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NVDA

NVIDIA Corp (NASDAQ:NVDA) experienced a significant drop on Friday, following a period of remarkable growth where its stock reached an all-time high of $974, marking a 75% increase since the start of the year. This decline, by 11% from its peak, highlights the volatility and risks of high-momentum stocks, particularly in the tech sector driven by AI advancements. The current situation is seen as a correction, with the next support level at the daily 20 simple moving average around $800.

Portfolio Pulse from Zaheer Anwari

March 12, 2024 | 2:12 pm

BCAN

BLDE

CLRO

NRXP

PACK

RGLS

U.S. stocks traded higher with the Dow gaining 0.27% and the Nasdaq up by 0.69% amid news of U.S. inflation rate rising to 3.2% in February, surpassing expectations. ClearOne, Regulus Therapeutics, and Ranpak Holdings reported significant stock movements due to corporate announcements, while BYND Cannasoft, Blade Air Mobility, and NRx Pharmaceuticals saw declines.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 2:11 pm

ARKK

COIN

SARK

TARK

Coinbase (NASDAQ:COIN) shares hit a 3-year high as Bitcoin surpasses $72,000, driving renewed interest in crypto. COIN's recovery is attributed to exceeding earnings expectations and cost-cutting measures, leading to a nearly 60% increase in stock price. Goldman Sachs raised COIN's price target to $282. Cathie Wood's ARK Innovation ETF (NYSE:ARKK), where COIN is the largest holding, benefits from this surge. ARKK's leveraged counterpart, AXS 2X Innovation ETF (NASDAQ:TARK), and its inverse, AXS Short Innovation Daily ETF (NASDAQ:SARK), offer additional trading strategies.

Portfolio Pulse from Johnny Rice

March 12, 2024 | 2:10 pm

LUV

ORCL

February's CPI figures exceeded expectations, impacting market sentiment. Oracle (ORCL) saw a surge due to a positive outlook on its Gen2 AI infrastructure. Conversely, Southwest Airlines (LUV) experienced a decline after revising its fuel cost outlook upwards.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:05 pm

NVDA

ORCL

Oracle Corp. (NYSE:ORCL) reported a 29% year-on-year increase in its revenue performance obligation (RPO) to $80 billion, attributed to 'hypergrowth' in AI. CEO Safra Catz teased a forthcoming announcement with Nvidia Corp. (NASDAQ:NVDA), highlighting the AI revolution's momentum. Analyst Dan Ives of Wedbush is optimistic about the AI sector, noting Oracle's performance and the potential ripple effect of Nvidia's GPUs on tech spending. Oracle's stock surged 12.15% following the earnings call.

Portfolio Pulse from Rounak Jain

March 12, 2024 | 2:04 pm

SMXT

Trading of Solarmax Technology shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:02 pm

BOXL

Boxlight (NASDAQ:BOXL) is scheduled to release its quarterly earnings report on March 13, 2024, with an estimated EPS of $-0.63. Analysts and investors will be closely watching for any positive guidance for the next quarter, especially considering Boxlight's history of not meeting EPS estimates, which has previously led to significant drops in share price. The company's shares have decreased by 77.4% over the last 52 weeks, indicating a bearish outlook from long-term shareholders.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:01 pm

ACDC

ProFrac Holding (NASDAQ:ACDC) is scheduled to release its quarterly earnings report on March 13, 2024, with an estimated EPS of $0.02. Despite past earnings misses, the company's stock price has shown varied responses to earnings reports. Shares are currently trading at $7.82, reflecting a 46.54% decline over the last year. Investors are looking for positive guidance for the next quarter.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:01 pm

SHCR

Sharecare (NASDAQ:SHCR) is anticipated to report a Q4 earnings per share (EPS) of $-0.06 on March 13, 2024. Analysts and investors will be looking for an earnings beat and positive guidance for future growth. The company's past earnings performance shows mixed results with both beats and misses, leading to varied stock price reactions. Over the last year, SHCR shares have declined by 56.99%, indicating potential investor concern ahead of this earnings release.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:01 pm

GBLI

Global Indemnity Group (NYSE:GBLI) is scheduled to release its quarterly earnings report on March 13, 2024. Analysts predict an EPS of $0.54. The company's past earnings performance shows a mix of misses and beats, with the stock price reacting variably. Shares have increased by 8.28% over the last 52 weeks, indicating a generally positive outlook from long-term shareholders.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:01 pm