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DIS

Jamie Dimon has publicly endorsed Disney CEO Bob Iger in the ongoing proxy fight with Nelson Peltz's Trian Partners. This high-profile support could influence the outcome of the dispute, highlighting the significance of leadership and strategic direction in major corporations.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:23 pm

DXCM

DexCom's stock (DXCM) is trading higher following an Outperform rating and a $165 price target initiation by RBC Capital.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:21 pm

SWIM

Latham Group, Inc. (NASDAQ:SWIM) reported Q4 sales of $90.867 million, surpassing estimates, and a net income of $0.1 million, a significant improvement from a year-ago net loss of $19.0 million. Despite these positive results, the company's FY24 revenue forecast of $490 million to $520 million falls short of analysts' expectations of $546.746 million. Following this, Barclays and B of A Securities cut their price targets on SWIM, with B of A Securities also downgrading the stock from Buy to Underperform. SWIM shares dropped 0.6% to close at $3.28.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 1:18 pm

COIN

HOOD

Shiba Inu (SHIB) experienced a significant movement with 6.84 trillion tokens shifted to Coinbase, Binance, Robinhood, Cumberland, and Wintermute, worth $227 million. This activity coincides with a drop in SHIB's price by 5.7% and a spike in whale transactions. The Shib community believes Shiboshi NFTs offer 'passive income for life,' a sentiment echoed by Shiba Inu's marketing lead and lead developer. Despite a recent ranking drop, Shiba Inu's utility in the blockchain space is highlighted.

Portfolio Pulse from Khyathi Dalal

March 13, 2024 | 1:17 pm

MGIC

Magic Software Enterprises Ltd (NASDAQ:MGIC) reported Q4 revenue of $125.5 million, surpassing the consensus of $117.5 million, with a 14.7% year-on-year decline. Adjusted EPS was $0.24, beating the consensus of $0.19. The company saw an expansion in adjusted gross margin to 30.8% and operating margin to 14.1%. Cash and equivalents stood at $107.1 million as of December 31, 2023. Operating cash flow for the year was $77.9 million, up from $56.6 million Y/Y. CEO Guy Bernstein remains positive despite a slowdown in the second half of the year. Magic Software introduced a 2024 revenue guidance of $540-$550 million, well above the consensus of $473.77 million. MGIC shares rose 6.92% to $11.43 in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 1:13 pm

BTCUSD

NYCB

This week, Jerome Powell's dovish stance before Congress, weaker job reports, all-time highs for Bitcoin and gold, rising gas and oil prices due to production cuts, and the investor bailout of New York Community Bank ($NYCB) were highlighted. Powell's willingness to lower rates before inflation hits 2% mirrors past mistakes, while job data suggests a weaker economy than reported. Bitcoin and gold reaching all-time highs indicate a search for stability amidst market volatility. Saudi Arabia and Russia's production cuts have pushed oil prices over $80. The $1 billion investment led by Steve Mnuchin in NYCB reflects ongoing concerns about the banking sector's stability.

Portfolio Pulse from Gary Brode

March 13, 2024 | 1:12 pm

HMC

MZDAY

Toyota Motor Corp (NYSE:TM) has agreed to its labor union's requests for salary and bonus increases for the fourth consecutive year, potentially influencing Japan's wage-price cycle. This move, which led to a surge in the yen and a drop in government bond futures, sets a precedent for wage trends in Japan, impacting over 5 million workers. Similar agreements by Honda Motor Co Ltd (NYSE:HMC) and Mazda Motor Corp (OTC:MZDAY) indicate a broader push for wage growth. These developments could prompt the Bank of Japan to reconsider its negative interest rate policy.

Portfolio Pulse from Shivani Kumaresan

March 13, 2024 | 1:10 pm

VJET

voxeljet announced its decision to voluntarily delist its American Depositary Shares (ADSs) from Nasdaq and to deregister them. Additionally, the company disclosed the restatement and extension of its loan financing agreement with Anzu.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:06 pm

BIRD

BNED

EDUC

SWIM

TOUR

In Wednesday's pre-market session, several consumer discretionary stocks showed significant movement. Tuniu, Educational Development, Barnes & Noble Education, Allied Gaming, Clarus, and Target Hospitality were among the gainers, with notable increases in their stock prices following recent earnings reports. Conversely, Latham Group, Allbirds, Naas Technology, ZHONGCHAO, Kidpik, and SRIVARU Holding experienced declines, also influenced by their earnings outcomes.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 1:06 pm

CYRX

NCNA

In Wednesday's pre-market session, health care stocks showed significant movement. NuCana, Kintara Therapeutics, Agile Therapeutics, Compass Therapeutics, HUTCHMED, and Qilian Intl Hldg Gr were among the gainers, with NuCana leading by surging 110.6%. On the downside, P3 Health Partners, 180 Life Sciences, CryoPort, Renalytix, Celularity, and Inspire Veterinary were the losers, with P3 Health Partners dropping 14.7%. CryoPort's decline was noted alongside its Q4 earnings report release.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 1:06 pm