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TMCI

Treace Medical Concepts announced the interim 3-year results of its ALIGN3D clinical study at the 2024 ACFAS Scientific Conference. The data presented could have implications for the company's future product development and market positioning.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:03 pm

AMZN

SNOW

Snowflake Inc. (NYSE:SNOW) shares hit a new 52-week high after Raymond James analyst Simon Leopold maintained an Outperform rating and raised the price target from $190 to $223, citing positive public cloud trends and Amazon.com's (NASDAQ:AMZN) AWS revenue growth. Snowflake's Cloud Data Warehouse platform, primarily built on AWS, benefits from these trends. The stock's rise is also attributed to the growing excitement around artificial intelligence, with Snowflake acting as an entry point to AI platforms. Over the past month, SNOW has gained more than 13%, trading above its 50-day moving average.

Portfolio Pulse from Erica Kollmann

February 02, 2024 | 5:03 pm

NXT

Goldman Sachs has reaffirmed its Buy rating on NEXTracker (NASDAQ:NXT), raising its price target from $62.00 to $70.00. Despite a recent 1.59% decline in share price to $55.60, the new target suggests a potential 25.9% upside. NEXTracker is a leader in solar tracker and software solutions for solar projects globally.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:00 pm

ALGM

Needham has maintained its Buy rating for Allegro Microsystems (NASDAQ:ALGM) but lowered its price target from $44.00 to $40.00. Despite this, ALGM's shares have risen by 1.03% in the last 24 hours to $29.44. A move to $40.00 would represent a 35.87% increase from the current price. Allegro Microsystems is a key player in the automotive and industrial markets, specializing in sensor ICs and analog power ICs.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:00 pm

AAPL

Apple Inc (AAPL) surpassed revenue and EPS estimates in Q1, with analysts providing mixed views on its performance and future prospects. Highlights include strong iPhone sales, investment in generative AI, and challenges in China. Analysts adjusted price targets accordingly, reflecting optimism and concerns about growth, competition, and market positioning.

Portfolio Pulse from Chris Katje

February 02, 2024 | 4:33 pm

BYDDY

NIO

TSLA

WKSP

XPEV

The start of 2024 has shown a slow beginning for EV sales in China, with major companies like BYD, Nio, Li Auto, XPeng, and Tesla reporting YoY growth but MoM drops in deliveries. Despite the slow start, companies are pushing forward with innovations and expansions, such as Li Auto's charging network and XPeng's plant upgrade. Tesla has introduced new discounts in China, while BYD boasts a significant increase in overseas sales and expects a substantial rise in annual earnings. Worksport Ltd has launched new products and announced compatibility with major truck brands, indicating a strong start to 2024.

Portfolio Pulse from Upwallstreet

February 02, 2024 | 4:24 pm

FFNTF

FLGC

MMNFF

OGI

SBIG

January saw significant executive and board changes in the cannabis industry. Flora Growth Corp.'s CEO, Clifford Starke, was elected chairman of the U.S. Hemp Roundtable. 4Front Ventures and The Cannabist Company Holdings announced new CEOs. Organigram Holdings and other companies made board appointments, while MedMen Enterprises and BZAM Ltd. saw departures. Trulieve Cannabis appointed a new COO, and other companies expanded their executive teams.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 4:01 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for February 2nd, 2024, provides a trade strategy for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. It offers detailed bullish and bearish scenarios for each asset, emphasizing the importance of monitoring these stocks for potential breakouts or reversals. The memo also highlights the significance of the premarket release of Non-Farm Payrolls and recent earnings reports from AAPL, AMZN, and META, advising traders to stay disciplined and strategically positioned.

Portfolio Pulse from RIPS

February 02, 2024 | 3:40 pm

ROKU

High-rolling investors have shown a bearish positioning on Roku (NASDAQ:ROKU), with Benzinga's options scanner revealing unusual activity. The sentiment is split, with 37% bullish and 62% bearish. Notable options trades include a mix of puts and calls, with a focus on strike prices between $87.0 and $100.0. Roku's current market status shows a slight increase in stock price to $89.03, with an RSI indicating a neutral position. The company, a leading streaming platform, is approaching its earnings release in 13 days.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 3:32 pm

ARM

Financial analysts have observed a bullish trend in ARM Holdings's (NASDAQ:ARM) options market, with 66% of trades being bullish. Significant options trades suggest a target price range of $65.0 to $73.0. ARM Holdings, a key player in smartphone CPU cores, is currently trading at $71.07, up 0.78%. Analysts from Mizuho and Keybanc have set price targets of $85 and $75, respectively, indicating a positive outlook.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 3:03 pm