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AVXL

Anavex Life Sciences (NASDAQ:AVXL) has delivered an average annual return of 29.4% over the past 5 years, outperforming the market by 16.49% on an annualized basis. A $1000 investment in AVXL 5 years ago would be worth $3,648.35 today. The company's current market capitalization stands at $545.05 million.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 2:31 pm

NIO

NIO Inc (NYSE:NIO) shares are trading higher due to reports of China considering a 2 trillion yuan stock market rescue package. The measures aim to stabilize the market, with funds mainly from offshore accounts of state-owned enterprises and local funds for onshore shares. This follows recent lows in China's CSI 300 Index and NIO's 52-week lows last week. NIO faces competition, with Tesla cutting prices in China, but shares were up 6.69% at $6.38 at the time of publication.

Portfolio Pulse from Adam Eckert

January 23, 2024 | 2:30 pm

BABA

BIDU

EWH

LI

NIO

PDD

China is reportedly preparing a $278 billion stabilization fund to support its stock market, drawing from state-owned enterprises' offshore accounts and local funds. The fund will purchase shares onshore through the Hong Kong exchange link. This move comes as the CSI 300 Index hit a five-year low and foreign investors have been exiting the Chinese equity market. The Hang Seng index, tracked by the iShares MSCI Hong Kong Index Fund (EWH), surged by 2.6%, while onshore Chinese stocks saw a modest gain. Premarket trading in the US showed increases for Chinese stocks listed on US exchanges, including Alibaba (BABA), PDD Holdings (PDD), Baidu (BIDU), NIO (NIO), and Li Auto (LI).

Portfolio Pulse from Piero Cingari

January 23, 2024 | 2:29 pm

TSCO

Stephens & Co. analyst Daniel Imbro downgraded Tractor Supply (NASDAQ:TSCO) from Overweight to Equal-Weight and set a price target of $240.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:28 pm

AAL

American Airlines Group Inc (AAL) stock rose 3.5% to $14.09, likely in response to United Airlines Holdings Inc's positive Q4 financial results, which exceeded analyst expectations. United Airlines reported earnings of $2 per share against a consensus estimate of $1.70, and sales of $13.60 billion, slightly above the $13.54 billion estimate. This positive performance by a peer in the airline industry appears to have had a sympathetic effect on AAL's stock.

Portfolio Pulse from Henry Khederian

January 23, 2024 | 2:28 pm

CMCSA

NFLX

TKO

Netflix Inc. has secured a $5 billion, 10-year exclusive rights deal with WWE, starting January 2025, to stream 'Raw' and other WWE content globally. This marks a strategic shift for Netflix into live programming. TKO Group Holdings, WWE's parent company, saw a 22% surge in premarket trading, while Netflix shares were up 2%. The deal is expected to expand WWE's reach and provide Netflix with a dedicated fan base for live viewing.

Portfolio Pulse from Piero Cingari

January 23, 2024 | 2:26 pm

VZ

Verizon Communications Inc (NYSE:VZ) reported Q4 FY23 results with a slight sales decline but beat consensus estimates on both revenue and adjusted EPS. Wireless service revenue grew, driven by TracFone ownership, a premium Unlimited strategy, and pricing actions. The company saw significant postpaid phone and broadband net additions, with the consumer segment showing improved EBITDA margin. Verizon's FY24 outlook projects wireless service revenue growth and an adjusted EPS in line with consensus estimates. VZ shares rose 3.46% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 2:26 pm

IGC

IGC Pharma announced preclinical trial data indicating that its drug candidate TGR-63 has shown efficacy in reducing plaque associated with Alzheimer's disease. This breakthrough could have significant implications for the treatment of Alzheimer's, a condition currently with limited effective interventions.

Portfolio Pulse from Charles Gross

January 23, 2024 | 2:21 pm

OMIC

Goldman Sachs analyst Matthew Sykes has maintained a Neutral rating on Singular Genomics Systems (NASDAQ:OMIC) but has reduced the price target from $0.95 to $0.85.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:20 pm

CAKE

JP Morgan analyst John Ivankoe downgraded Cheesecake Factory (NASDAQ:CAKE) from Neutral to Underweight and set a price target of $33.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:19 pm