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PANW

Palo Alto Networks Inc (NASDAQ:PANW) shares dropped after reporting fiscal Q2 revenue beat but disappointing guidance. Analysts adjusted ratings and price targets, citing concerns over near-term growth due to a new pricing strategy offering free services for customer commitments, impacting billings. Despite the near-term challenges, some analysts remain optimistic about PANW's long-term growth potential.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:08 pm

DHI

ITB

LEN

TOL

Toll Brothers Inc (NYSE:TOL) shares surged 5% following better-than-expected results and an optimistic 2024 outlook, influencing the entire homebuilding sector. The company plans to return cash to shareholders through dividends or buybacks. Rivals D.R. Horton Inc (NYSE:DHI) and Lennar Corporation (NYSE:LEN) also reported positive results, contributing to sector optimism. The iShares U.S. Home Construction ETF (NYSE:ITB) saw a 1% increase. Despite a recent slump in housing starts, the sector remains hopeful due to strong demand and limited supply.

Portfolio Pulse from Neil Dennis

February 21, 2024 | 7:05 pm

VZIO

WMT

Telsey Advisory Group analyst Joseph Feldman upgraded Walmart Inc. (WMT) to an Outperform rating with a target price of $205, up from $185, citing Walmart's expanded vision beyond retail into advertising, merchant services, and last-mile delivery. Walmart's Q4 FY24 net sales grew by 5.7% to $173.39 billion, surpassing expectations. Adjusted EPS was $1.80, beating the consensus of $1.65. The company's international division saw a 17.6% sales increase, with significant growth in Flipkart and China. Walmart also agreed to acquire VIZIO Holding Corp. (VZIO) for $2.3 billion, a move expected to bolster its advertising growth but be dilutive to 2024 earnings. Feldman maintains a 2024 EPS estimate of $7.13 with a projected total sales growth of 4% to $674 billion.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 7:01 pm

TTD

Trade Desk (NASDAQ:TTD) has seen significant options market activity, with a mix of bullish and bearish sentiments among big-money traders. The options scanner revealed 12 uncommon trades, evenly split between bullish and bearish. The focus is on a price range of $50.0 to $95.0. The company, known for its digital ad inventory platform, has experienced a 43% average annual revenue growth since going public in 2016. Currently, the stock is down -1.6% at $81.24, with mixed analyst ratings ranging from a sell to overweight, and target prices between $42 and $110.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 6:45 pm

INTC

MSFT

Intel Corporation (INTC) and Microsoft Corporation (MSFT) have announced a partnership where Intel will manufacture chips for Microsoft using Intel's 18A process. This announcement was made by Microsoft CEO Satya Nadella at Intel Foundry Direct Connect, highlighting the move as part of a platform shift aimed at transforming productivity and the industry. Intel also launched Intel Foundry, positioning it as a sustainable systems foundry for the AI era. The news comes as Microsoft shares are down 0.88% and Intel shares are down 1.73%.

Portfolio Pulse from Erica Kollmann

February 21, 2024 | 6:24 pm

MOTS

Motus GI Holdings Inc (NASDAQ:MOTS) shares surged 62.50% to $1.06 due to a significant increase in trading volume and the announcement of a new patent for their Pure-Vu system by the USPTO. The patent, #11904085, enhances the system's ability to manage irrigation pressure and self-purge, aiming to improve endoscopic outcomes by efficiently cleaning the colon or other parts of the GI tract.

Portfolio Pulse from Vandana Singh

February 21, 2024 | 6:11 pm

NVDA

Truist analyst William Stein reiterated a Buy rating on Nvidia Corp (NASDAQ:NVDA) with a price target of $691, ahead of its Q4 2023 results due on February 21, 2024. Stein anticipates Nvidia to surpass its performance expectations, continuing its trend of exceeding revenue and EPS forecasts. Nvidia has guided for $20 billion in sales and $4.47 in EPS for Q4 2024. The company's strong demand in its supply chain and innovative product pipeline, including the Grace CPU and H200 GPU, support a bullish outlook despite industry cyclicality concerns. Nvidia's significant sales in AI-related products and services highlight its solid market position. NVDA shares traded lower by 3.43% at $670.55 recently.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 6:05 pm

BUG

DIA

NVDA

PANW

QQQ

SPY

Wall Street experienced a downturn ahead of the Federal Reserve meeting minutes and Nvidia's earnings report. Cybersecurity stocks, notably Palo Alto Networks, faced significant losses, impacting the Global X Cybersecurity ETF. Energy stocks outperformed due to a rise in natural gas prices. Major indices and ETFs like SPY, DIA, and QQQ saw declines, while specific stocks reacted to earnings reports or anticipated earnings.

Portfolio Pulse from Piero Cingari

February 21, 2024 | 6:04 pm

ETH-USD

On Tuesday, 7,886.89 Ether (ETH) worth approximately $22.9 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -8.53% yesterday.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 6:00 pm

HES

XOM

Exxon Mobil is considering the initiation of offshore natural gas production in Guyana, with plans potentially starting after 2029. This move could mark a significant expansion of Exxon's operations in the region, where it has already established a strong presence in oil production.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:56 pm