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DVN

Morgan Stanley analyst Devin McDermott upgraded Devon Energy (NYSE:DVN) from Equal-Weight to Overweight and increased the price target from $48 to $52.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:54 pm

AAPL

GOOG

GOOGL

Alphabet Inc's Google and Apple Inc are both delving into AI-powered life narratives using Large Language Models (LLMs). Google's 'Project Ellmann' aims to analyze mobile phone data to narrate a user's life story, potentially integrating with Google Photos and featuring an interactive chat. Google has also integrated its advanced AI model, Gemini, into its chatbot Bard and plans to extend it to other products. Apple is advancing its AI through the Photos app and the upcoming Journal App, enhancing LLMs with data like facial recognition and thematic photo categorization. GOOG shares closed lower by 1.31% at $136.64 on Friday.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 12:53 pm

OXY

Morgan Stanley analyst Devin McDermott upgraded Occidental Petroleum (NYSE:OXY) from Equal-Weight to Overweight and set a price target of $68.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:53 pm

Macy's stock is trading higher after reports of a $5.8 billion buyout offer from an investor group.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:48 pm

SFM

UBER

Sprouts Farmers Market Inc (SFM) has announced that its products are now available for delivery through Uber Eats in Florida, with plans to expand to all Sprouts locations by year-end. The service offers over 15,000 products, including organic and specialty items. The partnership aims to increase accessibility to Sprouts' healthy offerings. SFM shares closed slightly lower on Friday.

Portfolio Pulse from Shivani Kumaresan

December 11, 2023 | 12:46 pm

BABA

PDD

PDD Holdings (NASDAQ:PDD) is experiencing a surge in stock options activity, with a nearly even split between bullish and bearish bets by investors. Despite recently surpassing Alibaba Group Holding Ltd. (NYSE:BABA) in market value, PDD faces skepticism due to concerns about its pricing sustainability and customer retention, as noted by Morgan Stanley analysts. PDD's revenue growth is acknowledged, but Alibaba's challenges, including leadership changes and delayed spinoff plans, are also affecting the market. Alibaba's ADR stock has declined this year, while PDD's stock has seen a significant increase.

Portfolio Pulse from Pooja Rajkumari

December 11, 2023 | 12:43 pm

OXY

Occidental (OXY) plans to increase its quarterly common stock dividend from $0.18 to $0.22 per share starting February 2024. The company also announced the acquisition of CrownRock's assets, which is expected to add scale in the Midland Basin and drive value creation for shareholders with immediate free cash flow accretion. Occidental's CEO Vicki Hollub expressed confidence in integrating CrownRock's team and continuing Occidental's operational and financial success. CrownQuest Operating CEO Tim Dunn praised the acquisition as beneficial for all parties involved.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:43 pm

BBY

GOOG

KEY

PAYC

Insiders at Best Buy, KeyCorp, Alphabet, and Paycom Software have recently sold significant amounts of shares. Best Buy's 10% owner sold shares worth $21.61 million, KeyCorp's Chief Accounting Officer sold shares for $192,300, Alphabet's CEO sold shares worth $2.97 million, and Paycom Software's Chief Administrative Officer sold shares totaling $1.66 million. These sales could indicate various things, including personal financial management or a lack of confidence in the company's future prospects. However, insider sales are not the sole indicator for investment decisions.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 12:42 pm

META

Meta Platforms Inc. (NASDAQ:META) has launched a new tagging feature in its Threads app to improve user experience and reduce spam. The feature, which allows users to tag topics in posts, was successfully trialed in Australia and is now rolling out globally. Unlike traditional hashtags, Threads' tags appear as blue text and can include spaces and special characters. The app limits users to one tag per post to minimize spam and focuses on community building over 'engagement hacking'. Threads has seen a significant increase in downloads, surpassing X (formerly Twitter), with 41 million new downloads since September.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 12:37 pm

AVGO

CAMT

CBRL

SAIC

Wall Street analysts have made recent stock picks, with the most accurate analysts according to Benzinga Analyst Stock Ratings highlighted. Keybanc's Philip Gibbs initiated coverage on Worthington Steel, Inc. (WS) with an Overweight rating and a price target of $29. Truist Securities' William Stein maintained a Buy rating on Broadcom Inc. (AVGO) and raised the price target to $1,015. B. Riley Securities' Craig Ellis upgraded Camtek Ltd. (CAMT) to Buy and increased the price target to $75. Piper Sandler's Brian Mullan maintained a Neutral rating on Cracker Barrel Old Country Store, Inc. (CBRL) and cut the price target to $75. JP Morgan's Seth Seifman downgraded Science Applications International Corporation (SAIC) to Neutral and raised the price target to $142.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 12:36 pm