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MSFT

According to a WCCF Tech report, Microsoft had considered acquiring Square Enix a few years ago to enhance the Xbox's presence in Asia and to aid in the launch of mobile Xbox Game Pass offerings.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 7:19 pm

JETS

NVDA

U.S. Global Investors CEO Frank 'Bulldog' Holmes discussed the strength of the U.S. economy, citing the 15.4% rise in the U.S. Global Jets ETF (JETS) over the last month. JETS includes major airlines like Delta Air Lines, United Continental Holdings, American Airlines Group, and Southwest Airlines. Holmes highlighted the return to pre-COVID ticket prices and falling oil prices as positive indicators for the economy and the airline industry. He also praised NVIDIA Corp's AI and chips for their role in cryptocurrency mining.

Portfolio Pulse from Anthony Noto

June 28, 2023 | 7:11 pm

BETRF

PHRRF

BetterLife Pharma Inc. (OTCQB:BETRF) is fast-tracking its U.S. patent application for non-hallucinogenic LSD derivatives, including its 2-bromo-LSD derivative BETR-001, which is expected to begin clinical trials for Major Depressive Disorder. The patent covers the composition, treatment uses, and a novel production method. The company's CEO, Dr. Ahmad Doroudian, highlighted the compound's neuroplasticity properties and efficacy in preclinical models of depression, anxiety, and pain. Another biotech company, PharmaTher Holdings (OTC:PHRRF), recently fast-tracked an application for its proprietary racemic ketamine, KETARX, for the treatment of levodopa-induced dyskinesia in Parkinson’s disease.

Portfolio Pulse from Lara Goldstein

June 28, 2023 | 7:01 pm

EA

Electronic Arts Inc. (NASDAQ:EA) has announced the release of its FIFA Women's World Cup Australia and New Zealand 2023 update for EA SPORTS FIFA 23. The update includes a new game mode, the return of the single-player Tournament Mode, and detailed features to enhance the in-game experience. EA SPORTS has also conducted simulations of all 64 matches in the in-game Tournament mode, predicting the USA will emerge victorious in the FIFA Women's World Cup 2023.

Portfolio Pulse from Franca Quarneti

June 28, 2023 | 6:58 pm

NET

Cloudflare Inc (NYSE:NET) has been maintained with an Outperform rating by Baird analyst Shrenik Kothari, who raised the price target from $59 to $64. The company showcased its commitment to speed and network efficiency at the recently concluded Speed Week. Cloudflare's strategy focuses on leveraging its efficient network to foster customer loyalty, minimize churn, and compete against security market leaders. The company also launched new products and demonstrated advancements in AI/ML.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:47 pm

RBLX

Needham analyst Bernie McTernan reiterated a Buy rating for Roblox Corp (RBLX) with a $48 price target. He spoke with 11 RBLX developers who indicated a more positive monetization environment compared to a year ago, with opportunities from immersive advertising, engagement-based payouts, and better analytics. However, they also noted challenges in building an audience for lower-quality games and standing out among older, more established games. None of the developers currently use AI tools, but two believe it will eventually play a significant role in game creation.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:37 pm

CYBN

Cybin Inc. (NYSE:CYBN) reported its FY2023 financial results, showing a net loss of $35.6 million, down from $51.0 million in FY2022. The company also announced new financing options, including issuing and selling up to an additional $22 million in common shares. Cybin has made significant progress in its two lead clinical programs, CYB003 and CYB004, and expects to submit CYB003’s Phase 1/2a Major Depressive Disorder data to the FDA in Q4. The company also announced the appointment of Sanford R. Climan as a strategic advisor.

Portfolio Pulse from Lara Goldstein

June 28, 2023 | 6:34 pm

TOST

Stephens & Co. analyst Charles Nabhan has reiterated an Equal-Weight rating and a $22 price target for Toast Inc (NYSE:TOST). The analyst believes that the company's $0.99 surcharge on orders over $10 could potentially increase its gross profit by ~4% annually and EBITDA, assuming the fees are not re-invested. However, the surcharge could also deter further adoption of online ordering and favor non-Toast platforms. The surcharge will be rolled out nationwide on July 10.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:32 pm

SIRI

SPOT

Benchmark analyst Matthew Harrigan reiterated a Buy rating for Sirius XM Holdings Inc (NASDAQ:SIRI) with a $6 price target. SiriusXM stock advanced 4.6% Tuesday, backed by the closure of the Stitcher podcast app. SiriusXM is migrating listeners to its SXM app ahead of a new streaming experience debuting later this year. The company is also looking to enhance the vehicular experience while transforming its product and perception from in-car listening consumption. SiriusXM has the potential to reach a double-digit stock price over Benchmark’s forecast through 2026.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:30 pm

ADDYY

DIS

LULU

NKE

UA

Lululemon Athletica (NASDAQ:LULU) has signed top NHL prospect Connor Bedard as a brand ambassador, as part of its strategy to grow its men's apparel business. The financial terms of the partnership have not been disclosed. Lululemon will be the exclusive apparel partner of Bedard, who will wear the company's training and lifestyle gear and provide feedback. The campaign is expected to be driven by social media, rather than television commercials.

Portfolio Pulse from Chris Katje

June 28, 2023 | 6:19 pm