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ANET

CSCO

INTC

JNPR

MRVL

NVDA

Susquehanna analyst Christopher Rolland maintains a Positive rating on Marvell Technology (MRVL) with a $70 price target, despite expecting in-line earnings and weaker guidance due to industry headwinds. Rolland highlights Marvell's AI strengths, particularly in PAM4 DSPs (Inphi), which benefit from Nvidia's (NVDA) demand. However, challenges in Storage, Carrier, and Networking may offset AI momentum. Other companies like Cisco (CSCO), Intel (INTC), AMD, Arista Networks (ANET), and Juniper Networks (JNPR) have mixed outlooks, with Cisco's guidance notably weaker. Marvell's gross margins are expected to expand in Q4 due to an improved mix.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 6:38 pm

AAPL

SONO

Sonos is preparing to launch high-end headphones priced over $400, positioning them to compete with products from Apple and Bose. Additionally, Sonos is planning to release a TV set-top box, a new version of its Roam speaker, and a fresh sound bar. These new products are part of Sonos' efforts to expand its product lineup and compete in the broader consumer electronics market.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 6:23 pm

CNTB

Connect Biopharma Holdings Limited (CNTB) reported positive Stage 2 trial results for rademikibart in treating moderate-to-severe atopic dermatitis, with high maintenance of efficacy at Week 52. The company also announced a partnership with Simcere Pharmaceutical for rademikibart's development and commercial rights in Greater China, including an upfront payment and potential milestones and royalties. Despite the positive news, CNTB shares dropped 31.8% to $1.41.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 6:20 pm

BIG

UBER

Uber Eats has partnered with Big Lots, marking the addition of the first national home discount retailer to its platform. This collaboration comes just in time for Black Friday, allowing customers to order and receive on-demand and scheduled deliveries of essential items from Big Lots through the Uber Eats app.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 6:01 pm

ETHUSD

On Monday, 8,543.67 Ether (ETH) valued at approximately $16.9 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -10.10% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 6:00 pm

F

Ford Motor Company (NYSE:F) is scaling back its investment in the BlueOval Battery Park Michigan, reducing the number of jobs created from 2,500 to 1,700 and the annual EV production capacity from 400,000 to 230,000 vehicles. The overall investment in the plant is also being cut from $3.5 billion to approximately $2 billion. This adjustment is part of Ford's broader reduction in its EV strategy, which includes delaying $12 billion in spending on battery-powered models. The company cites slower than expected EV adoption as a reason for the re-timing and resizing of investments.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 5:54 pm

VWAGY

Volkswagen AG has started operations at its first fully owned battery pack production facility in Hefei, China. This move is part of Volkswagen's strategy to expand its electric vehicle production in the world's largest auto market. The plant will begin mass production of electric models by the end of 2023, with an investment of approximately $208.01 million. CEO Oliver Blume is aiming for a €20,000 EV by the latter half of the decade. Volkswagen shares are currently trading down by 2.78% at $12.87.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 5:45 pm

GE

GE Vernova, a division of General Electric Co (NYSE:GE), has signed a memorandum of understanding with Next Hydrogen Solutions Inc. to produce green hydrogen by integrating Next Hydrogen's electrolysis technology with GE Vernova's power systems. This partnership aims to drive the hydrogen revolution and contribute to decarbonization across various industries. The initial phase includes installation, testing, and integration of Next Hydrogen's water electrolyzer with a GE Vernova power supply, with advanced power systems expected to launch in 2024. GE's stock saw a slight decline of 0.29% to $119.72.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 5:39 pm

DELL

Citi analyst Asiya Merchant maintains a Buy rating on Dell Technologies Inc (DELL), citing optimism in PC demand and AI server prospects. Dell's stock has outperformed peers and trades at a modest premium. The company is well-positioned in its core markets, with disciplined operational expense management, improving free cash flow, and a focus on shareholder returns. The inclusion in the S&P 500 is seen as a potential catalyst. Dell shares were up 0.45% at $73.69 in the last check.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 5:33 pm

MSFT

Analysts are optimistic about Microsoft's AI future after hiring Sam Altman, previously fired by OpenAI. Piper Sandler and Mizuho analysts maintain positive ratings on Microsoft with price targets of $425 and $420, respectively. The hiring is seen as a strategic move to control Microsoft's AI destiny and build an end-to-end AI stack. However, there is uncertainty about OpenAI's future, with concerns of rapid value destruction. Microsoft's Q2 revenue and EPS projections are slightly above and below consensus, respectively. MSFT shares saw a slight premarket decline.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 5:13 pm