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CAG

CALM

RGP

WBA

U.S. stock futures are trading higher, with investor focus on Walgreens (WBA), Cal-Maine Foods (CALM), Conagra Brands (CAG), Resources Connection (RGP), and Lamb Weston Holdings (LW) based on earnings reports and expectations. WBA is expected to report earnings before the bell with a recent share price drop. CALM reported disappointing Q2 results, causing a share price decline. CAG is anticipated to report earnings with a slight increase in after-hours trading. RGP posted better-than-expected Q2 results, leading to a share price gain. LW is expected to report earnings with a recent share price fall.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 8:28 am

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) faces a challenging future as its shares have dropped 75% from their 2020 high, now trading below $77. The company was fined $2.8 billion for monopolistic practices in 2021 and has recently canceled the IPO of its cloud computing unit. This has led to a decrease in U.S. market value, falling below that of competitor PDD Holdings Inc (NASDAQ:PDD). Alibaba's cloud business is also losing market share to Huawei Technologies Co., and the company faces a tough IPO market for its logistics and grocery store chains.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 8:27 am

FFND

TSLA

Tesla, Inc. (TSLA) shares dropped over 4% on Wednesday, but bullish analyst Gary Black of Future Fund remains optimistic. Despite the downturn, Black highlighted Tesla's strong performance in 2023 with a 102% increase compared to Nasdaq's 54%. He attributed the tech sector's decline to investor concerns over the Federal Reserve's less aggressive rate cuts. Black praised Tesla's Q4 deliveries, driven by record demand in China, and anticipates Q4 core auto gross margins to exceed Q3's 16.3%. He expects Tesla to guide to 2024 deliveries of at least 2.2 million units, a 22% year-over-year growth, which would be the slowest since 2013 but still achievable. The Future Fund Active ETF (FFND), where Tesla is the second-biggest holding, may also be impacted by these sentiments.

Portfolio Pulse from Shanthi Rexaline

January 04, 2024 | 8:18 am

BTDR

UBS predicts a significant expansion in the AI industry, forecasting a growth from $2.2 billion in 2022 to $225 billion by 2027, a 152% CAGR. AI sector revenue is expected to increase 15-fold, from $18 billion to $420 billion, with a 138% CAGR in the application sector. AI infrastructure spending is also projected to grow, benefiting hardware chips and GPUs used in AI training. Despite concerns over regulatory rhetoric, early rule implementation may be advantageous. The tech industry is experiencing 'peak AI hype,' with investors looking for returns on AI investments.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 8:09 am

EWQ

France's preliminary Consumer Price Index (CPI) for December showed a 0.1% increase, which is lower than the estimated 0.2% and a decrease from the previous -0.2%.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:46 am

AMZN

TSLA

Jim Cramer, the host of CNBC's Mad Money, has advised investors to take profits on their Big Tech investments, highlighting the importance of profit-taking even when it's difficult to let go of shares from the 'Magnificent Seven', a group of top-performing tech companies. He mentioned that despite potential regrets of selling these stocks, the current market conditions might present a lower buy-in opportunity. Cramer specifically pointed out Amazon (AMZN) for its Prime Video service's revenue potential and Tesla (TSLA) for its future growth beyond electric vehicles.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 7:46 am

CRM

META

NVDA

Mark Zuckerberg resumed selling Meta Platforms Inc. (META) shares after a two-year hiatus, offloading $428 million worth in the last two months of 2023. Zuckerberg sold shares every trading day from November 1 through year's end, totaling nearly 1.28 million shares. Meta's stock price rebounded in 2023, surging by 194% from a seven-year low. Marc Benioff of Salesforce Inc. (CRM) also sold over $475 million worth of shares in the second half of 2023. Despite the sales, these transactions represented a small portion of the tech moguls' wealth.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 7:35 am

BNR

Burning Rock Biotech has been notified by NASDAQ about not meeting the minimum bid price requirement. The company's stock price has fallen below the required $1.00 minimum bid price for the last 30 consecutive business days. NASDAQ's notification does not result in the immediate delisting of Burning Rock Biotech's shares. The company has a compliance period of 180 calendar days to regain compliance. If at any time during this period the bid price of the company's stock closes at $1.00 or higher for a minimum of 10 consecutive business days, NASDAQ will provide written confirmation of compliance.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:25 am

FGF

FGFPP

FG Financial Group and FG Group Holdings have announced a merger to form Fundamental Global Inc. The merger is expected to result in significant expense savings, improved scale, and capital efficiency. The combined entity will have over $110 million in total assets and $65 million in annual revenue. Post-merger, the company will trade on Nasdaq under the tickers 'FGF' for common stock and 'FGFPP' for Series A cumulative preferred stock.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:14 am

KROS

Keros Therapeutics has announced the pricing of an upsized public offering of 3.5 million common shares at $40 per share, aiming to raise $140 million.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:01 am