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GBTC

Cathie Wood, CEO of ARK Invest, predicts that the approval of a U.S. Bitcoin ETF could challenge the Grayscale Bitcoin Trust's (GBTC) market position. ARK Invest, in partnership with 21 Shares, is awaiting SEC approval to launch a Bitcoin ETF. Wood believes this could introduce more liquid investment options and attract new investors, but also warns of potential profit-taking post-launch. ARK Invest has recently sold $6 million worth of GBTC shares, which Wood attributes to routine profit-taking.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 3:17 am

MSFT

Wedbush analyst Dan Ives has increased the price target for Microsoft Corporation (NASDAQ:MSFT) from $400 to $425, citing the potential for 'game-changing' AI monetization from its Co-Pilot AI product. Microsoft also announced the development of two custom chips, Maia and Cobalt, to enhance its Azure cloud service and reduce internal costs, respectively. These developments position Microsoft as a 'Top Pick' for 2024 and reflect the company's strategic moves in AI amidst a global chip shortage.

Portfolio Pulse from Ananya Gairola

November 16, 2023 | 1:28 am

MSFT

Microsoft Corp (NASDAQ:MSFT) announced new games for Xbox Game Pass for November 2023, including Coral Island, Persona 5 Tactica, Dune: Spice Wars, and Rollerdrome. Coral Island is now available, while Persona 5 Tactica and Dune: Spice Wars will be available later in the month. Rollerdrome will also join Game Pass on Nov. 28. Seven games will leave Game Pass on Nov. 30.

Portfolio Pulse from Franca Quarneti

November 15, 2023 | 11:18 pm

TTWO

Take-Two Interactive Software Inc's CEO Strauss Zelnick proposed a new algorithm for video game pricing based on the length and engagement of a game during a financial call. The algorithm would calculate the cost of a game by considering the per-hour value multiplied by the anticipated play hours and the perceived value of ownership. Zelnick noted that while gamers get great deals from extensive play, publishers lack direct control over retail prices, which could complicate the implementation of this pricing strategy. The impact on the price of the upcoming Grand Theft Auto 6 (GTA 6) was not specified, but it could be higher if the algorithm is applied.

Portfolio Pulse from Franca Quarneti

November 15, 2023 | 11:06 pm

XRT

Historical data shows that the S&P 500 typically experiences gains during November, ranking as the third-best month with an average increase of 0.88%. Specifically, Thanksgiving week has shown an average gain of 0.54% over the last 50 years, with a 68% chance of positive returns. The SPDR S&P Retail ETF (XRT) has seen an average gain of 1.72% during this period. However, investors are cautioned not to rely solely on Black Friday sales as an indicator of Q4 performance.

Portfolio Pulse from Piero Cingari

November 15, 2023 | 10:02 pm

KLIC

Kulicke & Soffa Industries, Inc. (NASDAQ:KLIC) has received multiple orders for its Thermocompression Bonding solutions, primarily for Silicon Photonics based Co-Packaged Optics applications. The company expects follow-on orders to support capacity expansion in fiscal years 2024 and 2025, with CPO units projected to grow at a 66% CAGR through 2033. K&S's advanced packaging solutions are critical for AI growth markets, including high-performance computing and heterogeneous integration. The company has seen a 149% CAGR in thermocompression revenue since 2020 and is running production and evaluations for new process steps with major semiconductor providers.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:28 pm

JPM

J.P. Morgan Chase & Co.'s Onyx and Apollo Global have launched a proof-of-concept with Avalanche under Singapore's Project Guardian. The initiative aims to digitize and tokenize assets using Avalanche's technology. Avalanche's price surged by 23% in the past 24 hours, with monthly gains reaching 117%. The Onyx digital assets platform processes $1-$2 billion in tokenized assets daily and has settled over $950 billion in tokenized treasuries. A LayerZero protocol will connect Onyx Digital Assets with an Avalanche subnet designed for institutional needs, allowing access to tokenized funds by WisdomTree.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 9:22 pm

ARDX

XPHOZAH has been granted Orphan Drug Designation by the U.S. FDA for the treatment of pediatric hyperphosphatemia. This designation could potentially provide certain benefits to the drug's developer, including tax credits for clinical testing, exemption from FDA application fees, and market exclusivity for seven years post-approval.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:02 pm

TRU

TransUnion (NYSE:TRU) stock is rising after the company announced a transformation program aimed at reducing costs, accelerating innovation, and driving growth. The program includes transitioning more roles to its Global Capability Centers and utilizing Neustar's technology for a new data management platform. The company expects $120 to $140 million in annual operating expense savings and a $70 to $80 million capital expenditure reduction by 2026.

Portfolio Pulse from Ryan Gustafson

November 15, 2023 | 8:44 pm