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BILI

JP Morgan analyst Daniel Chen upgraded Bilibili (NASDAQ:BILI) from Underweight to Neutral and increased the price target from $10 to $11.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:54 am

AXR

CASY

CVGW

FTRE

ORCL

U.S. stock futures are trading lower, with focus on Fortrea Holdings, Oracle, AMREP, Calavo Growers, and Casey's General Stores due to earnings reports. Fortrea and AMREP have already reported, while Oracle, Calavo Growers, and Casey's are expected to report after the market closes. Fortrea and AMREP shares saw gains in after-hours and previous close, respectively, while Oracle and Casey's experienced slight movements, and Calavo Growers shares increased.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 8:38 am

IBM

Short-seller Jim Chanos criticized IBM for its rumored job cuts and questioned the company's growth prospects, highlighting AI as both a risk and opportunity for IBM's business model. The Register reported IBM is seeking voluntary redundancies, targeting mainly the Enterprise Operations & Support and Q2C missions, Finance & Operations. IBM's Q4 results showed a 4% revenue growth, and CFO Jim Kavanaugh discussed productivity initiatives and AI-driven efficiencies aiming for $3 billion in cost savings by 2024. IBM's stock closed down 0.30% at $195.95.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 8:12 am

NVDA

Goldman Sachs' analysis of a century's worth of data suggests the S&P 500 tends to rise after periods of high market concentration, despite current concerns over tech stock dominance. The analysis, highlighting historical resilience post-concentration peaks, counters fears of a tech bubble. Notably, the semiconductor sector, with companies like NVIDIA Corp (NASDAQ:NVDA), has shown strong performance, adding to the debate on market sustainability.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 7:33 am

BTCUSD

Bitcoin's recent surge has sparked optimism for the revival of the broader cryptocurrency market, despite a report revealing 72% of crypto projects since 2020 have failed. The introduction of spot Bitcoin ETFs in the U.S. and Bitcoin's price reaching an all-time high have contributed to renewed interest in the crypto space. Analysts predict Bitcoin could hit $100,000 by year-end, with factors like ETF inflows, the upcoming halving, and looser interest rates playing a role. Cathie Wood of ARK Invest forecasts a Bitcoin price of $600,000 by 2030, while hedge fund manager Bill Ackman considers Bitcoin as an inflation hedge.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 6:54 am

BA

DAL

UAL

Delta Air Lines Inc. CEO Ed Bastian anticipates a delay in the delivery of Boeing Co.'s 737 Max 10 aircraft until 2027, a further postponement from the initially expected 2025. This delay is amid Boeing's ongoing safety and criminal reviews. United Airlines Holdings has also adjusted its fleet plan due to the delays, considering alternatives to the Max 10. Boeing's 737 Max series faces intense scrutiny and safety concerns, impacting trust and operational plans for airlines like Delta.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 6:28 am

IMAX

During the 96th Academy Awards, 'Oppenheimer' co-producer Emma Thomas thanked IMAX Corp CEO Richard Gelfond in her acceptance speech for Best Picture. This acknowledgment highlights IMAX's significant contributions to the film industry, especially following the success of 'Dune: Part Two'. The movie's global opening contributed over $32 million to IMAX, accounting for 18% of the global box office, which has positively impacted IMAX's stock. Analysts, including Wedbush's Alicia Reese, foresee further growth for IMAX, emphasizing its expanding role in the industry.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 3:55 am

KLAC

NVDA

TSM

KLA Corp (NASDAQ:KLAC), a semiconductor equipment company, is highlighted by fund manager Stephanie Niven as benefiting from the AI boom due to its role as a supplier to Taiwan Semiconductor (NYSE:TSM), which manufactures AI chips for NVIDIA Corp (NASDAQ:NVDA). KLA's focus on reducing manufacturing errors and wastage aligns with sustainability goals, contributing to its stock surge of 25% in 2024 and 89% over the past year. Despite concerns of a potential near-term drop due to its significant price increase, analysts remain bullish on KLA's fundamentals.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 3:51 am

TSLA

TSM

Cathie Wood's Ark Invest projects a $28 trillion opportunity in AI, highlighting sectors like autonomous vehicles and drone technology. Tesla Inc (TSLA) is noted for its advancements in self-driving technology, with Ark setting a target price of $200 for TSLA shares. The firm also emphasizes the growing importance of drone technology across industries. Despite selling Nvidia shares, Ark Invest continues to invest in key suppliers like Taiwan Semiconductor Manufacturing Company Ltd. (TSM), maintaining a bullish outlook on AI and transformative technologies.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 2:10 am

NVDA

NVIDIA Corp is facing a lawsuit filed by authors Brian Keene, Abdi Nazemian, and Stewart O’Nan for allegedly using their copyrighted works without permission to train its AI platform, NeMo. The lawsuit seeks damages for the use of copyrighted works in the US to train NeMo's large language models over the last three years. Despite the legal challenge and other market concerns, Nvidia's stock has surged by almost 600% since the end of 2022, reaching a market value of nearly $2.2 trillion.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 1:11 am