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Stock Prices

RCM

R1 RCM shares have seen an increase in their trading value following an upgrade from Citigroup, moving from a Neutral to a Buy rating, with a new price target set at $16.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:24 pm

EQIX

Equinix shares fell by 5% in premarket trading following a report by short seller Hindenburg Research. The report likely raised concerns among investors, leading to a decrease in stock price.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:22 pm

NVDA

QQQ

SPY

TSLA

Despite fading hopes for a March rate cut by the Federal Reserve, the S&P 500 index remains near record levels, driven by the historic hype around AI. The SPDR S&P 500 ETF (SPY) closely tracks this performance. Adam Kobeissi attributes market resilience to AI's strength, despite the Fed's cautious stance on inflation and rate cuts. Earnings season showed positive results, with significant contributions from tech and AI companies like Nvidia, which added $1 trillion to its market cap. However, Tesla reported slowing demand. The Invesco QQQ Trust (QQQ) also saw a notable gain, outperforming SPY.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 1:22 pm

INTC

Intel Corp (NASDAQ:INTC) shares rose after signing a preliminary memorandum for up to $8.5 billion in funding under the CHIPS and Science Act for semiconductor projects. The deal includes options for federal loans up to $11 billion and potential tax credits for investments over $100 billion. This funding aims to bolster U.S. semiconductor innovation and supply chain resilience, with Intel planning significant job creation and multiple projects across states.

Portfolio Pulse from Adam Eckert

March 20, 2024 | 1:19 pm

NDAQ

Nasdaq, Inc. (NDAQ) shares are trading lower in premarket following Borse Dubai's secondary offering of 26.956 million common shares at $59 per share. Borse Dubai also granted underwriters a 30-day option for up to 4.04 million additional shares. Nasdaq will not receive any proceeds from this offering. The offering is expected to close on March 22, 2024, with Borse Dubai projected to hold about 10.8% of Nasdaq's outstanding shares post-offering, or 10.1% if the underwriters' option is fully exercised. NDAQ shares are down 3.86% at $60.05 in premarket trading.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 1:16 pm

BRNS

Barinthus Biotherapeutics (NASDAQ:BRNS) reported Q4 earnings, beating estimates with an EPS of $-0.45 against an expected $-0.5. However, revenue decreased by $6.46 million compared to the same period last year. Despite beating EPS estimates last quarter, the company's share price dropped by 7% the following day.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:15 pm

AVAV

FXI

SPY

UAVS

VISL

Lawmakers have requested the Biden Administration to increase tariffs on Chinese drones, according to Reuters. This move could potentially impact several US-listed companies and ETFs involved in drone technology or with significant exposure to Chinese markets.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:13 pm

NVDA

Goldman Sachs analyst Toshiya Hari has maintained a Buy rating on NVIDIA (NASDAQ:NVDA) and increased the price target from $875 to $1000.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 1:12 pm

FFND

TSLA

Gary Black, a Tesla bull and Future Fund's Managing Partner, suggests Tesla Inc. (TSLA) should invest in advertising to boost its volume growth, which has slowed due to higher interest rates and ineffective price cuts. Black proposes a $100M ad spend instead of $1B in price cuts, leveraging celebrities for free promotion of the Cybertruck while advertising other products to expand Tesla's market. Tesla's stock has fallen over 31% year-to-date, with no expected reprieve until a sub-$30,000 vehicle launch. Future Fund ETF (FFND) has recently reduced its Tesla holdings.

Portfolio Pulse from Shanthi Rexaline

March 20, 2024 | 1:10 pm

LWAY

Lifeway Foods (NASDAQ:LWAY) reported Q4 earnings, beating estimates with an EPS of $0.26 against the expected $0.21 and a revenue increase of $6.25 million year-over-year. This follows a pattern of surpassing EPS estimates in previous quarters, notably leading to a 39.0% share price increase after last quarter's earnings beat.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:10 pm