Streetbeat News

Products Services

MSFT

Sam Altman, CEO of OpenAI, reaffirmed the commitment to OpenAI's continuity of operations for partners and customers, emphasizing the strength of the partnership with Microsoft (MSFT) to achieve this goal.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 7:45 pm

TSLA

Tesla Inc. (NASDAQ: TSLA) has released a new advertisement for the Cybertruck at their San Diego store, emphasizing its durability and capability with features like an SMC bed, 11,000lb tow rating, and 2,500lb payload capacity. The ad also highlights the truck's shatter-resistant glass and adaptive air suspension, reinforcing Tesla's commitment to meeting high standards after previous scrutiny. The ad campaign sets high expectations for the Cybertruck as it aims to redefine the pickup truck market with its electric vehicle technology.

Portfolio Pulse from Benzinga EV Insights

November 20, 2023 | 7:29 pm

SNOW

Citi analyst Tyler Radke has expressed a positive outlook on the data warehouse industry, particularly highlighting Snowflake Inc (NYSE:SNOW) after attending several industry events. Radke noted improved trends in new projects and large Hadoop migrations. Although optimizations at Snowflake continue, peak levels have been primarily reached according to partners and customers. Despite Databricks leading in next-gen use cases, there is optimism for Snowflake's upcoming product launches. Consequently, SNOW shares saw a 3.22% increase to $167.06.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 7:15 pm

MSFT

Sam Altman and Greg Brockman, formerly of OpenAI, have been hired to lead a new advanced AI research team at Microsoft following their ouster from OpenAI. Analysts from Wedbush, Oppenheimer, and Evercore ISI view this as a positive move for Microsoft, with all maintaining an Outperform rating and setting price targets ranging from $410 to $432. Microsoft's stock was trading at $376.5 at the time of publication.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 7:02 pm

AAPL

BBY

Apple Inc.'s 15-inch MacBook Air with M2 chip is on sale for Black Friday at Best Buy Co Inc. for $1,399, a $300 discount from the usual price of $1,699. The deal includes a $250 flat discount and an additional $50 off for My Best Buy Plus and Total subscribers. The MacBook Air features a 15.3-inch Liquid Retina display, weighs 3.3 pounds, and is powered by the M2 chip, promising up to 18 hours of Apple TV playback or 15 hours of web browsing.

Portfolio Pulse from Rounak Jain

November 20, 2023 | 6:42 pm

ARGT

MSFT

NVDA

PARA

PENN

USO

XLE

XLK

U.S. stocks are trading higher, with major indices in the green. The U.S. dollar index has fallen to its lowest since August. Oil prices have rallied, with WTI surpassing $78 per barrel ahead of an OPEC+ meeting. The Energy Select Sector SPDR Fund (XLE) is up 0.5%. Treasury yields are flat. Tech stocks lead gains, with the Technology Select Sector SPDR Fund (XLK) up 1%. Microsoft hired former OpenAI executives, boosting its shares by 2%. Nvidia (NVDA) is up 1% before its earnings release. Citigroup (C) rose after announcing layoffs. Boeing (BA) surged 4% after an upgrade from Deutsche Bank. Paramount Global (PARA) soared 6.5% after selling Bellator MMA. PENN Entertainment (PENN) rallied 7% after an upgrade from Bank of America. The United States Oil Fund (USO) increased by 3.1%. European and emerging market ETFs saw mixed results, with ARGT up 12% after Argentina's presidential elections. Cryptocurrencies Bitcoin and Ethereum are up.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 6:35 pm

ETHUSD

Ethereum (ETH) has seen a 73% increase over the past year, with a 26% rise in the past month, partly due to anticipation of a Bitcoin ETF approval. Data shows a rise in 'ETH billionaires' who hold over 32% of the supply. The top holders are exchanges and the Beacon Deposit Contract, with individual celebrities also holding significant amounts. MetaMask and Ledger are highlighted as top wallets for Ethereum storage.

Portfolio Pulse from Khyathi Dalal

November 20, 2023 | 6:16 pm

NVDA

TSM

KeyBanc analyst John Vinh maintains an Overweight rating on Nvidia Corp (NVDA) with a price target of $650, anticipating solid results and guidance above consensus. Despite export restrictions to China and supply constraints, demand for AI GPUs, especially the new L40S and H100 models, is expected to drive strong performance. Vinh predicts minimal impact from China export restrictions in the near term and estimates a potential 20% headwind if compliant GPUs for China are not performant. NVDA's FY25 Data Center revenue is projected at $82 billion, with total revenue and EPS at $96.8 billion and $20.84, respectively. NVDA shares saw a 1.04% increase to $498.10.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 6:04 pm

ETHUSD

On Sunday, 4,378.14 Ether (ETH) valued at $9M was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network currently has a 4% annual issuance rate of new Ether, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -3.22% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 6:00 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has announced significant Black Friday discounts on Xbox products, including the Xbox Series S and X consoles, games, and controllers. The deals are available from Nov. 17 until the end of the month, with the Xbox Series S bundle priced at $300 and the Xbox Series X receiving a $50 discount. Xbox controllers are $10 off with free engravings on Elite Series 2 controllers, and games like 'Diablo IV' and 'Resident Evil 4 remake' are discounted by 20% to 70%. A $25 discount is also offered on the 1TB Western Digital Black C50 SSD for Xbox.

Portfolio Pulse from Franca Quarneti

November 20, 2023 | 5:56 pm