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NLY

Annaly Capital Management, Inc. (NLY) shares closed flat despite the S&P 500 nearing record levels. Analyst Bose George maintained an Outperform rating and raised the price target from $17 to $21.50. The company reported a Q3 GAAP loss of $1.21 per share. Shares rose 10% over the past month but fell 7% YTD. Annaly offers a high dividend yield of 13.08%, equating to a quarterly dividend of 65 cents per share. To earn $500 monthly in dividends, an investor would need 2,308 shares, valued at approximately $45,883. The article also explains how dividend yield fluctuates with stock price and dividend changes. NLY shares were down 3.1% to $19.88 on Thursday.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 12:50 pm

LYFT

QQQ

SPY

TSLA

UBER

Ahead of the final trading session of 2023, Nasdaq and S&P 500 futures are flat, with the broader market potentially setting a record close. The S&P 500 is close to an all-time high, and the market is expected to have low volume due to the New Year holiday. Thursday's trading closed mixed, with the S&P 500 nearing its record and Nasdaq slightly down. Analyst Louis Navellier predicts AI to be a major theme and expects energy, consumer staples, utilities, and healthcare to do well in 2024. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight premarket gains. Tesla (TSLA) is up in premarket trading, while Lyft (LYFT) and Uber (UBER) are down. Economic data to watch includes the Chicago ISM manufacturing survey.

Portfolio Pulse from Shanthi Rexaline

December 29, 2023 | 12:45 pm

BSX

BTIG analyst Marie Thibault has reiterated a Buy rating on Boston Scientific (NYSE:BSX) and maintained a price target of $64.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:43 pm

HPP

BTIG analyst Thomas Catherwood has maintained a Buy rating on Hudson Pacific Properties (NYSE:HPP) and increased the price target from $11 to $13.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:39 pm

AMZN

META

TSLA

Elon Musk's net worth increased by $95.4 billion in 2023, making him the world's richest person again, largely due to Tesla and SpaceX's success. Tech billionaires collectively grew their wealth by 48%, with significant gains for Amazon's Jeff Bezos and Meta's Mark Zuckerberg. In contrast, Indian billionaire Gautam Adani faced a major loss due to allegations by Hindenburg Research.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 12:36 pm

VRPX

Virpax Pharmaceuticals announced plans for a reverse stock split with a ratio range between 1-to-2 and 1-to-20. The effective date of the split will be disclosed at a later time.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:36 pm

AMD

NVDA

AMD is set to release a new low-end graphics card, the Radeon RX 7600 XT, on January 22, positioned between the RX 7700 XT and RX 7600. The launch is in response to Nvidia's introduction of more affordable options. The RX 7600 XT will not feature a reference model and is expected to offer modest performance improvements with a memory upgrade. AMD's stock rose 20.1% last month, outperforming Nvidia's 2.9% gain. AMD shares closed higher by 0.56% at $149.60 on Thursday.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 12:34 pm

RLX

RLX Technology Inc (NYSE:RLX), a China-based e-vapor company, has announced the extension of its share repurchase program through December 31, 2025. The program, established in December 2021, allows for the repurchase of up to $500 million in ordinary shares represented by ADSs. As of December 28, 2023, RLX has repurchased approximately $193.5 million of its shares. The company plans to use its existing cash balance for further repurchases, with $2.074 billion in various cash forms reported as of September 30, 2023. RLX also recently invested about $25 million in two share purchase agreements to aid international expansion. RLX shares saw a 2.08% increase in premarket trading to $1.96.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 12:25 pm

ACAD

Mizuho analyst Uy Ear has maintained a Buy rating on ACADIA Pharmaceuticals (NASDAQ:ACAD) and increased the price target from $35 to $40, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:05 pm

VSME

VS Media (VSME) has been notified by the Nasdaq Stock Market that it is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. This could lead to potential delisting if the issue is not resolved.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:01 pm