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FSLR

First Solar's stock price increased following an upgrade by Wells Fargo from Equal-Weight to Overweight, with a new price target set at $250, up from $187.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:26 pm

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SPY

Israel conducted an airstrike near an Iranian military airbase as retaliation, causing no significant damage or casualties but raising concerns of broader escalation in the Middle East. Political reactions vary, with Iran signaling no intent to retaliate to avoid escalation, while global leaders call for calm. The market reacted with a spike in oil and gold prices and volatility in Bitcoin, but U.S. futures remained flat. The Biden administration is considering over $1 billion in new weapons deals for Israel.

Portfolio Pulse from Piero Cingari

April 19, 2024 | 1:26 pm

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Nayuki Holdings Ltd. (OTC:NYKHF) faces increased competition as it slows store openings and tweaks its franchising model. The premium tea seller, known for its bubble tea, is adjusting its strategy to boost presence in smaller cities. Meanwhile, at least five major rivals, including industry leader Mixue and newly listed Chabaidao, have filed for IPOs in Hong Kong, increasing competition for investor attention. Nayuki's P/S ratio of 0.72 contrasts with Chabaidao's 1.4, indicating investor wariness towards the sector. Nayuki's stock has declined significantly, reflecting skepticism and challenges ahead, including quality control and margin pressure in franchising.

Portfolio Pulse from The Bamboo Works

April 19, 2024 | 1:23 pm

SMCI

Super Micro Computer (SMCI) shares are trading lower after the company announced its Q3 earnings date without providing preliminary estimates, a departure from its Q2 practice.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:22 pm

WYNN

Barclays analyst Brandt Montour maintains an Overweight rating on Wynn Resorts (NASDAQ:WYNN) and raises the price target from $123 to $124.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:18 pm

Blackstone Inc (NYSE:BX) reported Q1 FY24 earnings with adjusted revenues of $2.55 billion, surpassing the consensus of $2.49 billion. Distributable earnings rose 1% Y/Y to $1.27 billion, with earnings per share of $0.98 beating the consensus of $0.97. Assets under management increased by 7% Y/Y to $1.06 trillion. The company declared a quarterly dividend of 83 cents per share. Despite the positive earnings, Blackstone shares fell 2.3% to close at $120.32. Post-earnings, JP Morgan and Barclays adjusted their price targets on Blackstone to $100 and $125, respectively.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 1:18 pm

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Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:16 pm

AAPL

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Alibaba Group Holding Ltd (NYSE:BABA) has launched a 3D shopping app for Taobao, designed for Apple Inc's (NASDAQ:AAPL) Vision Pro headset, marking a new era for online retail in China. The app, which offers an immersive view of products, is currently in its testing phase and will officially launch in China alongside the Vision Pro. Alibaba's expansion efforts include a live commerce subsidiary and significant growth in its global e-commerce division. BABA shares have fallen over 26% in the last 12 months, with exposure available through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 1:13 pm

JWN

Nordstrom Inc (NYSE:JWN) is considering a go-private proposal after its CEO Erik Nordstrom and President Pete Nordstrom expressed interest in such a transaction. The company's Board has formed a special committee to explore this and other strategic alternatives. This move reflects broader challenges in the retail sector, including inflation and borrowing concerns. The Nordstrom family, owning about 30% of shares, previously attempted to take the company private in 2018. Macy's Inc (NYSE:M) has also received privatization offers, indicating a trend in the sector. JWN shares saw a slight increase in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 1:11 pm

DHI

D.R. Horton, Inc. (NYSE:DHI) exceeded Q2 financial expectations with a GAAP EPS of $3.52 against estimates of $3.07 and sales of $9.100 billion versus the expected $8.266 billion. The company updated its FY24 revenue outlook to $36.7-$37.7 billion, above consensus estimates, and expects to close 89,000 to 91,000 homes. Shares slightly increased by 0.1% to $145.88. UBS and Barclays revised their price targets for DHI following these results.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 1:08 pm