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Stock Prices

SOL

BONK, a new dog-themed cryptocurrency, surged almost 1,000% recently but has dropped by over 40% from its all-time high. Analysts warn late investors of volatility, with Pentoshi predicting a 50% drop in price within 4-6 weeks. Michaël van de Poppe also suggests a potential correction, advising against buying at this point despite the broader Solana ecosystem's momentum.

Portfolio Pulse from Mehab Qureshi

December 21, 2023 | 11:00 am

C

Citigroup Inc is shutting down its global distressed-debt business as part of CEO Jane Fraser's strategy to exit poorly performing operations. The division, which deals with securities of companies near or in bankruptcy, employs around 40 people. The bank's recent restructuring, including senior management layoffs, has incurred about $1 billion in charges, mostly accounted for in the first three quarters. Citigroup's stock was up 0.54% at $50.34 in premarket trading on Thursday.

Portfolio Pulse from Lekha Gupta

December 21, 2023 | 10:58 am

MSFT

SONY

Sony Group Corp. anticipates a $1.5 billion loss by 2027 due to Microsoft Corp.'s acquisition of Activision Blizzard, viewing it as a threat to its console and subscription businesses. Internal documents from the Insomniac hack reveal Sony's concerns about Microsoft's potential to dominate with Activision's strategic assets. Despite Microsoft's commitment to provide Call of Duty on PlayStation for ten years, Sony fears Microsoft could manipulate release schedules to its advantage.

Portfolio Pulse from Rounak Jain

December 21, 2023 | 10:49 am

PNT

Brookline Capital analyst Kemp Dolliver downgraded POINT Biopharma Global (PNT) from Buy to Hold and reduced the price target from $27 to $12.5.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:47 am

META

Meta Platforms, Inc. (NASDAQ:META) experienced a 190% surge in stock price, marking its best year ever. The rally followed a year-long downtrend due to ad spending slowdown and competition. CEO Mark Zuckerberg's 'Year of Efficiency' strategy, including workforce reductions and cost management, led to a rebound. Meta's revenue grew by 12% year-over-year to $94.79 billion, with net income up 35% to $25.08 billion. The company anticipates higher spending in 2024 but remains optimistic due to potential lower interest rates and its AI initiatives. Analysts see an 11% growth potential with a price target of $388.43.

Portfolio Pulse from Shanthi Rexaline

December 21, 2023 | 10:45 am

FROG

Morgan Stanley analyst Sanjit Singh has upgraded JFrog (NASDAQ:FROG) from Equal-Weight to Overweight and increased the price target from $32 to $42.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:43 am

CRM

Morgan Stanley analyst Keith Weiss has upgraded Salesforce (NYSE:CRM) from Equal-Weight to Overweight and increased the price target from $290 to $350.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:41 am

AGAE

Knighted Pastures, a shareholder owning more than 10% of Allied Gaming & Entertainment (AGAE), reported the purchase of 163,534 shares at an average price of $1.43 per share. This transaction was disclosed in a Form 4 filing on Wednesday.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:40 am

MU

Barclays analyst Tom O'Malley has maintained an Overweight rating on Micron Technology (NASDAQ:MU) and increased the price target from $85 to $95, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:35 am

SPOT

Pivotal Research analyst Jeffrey Wlodarczak has upgraded Spotify Technology (NYSE:SPOT) from Hold to Buy and increased the price target from $170 to $265, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:32 am