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ZAPP

Zapp Electric Vehicles announced a reverse stock split, leading to its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:58 pm

DOGEUSD

SHIBUSD

Meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) experienced a downturn, with DOGE down 2% and SHIB slightly up by 0.2% over the past 24 hours. Despite a rise in Dogecoin's daily active addresses and a high correlation with Bitcoin, which is also down, both coins saw a decrease in large transaction volumes and SHIB's burn rate. However, the long-term outlook remains optimistic with expectations of a peak in the coming months and a notable interest in holding these coins.

Portfolio Pulse from Khyathi Dalal

April 17, 2024 | 6:57 pm

AVGO

Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Broadcom Inc (NASDAQ:AVGO) with a price target of $1,650, highlighting its leadership in generative AI computing and potential in the XPU market. Despite a $50 billion opportunity in computing and networking, adoption hesitancy remains. Broadcom's streamlined product offerings and market strategies are expected to enhance customer relations and business stickiness. Kumar notes Broadcom's technological lead in Switch Products and its strategic focus on scaling out. Barclays analyst Tom O'Malley also maintained an Overweight rating, raising the price target to $1,500. AVGO shares dropped 2.63% to $1,294.09.

Portfolio Pulse from Anusuya Lahiri

April 17, 2024 | 6:55 pm

BEEM

Beam Global's shares increased following the announcement of mixed financial results for Q4. The company's performance in the last quarter has attracted investor attention, leading to a positive movement in its stock price.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:55 pm

AGFY

Agrify's stock price is on the rise following the announcement that Nature's Miracle will acquire the company. This acquisition indicates a significant development for Agrify, potentially altering its market position and financial outlook.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:52 pm

ETCUSD

Ethereum Classic (ETC) experienced a 2.6% drop to $25.67 amid a broader decline in altcoins, influenced by a decrease in Bitcoin's price. Bitcoin's price movements often affect the sentiment in the cryptocurrency market, impacting other cryptocurrencies like Ethereum Classic. Technical similarities and changes between these cryptocurrencies can also influence their market perceptions.

Portfolio Pulse from Henry Khederian

April 17, 2024 | 6:46 pm

AMGN

AZN

REGN

SNY

Amgen Inc and AstraZeneca Plc's asthma drug Tezspire showed a 17% reduction in COPD exacerbations in a Phase 2a trial, not statistically significant but promising in certain subgroups. Compared to Sanofi SA and Regeneron Pharmaceutical Inc's Dupixent, which showed a 30-34% reduction in similar trials but only in patients with higher eosinophil counts, Tezspire's broader efficacy could expand its market. Despite the mixed results, the potential for Tezspire in COPD treatment is noted, with Amgen's stock slightly up.

Portfolio Pulse from Vandana Singh

April 17, 2024 | 6:39 pm

FCOM

META

XLC

Truist Securities analyst Youssef Squali maintained a Buy rating on Meta Platforms Inc (NASDAQ:META) and raised the price target from $525 to $550, citing improved ad targeting from AI investments. Squali increased revenue and EPS estimates for META, expecting strong performance in ad monetization and competitive advantages. Meta's stock has gained over 126% in the last 12 months, with exposure also possible through XLC and FCOM ETFs. Despite a slight decline in META shares by 0.78% to $495.88, the outlook remains positive with expected revenue and operating margin improvements.

Portfolio Pulse from Anusuya Lahiri

April 17, 2024 | 6:37 pm

AMZN

FTEC

MSFT

XLK

The European Union has decided not to conduct a formal investigation into Microsoft's $13 billion investment in OpenAI, citing that the deal does not constitute a takeover or give Microsoft control over OpenAI. This decision comes amidst concerns of regulatory scrutiny over the partnership. Additionally, Microsoft faces antitrust scrutiny in South Africa and a complaint in the EU regarding its cloud computing licensing practices, involving Amazon among the complainants. Microsoft's stock has seen a significant increase over the past year, despite a slight decrease in its latest trading session.

Portfolio Pulse from Anusuya Lahiri

April 17, 2024 | 6:37 pm

ZUO

Zuora shares are trading higher after reports emerged that the company is considering a sale due to takeover interest.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:36 pm