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TONUSD

Toncoin (CRYPTO: TON) has seen a 3.89% price decrease over the past 24 hours, dropping to $7.49. This contrasts with its 5.0% uptrend over the past week. Trading volume has fallen by 19.0% while the circulating supply increased by 0.16%, bringing the market cap to $18.41 billion.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 7:00 pm

BINANCE

HOOD

Dogecoin (DOGE) and Shiba Inu (SHIB) have been slipping in the crypto rankings despite a slight increase in meme coin market capitalization. Dogecoin dropped to the ninth position, and Shiba Inu fell to the 13th. Both coins face challenges, with Dogecoin not being integrated as a payment option on X (formerly Twitter) and Shiba Inu lacking real-world utility. Large transaction volumes for both coins have been noted, with significant transfers to and from major exchanges like Robinhood and Binance.

Portfolio Pulse from Khyathi Dalal

June 28, 2024 | 5:54 pm

TTWO

Dan Houser, Rockstar Games co-founder, explained why a Grand Theft Auto (GTA) movie never made sense due to high risks and lack of control. Despite various proposals, including one starring Eminem, Rockstar resisted Hollywood's lure. Strauss Zelnick, CEO of Take-Two Interactive (NASDAQ:TTWO), emphasized the need for complete creative control. GTA V's success and the anticipated release of GTA VI in 2025 highlight the franchise's monumental impact.

Portfolio Pulse from Franca Quarneti

June 28, 2024 | 5:53 pm

CMG

Raymond James analyst Brian M. Vaccaro reiterated an Outperform rating on Chipotle Mexican Grill Inc (NYSE:CMG) and raised the price target from $67 to $70. Despite viral social media posts questioning portion sizes and a softer consumer backdrop, Chipotle is sustaining strong comp and traffic outperformance. The company recently announced a 50-for-1 stock split. The analyst expects 2Q24 revenue to increase nearly 17% y/y to $2.94 billion and EPS to rise 22% y/y to $1.10.

Portfolio Pulse from Shivani Kumaresan

June 28, 2024 | 5:38 pm

MFG

MUFG

SMFG

Shares of Japanese banking stocks are trading higher due to strong economic data and the potential for rate hikes in July, driven by the weak Yen.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:32 pm

BKR

DIA

FSLR

KRE

NKE

QQQ

SPY

TAN

TLT

WOOF

XLE

XLU

Wall Street saw a mixed session with major indices slightly lower despite positive inflation data. The PCE price index fell to its lowest level since March 2021, aligning with economists' predictions and reinforcing expectations for potential interest rate cuts. Energy stocks outperformed, likely due to Trump's strong debate performance, while Treasury yields rose. Key movers included Nike, Petco, Baker Hughes, and First Solar.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 5:31 pm

PYPL

RBC Capital analyst Daniel Perlin reiterated an Outperform rating for PayPal Holdings Inc (NASDAQ:PYPL) with a price target of $84. Perlin's increased conviction in PayPal's profitable growth is based on new leadership, better transaction margins, and improved monetization strategies for Venmo and PayPal digital wallets. Wall Street analysts have an average 12-month price target of $74.21 for PayPal, with a high of $90 and a low of $65. PayPal shares traded lower by 0.34% at $58.17 on Friday.

Portfolio Pulse from Anusuya Lahiri

June 28, 2024 | 5:29 pm

SPY

The Dallas Fed's Trimmed Mean PCE Price Index rose 1.4% annualized in May, down from 2.7% in April. This indicates a slowdown in inflationary pressures.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:28 pm

AMD

IVW

NVDA

TSM

VGT

The semiconductor industry, led by Nvidia (NVDA) and AMD (AMD), saw a recovery after a Thursday pullback, driven by ongoing AI enthusiasm. TSMC (TSM) received government approval for $10.26 billion to build additional fabs in Japan and Arizona. Nvidia and AMD have nearly booked TSMC's 3nm process to full capacity through 2026. Nvidia's stock has surged 205% in the last 12 months, while AMD's stock has gained 48%. Investors can gain exposure to Nvidia via ETFs like VGT and IVW.

Portfolio Pulse from Anusuya Lahiri

June 28, 2024 | 5:25 pm

RIVN

VLKAF

Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive, Inc. (NASDAQ:RIVN), raising the price forecast to $20 from $13. Pierce sees Rivian as a long-term winner in the EV transition, highlighting its strategic focus on cost savings, supplier relationships, and factory efficiencies. The recent Volkswagen JV is expected to provide up to $5 billion in capital, boosting Rivian's software-defined vehicle strategy. Pierce also raised the FY24 revenue forecast to $4.563 billion from $4.254 billion. Despite these positive outlooks, RIVN shares are trading lower by 7% to $13.46.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2024 | 5:23 pm