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STLA

TSLA

Jefferies analyst Philippe Houchois suggests Tesla should cancel the Cybertruck to refocus on core strengths and simplicity. He maintains a Neutral rating on Tesla but cuts the price target from $250 to $210, citing a slow growth period for the next 12-18 months. Houchois lowers Tesla's EBIT and free cash flow estimates for 2023 and 2024, but notes positives like Model 3 refresh, easing China pressure, and potential expansion at Giga Berlin. Tesla shares were down 0.4% to $233.15.

Portfolio Pulse from Shanthi Rexaline

November 20, 2023 | 5:49 pm

AMZN

GOOG

MSFT

NVDA

Microsoft Corp (NASDAQ:MSFT) has made strategic moves to strengthen its position in artificial intelligence (AI) by hiring Sam Altman and Greg Brockman, former executives of OpenAI, after Altman's ouster as CEO of OpenAI. OpenAI, known for developing ChatGPT, experienced a culture clash leading to Altman's firing. Microsoft, a major investor in OpenAI, attempted to reinstate Altman but instead brought him and Brockman on board. This move is seen as positive for Microsoft's AI ambitions but negative for competitors like Alphabet Inc Class C (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN). Microsoft also announced two new AI semiconductor chips, which could impact NVIDIA Corp (NASDAQ:NVDA) as Altman had plans to start a semiconductor company to compete with NVIDIA before his firing. NVIDIA's upcoming earnings report is highly anticipated. Early trade money flows are positive for Microsoft, Meta Platforms Inc (NASDAQ:META), Tesla Inc (NASDAQ:TSLA), and Apple Inc (NASDAQ:AAPL), but negative for Alphabet and Amazon. Mixed money flows are seen in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Portfolio Pulse from The Arora Report

November 20, 2023 | 5:43 pm

COIN

MARA

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has experienced significant insider selling in November, with key executives and a director offloading shares. Despite this, MSTR stock has risen 13.96% since November 1, and analysts rate it a Buy. The company's aggressive Bitcoin accumulation strategy may be influencing its stock performance, as it holds a substantial amount of Bitcoin relative to its market cap. Other crypto-related stocks like Coinbase Global Inc. (NYSE:COIN) and Marathon Digital Holdings Inc (NYSE:MARA) have also been rallying, potentially due to optimism around a spot Bitcoin ETF.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 5:39 pm

CDIO

Cardio Diagnostics Holdings' stock is up following the announcement of a study on PrecisionCHD published in the Journal of the American Heart Association.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 5:37 pm

VCIG

VCI Global Ltd (NASDAQ:VCIG) has acquired the IP and assets of Playstack Limited's AI-based AdTech platforms. The financial details were not disclosed. The technology aims to enhance VCIG's customer engagement and monetization strategies by using AI, gamification, and augmented reality to maximize brand engagements. VCI Global had $3.3 million in cash and equivalents as of June 30, 2023. VCIG shares dropped by 2.05% to $2.86.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 5:25 pm

CRSP

CRISPR Therapeutics' stock is experiencing an uptrend following the recent announcement of regulatory authorization for the first CRISPR/Cas9 gene-edited therapy.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 5:18 pm

STLA

Stellantis NV plans to expand vehicle production in Italy, aiming to increase annual output to one million vehicles. Negotiations with the Italian government, labor unions, and automotive groups will begin on Dec. 6 to discuss production targets, R&D, worker retraining, and supplier support. The success of the plan depends on government measures such as revising the Euro 7 emission regulation, EV incentives, charging network expansion, and energy cost reduction. Stellantis shares rose 0.99% to $20.43.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 5:18 pm

CDIO

CUEN

GTEC

IOVA

NSTG

PXMD

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Information technology shares led the gains, while utilities fell. Iovance Biotherapeutics, Cardio Diagnostics, and Cuentas saw their stocks rise after positive news, while NanoString Technologies, PaxMedica, and Greenland Technologies fell due to downgrades, public offering pricing, and weak results respectively. Crude oil prices increased by 2.5%, while gold and silver declined.

Portfolio Pulse from Lisa Levin

November 20, 2023 | 5:09 pm

AZN

FMI

The U.S. FDA has approved Foundation Medicine's FoundationOne CDx as a companion diagnostic for AstraZeneca's Truqap in combination with Faslodex for treating HR-positive, HER2-negative advanced breast cancer with specific alterations. This approval follows the positive results from the CAPItello-291 trial, which showed significant improvement in progression-free survival. FoundationOne CDx is the first FDA-approved test for this subset of breast cancer patients and is part of Foundation Medicine's portfolio of FDA-approved comprehensive genomic profiling tests.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 5:04 pm

IIIV

Stephens & Co. has maintained its Overweight rating on i3 Verticals (NASDAQ:IIIV) but reduced its price target from $32.00 to $28.00. Despite the reduction, the new target suggests a significant 41.13% upside from the current price of $19.84. i3 Verticals provides integrated payment and software solutions, primarily generating revenue from its Proprietary Software and Payments segment.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 5:00 pm