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Stock Prices

NVDA

Piper Sandler analyst Harsh Kumar has reiterated an Overweight rating on NVIDIA (NASDAQ:NVDA) and maintained a price target of $620 for the stock.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:24 pm

BABA

BIDU

NVDA

TCEHY

Alibaba Group Holding Limited (NYSE:BABA) shares fell nearly 10% after announcing it will not spin off its cloud computing segment due to U.S. chip export restrictions. The restrictions have made it difficult for Chinese companies to obtain chips from U.S. firms, affecting Nvidia Corporation (NASDAQ:NVDA) and creating uncertainty for Alibaba's cloud prospects. Alibaba's quarterly report showed a 9% revenue increase, meeting expectations, but the bottom line fell short of estimates. Despite global uncertainty, Alibaba sees a more stable operating environment and plans a strategic review to focus on core businesses. Competition in AI, a key part of Alibaba's strategy, is intense with players like Tencent Holdings Limited (OTC:TCEHY) and Baidu Inc (NASDAQ:BIDU), as well as U.S. tech giants.

Portfolio Pulse from Upwallstreet

November 17, 2023 | 5:23 pm

USO

OPEC+ is reportedly considering deepening oil-output cuts at their next meeting on November 26, according to Reuters citing three OPEC+ sources. This potential decision could affect global oil supply and prices.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:20 pm

GPS

Gap Inc. (NYSE:GPS) reported Q3 earnings of $0.59 per share, surpassing the consensus estimate of $0.18. Sales were $3.767 billion, above expectations of $3.610 billion but down 7% from the previous year. Following the report, Gap's stock surged 30% to $17.76. Analysts from Telsey Advisory Group, Morgan Stanley, Wells Fargo, Goldman Sachs, and BMO Capital revised their price targets upwards while maintaining their respective ratings.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 5:19 pm

PACB

Pacific Biosciences (PACB) stock is trading higher following an upgrade from UBS, which changed its rating from Neutral to Buy. However, UBS also reduced the price target for PACB from $13 to $10.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:18 pm

KD

NXPI

SIMO

TSM

WDC

Institutional investors have shown increased interest in five tech stocks according to 13F filings. Western Digital Corp (WDC) partners with AMD, AVGO, MSFT, ORCL, SAP, and VMW, and its stock is up 46.48% YTD. Taiwan Semiconductor (TSM) serves major clients like NVDA, AMD, AAPL, ARM, AVGO, MRVL, MDTKF, and QCOM, with a 46.48% YTD increase. Silicon Motion (SIMO) works with INTC and MU, up 33.11% YTD. NXP Semiconductors (NXPI) serves the automotive and IoT sectors, up 29.51% YTD. Kyndryl Holdings (KD), an IBM spinoff, partners with MSFT and DOW, and is up 56.56% YTD.

Portfolio Pulse from Surbhi Jain

November 17, 2023 | 5:17 pm

ICVX

Icosavax's stock (ICVX) is trading higher following Guggenheim's initiation of coverage with a Buy rating and a price target of $28.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:17 pm

WDC

On CNBC, Bill Baruch announced that he has purchased shares of Western Digital (WDC).

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:16 pm

DRTS

Piper Sandler analyst Jason Bednar has maintained an Overweight rating on Alpha Tau Medical (NASDAQ:DRTS) but reduced the price target from $12 to $8.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 5:15 pm

SPGI

S&P Global Inc. (NYSE:SPGI) stock has risen by 15.86% over the past month and 16.73% over the past year, currently trading at $405.54. The company's P/E ratio of 52.53 is higher than the Capital Markets industry average of 41.57, which could suggest that it is overvalued or expected to perform better than its peers.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 5:15 pm