Streetbeat News

Stock Prices

AMD

NVDA

TSM

Nvidia Corp is in advanced talks with Malaysian conglomerate YTL for a data center collaboration in Southeast Asia, focusing on cloud infrastructure and AI chips. Nvidia's CEO Jensen Huang visited Malaysia, highlighting the strategic importance of the region and potential significant investments in Singapore. Nvidia's revenue from Singapore was $2.7 billion in the last quarter, a notable increase. Despite a global chip market slowdown, Nvidia's demand for AI chips remains strong, benefiting Taiwan Semiconductor Manufacturing Co (TSMC), which saw a revenue downturn. Advanced Micro Devices (AMD) also expects the AI chip market to grow significantly.

Portfolio Pulse from Anusuya Lahiri

December 08, 2023 | 11:29 am

BLUE

Morgan Stanley analyst Jeffrey Hung has upgraded bluebird bio (NASDAQ:BLUE) from Underweight to Equal-Weight and increased the price target from $3 to $7.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 11:24 am

LULU

Barclays analyst Adrienne Yih has maintained an Overweight rating on Lululemon Athletica (NASDAQ:LULU) and increased the price target from $480 to $530.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 11:20 am

MOMO

Hello Group Inc (NASDAQ:MOMO) reported a Q3 FY23 net revenue decline of 5.9% Y/Y to $417.1 million, narrowly missing consensus estimates by $0.1 million. Adjusted net income per ADS was $0.42, beating the consensus of $0.35. MAUs on Tantan and paying users for both Momo and Tantan apps declined Y/Y. Live video service and value-added service revenues decreased, while mobile marketing and games revenues increased. The company expects Q4 revenue to decrease by 9.7% - 6.6% Y/Y, with the stock down 30.9% YTD but trading higher by 8.37% premarket.

Portfolio Pulse from Anusuya Lahiri

December 08, 2023 | 11:16 am

SPOT

Barclays analyst Mario Lu has maintained an Overweight rating on Spotify Technology (NYSE:SPOT) and increased the price target from $186 to $216.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 11:15 am

FENG

Phoenix New Media Limited (NYSE:FENG), a prominent new media company in China, has announced the renewal of its trademark license agreements with a subsidiary of its parent company, Phoenix Satellite Television Holdings Limited ('Phoenix TV'). The original agreements were established on December 8, 2017, and this renewal ensures the continued use of the trademarks by Phoenix New Media's affiliated consolidated entities.

Portfolio Pulse from Charles Gross

December 08, 2023 | 11:13 am

BX

DLR

Blackstone Inc (BX) and Digital Realty Trust Inc (DLR) have announced a joint venture to develop four hyperscale data center campuses with an estimated development cost of $7 billion. The campuses will be located in Frankfurt, Paris, and Northern Virginia, aiming to support 10 data centers with approximately 500 MW of IT load capacity. Blackstone will hold an 80% ownership interest with $700 million of initial capital contributions, while Digital Realty will hold a 20% interest and manage the operations. The joint venture is expected to close in H1 2024, subject to approvals. DLR shares rose 1.47% to $136, while BX shares fell 0.71% to $113.05 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 11:12 am

ENCP

Energem received a notice from Nasdaq on December 4 stating that the company no longer meets the minimum requirement of 400 shareholders for continued listing on the Nasdaq exchange, as disclosed in their 8-K filing.

Portfolio Pulse from Charles Gross

December 08, 2023 | 11:10 am

TCEHY

Tencent Holdings Ltd (OTC:TCEHY) is expanding its global presence with the introduction of 'Last Sentinel,' a console game developed by its Lightspeed LA studio. The game, led by Steve Martin, a former Rockstar Games executive, has been in development for four years and aims to create new intellectual properties. Tencent, which owns stakes in Riot Games and Epic Games, is diversifying its portfolio and recruiting global talent for its studios. The company's stock closed slightly lower at $39.55.

Portfolio Pulse from Anusuya Lahiri

December 08, 2023 | 11:05 am

AVTR

Avantor Inc (NYSE:AVTR) announced a new operating model and a multi-year cost optimization initiative at its investor day, aiming to transition from three geographic segments to two business segments: Laboratory Solutions and Bioscience Production. The company expects to achieve $300 million in cost savings by 2026 and reiterated its FY23 guidance with a core organic revenue decline and adjusted EBITDA margin contraction. Two executives will leave Avantor in 2024. AVTR shares closed slightly higher.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 10:48 am