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Microsoft Corporation (NASDAQ:MSFT) reported strong quarterly results, with revenue and net income surpassing analyst expectations, driven by significant growth in its Azure cloud service. In contrast, Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) disappointed with lower-than-expected holiday-season advertising sales. Microsoft's success in AI, highlighted by its partnership with ChatGPT-maker OpenAI and the use of its AI tools by major corporations, has contributed to its stock's rise. Microsoft, along with other tech giants, has significantly influenced market performance, with Microsoft and Nvidia Corporation (NASDAQ:NVDA) accounting for a substantial portion of the S&P 500's gains.

Portfolio Pulse from Upwallstreet

February 01, 2024 | 4:41 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for February 1st, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA based on a proprietary formula. It outlines potential bullish and bearish price levels for each asset, influenced by price, volume, and options flow. The memo also highlights the importance of upcoming employment data, PMI numbers, and a Bill Auction, suggesting these could impact market volatility and trading decisions. The memo is part of exclusive content offered to Market Clubhouse members, providing insights and real-time mentorship from a pro trader known as RIPS.

Portfolio Pulse from RIPS

February 01, 2024 | 4:25 pm

META

NVDA

NVIDIA shares are being closely monitored following reports that Meta is developing a new version of its custom AI chip for data centers, aiming to reduce its dependence on NVIDIA's technology.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:20 pm

META

Meta plans to deploy a new version of its custom AI chip in data centers this year, aiming to enhance its computing capabilities and efficiency. This move underscores Meta's commitment to advancing its AI infrastructure, potentially reducing reliance on external chip suppliers and optimizing operational costs.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:18 pm

XLB

The U.S. manufacturing sector showed signs of resurgence in January, with the S&P Global US Manufacturing PMI and the ISM Manufacturing PMI both indicating a robust rebound in new orders and rising costs of raw materials. This recovery, however, could contribute to inflationary pressures due to increased prices for raw materials. The Materials Select Sector SPDR Fund (XLB) saw a slight increase in its trading price amidst these developments.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 4:04 pm

HARP

MRK

Merck & Co Inc (NYSE:MRK) reported a surprise Q4 2023 profit with sales of $14.63 billion, up 6% Y/Y, driven by oncology, vaccines, and hospital acute care. Keytruda sales rose 21% to $6.61 billion, while Lagevrio sales dropped 77%. Adjusted EPS was $0.03, beating consensus. The company forecasts 2024 sales of $62.7 billion-$64.2 billion and adjusted EPS of $8.44-$8.59. Merck also announced the acquisition of Harpoon Therapeutics Inc (NASDAQ:HARP), expected to close in H1 2024.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 3:43 pm

RCL

During a conference call, a Royal Caribbean executive mentioned that the company has less inventory available to book for 2024 compared to the same period a year ago.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:09 pm

NRBO

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares surged after the FDA cleared its IND application for DA-1726, a novel obesity treatment. The company plans to start a Phase 1 clinical trial in the first half of 2024. DA-1726, a dual oxyntomodulin analog agonist, showed superior weight loss in mouse models compared to existing treatments. NeuroBo's stock soared 41% on heavy trading volume, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 3:08 pm

NRBO

NeuroBo Pharmaceuticals' shares surged following the FDA's clearance of the IND for a Phase 1 clinical trial of DA-1726, aimed at treating obesity.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:06 pm

SILO

Silo Pharma has announced its pipeline prioritization for 2024, focusing on mental health, chronic pain, and neurology. This strategic move aims to address significant unmet medical needs in these areas.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:02 pm