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MVLA

Movella Holdings has announced its decision to voluntarily delist from the Nasdaq, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:24 pm

SCVL

Shoe Carnival Inc (NASDAQ:SCVL) reported a Q4 FY23 sales decline of 3.7% Y/Y to $280.17 million, slightly missing estimates. Comparable store sales fell 9.4%, and gross profit dropped 10.4% Y/Y. The company announced a dividend increase of 12.5% and has $50 million available for future share repurchases. FY24 EPS is expected to be $2.55 - $2.75, below the consensus of $2.84, with net sales projected between $1.21 billion and $1.25 billion. SCVL shares closed up 3.23% at $32.95.

Portfolio Pulse from Shivani Kumaresan

March 21, 2024 | 12:24 pm

ASO

Academy Sports and Outdoors' shares dropped following the announcement of disappointing Q4 financial results and FY24 EPS guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:20 pm

PDD

PDD Holdings Inc. (NASDAQ:PDD) reported Q4 fiscal 2023 earnings with a 123% year-on-year revenue growth to $12.52 billion, surpassing the consensus of $11.01 billion. Adjusted earnings per ADS were $2.40, beating the $1.60 consensus. The company holds $30.6 billion in cash and equivalents and generated $5.2 billion in operating cash flow. Online marketing services revenue rose by 57% Y/Y to $6.86 billion. Following the earnings announcement, Jefferies and Barclays raised their price targets for PDD Holdings.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 12:19 pm

RDDT

Reddit, Inc. (NYSE:RDDT) is set to debut on Wall Street with its IPO priced at $34 per share. Gene Munster expressed concerns over the pricing, suggesting it overlooks fundamentals and is high compared to peers like Snap and Pinterest. Munster highlighted Reddit's smaller user base and modest AI revenue. Despite his skepticism, others like Daniel Ives from Wedbush see the IPO as a significant opportunity, especially with positive market sentiment following Federal Reserve's rate cut hints.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 12:18 pm

AAPL

NVDA

Jim Cramer predicts that investors will soon shift their focus from the U.S. Department of Justice's antitrust case against Apple to the company's partnership with Nvidia for the Vision Pro mixed reality headset. This collaboration aims to stream advanced 3D experiences from AI data centers to the Vision Pro, potentially becoming Apple's biggest enterprise revenue stream. Despite the DOJ's lawsuit for illegal iPhone dominance, analysts like Wedbush's Dan Ives believe the case won't significantly impact Apple's business model.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 12:17 pm

DHI

GOOGL

JBL

TPC

Notable insider sales were reported for Alphabet, Jabil, D.R. Horton, and Tutor Perini. These sales could indicate various strategic decisions by the insiders. Alphabet's CEO sold shares amidst news of a new Pixel feature. Jabil's revenue fell short of estimates, while D.R. Horton is set to release financial results. Tutor Perini received a price target update from UBS.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 12:10 pm

ASO

Academy Sports (ASO) reported a Q4 comparable sales decline of 3.6%. This indicates a decrease in sales compared to the same period in the previous year, which could impact investor sentiment and the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:08 pm

TSLA

Gary Black, Future Fund Managing Partner, remains optimistic about Tesla Inc's Cybertruck, predicting it to be a key earnings catalyst by 2025. Black estimates Tesla currently produces 400 Cybertrucks weekly, potentially increasing to 1,000 by Q4 2023, aiming for 30,000 deliveries this year. He projects a profit of $15,000 per Cybertruck in 2023, contributing $0.1/share to EPS, and anticipates 100,000 deliveries in 2025 at $20,000 profit each, adding $0.5/share to EPS. Despite these projections, Black's delivery estimates are lower than Musk's target of 250,000 Cybertrucks by 2025. Black maintains a $250 price target for Tesla, above its current price, and expects the Cybertruck to positively impact Tesla's entire lineup, similar to the Model Y launch.

Portfolio Pulse from Anan Ashraf

March 21, 2024 | 12:08 pm

ASO

Academy Sports (ASO) projects its FY24 comparable sales to range between a decrease of 4% and an increase of 1%.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:07 pm