) remains flat year-to-date, while Lennar Corporation (LEN) is up 5% despite recent drops.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 12:56 pm

SMCI

Super Micro Computer Inc (NASDAQ:SMCI) announced the pricing of its public offering of 2 million shares at $875 each, aiming for total gross proceeds of $1.75 billion. The funds are intended for operational support, including inventory purchases, manufacturing capacity expansion, and increased R&D investments. The offering is expected to close around March 22. Despite a recent drop, SMCI stock has seen significant growth, up over 220% since the start of the year and over 700% in the past year. Wall Street analysts generally rate SMCI as a Buy.

Portfolio Pulse from Adam Eckert

March 20, 2024 | 12:52 pm

JKS

JinkoSolar Holding Co Ltd (NYSE:JKS) shares dropped in premarket trading after reporting disappointing Q4 FY23 earnings. Despite a 9.4% Y/Y revenue increase to $4.62 billion, exceeding expectations, the company's adjusted EPADS of $1.21 missed the $2.50 consensus. Gross margin and operating profit margin both contracted, with gross profit down 2.8% Y/Y. The company anticipates Q1 module shipments of 18.0 GW-20.0 GW and aims for FY24 shipments of 100.0 GW to 110.0 GW. JinkoSolar expects to enhance efficiency and reduce operating costs through its integrated project in Shanxi, China, despite planning reduced investments in capacity expansion for 2024.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 12:51 pm

KC

Kingsoft Cloud Holdings' shares surged following the announcement of their Q4 results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:51 pm

CIFR

IREN

RIOT

JPMorgan analyst Reginald L. Smith upgraded Riot Platforms Inc (NASDAQ:RIOT) to Overweight, predicting a 35% upside to a $15 price target by Dec. 2024. Smith also sees a 134% growth potential for Iris Energy Ltd. (NASDAQ:IREN), setting a price target of $10.50. Riot's hashrate growth and unique strengths, including industry-leading power contracts and liquidity, are key catalysts. Iris Energy's focus on renewable energy-powered data centers and exposure to AI and HPC opportunities are highlighted. Cipher Mining Inc (NASDAQ:CIFR) was mentioned with a Neutral rating but no price target.

Portfolio Pulse from Surbhi Jain

March 20, 2024 | 12:51 pm

BA

Ryanair CEO Michael O'Leary is set to meet with senior Boeing executives in Dublin to discuss ongoing delays in plane deliveries, highlighting the deepening crisis at the U.S. planemaker.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:50 pm

MODG

Topgolf Callaway Brands' stock price has increased after a report by Chosun Daily indicated that the company is considering a sale.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:48 pm

ASTR

BA

NEOV

PEGY

SKIL

The article highlights the top 5 oversold industrials stocks based on their RSI values, indicating potential buying opportunities. Skillsoft, Pineapple Energy, Astra Space, Boeing, and NeoVolta are featured for their significant price drops and current undervaluation. Key developments such as financial results, private takeovers, failed audits, and revenue achievements are mentioned alongside their recent stock performance.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 12:47 pm

TME

Tencent Music Entertainment Group (NYSE:TME) reported Q4 revenue of $971 million, surpassing expectations despite a 7.2% year-over-year decline. The company's adjusted EPADS was $0.14, in line with consensus. MAUs for online music and social entertainment saw declines, while online music paying users increased by 20.6%. Following the earnings announcement, several analysts raised their price targets on TME, leading to a 6.4% increase in its shares to close at $11.04.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 12:44 pm

BNTX

PFE

BioNTech SE (NASDAQ:BNTX) reported a significant drop in Q4 2023 earnings and sales, missing consensus estimates. The decrease was partly due to inventory write-downs by Pfizer Inc (NYSE:PFE), BioNTech's collaboration partner. Despite delivering over 400 million COVID-19 vaccine doses in 2023, BioNTech's net profit and sales fell sharply compared to the previous year. The company provided a cautious revenue outlook for 2024 but remains optimistic about its COVID-19 vaccine franchise and upcoming oncology launches.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 12:43 pm