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AAPL

ANF

CPB

GTLB

INFN

THO

The CNN Money Fear and Greed index indicated a shift to 'Greed' with a reading of 74.3, down from 78.2. The Dow Jones fell over 400 points, and the S&P 500 and Nasdaq also closed lower. Apple Inc's shares dropped 2.8% due to a 24% decline in iPhone sales in China. GitLab Inc. saw a 21% decrease in its shares after providing lower-than-expected earnings guidance. U.S. factory orders and ISM services PMI both declined. Investors are looking forward to earnings results from Abercrombie & Fitch, Campbell Soup, THOR Industries, and Infinera Corporation.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 7:29 am

ANF

BOX

CPB

DXCM

THO

U.S. stock futures are trading higher with focus on THOR Industries, Box, Campbell Soup, DexCom, and Abercrombie & Fitch due to earnings reports and strategic moves. THOR Industries is expected to report earnings, Box announced upbeat earnings and a stock repurchase program expansion, Campbell Soup is anticipated to release its earnings, DexCom reported FDA clearance of Stelo, and Abercrombie & Fitch is expected to report its earnings.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 7:28 am

BTCUSD

Anthony Scaramucci, founder of SkyBridge Capital, discussed Bitcoin's future, advising investors to remain patient amidst its current volatility. He highlighted Bitcoin's global adoption rate at 5% and compared its potential growth trajectory to that of Tesla and Amazon. Despite recent price fluctuations, including a new all-time high of $69,170.63 followed by a 10% drop, Scaramucci remains optimistic about Bitcoin's long-term rewards for patient investors.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 7:19 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped nearly 11% in two days amid concerns over missing Q1 delivery targets and a six-month performance slump. Wedbush analyst Daniel Ives attributes 80% of the sell-off to communication issues following CFO Zach's departure in August, and 20% to fundamentals. Despite challenges, including issues in China and slowing EV demand, Ives remains bullish, citing Tesla's potential in sub-$30,000 EVs and full self-driving software. He also discussed the global EV market slowdown and potential impacts of a Trump presidency on the EV industry.

Portfolio Pulse from Shanthi Rexaline

March 06, 2024 | 7:07 am

BYDDF

BYDDY

TSLA

BYD (OTC:BYDDF) (OTC:BYDDY), a rival to Tesla, has reduced the price of its Seagull EV model in China by 5.4%, setting the new price at approximately $9,696. This move is part of BYD's strategy to compete in the fiercely competitive Chinese EV market, where it faces competition from both domestic and international companies like Geely Auto and Tesla. The price reduction follows a 37% YoY drop in BYD's sales in February, despite growth in 2023 and January 2024.

Portfolio Pulse from Anan Ashraf

March 06, 2024 | 7:06 am

TSLA

Tesla Inc. (NASDAQ:TSLA) experienced a nearly 5% drop in stock price on Tuesday, attributed to weak shipments in China and a temporary shutdown of its German factory. This downturn is part of a 27% year-to-date decline. Jim Cramer commented on the situation, calling it 'magnificent.' The decline is also influenced by production halts, price hikes in China, diminishing U.S. EV demand, and scrutiny over CEO Elon Musk's $56 billion pay package. Despite these challenges, Tesla's energy storage business is seen as a potential revenue driver, though its valuation is debated.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 7:03 am

RYDE

Ryde Group Ltd, a Singapore-based tech company focused on mobility and quick commerce, has priced its IPO at $4 per share, offering 3 million shares for a total of $12 million in gross proceeds, before expenses.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:52 am

FL

Foot Locker, Inc. (NYSE:FL) is anticipated to report a decrease in Q4 earnings to 32 cents per share from 97 cents per share year-over-year, with revenue expected to fall to $2.28 billion from $2.34 billion. Despite this, the company saw a 1.2% increase in shares to close at $34.31 recently. Analysts from Telsey Advisory Group, Citigroup, Piper Sandler, Morgan Stanley, and Goldman Sachs have provided varied ratings and price target adjustments for Foot Locker, reflecting differing outlooks on the company's financial health.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 6:29 am

NEWT

NewtekOne (NASDAQ:NEWT) reported Q4 earnings of $0.53 per share, missing the consensus estimate of $0.58, and sales of $57.53M, below the $63.35M estimate. Despite the miss, earnings and sales significantly increased from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:11 am

META

Meta Platforms Inc. (NASDAQ:META) employees are experiencing anxiety over potential layoffs as the company's 'Year of Efficiency' initiative becomes a permanent strategy. Despite recent financial successes, including a record-high stock price and increased bonuses, the fear of job cuts persists. Meta has already reduced its workforce by 22% in the past 18 months, and ongoing reorganizations could lead to further layoffs. Employees are given three months to find new positions within the company or face termination, with those receiving lower performance ratings offered severance to leave without a formal Performance Improvement Plan.

Portfolio Pulse from Ananya Gairola

March 06, 2024 | 5:55 am