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GDYN

Wedbush analyst Moshe Katri initiated coverage on Grid Dynamics Holdings Inc (NASDAQ: GDYN) with an Outperform rating and a price target of $13, citing strong first quarter and 2024 results, GenAI initiatives, and significant partnership opportunities. Katri expects mid-single-digit and mid-double-digit revenue growth between 2024 and 2025, respectively.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 5:57 pm

BAH

BKE

DECK

DIA

FSLR

INTU

IWM

QQQ

ROST

SPY

STEP

USO

UUP

WDAY

WOOF

XLV

XLY

The Nasdaq 100 surged over 1% on Friday, setting the stage for a record high close and marking its fifth consecutive week of gains. The S&P 500 rose 0.7%, while small-cap stocks saw robust gains. AI-linked stocks and sectors like chipmakers, solar, and power utilities performed well. Treasury yields remained stable, and the U.S. dollar index fell, providing relief to precious metals and crude oil. Several companies saw significant stock movements due to earnings reports.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 5:54 pm

NDVAF

Indiva Limited (OTCPK: NDVAF), a Canadian cannabis edibles producer, reported a marginal decrease in Q1 2024 revenue to CA$9.3 million, influenced by seasonal declines and regulatory changes. Despite a net loss of CA$1.8 million, the company saw a 160% growth in net revenue from core brands like Pearls by Grön. Indiva projects a promising Q2 2024 with higher net revenue and enhanced margins.

Portfolio Pulse from Patricio Liddle

May 24, 2024 | 5:47 pm

MRK

MRUS

Merus N.V. (NASDAQ:MRUS) announced promising interim clinical data for its cancer treatment combination of petosemtamab and Merck & Co Inc’s (NYSE:MRK) Keytruda. The data, presented in an abstract for the 2024 ASCO Annual Meeting, showed a 60% response rate in 10 evaluable patients with head and neck squamous cell carcinoma. The combination was well tolerated with manageable side effects. As a result, MRUS shares surged over 30%.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 5:41 pm

MAT

PONGF

Atari SA (OTC:PONGF) has acquired Intellivision, ending a long-standing rivalry in the video game industry. The acquisition includes Intellivision's brand and a library of over 200 games, but not the Intellivision Amico console project. Atari plans to expand the distribution of Intellivision games and explore new opportunities. Intellivision will retain rights to develop the Amico and will collaborate with Atari on licensing.

Portfolio Pulse from Franca Quarneti

May 24, 2024 | 5:38 pm

AES

APH

AXTI

BAC

GOOGL

INTC

META

MSFT

NVDA

SMCI

SNX

VST

Investors are expanding their focus beyond Nvidia in the AI sector, looking at companies in various industries such as electrical components, data centers, utilities, and technology supply chains. Companies like Amphenol, AES, TD Synnex, and Vistra are seeing significant gains due to AI-related growth.

Portfolio Pulse from Shivani Kumaresan

May 24, 2024 | 5:37 pm

ALL

BRK

ENPH

FSLR

GNRC

HD

ICLN

LOW

TAN

NOAA predicts an aggressive hurricane season for 2024, which could impact various stocks. Home Depot, Lowe's, and Generac may see increased demand, while clean energy companies like First Solar and Enphase Energy could benefit from the focus on climate change. Insurers like Allstate and Berkshire Hathaway may face challenges due to climate risks.

Portfolio Pulse from Hayden Buckfire

May 24, 2024 | 5:30 pm

FDX

UPS

FedEx Corporation (NYSE:FDX) has reinstated its International Priority services to Kyiv, Ukraine, while maintaining the suspension of services in Russia and Belarus. United Parcel Service, Inc. (NYSE:UPS) continues to suspend operations in Ukraine, Belarus, and Russia. FedEx shares are trading lower by 0.80% to $247.30.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 5:19 pm

DOGEUSD

SHIBUSD

A trader profited $230,000 by betting on the death of Kabosu, the dog behind the Dogecoin meme. The price of the Kabosu-themed token spiked following the dog's death. Dogecoin (DOGE) saw a 2.6% daily gain, while Shiba Inu (SHIB) dropped by 0.9%.

Portfolio Pulse from Khyathi Dalal

May 24, 2024 | 5:18 pm

BTCUSD

ETHUSD

Prominent trader smileycapital predicts Ethereum (ETH) could reach $9,000 in the short term following the approval of a spot Ethereum ETF. He draws comparisons with Bitcoin's performance post-ETF approval but notes differences in market conditions. Long-term, he targets $12,000 to $16,000 for ETH.

Portfolio Pulse from Murtuza Merchant

May 24, 2024 | 5:05 pm