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BABA

BIDU

NVDA

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower due to reports of reducing orders for Nvidia Corp's (NASDAQ:NVDA) chips. This shift is attributed to Chinese companies' growing interest in local options and in-house developments. Major Chinese firms like Baidu Inc (NASDAQ:BIDU) and ByteDance are also turning to domestic chip producers such as Huawei Technologies. Despite this, Alibaba.com showcased its machine learning advancements at CES in Las Vegas, indicating a commitment to global expansion. Alibaba's stock value decreased by over 34% last year, and BABA shares were down 2.44% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 08, 2024 | 12:26 pm

ANF

Abercrombie & Fitch Co. has raised its Q4 net sales outlook from a low double-digit increase to a high-teens increase. Additionally, the company has improved its Q4 operating margin guidance from the previously expected range of 12-14% to around 15%.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:25 pm

AXP

Baird analyst David George downgraded American Express (NYSE:AXP) from Neutral to Underperform and set a price target of $190.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:25 pm

CTRN

Citi Trends reported a slight decrease in comparable store sales of 0.3% for the quarter-to-date period ending January 6, 2024. Despite this, the company has reaffirmed its 2023 guidance, including an expected year-end cash balance of $80M-$90M. Total sales for the quarter-to-date were $179.5 million, a slight decrease from $181.9 million in the same period the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:24 pm

COF

Baird analyst David George downgraded Capital One Financial (COF) from Outperform to Neutral and reduced the price target from $150 to $145, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:23 pm

HOWL

Werewolf Therapeutics, Inc. (HOWL) has updated its cash guidance, indicating sufficient funds through Q1 of 2025. The company is focusing on the development of its clinical assets, WTX-124 and WTX-330, with key updates from their INDUKINETM programs expected in 2024. Interim and preliminary data from Phase 1/1b and Phase 1 clinical trials for these assets are anticipated in the first and second quarters of 2024, respectively.

Portfolio Pulse from Charles Gross

January 08, 2024 | 12:19 pm

CBT

UBS analyst Joshua Spector has downgraded Cabot (NYSE:CBT) from Buy to Neutral and reduced the price target from $90 to $87, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:17 pm

OKTA

Mizuho analyst Gregg Moskowitz has downgraded Okta (NASDAQ:OKTA) from Buy to Neutral and set a price target of $85. This reflects a more cautious stance on the stock's near-term prospects.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:15 pm

KALV

NBBK

STAA

Insiders at STAAR Surgical, KalVista Pharmaceuticals, and NB Bancorp have made significant stock purchases, signaling potential confidence in their respective companies. STAAR Surgical's 10% owner Neal Bradsher acquired shares worth approximately $6.48 million, while KalVista Pharmaceuticals' 10% owner Nimish Shah purchased shares for about $720,543. NB Bancorp Director Muhammad Raza bought shares totaling around $50,031. These transactions may indicate an opportunity for investors to consider these stocks.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 12:13 pm

AMC

CRGE

GMM

The article discusses three oversold tech and telecom stocks with RSI values near or below 30, indicating potential undervaluation. Global Mofy Metaverse Limited (GMM) announced a $10 million follow-on offering, with its stock falling 51% over five days. AMC Entertainment Holdings, Inc. (AMC) disclosed exchange agreements for its common stock in exchange for $22.5 million of its subordinated notes, with its stock falling 17% over five days. Charge Enterprises, Inc. (CRGE) reported downbeat quarterly sales but highlighted growth in its Infrastructure segment, with its stock falling 28% over the past month.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 12:13 pm