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MSFT

Despite Microsoft Corp (NASDAQ:MSFT) reporting higher-than-expected quarterly results with significant growth in AI revenue, shares fell in early trading on Wednesday. Analysts from BMO Capital Markets, RBC Capital Markets, Piper Sandler, Truist Securities, and William Blair provided positive outlooks, with some raising their price targets due to strong Azure growth, particularly in AI workloads. AI-related revenue doubled sequentially, and although it represents a small portion of total revenue, it's seen as a key growth driver. Analysts expect AI to continue contributing to growth throughout the year.

Portfolio Pulse from Priya Nigam

January 31, 2024 | 5:10 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

XLK

The 'Magnificent Seven' tech giants, including AAPL, MSFT, GOOG, GOOGL, AMZN, META, NVDA, and TSLA, lost $300 billion in market value after disappointing earnings, particularly from Alphabet and AMD. The Nasdaq 100 index (QQQ) and Technology SPDR Select Sector Fund (XLK) also fell. The market is awaiting the Fed's interest rate decision and comments from Chair Jerome Powell, which could further impact tech stocks.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 5:10 pm

RNR

RenaissanceRe (RNR) shares are trading higher following the announcement of their Q4 results, which surpassed market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:06 pm

MANH

Manhattan Associates' stock is trading higher following the release of their Q4 results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:05 pm

NMR

Nomura Holdings, Inc. (NMR) shares are trading higher after the company reported its third-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:04 pm

FTTUSD

FTX, the bankrupt crypto exchange, has announced plans to fully repay its customers, abandoning the idea of 'FTX 2.0' due to lack of potential buyers. The exchange's native token FTT experienced an 11% surge followed by a 15% decline over the last 24 hours. Sam Bankman-Fried, FTX's former CEO, was convicted last year for misappropriating funds prior to the collapse.

Portfolio Pulse from Murtuza Merchant

January 31, 2024 | 5:03 pm

MKTX

MarketAxess Holdings' stock price is trading lower after the company reported its fourth-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 5:03 pm

RCL

Royal Caribbean Gr (NYSE:RCL) is expected to release its quarterly earnings report on February 1, 2024, with an estimated EPS of $1.13. Investors are looking for an earnings beat and positive guidance for future growth. Historically, RCL's stock price has shown mixed reactions to past earnings performances. Shares are currently trading at $126.36, up 84.51% over the last 52 weeks, indicating a bullish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 5:02 pm

BSIG

BrightSphere Investment (NYSE:BSIG) is expected to report an EPS of $0.58 in its upcoming quarterly earnings on February 1, 2024. Investors are looking for an earnings beat and positive guidance for the next quarter. In the past, BSIG has exceeded EPS estimates, leading to share price increases. However, over the last year, shares have declined by 10.13%, indicating bearish sentiment among long-term shareholders. The stock was trading at $22.5 as of January 30.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 5:02 pm

JHG

Janus Henderson Group (NYSE:JHG) is expected to release its quarterly earnings report on February 1, 2024, with analysts predicting an EPS of $0.54. Investors are looking for an earnings beat and positive guidance for future growth. Historically, JHG's stock price has reacted to past earnings performances, with a 2.9% increase after beating EPS last quarter. However, the stock has seen a 2.61% decline over the last 52 weeks, and long-term shareholders may be concerned. The stock was trading at $29.24 as of January 30.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 5:01 pm