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VRNS

DA Davidson has downgraded Varonis Systems (NASDAQ:VRNS) to Neutral and raised the price target from $37.00 to $45.00. Varonis Systems' shares are currently trading at $45.08, down 0.62% over the last 24 hours. A price target of $45.00 implies a slight decrease from the current price. Varonis is a cybersecurity company transitioning to cloud-based services.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:00 pm

RSLS

ReShape Lifesciences has had its U.S. Patent Application #20240016635 published today for an 'Intragastric Device for Treating Obesity.' This development could potentially enhance the company's intellectual property portfolio and strengthen its position in the obesity treatment market. The publication of the patent application is a step forward in the patent process, but it does not guarantee that a patent will be granted. Investors may view this news as a positive sign of innovation and future growth potential for ReShape Lifesciences.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 5:00 pm

AGFY

ARAV

EHTH

MDC

PCSA

TSM

U.S. stocks were mostly higher with the Nasdaq Composite up over 1%. The Dow was slightly down, while the S&P 500 gained. Information technology shares led gains, while health care shares declined. Crude oil inventories decreased more than expected, boosting oil prices. Agrify Corporation announced a significant sales agreement, M.D.C. Holdings will be acquired by Sekisui House, and Taiwan Semiconductor reported strong financial results. Conversely, Aravive plans to delist from Nasdaq, Processa Pharmaceuticals announced a reverse stock split, and eHealth was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 5:00 pm

LEVI

Safilo Group and Levi Strauss & Co. have announced the renewal of their global eyewear licensing agreement until the end of 2029. The partnership leverages Levi's strong brand and global distribution network in Europe, North America, and Asia. Both companies share a commitment to sustainability and aim to cater to the contemporary segment and younger generations.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 4:53 pm

AAPL

FXI

iPhone prices are being reduced in China ahead of the Lunar New Year due to declining sales and increased competition from domestic brands like Huawei. Alibaba's Tmall and JD.com are offering significant discounts on iPhones, with Tmall's promotion running until January 31. Apple is also providing discounts at its physical stores and website in China, though less steep than the online retailers. iPhone shipments in China dropped by 4% year-on-year for Q3 2023, and sales in the first week of 2024 fell by approximately 30% compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 4:40 pm

MSFT

OTGLF

SONY

TTWO

Take Two Interactive Software Inc's 'Grand Theft Auto 6' trailer has become the second most-watched video game trailer on YouTube with over 168 million views. It ranks ahead of trailers for 'Red Dead Redemption 2,' CD Projekt SA's 'Cyberpunk 2077,' and Microsoft Corp.'s 'Minecraft,' but behind 'Subway Surfers.' The game is set to launch in 2025 on PlayStation 5 and Xbox Series X and S, with no mention of a PC release. The trailer features a female protagonist and hints at gameplay elements and social media integration.

Portfolio Pulse from Franca Quarneti

January 18, 2024 | 4:30 pm

AAPL

BofA Securities analyst Wamsi Mohan upgraded Apple Inc (AAPL) from Neutral to Buy and increased the price target from $208 to $225, citing a robust multi-year iPhone upgrade cycle, potential for Generative AI features, higher service growth, and strong capital returns. Mohan expects new AI-driven features to boost iPhone sales and services revenue, with higher than expected unit estimates for FY24-FY26 and raised services estimates for FY25 and FY26. He also anticipates that Apple's gross margin will remain stable or increase over time.

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 4:21 pm

ARKK

ARKQ

ARKW

TSLA

Cathie Wood of Ark Invest has set a new price target for Tesla Inc (TSLA) at $2,000 by 2027, with a market cap of $4.4 trillion. The bear and bull cases are $1,400 and $2,500, respectively. Wood emphasizes Tesla's AI and autonomous driving technology, not just its automotive aspect. Tesla is a significant holding in ARKQ, ARKK, and ARKW ETFs. A $1,000 investment in TSLA could yield returns between 551% and 1,062.5% if Ark's targets are met.

Portfolio Pulse from Chris Katje

January 18, 2024 | 4:17 pm

DCPH

Deciphera Pharmaceuticals (NASDAQ:DCPH) presented long-term results from the INTRIGUE Phase 3 study of QINLOCK in second-line GIST patients at the ASCO Gastrointestinal Cancers Symposium. The study compared QINLOCK to sunitinib, showing a median overall survival of 35.5 months for QINLOCK versus 31.5 months for sunitinib. QINLOCK demonstrated a favorable safety profile with fewer Grade 3/4 TEAEs and lower treatment discontinuation rates. The results support QINLOCK as a preferred second-line regimen for advanced GIST patients intolerant to sunitinib, as per NCCN Guidelines. An exploratory analysis showed clinical benefit for QINLOCK in patients with specific KIT mutations, leading to the INSIGHT Phase 3 study enrollment.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 4:14 pm

AMD

INTC

NVDA

TSM

Nvidia (NVDA) and AMD (AMD) stocks are trading higher after Taiwan Semiconductor Manufacturing Company (TSM) reported strong Q4 results, with revenue and EPS beating consensus estimates. TSMC's positive FY24 revenue growth forecast and capital budget also contributed to the optimism. Analysts highlighted Nvidia's value in the AI sector and both Nvidia and AMD's strong positioning due to their AI moat. Meetings at CES with Nvidia executives were optimistic, and the focus on AI and gaming technology at the event aligns with the companies' strategies. Nvidia plans to launch a China-specific chip by 2Q24, and India's Yotta intends to deploy Nvidia's H100s and H200s by 2025. Over the last 12 months, Nvidia's stock has surged over 228%, while AMD's has gained 134%. Wall Street analysts generally view AMD as a Buy, with Barclays' Tom O'Malley being the most optimistic.

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 4:12 pm