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SAVA

Richard Barry, a director at Cassava Sciences, has purchased 18,477 shares at an average price of $16.67 per share, according to a Form 4 filing on Wednesday.

Portfolio Pulse from Charles Gross

August 24, 2023 | 9:33 am

GES

Guess? Inc. reported better-than-expected Q2 FY24 results and issued above-consensus FY24 EPS guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 9:29 am

WB

Weibo Corp reported an increase in its monthly active users (MAUs) to 599 million in June 2023, up by 17 million users YoY. Daily active users (DAUs) also increased to 258 million, up by 5 million users YoY. Mobile MAUs represented 95% of total MAUs.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 9:23 am

NVDA

TSM

Morgan Stanley analysts have identified several global stocks expected to benefit from the rising AI trend. The 2024 earnings forecasts for AI stocks have increased from their July 1 estimates. Nvidia Corporation (NVDA) and Taiwan Semiconductor Manufacturing Company (TSM) are among the top picks. NVDA is serving less than half of the current demand, indicating potential for growth. TSMC is expected to make 6% of its 2023 revenue from AI-related semiconductors.

Portfolio Pulse from Benzinga Neuro

August 24, 2023 | 9:23 am

AAPL

MSFT

Apple Inc. (NASDAQ:AAPL) has seen a decrease in its weighting in institutional portfolios by 26 basis points to 5.51% in Q2, according to Morgan Stanley's Erik Woodring. This marks the largest single quarter increase in Apple under-ownership since Morgan Stanley began tracking the data. Apple's under-ownership level has been unprecedented since 2008, surpassing Microsoft Corp. (NASDAQ:MSFT) as the least-owned large-cap tech stock among institutional investors. Woodring suggests that concerns regarding valuation versus short-term fundamentals may be contributing to this relatively low institutional ownership.

Portfolio Pulse from Shanthi Rexaline

August 24, 2023 | 9:23 am

STVN

Morgan Stanley analyst Drew Ranieri has downgraded Stevanato Gr (NYSE:STVN) from Overweight to Equal-Weight and set a price target of $34.

Portfolio Pulse from richadhand@benzinga.com

August 24, 2023 | 9:17 am

MIGI

Cantor Fitzgerald analyst Josh Siegler has downgraded Mawson Infra Gr (NASDAQ:MIGI) from Overweight to Neutral and lowered the price target from $12 to $1.

Portfolio Pulse from richadhand@benzinga.com

August 24, 2023 | 9:16 am

NVDA

Nvidia Corp.'s stock received a second price target boost this week from KeyBanc Capital Markets analyst John Vinh, who raised the target from $620 to $670, suggesting a 42% upside. This follows a stellar Q2 where Nvidia's Data Center revenues jumped over 170% YoY to a record $10.32 billion. The company also signaled that visibility extends into 2024, prompting it to seek additional suppliers and plans to increase supply each quarter through next year to meet demand.

Portfolio Pulse from Shanthi Rexaline

August 24, 2023 | 9:03 am

AAPL

AMZN

ZM

Zoom Video Communications Inc. CEO Eric Yuan has called for employees to return to the office, stating that it's not possible to build trust or have great conversations over Zoom calls. This comes despite Zoom being one of the biggest beneficiaries of the shift to remote work due to the Covid-19 pandemic. Other big tech companies like Apple Inc. and Amazon.com Inc. have also asked their employees to return to the office, contributing to a decline in demand for video conferencing solutions. As a result, Zoom laid off 1,300 employees, or 15% of its workforce, in February this year.

Portfolio Pulse from Rounak Jain

August 24, 2023 | 8:47 am

NTES

NetEase (NASDAQ:NTES) reported Q2 earnings of $1.91 per share, beating the analyst consensus estimate of $1.26 by 51.59%. This is a 56.56% increase from the same period last year. However, the company's quarterly sales of $3.31 billion missed the analyst consensus estimate of $3.46 billion by 4.30%, marking a 4.24% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:38 am