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TPST

Tempest Therapeutics, Inc. (NASDAQ:TPST) shares rose 19% in premarket trading following the announcement of a presentation at the ASCO Annual Meeting 2024. The company showcased data on the efficacy and safety of its liver cancer treatment, TPST-1120, a PPARα antagonist.

Portfolio Pulse from Charles Gross

January 30, 2024 | 11:51 am

TM

TSLA

Tesla Inc's Model Y has become the world's best-selling vehicle model and the first EV to achieve this status, with over 1.2 million units delivered in 2023. This milestone was predicted by CEO Elon Musk in 2021 and has been confirmed with official data. Despite this, Toyota Motor Co maintained its position as the top global car seller overall, with over 11.2 million units sold in 2023. Tesla's automotive revenue reached $82.42 billion, a 15% increase from the previous year, with the Model Y starting at a reduced price of $43,990.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 11:51 am

FLOKIUSD

The Floki team has responded to the Hong Kong Securities and Futures Commission's concerns by implementing safeguards in their staking program. They have added disclaimers and blocked Hong Kong residents from participating in the Floki and TokenFi staking programs. The team also explained the high APY of their staking program, which is tied to the market value of $TOKEN. The SFC had issued a warning about high-return staking programs, and Floki's token was trading up 2.10% at the time of the article.

Portfolio Pulse from Mehab Qureshi

January 30, 2024 | 11:20 am

META

Meta Platforms Inc (NASDAQ:META) has partnered with the Center for Open Science to share 'privacy-preserving social media data' with researchers, ahead of a congressional hearing on children's online safety. The company, facing pressure to provide data for research on social media's mental health impact, expanded access through the Meta Content Library. CEO Mark Zuckerberg will testify before Congress, as Meta introduces new safety measures on Facebook and Instagram, including messaging restrictions and parental controls. META shares were up 0.47% premarket.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 11:17 am

BABA

NTES

TCEHY

Tencent Holding Ltd's CEO Pony Ma highlighted challenges in the gaming sector and the company's progress in AI at their annual meeting. Tencent, facing competition from companies like miHoYo and NetEase Inc, has seen its gaming performance decline. Ma emphasized the integration of Tencent's 'Hunyuan' AI model to improve efficiency and is exploring live-streaming e-commerce to grow WeChat. Tencent also invested in Beijing land for office space. The company's stock dropped over 27% last year and closed lower by 1.22% at $36.55 on Monday.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 11:14 am

AMD

INTC

NVDA

Ahead of AMD's Q4 earnings report, analysts have raised expectations due to the company's AI prospects, potentially challenging Nvidia. AMD's stock rose 20.6% in January, but questions remain if it can sustain this growth. KeyBanc expects higher Q4 results based on strong server demand, while Intel's recent revenue miss and weak guidance caused its shares to drop. AMD's MI300X AI accelerator chips are gaining traction, but there's potential weakness in the Client segment. Susquehanna revised AMD's price target from $170 to $210, focusing on the MI300 narrative. AMD's premarket shares were down 0.90% at $176.23.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 11:13 am

PII

Polaris anticipates continued challenges in its industry segments through 2024 but aims to gain market share with a strong product lineup and new releases later in the year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:10 am

AAPL

META

KeyBanc Capital Markets analyst Justin Patterson has reiterated an Overweight rating on Meta Platforms, Inc. (META) and increased the price target by 22% from $380 to $465 ahead of Q4 results. The optimism is based on the strength of Meta's ad products, particularly Reels, and a potential recovery in the ad market. KeyBanc expects Q4 revenue of $39.9 billion, a 24% year-over-year growth, and earnings per share of $5.30. Patterson also provided forward-looking estimates and areas of focus for the earnings call, including AI ambitions, Reels, Facebook Reality Labs (FRL) division, and efforts to boost Threads engagement. Meta shares saw a slight increase in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 10:53 am

AAPL

GOOG

META

MSFT

Xreal, a Chinese AR glasses manufacturer, has raised $60 million in funding, surpassing a $1 billion valuation. The company plans to use the funds to expand manufacturing and R&D to meet demand beyond 2024. Xreal is preparing for an IPO within two years and expects revenues of $200-$300 million by 2025. The company competes with Apple, Meta, and Google in the AR market but does not intend to enter the VR space. Xreal captured about 50% of the AR-exclusive device market in Q3 of the previous year.

Portfolio Pulse from Ananya Gairola

January 30, 2024 | 10:36 am

AAPL

ZM

Zoom Video Communications Inc. has developed a new app for Apple Vision Pro, set to launch on Feb. 2, coinciding with the release of Apple Inc.'s mixed reality headset. The app aims to improve hybrid collaboration by integrating video conferencing with users' physical environments. Zoom's initiative to expand its platform across the Apple ecosystem began with a new app for Apple TV in December. The Apple Vision Pro has seen strong initial sales and is expected to have applications in various fields, including healthcare.

Portfolio Pulse from Rounak Jain

January 30, 2024 | 10:14 am