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META

Meta's real-time messaging app Threads is experiencing slower growth due to competition with Elon Musk's X. The app debuted strongly in July but has since slid down the ranks of popular social media platforms. It is expected to have 23.7 million U.S. users in 2023, far behind Meta's other platforms, Facebook and Instagram, and ByteDance's TikTok, and Musk's X. Meta CEO Mark Zuckerberg has stated that the company has no immediate plans to monetize Threads until it is more established.

Portfolio Pulse from Benzinga Neuro

September 27, 2023 | 9:08 am

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

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TSLA

Despite the recent setbacks in the stock market, A.J. Oden, a global investment strategist at JPMorgan Wealth Management, predicts that the S&P 500 Index will reach new highs by mid-2024. Oden also highlighted positive earnings revisions and suggested that the consumer discretionary sector could perform well as the Federal Reserve shifts its stance. He acknowledged that stocks are not inexpensive, but excluding the 'Magnificent Seven' mega-cap U.S. companies, there has been some narrowing in valuations.

Portfolio Pulse from Shanthi Rexaline

September 27, 2023 | 8:04 am

AMZN

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The CNN Money Fear and Greed index remained in the 'Fear' zone, indicating increased fear among US investors. The Dow Jones Industrial Average recorded its worst session since March, and all sectors on the S&P 500 closed negatively. Amazon shares fell around 4% as the Federal Trade Commission and 17 states filed suit against the company. Investors are awaiting earnings results from Paychex, Worthington Industries, and Micron Technology.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 7:57 am

XOM

Guyana, the world's fastest-growing economy, is projected to double its GDP in the next five years, primarily due to its burgeoning oil industry. The country's oil production is expected to increase from 390,000 barrels per day this year to over a million by 2027, following the inception of new offshore fields in Guyana's Stabroek Block by a consortium led by Exxon Mobil Corporation (NYSE:XOM). However, the bullish forecast is contingent on political stability and high oil prices.

Portfolio Pulse from Benzinga Neuro

September 27, 2023 | 7:41 am

IMAX

Proxy advisory group ISS has advised investors of IMAX China to support the privatization deal with IMAX Corporation. This could potentially lead to a change in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:46 am

PAYX

Paychex, Inc. (NASDAQ:PAYX) is expected to report higher Q1 earnings for fiscal 2024 on Sept. 27, 2023. Analysts predict earnings of $1.12 per share, up from $1.03 per share a year ago, and revenue of $1.29 billion, up from $1.19 billion. The company's shares fell 1.4% to close at $112.72 on Tuesday. Recent price target changes by analysts range from $115 to $134.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 6:17 am

TURB

Turbo Energy has successfully closed its initial public offering (IPO) with 1 million American Depositary Shares (ADSs) priced at $5 per ADS, raising a total of $5 million. Each ADS represents 5 ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:09 am

EWG

Germany's GfK Consumer Climate for October was reported at -26.5, worse than the estimated -26 and the revised prior of -25.6.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:02 am

BONEUSD

DOGEUSD

PEPEUSD

SHIBUSD

The Shiba Inu ecosystem token BONE gained over 10% in the past 24 hours, outperforming other popular cryptocurrencies like Dogecoin and Pepe Coin. This surge is attributed to the nearing completion of the minting of the remaining BONE supply. The Shiba Inu development team has confirmed this progress. The rewards associated with BONE on the ShibaSwap platform will end upon the completion of the BONE minting process and will shift to a new token named “TREAT.”

Portfolio Pulse from Mehab Qureshi

September 27, 2023 | 5:23 am

ARKK

BTCUSD

SEC Chair Gary Gensler maintains that most cryptocurrencies and crypto firms should comply with federal securities laws. He acknowledges widespread noncompliance within the crypto industry. Gensler also mentions the SEC's recent rulemaking efforts, including a release that categorizes crypto platforms as part of the definition of an exchange. The SEC has delayed approval of Ark Invest and 21Shares’ Bitcoin ETF application on the Cboe BZX Exchange until January 10, 2024.

Portfolio Pulse from Mehab Qureshi

September 27, 2023 | 5:02 am