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AMD

NVDA

SOXX

SPY

TSM

Goldman Sachs upgraded Nvidia's 12-month price target to $1,100 from $1,000, maintaining a 'Buy' rating, citing increased earnings projections for 2025-2027 and Nvidia's dominance in AI servers. Nvidia outperformed the market, with an 86% increase year-to-date, compared to gains by SOXX and SPY. The firm's updated fiscal year 2026 non-GAAP EPS estimate is 35% above Street consensus. Upcoming products and strong demand in AI-related computing are expected to drive Nvidia's growth. Competitors like AMD are advancing, but Nvidia is seen as the AI industry standard. Major U.S. hyperscalers are increasing AI-related capital expenditures.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 1:27 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has announced its agreement to acquire MyVONIA, an AI assistant technology, with the purchase price consisting of up to 500,000 shares of SGD restricted common stock. The acquisition, expected to close in Q2 2024, will integrate MyVONIA's machine learning and natural language processing capabilities into SG Devco's operations, specifically into the Xene AI Real Estate Platform. This move aims to enhance user experience, streamline processes, and provide valuable recurring revenue.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:26 pm

DIS

NFLX

Disney's CEO announced during a conference call that the company is now considering licensing content to Netflix with a more open mind. Additionally, Disney is exploring other selective licensing opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:25 pm

APO

BLCR

PARA

SONY

WBIL

Sony Group Corp (NYSE:SONY) and Apollo Global Management Inc (NYSE:APO) have jointly bid $26 billion for Paramount Global (NASDAQ:PARA), causing Sony's shares to drop significantly. The deal raises concerns about Sony's financial capacity and the strategic fit, given it exceeds Sony's cash reserves and involves a substantial premium. The acquisition could face regulatory scrutiny, especially regarding the CBS channel. Meanwhile, Sony is focusing on its Bravia line to compete in the streaming market, where Netflix Inc (NASDAQ:NFLX) and Walt Disney Co (NYSE:DIS) are major players. PARA stock has lost 22% in the last 12 months, while SONY gained 3%. Investors can gain exposure to SONY through WBI BullBear Quality 3000 ETF (NYSE:WBIL) and BlackRock Large Cap Core ETF (NASDAQ:BLCR).

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 1:25 pm

IAC

MSFT

Dotdash Meredith (DDM), America's largest digital and print publisher, has entered into a strategic partnership and licensing agreement with OpenAI to enhance ChatGPT with content from DDM's 40+ media brands, including PEOPLE and Better Homes & Gardens. This collaboration will also involve the development of new AI products and the enhancement of DDM's cookieless ad targeting solution, D/Cipher, with AI capabilities. The partnership aims to provide ChatGPT users with trusted content and improve ad performance for advertisers by leveraging OpenAI's technology.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:24 pm

TRC

Tejon Ranch Co. (TRC) anticipates an increase in almond industry crop production for 2024, which may negatively impact the selling prices of almonds next year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:23 pm

VRNS

Varonis Systems, Inc. (NASDAQ:VRNS) has introduced prompt monitoring to its Microsoft 365 Copilot security offering, enhancing its data security platform. This feature enables security teams to investigate risky AI interactions, including prompt hacking, within Microsoft 365 environments. Varonis leverages machine learning for user behavior profiling and anomaly detection, and offers additional support through its Athena AI assistant and Managed Data Detection and Response service. As a top-tier Microsoft partner, Varonis aims to facilitate the secure adoption of Microsoft 365 Copilot for organizations, which can also request a free Data Risk Assessment via the Azure Marketplace.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:21 pm

DIS

Walt Disney Co (NYSE:DIS) reported Q2 earnings with a slight revenue miss at $22.08 billion versus the expected $22.11 billion, but beat EPS estimates with $1.21 against $1.09 consensus. Entertainment revenue fell by 5%, while Experiences segment grew by 10%. Disney+ and Hulu reported their first quarterly profit, contributing to a 17% increase in operating income to $3.8 billion. Disney+ password-sharing crackdown is set to begin next month. Despite these gains, DIS shares dropped 7.61% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 1:21 pm

MULN

Mullen Automotive, Inc. (NASDAQ: MULN) announces its subsidiary, Bollinger Motors, has partnered with Amerit Fleet Solutions to provide mobile service and maintenance for Bollinger's commercial EV fleet customers. The agreement covers EV service and warranty support for the Bollinger B4 and future vehicles in key states. Amerit will offer maintenance and repair services outside Bollinger's authorized dealer service areas, enhancing nationwide coverage and fleet efficiency. This partnership follows Bollinger Motors' recent strategic moves, including partnerships for battery supply and vehicle assembly, expansion of its dealer network, and qualification for federal clean vehicle tax credits.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:20 pm

SABR

Sabre Corporation has entered into a strategic partnership with Taiba Investments to implement the SynXis Platform across various brands within Taiba's portfolio. This collaboration aims to enhance the distribution capabilities and optimize revenue streams for Taiba's hospitality brands by leveraging Sabre's innovative technology solutions.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:18 pm