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The Market Clubhouse Morning Memo provides daily trade strategies for SPY, QQQ, AAPL, MSFT, META, TSLA, GOOGL, and NVDA, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential support and resistance levels for each asset and suggests monitoring for breakouts or reversals. The session also includes economic data releases and advises traders to watch for volume changes and positioning trades ahead of the CPI announcement.

Portfolio Pulse from RIPS

January 09, 2024 | 4:10 pm

BMEA

Biomea Fusion, Inc. (NASDAQ:BMEA) presented at the 42nd Annual J.P. Morgan Healthcare Conference, highlighting clinical progress and 2024 milestones. The company expects to complete the Phase II COVALENT-111 study for type 2 diabetes and the open label portion of the Phase II COVALENT-112 study for type 1 diabetes in 2024. Biomea Fusion reported positive data from previous trials and has received regulatory clearance to proceed with studies. The company is also advancing its oncology assets, with anticipated completion of dose escalation in studies for liquid and solid tumors, and acute leukemias. Additionally, Biomea Fusion is developing its FUSION™ Platform technology.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:04 pm

PRCT

PROCEPT BioRobotics (NASDAQ:PRCT) has been analyzed by four analysts, showing a range of opinions from bullish to bearish. The average 12-month price target is $44.5, with a high of $50.00 and a low of $37.00, indicating a slight increase from the previous target of $44.00. Analysts from Wells Fargo and Truist Securities have raised their price targets, while Leerink Partners announced a new target. PROCEPT is a surgical robotics company with a focus on urology, and despite its revenue growth of 72.5%, it faces challenges with a net margin of -70.14% and an ROE of -10.82%.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 4:00 pm

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NVDA

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NVIDIA Corp (NVDA) stock experienced a breakout with higher volume, contributing to a 320% gain for The Arora Report members who bought at an average price of $125.51. Announcements from NVDA and Advanced Micro Devices, Inc. (AMD) about new AI chips have spurred a buying frenzy in AI and tech stocks. NVDA's GeForce RTX SUPER desktop GPUs for AI desktops can now be exported to China. The market is also anticipating key inflation data with CPI and PPI reports due later this week. European markets are facing pressure, and early trade money flows are positive for NVDA but negative for other tech giants. The momo crowd is actively buying stocks and oil, while smart money activity is undisclosed. Bitcoin has surged above $47,000 on expectations of ETF approval. The Arora Report advises investors to maintain a balance of cash, hedges, and investments to capitalize on new opportunities.

Portfolio Pulse from The Arora Report

January 09, 2024 | 3:58 pm

BABA

NVDA

QQQ

TCEHY

Nvidia Corp (NASDAQ:NVDA) announced new AI-enhanced graphics chips at the CES trade show, including the GeForce RTX 4080 Super, which led to a stock price increase of over 6%. The chips will be competitively priced and improve PC gaming experiences. Despite a downturn in PC shipments, Nvidia's market performance remains strong, with a valuation over $1 trillion. The new products comply with U.S. export regulations, avoiding the impact of AI-related chip export limits to China. However, U.S. sanctions have led Chinese cloud companies like Alibaba Group Holding Limited (NYSE:BABA) and Tencent Holding Ltd (OTC TCEHY) to seek local alternatives, potentially reducing their reliance on Nvidia's chips from 80% to 50%-60% within five years. Nvidia's stock outperformed Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) last year, gaining 235% compared to QQQ's 50%.

Portfolio Pulse from Anusuya Lahiri

January 09, 2024 | 3:58 pm

CELZ

Creative Technology Corporation has been granted U.S. Patent #11866281 for an electrostatic adsorption body. This patent could potentially enhance the company's intellectual property portfolio and provide a competitive edge in its market segment. The news may positively influence investor sentiment and the company's future business prospects.

Portfolio Pulse from Charles Gross

January 09, 2024 | 3:49 pm

COIN

Coinbase Global (NASDAQ:COIN) has seen significant options trading activity, with an even split between bullish and bearish sentiment among traders. Analysis of 18 unusual trades revealed 7 puts and 11 calls, with a focus on a price range between $60 and $280. The largest options spotted include both bullish and bearish trades with various expiration dates and strike prices. Coinbase is a leading cryptocurrency exchange platform, and its stock is currently trading at $159.99 with a slight increase of 0.36%. Analysts have issued mixed ratings for COIN, with a consensus target price of $144.67. The company is expected to announce earnings in 42 days.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 3:16 pm

DGII

SparkFun has become a Value-Added Reseller (VAR) for Digi International, launching a series of development boards featuring Digi XBee modules. These boards are designed to support cellular IoT integration from sensor to cloud and are complemented by MicroPython libraries for SparkFun's Qwiic Sensors. The collaboration aims to simplify IoT project development and accelerate time-to-market, with both companies committed to providing resources for developers, including pre-certified modules and educational content.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:16 pm

BMWYY

BMW Group has achieved a new record high in vehicle sales with 2.56 million units in 2023, marking a 6.5% year-over-year increase. The company's BEV sales reached the target of 15%, with significant growth across all regions. The BMW brand grew by 7.3% with 2.25 million vehicles delivered globally. In Q4 2023, BMW Group delivered 129,316 fully-electric vehicles, a 47.7% increase. BMW led the global premium segment in 2023, with electric models growing by 92.2%. The company aims to sell over half a million EVs in 2024. BMWYY shares dropped by 0.81% to $36.79.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 3:11 pm