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MRVL

NVDA

OpenAI is reportedly considering building its own AI accelerator and diversifying its suppliers beyond Nvidia (NVDA). Despite this, Citi analyst Atif Malik predicts that Nvidia will maintain a ~90% share in the AI GPU market for the next 2-3 years. Marvell Technology (MRVL) is another AI player potentially looking to build its own AI accelerator.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 4:58 pm

CVX

Israel has temporarily suspended operations at a significant gas field managed by Chevron Corporation (NYSE:CVX) due to safety concerns amid escalating violence. Chevron continues to meet its clientele's demands in Israel and nearby regions through another initiative named Leviathan. The suspension comes at a time when Israel had declared its intentions to increase its gas exports from the Tamar field to Egypt. The future of this plan is uncertain due to the heightened tensions in the Middle East.

Portfolio Pulse from Shivani Kumaresan

October 09, 2023 | 4:57 pm

FBIO

Fortress Biotech, Inc. (NASDAQ:FBIO) has announced a 1-for-15 reverse stock split of its issued and outstanding common stock. The split is expected to commence trading on a split-adjusted basis on the Nasdaq Capital Market from October 10, 2023. The move is intended to bring the company into compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:57 pm

CCEP

Evercore ISI Group has maintained an Outperform rating on Coca-Cola Europacific Partners (CCEP) but reduced its price target from $75 to $70. This has led to a decrease in CCEP's share price.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:56 pm

SPOT

Spotify's shares are trading lower following a downgrade from Redburn Atlantic, which changed its rating from Buy to Neutral and reduced its price target from $170 to $160.

Portfolio Pulse from Bill Haddad

October 09, 2023 | 4:56 pm

AMZN

Amazon.com Inc. is set to increase pay for its UK operations workers and hire an additional 15,000 staff for the holiday season. The pay raise, effective from October 15, will benefit frontline workers, raising their hourly wages to between £11.80 and £12.50. Despite this, the GMB Union criticized the pay increase, citing ongoing issues with low pay, unsafe working conditions, and workplace surveillance. Amazon's shares traded lower by 0.86% at $126.85 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 4:55 pm

ALB

Albemarle Corporation's shares are trading lower after Wells Fargo maintained an Overweight rating on the stock but lowered its price target from $260 to $210.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 4:51 pm

ARM

NVDA

Analysts from Goldman Sachs, BMO Capital, Mizuho, and Rosenblatt initiated coverage on ARM Holdings Plc with bullish ratings, citing expected growth in AI, data centers, edge computing, and rising royalties. They predict ARM's revenue and EPS to grow significantly through FY26, with ARM's presence expanding in the smartphone market and other sectors. ARM's shares traded lower by 0.33% at $53.90 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 4:50 pm

PEP

PepsiCo is set to report its Q3 financial results on October 10, 2023, with analysts expecting a revenue of $23.43 billion and a profit of $2.15 per share. However, the company's sales and investor momentum could be affected by new weight loss drugs. Several analysts have lowered their price targets for PepsiCo, citing concerns about pricing, volume, and macro risks such as rising CPI levels and gas prices. PepsiCo's rival, The Coca-Cola Company, is also set to report earnings on October 24.

Portfolio Pulse from Chris Katje

October 09, 2023 | 4:49 pm

BIL

BILS

GBIL

SGOV

SHV

UTWO

XONE

The article discusses the rising interest in cash-like funds and ETFs, particularly U.S. Treasury bonds, which are currently offering an annual yield of around 5%. This is the highest yield these securities have offered since June 2007. The article also provides a list of seven U.S. Treasury ETFs that can generate a consistent monthly income of $500.

Portfolio Pulse from Piero Cingari

October 09, 2023 | 4:40 pm