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AAPL

GLD

NYCB

SOXX

The S&P 500 and Nasdaq 100 hit record highs, driven by tech stock surges and semiconductor demand. Despite a contraction in the ISM Manufacturing PMI, expectations for Federal Reserve rate cuts remain. The iShares Semiconductor ETF (SOXX) saw significant gains, while Apple (AAPL) was removed from Goldman Sachs' conviction list. New York Community Bancorp (NYCB) shares plummeted due to internal control issues. The SPDR Gold Trust (GLD) is set for record highs. Major ETFs like SPY, DIA, and QQQ also saw gains, with the Technology Select Sector SPDR Fund (XLK) outperforming.

Portfolio Pulse from Piero Cingari

March 01, 2024 | 6:30 pm

NVDA

SOUN

SoundHound AI Inc (NASDAQ:SOUN) received positive outlooks from Wedbush and Cantor Fitzgerald analysts despite a slight top-line miss in Q4 results. Wedbush raised its price target from $5 to $9, highlighting a 100% Y/Y increase in FY23 subscription and bookings backlog to $661.0 million, driven by product royalties and automotive segment strength. The company's FY24 revenue guidance aligns with expectations, and its acquisition of SYNQ3 Restaurant Solutions positions it as the largest U.S. voice AI provider for restaurants. Cantor Fitzgerald raised its price target from $3.60 to $5.80, noting the redefined backlog metric and the potential for continued growth above 40%. However, SOUN shares dropped 13.8% to $6.4.

Portfolio Pulse from Shivani Kumaresan

March 01, 2024 | 6:26 pm

TGT

BofA Securities analyst Robert F. Ohmes has reiterated a Buy rating on Target Corp (NYSE:TGT) with a price target of $160, despite expecting a comparable sales decline of (5%) for Q4, in line with Q3's performance. The analyst highlights potential for recovery in C2Q24, citing opportunities from cost recovery, strategic initiatives, and new private label brands. TGT shares are up 1.31% at $154.92.

Portfolio Pulse from Shivani Kumaresan

March 01, 2024 | 6:21 pm

ADIL

BIVI

FSR

Zscaler, Inc. (ZS) shares fell by 10.1% following its Q2 earnings report, despite better-than-expected results. Other stocks showed significant movement, with BioVie Inc. (BIVI) and Adial Pharmaceuticals, Inc. (ADIL) among the top gainers. Losers included GigCapital5, Inc. (GIA) and Fisker Inc. (FSR), with FSR dropping 44.6% due to concerns about its going concern status.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 6:19 pm

COCH

Envoy Medical's stock was halted due to a circuit breaker trigger after surging 69.4%. This significant increase suggests a highly positive market reaction to recent company developments or news.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:17 pm

ACMR

AMAT

AMD

AMKR

ASML

Semiconductor stocks are experiencing an uptick due to the overall strength in the tech sector and ongoing momentum in artificial intelligence.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:16 pm

CRWD

PANW

Cybersecurity stocks are trading lower following Zscaler's Q2 results announcement, indicating a negative market reaction to the company's performance.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:11 pm

CERT

Certara's stock price increased following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:10 pm

COCH

Envoy Medical's shares resumed trading after a circuit breaker halt, with the stock price surging by 44%. The halt was likely due to the rapid increase in stock price, a mechanism designed to prevent extreme volatility in the market. This significant rise in stock price indicates strong investor interest or reaction to recent company news or market events.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:03 pm

Analyst ratings for DuPont de Nemours (NYSE:DD) show a mix of opinions, with recent adjustments indicating a downward trend in price targets. The average 12-month price target is now $75.25, down 5.64% from $79.75. Analyst actions include both downgrades and upgrades, reflecting changing market dynamics and company performance. DuPont's financials reveal challenges in revenue growth and efficiency metrics, yet it maintains a strong market position with its specialty chemicals portfolio.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 6:02 pm