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PII

Polaris Inc. (NYSE:PII) reported Q4 FY23 sales of $2.289 billion, slightly above estimates but with a 5% year-on-year decline. Adjusted EPS of $1.98 missed estimates of $2.57. The company experienced lower volume, higher promotional spending, and higher finance interest, leading to a 287 basis point decrease in adjusted gross profit margin. Operating expenses increased, and the company anticipates a 5%-7% sales decline and a 10%-15% drop in adjusted EPS for 2024. PII shares fell by 3.14% after the earnings release.

Portfolio Pulse from Nabaparna Bhattacharya

January 30, 2024 | 3:54 pm

NFLX

Netflix Inc (NASDAQ:NFLX) stock was downgraded from Buy to Neutral by Seaport Research Partners analyst David Joyce, who removed the price target. Joyce believes the stock is 'priced for perfection' and reflects the advertising opportunity. He notes Netflix's potential in advertising and gaming, positive FCF, and capital returns but sees the valuation metrics through 2027 as full. Joyce also mentions Netflix's move to acquire sports rights, which could affect margin expectations. NFLX shares declined by 1.9% to $564.43.

Portfolio Pulse from Priya Nigam

January 30, 2024 | 3:49 pm

COIN

Coinbase Inc. (NASDAQ:COIN), a key custodian for Bitcoin ETFs, emphasizes its strong security measures and the benefits of ETFs for investors. The firm's chief security officer, Philip Martin, discussed the reduced custodial risks of ETFs compared to direct cryptocurrency ownership and the thorough vetting process Coinbase undergoes with ETF issuers. Martin also highlighted the potential for ETFs to attract new investors and the importance of robust security practices.

Portfolio Pulse from Murtuza Merchant

January 30, 2024 | 3:48 pm

ITRM

Iterum Therapeutics PLC (NASDAQ:ITRM) shares are trending after announcing positive topline results from its Phase 3 Reassure trial, meeting the primary endpoint of non-inferiority to Augmentin. The company plans to resubmit its NDA for oral sulopenem in Q2 2024 and is exploring strategic options to maximize stakeholder value. The stock is experiencing heavy trading volume, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 3:47 pm

RCUS

Wedbush analyst Robert Driscoll has maintained an Outperform rating on Arcus Biosciences (NYSE:RCUS) but reduced the price target from $36 to $30.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 3:46 pm

AMZN

IRBT

Amazon (NASDAQ:AMZN) has partnered with Mexican fintech firm Kueski to offer bi-weekly installment payments in Mexico, allowing customers to make purchases without a credit card. Kueski will manage financing and credit assessment. Amazon also terminated its merger with iRobot (NASDAQ:IRBT), resulting in a $94 million termination fee paid by Amazon. AMZN shares dropped slightly by 0.20% to $160.93.

Portfolio Pulse from Nabaparna Bhattacharya

January 30, 2024 | 3:36 pm

DTC

Solo Brands (NYSE:DTC) has seen a 9.12% increase in short interest since its last report, with 4.27 million shares sold short, representing 47.4% of its float. It would take about 1.9 days to cover all short positions. High short interest can indicate bearish market sentiment but doesn't necessarily predict a price drop. Solo Brands has a higher short interest than its peer group average of 7.22%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:30 pm

SNDL

SNDL Inc. (NYSE:SNDL) has seen a decrease in short interest, with the short percent of float dropping 5.79% since the last report. The company has 11.07 million shares sold short, which is 4.23% of available shares for trading. The current short interest represents a 3.24-day average volume to cover. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average short interest of 10.56%. However, this does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:30 pm

HON

Honeywell Intl (NYSE:HON) has seen a decrease in short interest, with the short percent of float dropping 3.23% since the last report. The company has 5.92 million shares sold short, representing 0.9% of available shares. The average time to cover these short positions is 2.06 days. A decrease in short interest may indicate a more bullish sentiment among investors. Honeywell's short interest is below its peer group average of 1.21%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:30 pm

INTC

QCOM

TXN

Qualcomm Inc (NASDAQ:QCOM) is set to report Q1 earnings on Jan. 31 with expectations of $2.37 EPS and $9.51 billion in revenues. Analysts are focusing on Qualcomm's growth in the automotive sector, AI capabilities, and stock valuation. The company's Snapdragon 8 Gen 3 chips and Oryon series for laptops show its competitive edge. Qualcomm's automotive business grew 23% sequentially in fiscal Q4, and its AI technology is expected to drive demand for semiconductor chips. Despite a forward P/E of 14.21, lower than peers Intel (NASDAQ:INTC) and Texas Instruments (NASDAQ:TXN), Qualcomm is seen as undervalued. Analysts maintain a Buy rating with a price target of $135.97, with recent targets up to $175. Qualcomm's stock closed at $150.44 on Jan. 29.

Portfolio Pulse from Surbhi Jain

January 30, 2024 | 3:20 pm