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US-listed Chinese stocks are down due to new draft rules in China targeting online gaming expenditure, affecting gaming and internet-related stocks.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:17 am

NTES

NetEase shares have declined following China's announcement of draft rules designed to limit online gaming expenditure.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:15 am

AIR

TGI

AAR Corp (NYSE:AIR) reported Q2 FY24 sales of $545.4 million, a 16% increase Y/Y but below consensus estimates. Adjusted EPS rose 17% Y/Y to $0.81, beating estimates. The company announced the acquisition of Triumph Group's Product Support business for $725 million, which is expected to be accretive to revenue and Adjusted EPS in the first full fiscal year. AAR shares dropped 1.40% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 11:10 am

ALPN

HC Wainwright & Co. analyst Joseph Pantginis has reaffirmed a Buy rating on Alpine Immune Sciences (NASDAQ:ALPN) and increased the price target from $17 to $32. This adjustment reflects a more optimistic outlook on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:10 am

TKLF

Yoshitsu Co., Ltd. reported an EPS of $0.05 for the six months ended September 30, 2023, showing an increase from $0.01 in the same period the previous year. However, total revenue decreased to $74.2 million from $77.6 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:10 am

CLWT

Euro Tech Holdings (CLWT) reported a 50% increase in losses per share to $(0.03) in H1 compared to $(0.02) in the same period last year. However, the company's sales rose by 18.23% to $7.96M from $6.73M year-over-year.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:04 am

BILI

FL

NKE

NTES

UAA

Nike reported better-than-expected earnings but missed sales expectations for Q2, causing its shares to fall 11.4% in pre-market trading. The company is exploring ways to achieve $2 billion in cost savings over the next three years. Other stocks such as NetEase, TAL Education Group, Nanobiotix, Bilibili, LexinFintech, HUYA, Gaotu Techedu, New Oriental Education & Technology Group, Foot Locker, and Under Armour also saw declines in pre-market trading, with NetEase and Bilibili affected by China's new draft rules on gaming.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 10:54 am

VTLE

Vital Energy, Inc. (NYSE:VTLE) has acquired an additional working interest in 45 wells in the Permian Basin for $55 million, which is expected to increase its 2024 production by approximately 1,400 BOE/d and Free Cash Flow by about $20 million. The company plans to fund the acquisition by issuing common and preferred shares. VTLE's credit facility remains undrawn with $611 million in cash and cash equivalents. VTLE shares closed higher by 1.46% at $45.03.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 10:49 am

AAPL

Apple Inc. (AAPL) has seen its market value increase by nearly $1 trillion this year, but analysts predict challenges in sustaining this growth in 2024. Factors such as China's crackdown on foreign devices, competition from Huawei, and a potential U.S. ban on Apple's smartwatch business could pose threats. Despite these concerns and stretched valuations, Apple's stock rose by 50% this year. Analysts warn of potential money rotation to other names due to higher valuations and slower growth. Yet, some, like Daniel Ives from Wedbush Securities, remain bullish, predicting a $4 trillion market value by the end of next year.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 10:38 am

AAPL

META

MSFT

Microsoft Corporation (NASDAQ:MSFT) has discontinued its Windows mixed reality feature, which combined augmented and virtual reality technologies. The feature, introduced in 2017, is set to be removed in a future Windows release. This comes as competitors like Apple Inc. (NASDAQ:AAPL) and Meta Platforms Inc. (NASDAQ:META) advance in the mixed-reality market. Apple is expected to launch its Vision Pro headset in February next year, while Meta has released Quest 3 starting at $499.

Portfolio Pulse from Ananya Gairola

December 22, 2023 | 10:37 am