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FINV

LX

Yixin Group Ltd. is selling its 49% stake in a joint venture with Qingdao Caitong Group to focus on its core auto financing business in China, particularly benefiting from the EV boom. Despite a challenging Chinese car market, Yixin's auto financing grew 30% year-on-year in Q3 2023. The company's diversification efforts remain within the auto industry, such as a SaaS platform for auto financing-related technology. Yixin's shares saw a brief rally after the announcement, indicating investor confidence. Other Chinese online lenders like FinVolution and LexinFintech also have low P/S ratios, reflecting a depressed valuation in the sector.

Portfolio Pulse from The Bamboo Works

January 10, 2024 | 6:13 pm

SPXL

SPXS

SPY

The SPDR S&P 500 ETF (SPY) showed slight gains on Wednesday, continuing its consolidation after Monday's significant rise. The market is anticipating key US consumer inflation data set to be released on Thursday, which could significantly impact the direction of SPY. Traders looking to take short-term positions based on the upcoming data may use the Direxion Daily S&P 500 Bull 3X Shares (SPXL) for a bullish stance or the Direxion Daily S&P 500 Bear 3X Shares (SPXS) for a bearish approach. Both SPXL and SPXS are triple-leveraged ETFs tracking SPY's movements. The article suggests that SPXL is showing a bullish pattern but warns of a potential new downtrend if negative market reactions occur after the inflation data release.

Portfolio Pulse from Melanie Schaffer

January 10, 2024 | 6:10 pm

BLK

BlackRock, the world's largest asset manager, is preparing to invest $2 billion in a spot bitcoin ETF, pending approval. This move reflects growing institutional interest in cryptocurrencies amid concerns about the U.S. dollar's future dominance. Bitcoin's price has surged past $45,000, a 187% increase since November 2022, and is approaching the $50,000 mark.

Portfolio Pulse from Zaheer Anwari

January 10, 2024 | 6:10 pm

BA

Boeing CEO admitted on CNBC to a 'quality escape' that permitted the unsafe 737 Max-9 to fly, raising concerns about the company's quality controls and safety measures.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:10 pm

BA

Boeing Co (NYSE:BA) faces challenges after grounding over 170 Boeing 737 Max 9s due to a midair door blowout incident. Despite ongoing quality issues and pressure on aviation regulators, the impact on 2024 deliveries is expected to be limited. Boeing's stock has seen a recent decline from $264 to $229, but a Golden Cross on the price chart suggests a potential bullish trend. This could present a good entry point for long-term investors.

Portfolio Pulse from Surbhi Jain

January 10, 2024 | 6:07 pm

WDFC

WD-40 Company (NASDAQ:WDFC) shares surged over 17% after reporting Q1 earnings of $1.28 per share, surpassing estimates of $1.05 per share, and sales of $140.42 million, above the expected $134.37 million. Other stocks experienced significant movements in Wednesday's mid-day session, with various companies reporting funding, FDA interactions, earnings, and other corporate updates.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 6:06 pm

PANW

Citigroup analyst Fatima Boolani has reaffirmed a Buy rating on Palo Alto Networks (NASDAQ:PANW) and increased the price target from $280 to $335, signaling confidence in the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:06 pm

USO

Oil prices declined after U.S. inventory data indicated a strong build-up in gasoline and distillate stocks, while crude stocks also increased. Nymex WTI and Brent crude both fell, with WTI remaining flat and Brent slightly down. The United States Oil ETF (USO) also dropped 0.1%. The Energy Information Administration (EIA) reported increases in crude oil, gasoline, and distillate stockpiles. The EIA forecasts flat crude oil prices for 2024 and 2025, expecting a balanced global supply and demand. U.S. gasoline pump prices are near a two-year low, with the potential to decrease further unless affected by an arctic blast.

Portfolio Pulse from Neil Dennis

January 10, 2024 | 6:04 pm

BA

Boeing CEO Dave Calhoun appeared live on CNBC to discuss the investigation into the Max-9 aircraft. The discussion likely covered the company's response to the investigation, potential safety concerns, and the impact on Boeing's operations and reputation.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:02 pm

AVGO

Over the past 10 years, Broadcom (NASDAQ:AVGO) has produced an average annual return of 34.57%, outperforming the market by 24.6% on an annualized basis. A $100 investment in AVGO a decade ago would be worth $2,044.99 today. Broadcom's market capitalization currently stands at $503.95 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:00 pm