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Micron Technology, Inc. has announced the release of its Micron 3500 NVMe SSD, which uses advanced 232-layer NAND technology to improve performance in various PC applications including business, scientific computing, gaming, and content creation. The SSD offers up to 2TB capacity and superior user experience, with a 132% improvement in scientific computing benchmarks. It also supports DirectStorage for faster game load times and enhances file loading and editing for high-resolution video content creators.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 6:14 pm

CHWY

BofA analyst Curtis Nagle maintained an Underperform rating on Chewy, Inc (CHWY) with a price target of $16. Nagle's projections for Chewy's 3Q23 earnings are slightly above consensus for revenue but below for EBITDA. He reduced 4Q estimates based on weak credit and debit card data and expects customer net adds to remain negative. Long-term growth is anticipated from industry trends, fulfillment investments, and pet health segment expansion. However, near-term expectations are cautious with no significant new revenue drivers or cost reductions foreseen. The company's focus on Pet Health is expected to be a key topic at the upcoming Investor Day. CHWY shares have dropped 48.1% year-to-date and were down 1.74% at last check.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 6:03 pm

ETHUSD

On Monday, 10,117.98 Ether (ETH) valued at $23.1M was burned due to the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -12.68% for Ether, indicating a deflationary trend, especially with the upcoming Ethereum 2.0 upgrade that is expected to further reduce the issuance rate to 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:00 pm

LSCC

Lattice Semiconductor (NASDAQ:LSCC) announced the expansion of its product portfolio at the Lattice Developers Conference. The company introduced two new FPGA device families, Lattice Avant-G and Lattice Avant-X, and updated its application-specific solution stacks and software tools. The new FPGAs are designed for general purpose and advanced connectivity, targeting various markets including Communications, Computing, Industrial, and Automotive. Lattice also updated its solution stacks for AI, embedded vision, security, and factory automation, as well as its software tools Propel and Radiant, and Glance by Mirametrix computer vision software. These products are now sampling and supported by the latest software releases.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:38 pm

AAPL

AMZN

GOOGL

MUSQ

SONY

SPOT

Apple Inc's (AAPL) stock surged over 2.5% on Tuesday, contributing to the S&P 500's stability despite Moody's downgrade of China's credit outlook. Technical analysis suggests AAPL could reach new highs if a Santa Rally occurs. The MUSQ Global Music Industry ETF (MUSQ), which holds AAPL, is also showing a bullish pattern. Apple's services division, including Apple Music, reported strong Q4 earnings. The music streaming industry is booming, with a projected value of $151.4 billion by 2030. MUSQ seeks to capitalize on this growth, with top holdings including AMZN, AAPL, GOOGL, SONY, and SPOT.

Portfolio Pulse from Melanie Schaffer

December 05, 2023 | 5:27 pm

OPTX

Syntec Optics, a manufacturer of optics and photonics products, has announced the launch of a new line of microlens arrays for fiber optics coupling, targeting a $43B photonics-enabled communications market. These arrays are designed for a blue-chip customer and are expected to offer higher production volume, performance, and reliability. The first order is set for delivery in Q1 2024, with more orders anticipated. Syntec Optics is expanding its product portfolio, which already includes defense, biomedical, and consumer end-markets, and has entered the space economy with satellite optics now in full production.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:15 pm

ALLR

CMND

DBI

IBIO

MFH

REPL

U.S. stocks were mixed with the Dow Jones falling 100 points and the NASDAQ rising. Consumer discretionary shares were up, while materials shares dipped. The ISM services PMI increased to 52.7 in November, exceeding estimates. Clearmind Medicine, Allarity Therapeutics, and Mercurity Fintech Holding saw stock price increases due to positive company news. Conversely, Replimune Group, iBio, and Designer Brands experienced significant stock price drops following negative announcements. Oil and gold prices were up, while silver and copper declined. European shares were mostly higher, and Asian markets closed mostly lower. U.S. job openings decreased, and the Economic Optimism Index fell.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 5:11 pm

PCAR

PACCAR Inc has declared an extra cash dividend of $3.20 per share, payable on January 4, 2024, to stockholders of record as of December 15, 2023. The company's strong performance in premium quality vehicles, aftermarket parts, financial services, and technology has enabled this shareholder return. Investments continue in new trucks, powertrain technologies, connected services, and advanced manufacturing and distribution.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:10 pm

MARA

Marathon Digital Holdings' stock is trading higher after the company released its November mining update. The rise in stock price is also attributed to the ongoing surge in Bitcoin prices, which has positively affected crypto-related stocks.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:05 pm

SMSI

Smith Micro Software's stock is trading higher following the announcement of a multi-year agreement to supply its SafePath Digital Family Lifestyle solution to a major Tier 1 mobile network operator in Europe.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:56 pm