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AFRM

HOOD

Affirm Holdings Inc (NASDAQ:AFRM) and Robinhood Markets Inc (NASDAQ:HOOD) stocks are trading higher in anticipation of the Federal Open Market Committee (FOMC) meeting. Investors are keen on the Fed's 'dot plot' and economic projections, which could indicate future monetary policy. Both companies, benefiting from lower interest rates, could see increased revenue and growth if the Fed adopts a dovish stance, reducing borrowing costs and stimulating consumer spending and investment.

Portfolio Pulse from Henry Khederian

March 20, 2024 | 3:24 pm

AMD

AMZN

ESPO

SPRX

AMD partners with Sony Semiconductor Solutions to enhance LiDAR technology in autonomous vehicles, leveraging AMD's adaptive computing technology. This collaboration aims to improve the performance of SSS's LiDAR systems, crucial for autonomous driving. KeyBanc analyst John Vinh noted AMD's modest growth, with a 1% month-on-month increase in processor instances, largely driven by Amazon AWS. Despite a decline in traditional server demand, AMD's outlook remains moderately optimistic. AMD's stock, which gained over 87% last year, is included in the VanEck Video Gaming And ESports ETF and Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:22 pm

AVGO

HACK

KKR

KNCT

Broadcom Inc's acquisition of VMware has raised concerns among Europe-based Cloud Infrastructure Service Providers due to changes in VMware's partnership program, including a shift to a subscription model. CISPE urges regulators to intervene, citing potential impacts on costs and competition. Meanwhile, Broadcom focuses on AI infrastructure development, expecting significant revenue from AI chip sales by 2024. The company's stock is part of the Amplify Cybersecurity ETF and Invesco Next Gen Connectivity ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:18 pm

NOVT

Novanta (NYSE:NOVT) has seen a decrease in short interest, now at 5.03% of its float, lower than the peer group average of 8.22%. This reduction from 1.57 million shares suggests a more bullish sentiment among traders, despite the high days-to-cover ratio of 12.89.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm

HSY

Hershey's (NYSE:HSY) short interest has decreased to 2.58 million shares, or 1.93% of float, indicating a potential shift in market sentiment towards more bullish views. The short interest decline from 7.21% since the last report suggests less bearish betting against the company. With a peer average short interest of 4.25%, Hershey's is below its industry's average, potentially signaling stronger relative confidence in its stock.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm

LBRDA

Liberty Broadband's (NYSE:LBRDA) short interest has decreased by 13.38%, now representing 1.36% of its float. This decline in short interest could indicate a more bullish sentiment towards LBRDA among traders. Compared to its peers, LBRDA has a significantly lower short interest percentage, with the average for its peer group being 7.93%.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 3:15 pm

CHAT

MAGS

The Bank of America Global Fund Manager Survey for March 2024 indicates a significant rise in investor optimism, with economic growth expectations at a two-year high and recession risks diminishing. This optimism has led to increased allocations to stocks, especially in Europe, emerging markets, and the financial sector, while reducing investments in U.S. equities and technology. The survey also reveals a division over AI stocks, with the 'Magnificent 7' being the most crowded trade. The Roundhill Magnificent Seven ETF (MAGS) and the Roundhill Generative AI & Technology ETF (CHAT) have seen substantial gains.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 3:10 pm

SMR

NuScale Power's shares continue to trade lower following a downgrade by Wells Fargo from Equal-Weight to Underweight, with a reduced price target from $7.50 to $4.50.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:07 pm

BLDE

Blade Air Mobility's stock is trading higher following the announcement of a $20 million share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:04 pm

JAGX

Jaguar Health's stock is trading higher following the announcement that GEN will commercialize Jaguar's crofelemer in Turkey and eight neighboring countries. Additionally, GEN will invest $2 million in Jaguar stock at a 75% premium to the market price.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:04 pm