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GOOGL

LCID

Lucid Group Inc (LCID) is in a trademark dispute with Gravity Technologies, backed by Alphabet Inc (GOOG, GOOGL), over the name of its Gravity SUV. Gravity Technologies, which operates EV charging stations and previously ran an electric taxi fleet, filed a petition for cancellation against Lucid's vehicle trademark, citing potential consumer confusion. Lucid, facing a significant stock decline and reduced production estimates, is fighting the petition, despite the potential high costs and impact on its trademarks.

Portfolio Pulse from Chris Katje

March 12, 2024 | 7:38 pm

NVDA

NYCB

Citadel's Ken Griffin revealed that his hedge fund invested in New York Community Bancorp (NYCB) earlier this month, citing the investment was made because the price was right. Additionally, Griffin commented on the artificial intelligence (AI) sector, noting that while it's uncertain where we are in the journey of AI, Nvidia (NVDA) appears to be leading the field.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:38 pm

ENPH

FSLR

NOVA

RUN

SEDG

Solar stocks are trading lower after a Bloomberg report indicated that US solar factories might not be constructed due to cheaper imports from China, rendering subsidies insufficient.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:35 pm

MSFT

SONY

Former PlayStation executive Shawn Layden highlighted the financial risks of exclusivity for video games with budgets over $200M, advocating for broader releases to maximize player base and revenue. Microsoft Corp. and Sony Group Corp. are moving towards releasing some exclusive titles on rival platforms, reflecting a shift in strategy to adapt to the high costs of game development and the need to reach a wider audience. Peter Moore, a former Xbox executive, also supported this view, suggesting that releasing exclusive titles on rival platforms could significantly increase intellectual property value.

Portfolio Pulse from Franca Quarneti

March 12, 2024 | 7:05 pm

FTXL

PSI

Wedbush analyst Matt Bryson maintained Micron Technology Inc (NASDAQ:MU) with an Outperform rating and raised the price target from $95 to $103, citing strong DRAM and NAND pricing. Micron is expected to exceed its initial guidance for the quarterly earnings report on March 20, due to higher retail, spot, and forward contract prices. Bryson predicts DRAM contract Average Selling Prices (ASPs) to increase by nearly 20% in Q1, with NAND contracts performing even stronger. Despite a cautious outlook for the second half of the year, Micron's fiscal 2025 EPS estimates have been modestly increased. Micron's advancements in High Bandwidth Memory (HBM) and its competitive position in DRAM and NAND technologies suggest a strong outlook. Invesco Semiconductors ETF (NYSE:PSI) and First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) are mentioned as ways to gain exposure to Micron.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:58 pm

AAPL

B of A Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (NASDAQ:AAPL) with a $225 price target, highlighting Apple's effective pricing strategy and services as key drivers of market growth. Apple has expanded its iPhone price range significantly since 2007, catering to both premium and lower segments, which has helped grow its installed base to 1.2 billion in 2023. Despite a decline in unit sales, particularly in China, Apple has increased its market share and dominates the premium segment. The used iPhone market also contributes to Apple's ecosystem, with a notable increase in services revenue per device from $50.59 in 2019 to $73.01 in 2023. Mohan projects Apple's fiscal 2024 revenue at $396.24 billion, above the consensus of $388.05 billion.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:52 pm

ANAB

LLY

AnaptysBio Inc (NASDAQ:ANAB) reported a Q4 2023 EPS of $(1.59), slightly better than expected, and sales of $9.01 million, surpassing forecasts. With $417 million in cash, it's set to last through 2026. Wedbush upgraded ANAB from Neutral to Outperform with a $34 target, citing upcoming clinical triggers. Meanwhile, Eli Lilly (NYSE:LLY) showed mixed results for peresolimab, suggesting an opportunity for ANAB's rosnilimab.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 6:48 pm

AVAXUSD

Avalanche (AVAX) is trading higher by 11.5% at $53.51, influenced by Bitcoin's new all-time high of $72,000. The rise in Bitcoin's price attracts new investors to the cryptocurrency market, benefiting altcoins like Avalanche. Avalanche's innovative consensus mechanism and scalability focus contribute to its positive performance. Increased attention and funding for projects on Avalanche could further enhance its value.

Portfolio Pulse from Henry Khederian

March 12, 2024 | 6:44 pm

DLTR

Dollar General Corp (NYSE:DG) is anticipated to report Q4 earnings with an expected revenue of $9.78 billion and EPS of $1.75, compared to last year's $10.2 billion and $2.96 respectively. Analysts highlight the potential impact of SNAP benefits changes and inflation on consumer behavior. JPMorgan upgraded DG from Underweight to Neutral with a price target of $158, citing improved store standards and customer service. Goldman Sachs notes DG's prices are about 5% lower than Family Dollar (NASDAQ:DLTR), potentially influencing consumer choice. The company's 'Back to Basics' strategy and its own private fleet development are also focal points.

Portfolio Pulse from Chris Katje

March 12, 2024 | 6:39 pm

BTDR

B. Riley Securities analyst Lucas N. Pipes initiated coverage on Bitdeer Technologies Group (NASDAQ:BTDR) with a Buy rating and a $9 price target. Bitdeer, with operations in the U.S., Norway, and Bhutan, has reduced electricity costs significantly, benefiting from carbon-free power. The company is expanding in Norway and is expected to launch its first-generation BTC mining chip in Q4 FY24. Pipes estimates EBITDA and EPS of $171.6 million and $0.01, respectively, for FY24. BTDR shares are currently down 1.92% at $6.21.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 6:27 pm