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BABA

FXI

KWEB

PDD

Alibaba Group Holding Limited (NYSE:BABA) plans to spin off Cainiao Smart Logistics Network Limited with a separate listing on the Hong Kong Stock Exchange, while retaining majority shareholding. This comes amid concerns over China's property sector, affecting Alibaba's stock and broader indexes like iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB). The global e-commerce sector is shifting towards discount retailing due to China's economic issues and inflation in the U.S. and Europe. Despite growth reported by Alibaba and JD.com Inc (NASDAQ:JD), PDD Holdings Inc (NASDAQ:PDD) reported a 66% YoY revenue increase, outperforming both.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 11:28 am

BABA

QQQ

SPY

TSLA

Stocks are set for a lower opening on Tuesday due to concerns about potential future rate hikes hinted by Minneapolis Federal Reserve President Neel Kashkari and weakness in global markets. Despite this, fund manager Louis Navellier expects a bullish end to the year, with the earnings environment improving and inflation excluding energy continuing to ebb. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) fell. Tesla, Inc. (NASDAQ:TSLA) also fell in premarket trading due to weak China weekly insurance registration data. Alibaba Group Holding Ltd. (NYSE:BABA) announced plans to spin off its Cainiao logistics unit in a Hong Kong IPO.

Portfolio Pulse from Shanthi Rexaline

September 26, 2023 | 11:23 am

SBRA

Hersha Hospitality Trust (HT) and Sabra Health Care REIT (SBRA) are identified as overbought stocks in the real estate sector, indicating potential short-term investment opportunities. HT recently announced a merger with KSL Capital Partners, while SBRA reported weaker-than-expected Q2 sales.

Portfolio Pulse from Lisa Levin

September 26, 2023 | 11:12 am

ASHR

GLD

SPY

On Monday, US stock markets gained, breaking a four-day losing streak, with the S&P 500, Dow Jones, and Nasdaq all seeing increases. However, Asian markets, including Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Index, all declined. European markets also opened lower. Commodities such as Crude Oil, Natural Gas, Gold, Silver, and Copper all saw decreases. US futures were down, and the U.S. Dollar Index was slightly down.

Portfolio Pulse from Akanksha Bakshi

September 26, 2023 | 11:07 am

OMGA

Omega Therapeutics, Inc. (NASDAQ:OMGA) announced preliminary data from its ongoing Phase 1/2 MYCHELANGELO I study evaluating OTX-2002 in patients with hepatocellular carcinoma and other solid tumors. The data shows encouraging safety, tolerability, and pharmacokinetic results. OTX-2002, the company's lead development candidate, is designed to downregulate MYC, a master oncogene implicated in more than 50% of all cancers and approximately 70% of HCC cases.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:03 am

IONS

Ionis Pharmaceuticals announced positive topline results for the Phase 3 Balance study of olezarsen in people with familial chylomicronemia syndrome. The trial met its primary efficacy endpoint with a significant reduction in triglyceride levels and a 100% reduction in acute pancreatitis events compared to placebo.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:02 am

ADC

DLTR

SWX

Insiders at Southwest Gas Holdings, Inc. (SWX), Dollar Tree, Inc. (DLTR), and Agree Realty Corporation (ADC) have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects. Southwest Gas posted better-than-expected Q2 earnings, Dollar Tree reported better-than-expected earnings and sales for Q2, and Agree Realty promoted Nicole Witteveen to COO.

Portfolio Pulse from Lisa Levin

September 26, 2023 | 10:58 am

CSL

Jefferies analyst Saree Boroditsky has downgraded Carlisle Companies (NYSE:CSL) from Buy to Hold and lowered the price target from $325 to $290.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 10:37 am

FSR

Fisker Inc. (NYSE:FSR) announced that it has built 5,000 Fisker Ocean SUVs and plans to increase deliveries to 300 vehicles per day later this year. The company has delivered over 900 vehicles in its European and US launch markets, with several hundred more expected this week. The Fisker Ocean Extreme, priced at $68,999, has the longest range of any new electric SUV in its class.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 10:34 am

THO

Thor Industries Inc (NYSE:THO) reported a Q4 FY23 sales decline of 28.4% YoY to $2.74 billion, beating the analyst consensus of $2.42 billion. The decrease in sales is due to lower dealer and consumer demand. EPS of $1.68 beat the analyst consensus of $0.96. The company sees FY24 sales of $10.5 billion - $11 billion and EPS of $6.25 - $7.25. THO shares closed higher by 2.03% at $94.82 on Monday.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 10:27 am