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MUSQ

SONY

Kanye West has installed $850K permanent titanium dentures and filmed a 40-minute apology video ahead of his new album 'Vultures' with Ty Dolla $ign. The album's release date is set for February 9th, after being delayed twice. West lost his deals with Universal Music Group and Sony Music following anti-Semitic comments last year. The MUSQ Global Music Industry ETF, which includes SONY and UMG, offers exposure to the music industry.

Portfolio Pulse from Johnny Rice

January 19, 2024 | 9:26 pm

WMT

Walmart Inc. is closing its Store No. 8 innovation unit, which was established to incubate new ideas and help the retailer catch up with Amazon's online business. The closure is part of Walmart's efforts to reduce costs and explore new ways to test technology. Store No. 8 was launched seven years ago following Walmart's acquisition of Jet.com for $3.3 billion, with Jet.com's founder Marc Lore leading Walmart's e-commerce operations.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:53 pm

FOXO

FOXO Technologies Inc. has entered into a Master Software and Services Agreement with KR8 AI Inc. to use and develop an AI machine learning app based on FOXO's epigenetic biomarker technology. The agreement includes an initial fee of $2.5M, a monthly maintenance fee of $50K, and a 15% royalty on Subscriber Revenues. The agreement is limited to the U.S., Canada, and Mexico, and has provisions for termination under certain conditions, including material breaches and insolvency events.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:50 pm

FVRR

Goldman Sachs analyst Eric Sheridan upgraded Fiverr International Ltd (NYSE:FVRR) from Neutral to Buy with a $43 price target, citing revenue re-acceleration in 2024, macro stabilization, spend per buyer growth, international progress, and adoption of Promoted Listing & Seller Plus. Sheridan also noted improvements in profitability, marketing efficiency, and AI-driven product innovation. He projected Q4 revenue and EPS above consensus at $94.8 million and $(0.06) respectively. FVRR shares rose 5.36% to $26.03.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 8:41 pm

SQNXF

Square Enix Holdings Co Ltd (OTC:SQNXF) is shifting its game development strategy to focus on quality over quantity, with plans to release fewer titles across a more diverse range of genres. President Takashi Kiryu acknowledged the company's overreliance on RPG franchises and the need to adapt to changing gamer preferences, such as the success of casual games like Powerwash Simulator. Square Enix aims to enhance internal development and is open to acquisitions to improve game quality. The company is also investing in AI and blockchain technology, with key releases like Foamstars, Visions of Mana, and remakes of Dragon Quest 3 and Dragon Quest 12 slated for 2024.

Portfolio Pulse from Franca Quarneti

January 19, 2024 | 8:31 pm

AAL

DAL

HLT

LULU

LUXX

MAR

MGM

UAL

WYNN

China's overseas travel has not fully recovered post-pandemic, with outbound airline capacity at 60% of 2019 levels. This has resulted in a $129 billion reduction in global tourism revenue. U.S. flights to Asia are also affected by the inability to fly over Russia. Bank of America analysts predict a strong recovery in 2024 for Chinese international travel. Delta Air Lines beat Q4 forecasts but trimmed its 2024 outlook, while American Airlines, United Airlines, and other airline stocks saw declines in January. Hotel groups like MGM Resorts, Marriott International, and Hilton Hotels have fared better, with some stocks hitting new highs. Luxury goods are impacted, with the Roundhill S&P Global Luxury ETF and companies like Estee Lauder and Lululemon experiencing declines.

Portfolio Pulse from Neil Dennis

January 19, 2024 | 8:26 pm

JNJ

The FDA has granted full approval to Johnson & Johnson's (JNJ) drug BALVERSA for the treatment of locally advanced or metastatic bladder cancer with specific genetic alterations. This marks a significant milestone for JNJ in the oncology market.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:24 pm

TEF

Telefonica SA (NYSE:TEF) has acquired broadcasting rights for Spain's premier football league matches for $1.4 billion, starting with the 2024-2025 season. The deal covers five games per match-day across three seasons. Telefonica's strategy includes integrating football into its pay-TV packages to retain premium users. The company recently gained exclusive Spanish broadcasting rights for the UEFA Champions League and plans to stabilize Spanish earnings in H2 2023. Telefonica also announced a workforce reduction of about 5,100 jobs by 2026. TEF shares rose by 0.74% to $4.11.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 8:15 pm

DATS

MARA

NIO

PLUG

UNH

Benzinga's Stock Whisper Index highlights five stocks: UnitedHealth Group (UNH) with mixed analyst reactions post-earnings, Plug Power Inc (PLUG) facing pressure after announcing a $1 billion share offering, Marathon Digital Holdings (MARA) upgraded by BTIG with a new price target, DatChat Inc (DATS) planning a spinoff and suffering from a public offering, and Nio Inc (NIO) affected by Tesla's price cuts and Chinese market developments. The index provides insights into stocks that are gaining interest but are not widely discussed yet.

Portfolio Pulse from Chris Katje

January 19, 2024 | 8:10 pm

NVDA

Raymond James analyst Srini Pajjuri has maintained a Strong Buy rating on Nvidia Corp (NASDAQ:NVDA) and increased the price target from $600 to $700. Pajjuri highlights Nvidia's unchallenged position in Gen AI infrastructure and anticipates strong double-digit revenue growth. The growth is expected from new GPU ramps and expansion into restricted markets like China. Despite potential risks from customer spending pauses and competition, the analyst believes Nvidia's software moat and AI demand will minimize impact. Nvidia's PC Gaming business is strong, and expansion into ARM PC processors is likely. The analyst projects FY23 revenue and EPS at $58.83 billion and $11.08, respectively, and notes the valuation already accounts for a potential digestion period. NVDA shares were up 3.43% at $590.65.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 8:04 pm