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PSNY

Polestar reported delivering around 12,800 vehicles in Q4, including 880 Polestar 4 units in China. The company's total annual deliveries rose by 6% to 54,600 vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:07 pm

USO

The Guardian reported that the US and UK are preparing to launch strikes against the Houthi rebels in Yemen. This action is in response to the Houthis' increased aggression in the Red Sea region, which poses a threat to international shipping lanes and has raised concerns about the security of oil supply routes. The potential military intervention could have implications for oil prices and market stability.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:02 pm

BONKUSD

DOGEUSD

SHIBUSD

SOLUSD

Bonk (CRYPTO: BONK), a memecoin rival to Dogecoin, surged 19.5% in the last 24 hours, with a 24-hour trading volume of $592 million. A bullish trader who previously profited from BONK has reinvested, purchasing 3.29 billion BONK with 386 Solana (CRYPTO: SOL). Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) saw smaller gains. The market is also reacting to the approval of a Spot Bitcoin ETF, and influencers are comparing BONK to Dogecoin on the Solana platform.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 9:00 pm

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Bitcoin mining stocks and other crypto-related companies are experiencing a decline following the SEC's approval of several spot Bitcoin ETFs. The SEC's approval, while a milestone, was not an endorsement of Bitcoin, as clarified by SEC chair Gary Gensler. This has likely contributed to the drop in crypto stocks as the ETFs provide a new investment avenue for Bitcoin exposure, potentially reducing demand for stocks like Marathon Digital Holdings, Riot Platforms, and CleanSpark. Additionally, the ETFs could pose a threat to crypto exchanges such as Coinbase Global and Robinhood Markets, which offer direct crypto asset investment services.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 8:53 pm

ZGN

Goldman Sachs analyst Louise Singlehurst upgraded Ermenegildo Zegna N.V. (NYSE:ZGN) to Buy from Neutral and raised the price target to $18.70 from $17. Singlehurst is optimistic about Zegna's growth trajectory, citing a positive fundamental investment case, attractive valuation after recent underperformance, and strong medium-term targets. The analyst expects over a 10% sales CAGR and a 20% CAGR in adjusted EBIT over the medium term, with even higher growth anticipated from 2023 to 2027. The growth is attributed to new retail space, increased store productivity, and strong brand momentum with a loyal high-end customer base. Zegna's top 5% of customers account for 40% of sales, and the high-end customer cohort spending €50k+ per year grew by 63% compared to 2022. The analyst forecasts 20% FX growth in FY23 and 10% in FY24. ZGN shares rose 3.07% to $11.07 following the upgrade.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 8:52 pm

REE

Shares of REE Automotive Ltd. (NASDAQ: REE) surged after the company announced the commencement of deliveries for its P7-C electric chassis cab, following the receipt of U.S. FMVSS and EPA certification. The deliveries are facilitated through REE's Authorized Dealer Network, with Pritchard EV being the first dealer to receive the truck for a roadshow. The P7-C is noted as the first fully by-wire truck to achieve such certifications in the U.S. REE's CEO, Daniel Barel, expressed pride in the team and highlighted the strong demand for their electric work trucks.

Portfolio Pulse from Ryan Gustafson

January 11, 2024 | 8:51 pm

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Connecticut, Maryland, and Maine have seen booming cannabis markets, with record sales in December 2023 for Connecticut ($27.5 million) and significant annual sales for Maryland ($700 million) and Maine ($200 million). Companies like Ascend Wellness Holdings, iAnthus Capital Holdings, and others are experiencing revenue growth. Maryland's market is particularly strong post-legalization, with $270 million in Q3 2023 sales. Investors are advised to watch for market saturation in Maine and potential challenges in Connecticut, such as limited testing lab capacity.

Portfolio Pulse from Nicolás Jose Rodriguez

January 11, 2024 | 8:47 pm

Goldman Sachs analyst has increased the price target for Mastercard Inc (NYSE:MA) from $433 to $482 while maintaining a Buy rating. Despite a mixed outlook for credit card spending and expected deceleration in card volume growth, the analyst predicts consistent spending trends in 2024 similar to H2 FY23. Uncertainty remains around average ticket sizes, which have declined despite inflation. U.S. volume growth is projected at ~8% for 2024, with intermediate-term growth estimated between 6%-8% domestically and ~8%-10% globally. The analyst anticipates Mastercard to guide to high teens EPS growth for 2024, with an EPS estimate range of $14.14-$14.20, compared to a consensus of $14.23 for FY24. Mastercard shares were trading slightly lower at the time of the report.

Portfolio Pulse from Lekha Gupta

January 11, 2024 | 8:44 pm

DOCU

DocuSign shares have risen after a Reuters report indicated that private equity firms Bain Capital and Hellman & Friedman are in competition to acquire the electronic signature company.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:43 pm

SPY

Fed member Goolsbee stated that the Federal Reserve cannot decide on its actions for the March meeting without evaluating incoming data. The Fed will assess the level of policy restrictiveness needed as inflation rates decrease.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:42 pm