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HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) has expanded its media presence by adding Chartr Limited, a U.K.-based data-driven media company and newsletter publisher, to its Sherwood Media unit. Chartr is known for its visual storytelling and will continue its newsletter while reaching millions of new readers through Sherwood Media. The acquisition aligns with Sherwood's strategy to enhance its editorial offerings, including Snacks, with news, reporting, and live events. Robinhood also reported an increase in wealthier clients and a growth in net cumulative funded accounts to 23.3 million as of November end. HOOD shares saw a slight increase of 0.02% to $12.62.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 5:21 pm

MU

NVDA

Micron Technology Inc (NASDAQ:MU) shares rose after reporting better-than-expected Q1 revenues. Analysts are optimistic, citing strong pricing rebound in DRAM and NAND, with most raising their price targets. Micron's gross margin and earnings outlook exceeded expectations, and inventory levels are normalizing. The company's HBM3E product is expected to drive demand, particularly with NVIDIA Corp (NASDAQ:NVDA) for its H200 and GH200 offerings. Analysts predict a memory cycle upswing, supported by disciplined supply management and strong AI-driven demand.

Portfolio Pulse from Priya Nigam

December 21, 2023 | 5:18 pm

PARA

Paramount Global's stock (NASDAQ:PARA) is down amid news of Byron Allen renewing his bid for BET Media Group, offering $3.5 billion for BET and VH1. This comes after reports of a potential $2 billion sale of BET to a management-led investor group. Previously, Paramount had rejected offers for BET, including from Allen and Tyler Perry. Allen's renewed interest coincides with talks of a larger merger between Paramount Global and Warner Bros Discovery. BET, a significant component of Black media, was acquired by Viacom in 2001 and its potential return to Black ownership has garnered attention.

Portfolio Pulse from Anusuya Lahiri

December 21, 2023 | 5:15 pm

BMMJ

Body and Mind Inc (OTCQB:BMMJ), a cannabis MSO, reported Q1 2024 earnings with a revenue decrease of 7% to $5.5 million from $5.8 million in Q1 FY2023. However, net income rose to $0.2 million from a net loss of $3.0 million in Q1 FY2023, primarily due to the sale of their Ohio dispensary. The company also repaid $7.3 million in senior secured debt, saving approximately $1 million annually in interest. Gross margins improved to 37.4%. BMMJ's stock traded 34.78% lower at $0.06 per share.

Portfolio Pulse from Patricio Liddle

December 21, 2023 | 5:14 pm

CCL

CUK

Carnival Corp (NYSE:CCL) (NYSE:CUK) shares surged approximately 7% following its Q4 FY23 earnings report. The company surpassed sales expectations with $5.397 billion against a $5.306 billion consensus. Passenger Cruise Days increased, and a record $6.4 billion in customer deposits was achieved. Operating income turned positive at $384 million compared to a loss last year, and adjusted EBITDA of $946 million exceeded guidance. Adjusted EPS loss was smaller than expected. The company forecasts strong Q1 adjusted EBITDA and a rise in net yields, with a positive outlook for FY24.

Portfolio Pulse from Lekha Gupta

December 21, 2023 | 5:10 pm

SNAP

On CNBC, Josh Brown, a well-known financial analyst, announced that he has purchased shares of Snap Inc. (SNAP).

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 5:09 pm

AISP

BYTS

Airship AI Holdings has completed its business combination with BYTE Acquisition Corp., and the combined company will trade on Nasdaq under the ticker 'AISP' starting December 22, 2023. Airship AI, which provides AI-driven surveillance solutions, has a $163 million pipeline and recently secured $10.9 million in contracts from the Department of Homeland Security. The company targets a rapidly growing edge AI market, projected to reach over $40 billion by 2030, and boasts a blue-chip customer base including federal agencies and Fortune 500 companies. The business combination is expected to enhance Airship AI's visibility, growth, and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 5:06 pm

UPS

Analysts have provided mixed ratings for United Parcel Service (NYSE:UPS) with 1 bullish and 5 indifferent. The average 12-month price target is now $173.17, down from $181.80. Analysts from firms including JP Morgan, Susquehanna, Raymond James, HSBC, and Barclays have adjusted their price targets and ratings, reflecting a cautious outlook on UPS's performance. Despite a revenue decline of -12.83% over the past 3 months, UPS maintains strong financial health indicators such as a net margin of 5.35%, ROE of 5.75%, and ROA of 1.6%, with a debt-to-equity ratio of 1.33.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 5:01 pm

EOG

Raymond James has reaffirmed its Strong Buy rating on EOG Resources (NYSE:EOG) but reduced its price target from $154.00 to $148.00. EOG Resources' shares are slightly down, trading at $121.35. The new price target suggests a potential upside of 21.96%. EOG Resources is a significant oil and gas producer with key operations in U.S. shale regions and reported substantial reserves and production in 2022.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 5:00 pm

LOW

Over the past 20 years, Lowe's Companies (NYSE:LOW) has produced an average annual return of 11.05%, outperforming the market. A $100 investment in LOW 20 years ago would be worth $812.20 today. The company's current market capitalization stands at $129.00 billion.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 5:00 pm