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AMD

INTC

Susquehanna analyst Christopher Rolland reiterated a Positive rating on AMD and increased the price target from $170 to $210, focusing on the M1300 chip guidance. Despite potential short-term guidance disappointments, Rolland is optimistic about AMD's M1300 and MI300 chips, expecting in-line results and a slight first-quarter guidance miss. He also commented on Intel's server growth and the PC market, suggesting a positive outlook for AMD CPUs. AMD shares saw a minor decline in recent trading.

Portfolio Pulse from Anusuya Lahiri

January 29, 2024 | 5:29 pm

PCVX

Vaxcyte, Inc. has completed enrollment for its Phase 1/2 clinical trial of VAX-24, a pneumococcal conjugate vaccine candidate. This milestone may positively influence investor sentiment as it marks progress in the company's pipeline development.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:29 pm

SQNXF

Yoshinori Kitase, VP at Square Enix, indicated that a remake of Final Fantasy 6 could take about 20 years due to its complexity and depth. The project is not confirmed and would only be considered after the Final Fantasy 7 Remake Trilogy is completed. The second entry of the trilogy, Final Fantasy 7 Rebirth, is scheduled for release on Feb. 29, 2024. Hironobu Sakaguchi, the series creator, also commented on the challenges of remaking the game from its original 2D format.

Portfolio Pulse from Franca Quarneti

January 29, 2024 | 5:29 pm

AMZN

GOOG

META

MSFT

NVDA

SOXL

Nvidia Corp (NVDA) faces increasing competition in the AI chip market from tech giants like Amazon (AMZN), Alphabet (GOOG/GOOGL), Meta Platforms (META), and Microsoft (MSFT), who are developing their own AI chips to reduce dependency on Nvidia's GPUs. Despite this, Nvidia maintains over 70% of AI chip sales and is seen as a key beneficiary in the AI space. The company's sales surged by 206%, adding about a trillion dollars to its market value. Nvidia's significant exposure to China is a concern due to U.S. semiconductor industry sanctions. The Direxion Daily Semiconductor Bull 3x Shares (SOXL), which includes Nvidia, saw a slight increase in its share price.

Portfolio Pulse from Anusuya Lahiri

January 29, 2024 | 5:22 pm

FXI

SPY

U.S. lawmakers have requested the Biden Administration to impose export restrictions on four Chinese companies involved in Ford Motor's planned battery plant in Michigan. This could potentially affect the progress of the plant and Ford's electric vehicle strategy.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:16 pm

BETZ

DKNG

FLUT

Flutter Entertainment plc (NYSE:FLUT), parent of FanDuel, has listed on the NYSE, transitioning from its OTC listing under PDYPY. This move could impact DraftKings Inc (NASDAQ:DKNG) as investors may rotate from DraftKings to Flutter due to its new accessibility and status as a pure-play sports betting and gaming company. Flutter's Q4 revenue was up 15% YoY, with FanDuel holding a 43% gross revenue market share in the U.S. sportsbook market. Flutter's NYSE listing is seen as a strategic move to access deeper capital markets and align with its significant U.S. presence. Flutter is also the largest holding in the Roundhill Sports Betting & iGaming ETF (NYSE:BETZ) at 11.0%. Flutter shares are up 0.88% to $206.80.

Portfolio Pulse from Chris Katje

January 29, 2024 | 5:01 pm

AMGN

Amgen (NASDAQ:AMGN) has received mixed ratings from 11 analysts, with an average 12-month price target of $291.91, indicating a 5.6% increase from the previous target. Recent actions include ratings adjustments and price target changes by analysts from UBS, Daiwa Capital, BMO Capital, RBC Capital, Truist Securities, Deutsche Bank, and Morgan Stanley. Amgen's financials show a market cap above industry average, a 3.77% revenue growth, a high net margin of 25.06%, an ROE of 23.97%, and an ROA of 1.91%, but a high debt-to-equity ratio of 7.9. The company's portfolio includes drugs like Epogen, Aranesp, Neupogen, Neulasta, Enbrel, Otezla, Vectibix, Prolia/Xgeva, Evenity, Repatha, Aimovig, Lumakras, Tezspire, and Kyprolis from the Onyx acquisition. The recent Horizon acquisition adds drugs for rare diseases, including Tepezza.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:00 pm

CHH

Barclays has maintained its Underweight rating on Choice Hotels Intl (NYSE:CHH) but raised its price target from $112.00 to $114.00. Despite the increase in the price target, the new target still suggests a potential downside of 6.22% from the current share price of $121.56. Choice Hotels operates 628,000 rooms across 13 brands and franchises make up 99% of its revenue. The United States accounts for 79% of total rooms. The company recently added the Everhome brand and closed on its Radisson acquisition, adding approximately 70,000 rooms.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:00 pm

Auto dealers are expressing a strong interest in hybrid vehicles to General Motors (GM), indicating a demand for a broader mix of powertrains amidst the industry's push towards electric vehicles. This demand suggests that consumers are still interested in hybrid options, which could influence GM's production and sales strategies.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 4:22 pm

NFLX

Netflix Inc (NASDAQ:NFLX) has seen a 16% rise in stock price in 2024 and a 64% increase in 2023, despite challenges like subscription fatigue and competition. Disney's decision to license more TV shows to Netflix is a significant boost to its content library. Netflix has been investing heavily in content, with expenditures over $17 billion, and has introduced measures like cost-cutting, addressing password sharing, and ad-supported tiers to improve profitability. The company's debt exceeds $14 billion, but operating margin is expected to increase to 24%. Post-earnings, the stock opened 9% higher, despite Q4 earnings falling short, indicating investor confidence. Netflix's stock closed at $570.42 on January 26, up by 1.52%.

Portfolio Pulse from Zaheer Anwari

January 29, 2024 | 4:17 pm