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CELU

CMPR

NRBO

PTON

REVB

VLCN

U.S. stocks traded higher with the S&P 500 gaining 0.5%. Consumer staples shares rose by 1.4%, while financial shares fell by 0.9%. ISM manufacturing PMI rose to 49.1, the highest since Oct. 2022. Cimpress, NeuroBo Pharmaceuticals, and Celularity saw significant stock price increases following positive announcements. Conversely, Revelation Biosciences, Peloton Interactive, and Volcon experienced notable declines.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 5:04 pm

ENPH

Roth MKM has maintained its Buy rating for Enphase Energy (NASDAQ:ENPH) but lowered its price target from $150.00 to $140.00. Despite this, shares of Enphase Energy have risen 2.41% in the last 24 hours to $106.64. The new price target suggests a potential 31.28% increase from the current share price. Enphase Energy is a global energy technology company focusing on solar generation, storage, and communication solutions, with the majority of its revenue coming from the United States.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:00 pm

IONS

JP Morgan has maintained its Neutral rating for Ionis Pharmaceuticals (NASDAQ:IONS) but raised its price target from $52.00 to $55.00. Ionis Pharmaceuticals, a leader in antisense technology for drug development, has seen its shares increase by 0.62% in the last 24 hours to $51.71. The new price target represents a 6.36% potential upside. Ionis has successfully brought several drugs to market, including treatments for spinal muscular atrophy and ALS, through partnerships and its subsidiaries.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:00 pm

PTC

Rosenblatt has reaffirmed its Buy rating on PTC (NASDAQ:PTC), increasing the price target from $166.00 to $195.00. Despite a recent 2.02% decline in PTC's stock price to $177.00, the new target suggests a potential 10.17% upside. PTC specializes in high-end CAD and PLM software, along with IoT and AR solutions, primarily serving North America and Europe.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:00 pm

BTI

MO

PM

The FDA has issued warning letters to 14 online e-cigarette retailers for selling unauthorized vaping products. This action is part of the FDA's ongoing efforts to regulate the e-cigarette market and protect consumers, especially minors, from the dangers of vaping. The companies involved are not directly named, but the article hints that major tobacco companies like British American Tobacco (BTI), Altria Group (MO), and Philip Morris International (PM) may be indirectly affected due to their investments in the vaping industry.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:58 pm

GOOG

MSFT

NVDA

Microsoft Corporation (NASDAQ:MSFT) reported strong quarterly results, with revenue and net income surpassing analyst expectations, driven by significant growth in its Azure cloud service. In contrast, Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) disappointed with lower-than-expected holiday-season advertising sales. Microsoft's success in AI, highlighted by its partnership with ChatGPT-maker OpenAI and the use of its AI tools by major corporations, has contributed to its stock's rise. Microsoft, along with other tech giants, has significantly influenced market performance, with Microsoft and Nvidia Corporation (NASDAQ:NVDA) accounting for a substantial portion of the S&P 500's gains.

Portfolio Pulse from Upwallstreet

February 01, 2024 | 4:41 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for February 1st, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA based on a proprietary formula. It outlines potential bullish and bearish price levels for each asset, influenced by price, volume, and options flow. The memo also highlights the importance of upcoming employment data, PMI numbers, and a Bill Auction, suggesting these could impact market volatility and trading decisions. The memo is part of exclusive content offered to Market Clubhouse members, providing insights and real-time mentorship from a pro trader known as RIPS.

Portfolio Pulse from RIPS

February 01, 2024 | 4:25 pm

META

NVDA

NVIDIA shares are being closely monitored following reports that Meta is developing a new version of its custom AI chip for data centers, aiming to reduce its dependence on NVIDIA's technology.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:20 pm

META

Meta plans to deploy a new version of its custom AI chip in data centers this year, aiming to enhance its computing capabilities and efficiency. This move underscores Meta's commitment to advancing its AI infrastructure, potentially reducing reliance on external chip suppliers and optimizing operational costs.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:18 pm

XLB

The U.S. manufacturing sector showed signs of resurgence in January, with the S&P Global US Manufacturing PMI and the ISM Manufacturing PMI both indicating a robust rebound in new orders and rising costs of raw materials. This recovery, however, could contribute to inflationary pressures due to increased prices for raw materials. The Materials Select Sector SPDR Fund (XLB) saw a slight increase in its trading price amidst these developments.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 4:04 pm