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U.S. stocks showed mixed performance with tech leading due to AI optimism. Labor data indicated a strong job market. Fed's Bostic suggested rate cuts could start in Q3 if inflation slows. The dollar and Treasury yields rose, while bonds and Bitcoin fell. Oil prices increased after the IEA raised its demand forecast. Major indices and ETFs had varied results, with tech and semiconductors gaining, while utilities and real estate declined. Notable stock movements included NovoCure, Hertz, Tesla, and various chipmakers, while Discover Financial and KeyCorp dropped after earnings misses.

Portfolio Pulse from Piero Cingari

January 18, 2024 | 7:22 pm

BRY

Berry Corporation (BRY) has estimated that its total production for the year 2023 will be approximately 23,500 barrels of oil equivalent per day.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:14 pm

DOGE-USD

XRP-USD

At the WEF meeting in Davos, a crypto panel including Ripple CEO Brad Garlinghouse and Grayscale CEO Michael Sonnenshein discussed the need for regulatory clarity in the cryptocurrency industry. They expressed optimism for the industry's future, citing the approval of Spot Bitcoin ETFs as a significant milestone. The panel rejected the value of meme coins like Dogecoin and emphasized the importance of CBDCs and regulated stablecoins. The SEC was criticized for its slow response to crypto regulation, and the panel called for harmonization of regulations to prevent arbitrage.

Portfolio Pulse from Ivan Crnogatić

January 18, 2024 | 7:07 pm

MGM

BetMGM has launched a new commercial featuring sports legends Tom Brady and Wayne Gretzky, as well as actor Vince Vaughn. The commercial aims to promote BetMGM's brand and offerings in the sports betting market.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:05 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) stock is trading lower, down over 17% in the past five days. Deutsche Bank downgraded Rivian from Buy to Hold and lowered its price target from $29 to $19, citing expected volume guidance of only 65,000 units, factory shutdowns, and a slow ramp-up leading to potential heavy losses through Q3 2024. Rivian also announced the availability of its R1S electric SUV for leasing. The stock is trading below its 50-day moving average, and a high percentage of shares are being sold short, contributing to volatility. Analysts rate Rivian as Neutral, with Deutsche Bank's Emmanuel Rosner being the most bearish.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 6:34 pm

ARGX

HALO

Halozyme Therapeutics Inc (NASDAQ:HALO) provided its first five-year financial guidance, projecting revenue growth and increased EPS through 2028. For 2023, Halozyme expects revenues slightly below consensus but higher EPS. By 2028, revenues are forecasted to reach $1.565-$1.69 billion. HC Wainwright remains optimistic, despite lowering the price target for Argenx SE (NASDAQ:ARGX) from $61 to $48, maintaining a Buy rating. Analysts see potential in Halozyme's Enhanze platform and anticipate new partnerships. The U.S. infusion therapy market, where Enhanze could grow, is valued at $41.7 billion. HALO shares dropped 4.66% to $34.36.

Portfolio Pulse from Vandana Singh

January 18, 2024 | 6:28 pm

GOOG

MSFT

NYT

At the World Economic Forum in Davos, OpenAI CEO Sam Altman discussed the future of AI, highlighting the capabilities of the upcoming GPT5 model. He emphasized the importance of productization as AI becomes more integrated into daily life. Microsoft Corp has partnered with OpenAI and is launching an AI assistant service subscription. Alphabet Inc announced that new Samsung devices with Android will include its AI engine, Gemini. The New York Times Co is suing OpenAI and Microsoft over copyright infringement claims.

Portfolio Pulse from Natan Ponieman

January 18, 2024 | 6:19 pm

SHAK

Analyst comments indicate that Shake Shack has increased delivery menu prices by approximately 5%, leading to an overall 1% increase in their total menu price. This move is expected to help drive margin expansion for the company in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:18 pm

Eni has signed multiple strategic agreements with Kazakh companies during President Tokayev's visit to Italy. A Joint Confirmation agreement for a 250 MW Hybrid Renewables-Gas Project in Kazakhstan was signed with KMG. Additionally, a Memorandum with Samruk-Kazyna on energy transition projects and a Cooperation Agreement with QazaqGaz were established. These agreements aim to supply low-carbon electricity, replicate the hybrid model, and reduce carbon emissions in gas operations.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:13 pm

STLA

TSLA

Deputy Press Secretary Dalton has announced that the White House is investigating reports of electric vehicles (EVs) not charging properly in cold weather conditions. This issue could potentially affect consumer confidence and the adoption rate of EVs, which are central to the administration's policy on reducing carbon emissions.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:04 pm