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CSCO

NVDA

VAST Data has been selected as the first data platform for Cisco Nexus HyperFabric in collaboration with NVIDIA. This partnership aims to provide enterprises with high-performance AI infrastructure and an Ethernet-based AI fabric to manage large volumes of data. The VAST Data Platform will integrate with Cisco's cloud-management solution for data center networking, allowing for optimized performance and latency monitoring.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 3:09 pm

CSCO

NVDA

Cisco has announced a new AI cluster solution, Nexus HyperFabric AI Clusters, in collaboration with NVIDIA. This solution aims to simplify the deployment of generative AI applications and provide comprehensive IT visibility and analytics.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 3:07 pm

NVDA

TSLA

Elon Musk announced that Tesla had no place to use Nvidia chips, which would have otherwise sat in a warehouse. However, the south extension of Giga Texas is almost complete and will house 50,000 H100s for FSD training.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 3:06 pm

RIOT

Riot Platforms Inc (NASDAQ:RIOT) reported a significant drop in Bitcoin production for May, down 68% year-over-year and 43% from April, due to reduced block rewards post-April halving. Despite this, the company increased its deployed hash rate by 39% year-over-year and held 9,084 bitcoins, up 26% year-over-year. Riot is progressing towards its 2024 hash rate growth targets with developments at its Corsicana and Rockdale facilities. JPMorgan analyst Reginald Smith maintained an Overweight rating but lowered the price target from $15.50 to $12.

Portfolio Pulse from Adam Eckert

June 04, 2024 | 3:04 pm

MELI

Financial giants have shown a bearish trend in MercadoLibre (NASDAQ:MELI) options trading, with 37% of traders bearish and 31% bullish. The trading volumes and open interest suggest a price band between $900.0 and $2120.0. Analysts have given mixed ratings, with an average target price of $2050.0.

Portfolio Pulse from Benzinga Insights

June 04, 2024 | 3:01 pm

FLYE

Fly-E Group, Inc (NASDAQ:FLYE) will start trading on June 5 on the NASDAQ exchange. The IPO price is expected to be between $4.00 and $5.00 per share, with an insider lock-up period ending on December 2, 2024. Fly-E Group is an EV company specializing in smart electric motorcycles, bikes, scooters, and related accessories.

Portfolio Pulse from Benzinga Insights

June 04, 2024 | 3:00 pm

CRPT

MSTR

STCE

MicroStrategy (NASDAQ:MSTR) shares are trading flat today. The company and its executive chairman Michael Saylor have settled a $40 million tax fraud lawsuit. MicroStrategy also announced enhancements to its Auto bot at MicroStrategy World 2024. The company holds significant digital assets, including 214,278 bitcoins, with a carrying value of $5.074 billion. Investors can gain exposure to MSTR via First Trust SkyBridge Crypto Industry And Digital Economy ETF (NYSE:CRPT) and Schwab Strategic Trust Schwab Crypto Thematic ETF (NYSE:STCE).

Portfolio Pulse from Nabaparna Bhattacharya

June 04, 2024 | 2:52 pm

HPE

Hewlett Packard Enterprise Co (NYSE:HPE) is set to report its Q2 earnings on June 4, with Wall Street expecting 39 cents in EPS and $6.83 billion in revenues. The stock has shown a 19.51% increase over the past year and 5.71% year-to-date. HPE is benefiting from the rising demand for AI and is diversifying through investments in networking capabilities, including the acquisition of Juniper Networks and the launch of HPE Aruba Networking Enterprise Private 5G. Despite economic concerns, technical analysis indicates a bullish trend for HPE stock in the near term.

Portfolio Pulse from Surbhi Jain

June 04, 2024 | 2:36 pm

AMZN

COST

TGT

UBER

WBA

WMT

Costco Wholesale Corporation (NASDAQ:COST) reported strong fiscal third quarter earnings, with revenue growing 9% YoY to $58.52 billion and e-commerce sales surging 20.7%. The company emphasized its value proposition, digital sales growth, and expanded partnership with Uber Technologies Inc (NYSE:UBER). Costco's strategy of lowering prices has helped it gain market share in a challenging retail environment. The company is also expanding its store footprint and has delayed raising membership prices to retain its growing member base.

Portfolio Pulse from Upwallstreet

June 04, 2024 | 2:32 pm

VKTX

Viking Therapeutics Inc (NASDAQ:VKTX) released 52-week histologic data from its Phase 2b VOYAGE study of VK2809 in patients with non-alcoholic steatohepatitis (NASH). The study achieved its primary and secondary endpoints, showing significant improvements in liver fat content, NASH resolution, and fibrosis improvement. VKTX shares are up 5.19% in premarket trading.

Portfolio Pulse from Vandana Singh

June 04, 2024 | 2:29 pm