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NUE

Nucor Corporation has partnered with Mercedes-Benz to supply low-carbon steel for vehicle production, aligning with sustainability goals. ATI Inc. launched a new forging press to enhance titanium production for aerospace and defense. The Global X Copper Miners ETF saw a significant surge due to a rise in copper prices, driven by market tightness. Commercial Metals Company announced an increased quarterly dividend.

Portfolio Pulse from Austin DeNoce

March 20, 2024 | 9:06 pm

SPY

The Federal Reserve maintained interest rates at 5.25% to 5.5% during its March meeting, signaling potential rate cuts in the future with a consensus for three rate cuts in 2024. Fed Chair Jerome Powell indicated a likelihood of rate cuts within the year, aiming for a sustainable inflation rate of 2%. The S&P 500 Index reached a record high, with the SPDR S&P 500 ETF Trust (SPY) seeing a 0.9% increase. Economists and strategists provided mixed reactions, ranging from cautious optimism to bullish market outlooks, emphasizing the Fed's cautious stance and the potential for economic expansion and market growth.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 9:05 pm

DRCT

Direct Digital Holdings (NASDAQ:DRCT) is scheduled to release its quarterly earnings report on March 21, 2024, with analysts expecting an EPS of $0.26. The company's past performance shows a significant share price increase following earnings beats, with shares currently up 821.45% over the last 52 weeks. Investors are particularly focused on the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 9:00 pm

LLY

NVO

Eli Lilly's weight loss drugs, particularly Zepbound, have shown significant success, overtaking Novo Nordisk's Wegovy in US prescriptions. Despite this, Eli Lilly's fastest-growing treatment in sales was its cancer drug Verzenio. The weight-loss drug market is expected to grow substantially, with Eli Lilly and Novo Nordisk currently dominating. Eli Lilly's stock has seen remarkable gains, reflecting its market success and the potential of its product portfolio.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 9:00 pm

CZR

DKNG

PARA

WBD

Jim McIngvale, known as Mattress Mack, has placed a $1 million bet on the Houston Cougars to win the 2024 NCAA Men's Basketball Tournament with Caesars Entertainment. The bet was made at odds of +750, and Houston is now a +550 favorite at DraftKings. The tournament's broadcast rights are shared between Warner Bros. Discovery and Paramount Global, with games aired on various channels and streaming platforms. A Houston win could significantly impact Caesars Entertainment due to the large bet.

Portfolio Pulse from Chris Katje

March 20, 2024 | 8:55 pm

HOFV

Hall Of Fame Resort (NASDAQ:HOFV) reported Q4 earnings with an EPS of $-3.2, missing estimates by -23.0% against an expected $-2.6. Revenue increased by $3.61 million from the same period last year. The company's past earnings performance shows a pattern of missing EPS estimates, which previously led to a 1.0% drop in share price the following day.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 8:55 pm

WOR

Worthington Enterprises (NYSE:WOR) reported Q3 earnings with an EPS of $0.8, beating estimates by 7%, but saw a revenue decline to $786.25 million from the previous year. Despite beating EPS estimates in past quarters, such outperformance has previously led to a short-term drop in share price.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 8:55 pm

WOR

Worthington Industries (WOR) reported Q3 earnings of $0.80 per share, surpassing the $0.75 estimate, but saw a 23.08% decrease from last year's $1.04. Sales of $316.75M fell short of the $326.97M estimate and dropped 71.28% from last year's $1.10B.

Portfolio Pulse from dijoy@benzinga.com

March 20, 2024 | 8:54 pm

PEPEUSD

SHIBUSD

Pepe (CRYPTO: PEPE) has seen a 19% surge in the past 24 hours, outperforming Shiba Inu (CRYPTO: SHIB) which gained 7%. The increase in Pepe's price is attributed to a rise in token holders, optimistic analyst sentiment, and its availability on Robinhood's new self-custody crypto wallet and a promotional giveaway by crypto.com. Technical analysis suggests Pepe could triple its current market cap, potentially reaching beyond $9 billion.

Portfolio Pulse from Khyathi Dalal

March 20, 2024 | 8:53 pm

HOFV

Hall Of Fame Resort (HOFV) reported Q4 losses of $(3.20) per share, missing the $(2.60) estimate, but sales of $6.14M exceeded the $5.48M estimate. This represents an 8.83% increase in losses and a 143.24% increase in sales from the same period last year.

Portfolio Pulse from dijoy@benzinga.com

March 20, 2024 | 8:52 pm