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Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) stock rose on Thursday following the resolution of a significant patent lawsuit involving AI technology and a new partnership with AI software startup Hugging Face. The lawsuit by Singular Computing claimed $1.67 billion, but the terms of the resolution were not disclosed. The partnership with Hugging Face will allow the startup to host its platform on Google Cloud, enhancing access to AI tools for developers and strengthening Google's ties with the open-source AI community. Google's AI focus is part of a broader trend among tech giants like Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Nvidia (NASDAQ:NVDA), who are heavily investing in AI technology.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 7:08 pm

DKNG

Jim Harbaugh has been appointed as the new head coach of the Los Angeles Chargers, following his success at the University of Michigan, including winning the 2023 NCAA Football Championship. Harbaugh's move to the Chargers has led to a change in the team's Super Bowl LIX betting odds on DraftKings Inc (NASDAQ:DKNG), improving from +3,000 to +2,500. The Chargers, who made the playoffs in 2022 but regressed in 2023, will look to Harbaugh's NFL coaching experience and success against the spread to improve their performance. The team will also need to address their running back situation, with both main running backs being free agents.

Portfolio Pulse from Chris Katje

January 25, 2024 | 7:04 pm

DECK

Wedbush analyst Tom Nikic has maintained an Outperform rating on Deckers Outdoor (NYSE:DECK) and increased the price target from $705 to $825, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:03 pm

AMD

NVDA

AMD stock is trading higher as UBS analyst Timothy Arcuri raised his price target to $220, citing confidence in AMD's data center GPU revenue opportunity. Arcuri's analysis is based on firm demand commitments for AMD's MI300A/X units and sufficient CoWoS capacity to compete with Nvidia. He projects AMD could reach $5 billion in data center GPU revenue this year and anticipates the company's EPS to annualize at $6+ exiting this year, growing to $8 by the second half of 2025. AMD's stock outperformed the broader indexes last year with a 143% gain.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 7:01 pm

XMRUSD

Monero (XMR) has seen a 3.51% increase in price over the last 24 hours, reaching $156.92. Over the past week, it has gained 1.0%, rising from $154.21. Despite the recent uptick, it remains far below its all-time high of $542.33. Trading volume has decreased by 13.0% over the past week, while the circulating supply has slightly increased by 0.05% to 18.15 million. Monero's market cap is currently ranked #29, valued at $2.84 billion.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 7:00 pm

TSLA

Wedbush analyst Daniel Ives has maintained an Outperform rating on Tesla (NASDAQ:TSLA) but has reduced the price target from $350 to $315.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:58 pm

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) shares are trading lower despite the company announcing six new innovations at the PayPal First Look keynote event. These include AI-driven personalization for merchants and consumers, reimagined checkout experiences, an advanced offers platform for merchants, a new consumer app with cash back, and enhanced business profiles for Venmo. The initiatives aim to transform commerce and capitalize on the growing digital commerce market, which is expected to exceed $6 trillion by 2024. Despite these announcements, PYPL shares dropped by 3.82% to $60.62.

Portfolio Pulse from Nabaparna Bhattacharya

January 25, 2024 | 6:58 pm

CMCSA

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ORCL

PARA

WBD

David Ellison's Skydance Media has made a preliminary offer to acquire National Amusements Inc., aiming to control Paramount Global (PARA). Discussions are ongoing, with financial exchanges taking place. Ellison plans to finance the deal with help from investors, including Larry Ellison and firms like KKR & Co. Paramount faces challenges with a declining share price and a $15 billion net debt. Warner Bros. Discovery (WBD) is also interested in acquiring Paramount, which could influence Shari Redstone's decision. PARA shares rose 3.89% to $13.88.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 6:56 pm

LKFN

Lakeland Financial's stock price has increased following the announcement of their Q4 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:51 pm

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WRB

Insurance company stocks have outperformed the S&P 500 in 2024, with the iShares U.S. Insurance ETF (IAK) rising 5% in January. The surge is attributed to the increasing costs of motor vehicle insurance, which have soared by 20.3% over the past year. The complexity and costliness of repairing high-tech vehicles, especially electric vehicles (EVs), are driving up insurance rates. EVs require more expensive repairs and longer repair times compared to traditional vehicles. The article lists top-performing insurance stocks year-to-date included in the iShares U.S. Insurance ETF.

Portfolio Pulse from Piero Cingari

January 25, 2024 | 6:49 pm