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TSM

Taiwan Semiconductor Manufacturing Co (TSM) reported a 7.9% year-on-year revenue growth in January 2024, signaling a potential sector recovery. This growth, driven by strong demand for AI chips, comes despite the broader challenges in the technology sector, including a warning from Apple Inc (AAPL) about a difficult quarter ahead. TSMC, a key supplier to Apple and Nvidia Corp (NVDA), is expanding its operations globally to meet demand. The company has also beaten its fourth-quarter revenue and EPS consensus, indicating robust financial health.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:21 pm

RGNX

REGENXBIO's stock price increased following the announcement that its pivotal trial of RGX-121 for MPS II treatment met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:15 pm

FRSH

Freshworks (NASDAQ:FRSH) has received mixed analyst ratings over the past three months, with a recent shift towards more bullish perspectives. The average 12-month price target for FRSH has been raised to $29.25, indicating a 24.47% increase from the previous target. Analysts from JMP Securities, Jefferies, Piper Sandler, and Needham have all raised their price targets, reflecting optimism about the company's market performance and product offerings. Despite this, Freshworks faces challenges in net margin and ROA, indicating potential profitability and asset utilization issues.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:01 pm

DD

Mizuho has reaffirmed its Buy rating on DuPont de Nemours (NYSE:DD) but reduced its price target from $80.00 to $76.00. Despite this, DuPont's shares have seen a slight increase of 0.09% in the last 24 hours, trading at $65.80. A rise to the new target price would represent a 15.5% increase from the current level. DuPont, a global specialty chemicals company, emerged from the DowDuPont merger in 2019, offering products like Kevlar, Tyvek, and Nomex across various industries.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:00 pm

FRSH

JMP Securities has reaffirmed its Market Outperform rating for Freshworks (NASDAQ:FRSH), increasing its price target from $25.00 to $29.00. Freshworks' shares have risen 4.03% in the last 24 hours to $22.70. The new price target suggests a potential 27.75% increase from the current price. Freshworks provides a SaaS platform for SMBs to support customers across various channels and has expanded into Sales and Marketing automation products.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:00 pm

SEMR

Jefferies upgraded SEMrush Holdings (NYSE:SEMR) to Buy from its previous rating, with a new price target of $15.00, up from $9.00. SEMrush's shares have risen 6.24% in the last 24 hours to $11.91. The new price target suggests a potential 25.94% increase from the current share price. SEMrush provides an online visibility management SaaS platform, generating revenue primarily from the US, the UK, and other regions.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:00 pm

CTLT

NVO

The European Medicines Agency (EMA) announced it will evaluate the potential impact on the availability of medicines produced at Catalent facilities that have been sold to Novo Nordisk. This assessment follows the sale of certain Catalent sites to Novo Nordisk, raising questions about the future availability of these medicines in Europe.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:56 pm

AAPL

NVDA

NYCB

Apple Inc is reportedly working on two folding iPhones, boosting its stock in early trade due to the popularity of similar products by Samsung and extreme positive market sentiment. NVIDIA Corp, a leader in AI, showed a peak in buying frenzy three days ago but now shows signs of balanced sentiment among bulls and bears, indicating a potential market top. New York Community Bancorp, Inc. was downgraded to junk status by Moody's, significantly impacting its stock price. China replaced its top stock market regulator in a move to boost the market. Early trade money flows are positive for AAPL, GOOG, META, MSFT, and TSLA, neutral for AMZN, negative for NVDA, and mixed for SPY and QQQ.

Portfolio Pulse from The Arora Report

February 07, 2024 | 4:42 pm

FTNT

Fortinet Inc (NASDAQ:FTNT) shares rose in premarket trading after reporting better-than-expected Q4 results, with several analysts adjusting their ratings and price targets. The company's billings outperformed expectations, driven by large deals and early success in SASE and SecOps. Despite some concerns over product revenue decline and competitive pressures, the overall sentiment is positive, with a focus on Fortinet's growth and profitability strategy.

Portfolio Pulse from Priya Nigam

February 07, 2024 | 4:39 pm

SPY

Fed's Kugler comments on the premature nature of assessing AI's impact on productivity, indicating a cautious approach towards the rapidly evolving technology.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:37 pm