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PRPL

Keybanc analyst Bradley Thomas has maintained an Overweight rating on Purple Innovation (NASDAQ:PRPL) but reduced the price target from $6 to $5. This adjustment reflects a more conservative valuation of the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:30 am

ABT

IBM

JNJ

MMM

TSLA

The S&P 500 reached a new all-time high, while the Dow Jones ended its winning streak. 3M (MMM) shares dropped after issuing weak FY24 EPS guidance despite better Q4 earnings. Verizon (VZ) rose on strong Q4 results, and Johnson & Johnson (JNJ) also reported better-than-expected earnings. Investors are looking forward to earnings from Tesla (TSLA), Abbott Laboratories (ABT), AT&T (T), and IBM. The Fear and Greed index indicated increased market optimism, remaining in the 'Greed' zone.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 8:50 am

NFLX

Netflix Inc. (NASDAQ:NFLX) has indicated potential price hikes in the future to reflect improvements in the service, as mentioned in their shareholder letter post Q4 results. The company reported Q4 revenue of $8.83 billion and added 13.12 million net paying subscribers. Netflix has ended new subscriptions for its 'Basic' ad-free plan and is phasing it out in the UK and Canada. Co-CEO Ted Sarandos expressed satisfaction with the crackdown on password sharing and sees gaming as a significant opportunity, highlighted by the success of the Grand Theft Auto trilogy. Netflix will also add World Wrestling Entertainment to its platform in 2025.

Portfolio Pulse from Rounak Jain

January 24, 2024 | 8:49 am

JEF

TVAVF

Bill Ackman and Neri Oxman have acquired a 5% stake in the Tel Aviv Stock Exchange Ltd (TVAVF) for $17 million. This is Ackman's first major investment in Israel amid the conflict with Hamas. The Tel Aviv Stock Exchange confirmed the sale of an 18.5% stake to investors, with Ackman and Oxman being the only named buyers in the deal arranged by Jefferies Financial Group Inc. (JEF). Ackman has been addressing the rise in antisemitism and controversies involving Oxman's academic work. Despite these issues, Ackman's Pershing Square Capital Management reported a strong performance in 2023 with a 26.7% return.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 8:00 am

ABT

ISRG

NFLX

TSLA

U.S. stock futures are trading higher, with investor focus on AT&T, Netflix, Tesla, Intuitive Surgical, and Abbott Laboratories ahead of their earnings reports. AT&T is expected to report earnings of 56 cents per share on revenue of $31.48 billion. Netflix reported better-than-expected Q4 sales and a surge in subscribers, causing its shares to jump 8.7%. Tesla is anticipated to post earnings of 74 cents per share on revenue of $25.59 billion. Intuitive Surgical reported better-than-expected Q4 results, with shares rising 6.1%. Abbott Laboratories is expected to report earnings of $1.19 per share on revenue of $10.18 billion.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 7:36 am

NFLX

Netflix Inc. (NASDAQ:NFLX) is exploring the expansion of its gaming portfolio following the success of Grand Theft Auto Trilogy on its platform. Co-CEO Greg Peters highlighted the game's high download and engagement numbers, which surpassed expectations and led to a threefold increase in game engagement over the past year. Netflix sees a $140 billion consumer spend opportunity in gaming, excluding China and Russia. The company plans to continue investing in gaming, with a focus on licensing existing games, some with exclusivity, as part of its strategy. Peters mentioned the possibility of adding popular titles like Candy Crush or Fortnite. Netflix also discussed a crackdown on password sharing, which has increased engagement and new user sign-ups, and its venture into sports entertainment through a partnership with WWE.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 7:34 am

ITI

China's securities regulators are advising hedge funds to limit short selling in the stock index futures market to stabilize the plunging stock market. The China Securities Regulatory Commission (CSRC) and the China Financial Futures Exchange (CFFEX) have informally urged fund managers to avoid or unwind aggressive short positions, especially speculative 'naked' short selling. This comes as the Chinese stock market faces a downturn, with the blue-chip CSI300 Index at near five-year lows, and the government considers a $278 billion rescue package.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 7:14 am

BYDDF

BYDDY

MBGAF

TSLA

Zhao Changjiang, a senior executive at BYD Co Ltd, warned Tesla Inc of challenges in advanced driver-assistance systems and car models for 2024, particularly from BYD's Denza N7 model. Tesla, facing a slowdown in global EV demand, has cut prices in China and seen a significant drop in market valuation. BYD, supported by Warren Buffett, has surpassed Tesla in EV sales in Q4 2023 and is advancing in vehicle intelligence. Berkshire Hathaway has reduced its stake in BYD, selling shares worth $80.7 million.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 7:13 am

NFLX

Netflix, Inc. (NASDAQ:NFLX) reported strong Q4 results, surpassing expectations with high net paid subscriber additions and revenue. The company raised its Q1 operating margin guidance, leading to an 8.66% increase in after-hours trading. Jim Cramer and Ross Gerber praised the results, with Gerber highlighting the impact of the ad-supported tier and password sharing crackdown. KeyBanc's Justin Patterson maintained an Overweight rating on Netflix and increased the price target from $545 to $580, citing potential for sustained growth and positive impact from ad monetization and price increases.

Portfolio Pulse from Shanthi Rexaline

January 24, 2024 | 7:00 am

AT&T Inc. (NYSE:T) is anticipated to report lower Q4 earnings at 56 cents per share compared to 61 cents per year ago, with a slight increase in revenue to $31.48 billion from $31.34 billion. The stock closed up 2.3% at $17.19. Analysts have recently adjusted their price targets, with the most accurate analysts giving mixed reviews ranging from upgrades to maintaining and cutting price targets.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 6:49 am