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Stock Prices

NVDA

Nvidia Corp. (NASDAQ:NVDA) shares surged in premarket trading following a stellar quarterly performance, sparking speculation it could reach a $2 trillion market cap. The rally is attributed to Nvidia's leadership in AI technology. KeyBanc Capital Markets raised Nvidia's price target from $740 to $1,100, indicating a 63% upside potential. The company's first-quarter revenue guidance of $24 billion exceeded expectations, driven by strong Data Center revenue and demand for the H100 platform and InfiniBand. Analyst John Vinh remains optimistic about Nvidia's growth, particularly in the Data Center and Pro Viz segments.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 10:59 am

NICE

NICE has projected its Q1 Non-GAAP total revenues to be between $650M-$660M, surpassing the estimated $643.57M. Additionally, its Non-GAAP EPS is expected to be in the range of $2.40-$2.50, exceeding the forecast of $2.31.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 10:38 am

SEI

SOL

'Solana Killer' Sei (CRYPTO: SEI) has seen a significant rise of 55% in 2024, outperforming Solana (CRYPTO: SOL), which increased by 2%. Meme coins on both networks, like BONK and SEIYAN, have also seen substantial rallies. The Sei Network, a Layer 1 blockchain within the Cosmos ecosystem, achieved over $1 billion in trading volume shortly after its debut in August 2023.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 10:35 am

ETSY

GFI

LCID

NOVA

RAPT

RIVN

RUN

Rivian Automotive reported a Q4 loss and plans to reduce its workforce by 10%, leading to a 14.3% drop in pre-market trading. Other stocks like Etsy, Lucid Group, RAPT Therapeutics, Gold Fields, Sunrun, and Sunnova Energy also saw pre-market losses due to various reasons including mixed financial results, clinical holds, and weak quarterly results.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 10:28 am

NVDA

Nvidia Corp. CEO Jensen Huang predicts that every enterprise will eventually use Nvidia's AI 'operating system', as the company hits $1 billion in annualized revenue from its software and services segment. Nvidia's fourth-quarter earnings surpassed expectations, with $22.1 billion reported against an estimated $20.62 billion. Huang emphasizes the importance of Nvidia's software in accelerated computing and expects the company's AI Enterprise to become a significant business. Nvidia, holding over 70% market share in AI chips, sees high demand for its latest AI chip, the H100, and anticipates supply constraints for its next-generation products.

Portfolio Pulse from Rounak Jain

February 22, 2024 | 9:56 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) reported a 265% year-over-year revenue growth for Q4 but disclosed a potential risk in its 10-K report due to increasing customer concentration, with an unnamed 'Customer A' accounting for 13% of FY24 revenue. This concentration, along with indirect customer purchases, represented 19% of total FY24 revenue. The company also noted a shift in geographic revenue, with a decrease in sales outside the US, attributed to the U.S.-China chip ban. Despite these concerns, Nvidia's stock rallied 9.07% in after-hours trading following the announcement of its quarterly results.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 9:52 am

BTCUSD

ETHUSD

Analyst Michael van de Poppe predicts a long-term bullish sentiment for Bitcoin, suggesting it could reach $500K, but warns of potential corrections. He advises buying on corrections of 20% or more. Van de Poppe also sees a strong continuation for Ethereum. Galaxy Digital's CEO, Mike Novogratz, shares a bullish outlook, expecting Bitcoin to end the year much higher, especially if the Federal Reserve cuts rates.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 9:02 am

GOOGL

Google (NASDAQ:GOOGL) has entered into a $60 million annual deal with Reddit to use the social media platform's content to train its AI models. This agreement is part of Google's efforts to enhance its AI capabilities and comes as Reddit prepares for its IPO, aiming to diversify its revenue sources. The deal is significant amid Google's AI advancements and challenges, including criticism of its Gemini chatbot's performance.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 8:54 am

BZFD

BuzzFeed Inc (NASDAQ:BZFD) shares surged 137.42% to $0.52 after-hours following the announcement of selling Complex Networks to NTWRK for $108.6 million, a significant drop from its 2021 purchase price of nearly $300 million. The sale is part of BuzzFeed's strategic restructuring, which includes a 16% workforce reduction to enhance profitability and agility. This move reflects BuzzFeed's focus on its core brands and the broader financial challenges within the digital media industry.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 8:45 am

IDEXY

Industria De Diseno (OTC:IDEXY), Zara's parent company, is expanding its budget brand Lefties to compete with Shein's fast-fashion dominance. Lefties, initially an outlet for Zara's surplus stock, now operates in 17 countries and is leveraging social media marketing similar to Shein's strategy. This move comes as Shein faces valuation challenges, with its IPO and investor interest waning. Inditex's strategic focus on Lefties aims to capture value-conscious consumers and maintain competitiveness in the fast-fashion industry.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 8:13 am