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AAPL

GOOG

META

SOCL

SPMO

Meta Platforms Inc (NASDAQ:META) has reduced the subscription fee for ad-free Facebook and Instagram in Europe to 5.99 euros, down from 9.99 euros, in response to EU privacy laws and the Digital Markets Act (DMA). This move aims to address concerns from privacy activists and antitrust regulators. The company is adapting to the DMA, which restricts personalized ads without user consent. Meta's pricing strategy seeks a balance between EU regulations and providing value. The EU has also targeted other Big Tech companies, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Apple Inc (NASDAQ:AAPL), for their market practices. META stock is down 0.74% at $493.42. Investors can also gain exposure to META through Global X Social Media ETF (NASDAQ:SOCL) and Invesco S&P 500 Momentum ETF (NYSE:SPMO).

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:27 pm

ARBE

NVDA

Arbe Robotics announced its excitement about being part of the NVIDIA sensor ecosystem, highlighting a significant partnership in the tech and automotive sectors.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:21 pm

BABA

EBIZ

INTC

ONLN

Alibaba Group Holding Limited (NYSE:BABA) is set to unveil the C930, the latest RISC-V processor from its Damo Academy, as part of its strategy to navigate U.S. trade restrictions. The announcement was made at the XuanTie Partner Conference, highlighting the processor's applications in 5G, robotics, and financial services. Additionally, Alibaba introduced an open-source laptop, Ruyi Book, showcasing its commitment to RISC-V technology. The move reflects a broader shift towards RISC-V architecture as an alternative to traditional chip technologies, with Alibaba forming the "Wujian Alliance" to promote RISC-V commercialization. BABA stock has seen a 10% decline last year but traded higher by 0.16% recently.

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:21 pm

AMD

NVDA

Goldman Sachs has raised its price target for Nvidia (NVDA) to $1,000, citing the company's innovative next-generation Data Center GPU platform, Blackwell, and its potential to significantly accelerate AI training and inference capabilities. The bank's optimism is further supported by Nvidia's expanding partnerships and its role in the generative AI infrastructure build-out. Additionally, the developments are seen as positive for Micron Technologies (MU) due to expected increases in memory density, while posing challenges for Advanced Micro Devices (AMD) to keep pace with Nvidia's innovation.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 5:17 pm

OUT

OUTFRONT Media has expanded its programmatic capabilities in transit advertising, enabling advertisers to reach millions via liveboards in MTA's subway stations across New York City, Long Island, and Metro-North Railroad systems.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 5:14 pm

HOTH

Hoth Therapeutics Inc (NASDAQ:HOTH) reported positive preclinical research results for HT-ALZ, an Alzheimer's disease therapeutic, causing its stock to trade higher. The research highlighted HT-ALZ's potential in reducing neuroinflammation and cognitive deficits associated with Alzheimer's Disease by targeting the Substance P/Neurokinin 1 Receptor pathway. Despite inconclusive effects on plaque deposition and Aβ levels, the treatment showed significant cognitive benefits. The full study will be published later this year, with results to be presented at an Alzheimer's Research Center group at Washington University in St Louis.

Portfolio Pulse from Vandana Singh

March 19, 2024 | 5:01 pm

UNH

UnitedHealth Group (NYSE:UNH) has taken significant steps to mitigate the impact of a cybersecurity breach at its Change Healthcare technology arm, including disbursing over $2 billion in advance payments to support healthcare providers. The company is actively working to restore services, with new medical claims preparation software launched and services to be reinstated in phases. The Biden administration has urged UnitedHealth to help stabilize the U.S. health system, and the company has suspended certain authorizations to assist care providers. Following the cyberattack, UnitedHealth's Change Healthcare pharmacy network is now operational, with major systems up and nearly all pre-incident claim volume restored. The U.S. Department of Health and Human Services is investigating the cyber-attack.

Portfolio Pulse from Vandana Singh

March 19, 2024 | 4:58 pm

CVX

XLE

XOM

U.S. energy stocks, particularly those within the Energy Select Sector SPDR Fund (XLE), have rallied 16% from January 2024 lows, outperforming all S&P 500 sectors over the past month. This surge is attributed to a 15% year-to-date increase in oil prices and a 16% rise in natural gas prices. Despite this, Wall Street analysts have not significantly revised price targets or earnings forecasts for these stocks, including Exxon Mobil Corp. (XOM), which has seen its median price target slightly decline. The sector's performance is bolstered by strong seasonality in March and April, and technical indicators suggest a bullish outlook with a potential golden cross signal. Chevron Corp (CVX) also typically sees high returns in April, aligning with the sector's historical performance.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 4:43 pm

NVDA

NVIDIA Corp's CEO, Jensen Huang, emphasized at the GTC2024 event that Nvidia is more than a chipmaker, focusing on accelerated computing. He highlighted the potential of AI to transform industries, valuing the opportunity at $100 trillion. Nvidia announced its next-generation Blackwell GPU, aiming to revolutionize computing efficiency and reduce energy usage. Despite a year-to-date stock increase of 75%, NVDA shares were down 2.27% at the time of publication.

Portfolio Pulse from Adam Eckert

March 19, 2024 | 4:39 pm

COCH

Envoy Medical has been granted a European patent (EP3858425) for an 'Implantable Modular Cochlear Implant System With Communication System And Network'. This development could enhance Envoy Medical's product offerings in the European market, potentially leading to increased market share and revenue from sales of this advanced cochlear implant system.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:36 pm