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Semiconductor stocks are trading higher following the Biden administration's announcement of a planned investment exceeding $5 billion in semiconductor research, development, and workforce needs.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:14 pm

SMH

The Biden-Harris Administration plans to invest over $5 billion in semiconductor-related R&D and workforce development, including in the National Semiconductor Technology Center (NSTC), as part of the CHIPS and Science Act. This investment aims to advance U.S. leadership in semiconductor R&D, reduce commercialization costs, bolster national security, and support semiconductor job creation. The NSTC, a public-private consortium, will focus on innovation, workforce development, and lowering R&D participation barriers. Additional investments include $200 million in a CHIPS Manufacturing USA Institute and up to $300 million in advanced packaging R&D.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:13 pm

CYTK

Over the past 5 years, Cytokinetics (NASDAQ:CYTK) has significantly outperformed the market, with an annualized return of 46.76% and an average annual return of 59.6%, growing a $1000 investment to $10,649.92. The company now has a market capitalization of $7.70 billion.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 8:00 pm

HLI

Houlihan Lokey (NYSE:HLI) has significantly outperformed the market with an average annual return of 22.94% over the past 5 years, turning a $1000 investment into $2,864.43 today. The company's market capitalization stands at $8.67 billion.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 8:00 pm

BMY

Bristol-Myers Squibb (NYSE:BMY) has seen significant options trading activity, with a bullish sentiment from big-money traders. The trading volume and open interest suggest a focus on a price band between $45.0 and $60.0. Recent trades include both puts and calls, with a notable split in sentiment. Analysts have set an average target price of $52.5, with mixed ratings from Wells Fargo and Redburn Atlantic. The company's stock is currently neutral with a slight increase in price.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:45 pm

GBTC

Bitcoin and Ethereum have seen significant gains, with Bitcoin surging almost 6% and both cryptos up 14% and 11% respectively since Feb. 5. Dogecoin, however, has shown weakness, stalling above the 8-cent mark. The Grayscale Bitcoin Trust ETF (GBTC) has risen about 14% over the last four trading days, potentially setting up for a gap open on Monday. Bitcoin and Ethereum are facing technical resistance levels, while Dogecoin struggles with low trading volume and a lack of direction.

Portfolio Pulse from Melanie Schaffer

February 09, 2024 | 7:43 pm

WMT

Recent analysis of Walmart's (NYSE:WMT) options activity reveals a bullish sentiment among investors, with a majority of trades being calls. The observed trades suggest an expected price range for Walmart's stock between $140.0 and $172.5. The most significant options trades include both bullish calls and a notable bearish put, indicating diverse investor expectations. Walmart's current stock price is $169.41, with indicators suggesting it may be approaching overbought territory. The company's vast retail operations have generated significant sales, serving as a foundation for its stock performance.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:31 pm

WPM

Wheaton Precious Metals (NYSE:WPM) has delivered an average annual return of 16.78% over the past 5 years, outperforming the market by 3.97% annually. With a current market capitalization of $20.79 billion, an initial investment of $100 in WPM 5 years ago would be worth $216.70 today.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:30 pm

BIIB

Over the past 20 years, Biogen (NASDAQ:BIIB) has produced an average annual return of 9.28%, outperforming the market by 1.7% on an annualized basis. With a current market capitalization of $34.73 billion, a $1000 investment in BIIB 20 years ago would be worth $5,903.13 today.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:30 pm

IMXUSD

Immutable's cryptocurrency, IMX, saw a price increase of 5.65% in the last 24 hours, reaching $2.38. Over the past week, its price has risen over 8%, from $2.21. Despite a 32% drop in trading volume this week, the circulating supply of IMX increased by 0.65% to 1.36 billion, 67.77% of its max supply. Currently, IMX's market cap ranks #29 at $3.24 billion.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:02 pm