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BABA

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower after reports of a second outage in its cloud unit within a month. The disruption affected customers in China, Hong Kong, and the U.S., impacting various database management products. The company, which holds a significant market share in China's cloud market, also faced a similar issue in November. Concerns over the reliability of Alibaba Cloud's services have been raised. Additionally, Alibaba halted plans to spin off its cloud business and closed its quantum computing lab, signaling cost-cutting efforts. BABA shares are down 16.1% YTD and dropped 1.0% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 12:00 pm

MRUS

Merus (NASDAQ:MRUS) has received 4 bullish analyst ratings in the last quarter with an average price target of $43.0, representing an upside from the current price of $24.21. This is a 4.44% decrease from the previous average price target of $45.00. Analysts typically review stocks quarterly or after major company updates, considering financial performance and market risks.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 12:00 pm

SHOP

Over the last quarter, Shopify (NYSE:SHOP) received 9 analyst ratings: 2 bullish, 2 somewhat bullish, 4 indifferent, 1 somewhat bearish, and 0 bearish. The average 12-month price target for Shopify is $62.56, with a high of $72.00 and a low of $55.00. This average has decreased by 1.01% from the previous target of $63.20. Analyst ratings are based on information from company calls, financial statements, and insider conversations.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 12:00 pm

LASR

Benchmark analyst Mark Miller has upgraded nLight (NASDAQ:LASR) from Hold to Speculative Buy and set a price target of $17.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:52 am

CTRN

Citi Trends anticipates its Q4 total sales to be roughly the same or to increase by a low-single-digit percentage compared to Q4 of the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:51 am

CTRN

Citi Trends has updated its full-year sales expectations, now anticipating a mid-single-digit decline. This is a slight downgrade from its previous forecast, which ranged from a negative mid-single-digit to a negative low-single-digit decrease.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:50 am

ZS

Needham analyst Alex Henderson has reaffirmed a Strong Buy rating on Zscaler (NASDAQ:ZS) and increased the price target from $210 to $225.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:48 am

CTRN

Citi Trends reported a significant decline in Q3 adjusted earnings per share (EPS) to $(0.56) from $0.24 year-over-year (YoY), and a 6.66% decrease in sales to $179.52M from $192.32M YoY.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:47 am

SWTX

The FDA has approved SpringWorks Therapeutics Inc's Ogsiveo for adult patients with progressing desmoid tumors, marking it as the first drug for this condition. The approval is based on the Phase 3 DeFi trial results, which showed a 71% reduction in the risk of disease progression and a 41% objective response rate compared to placebo. Ogsiveo will be available in the U.S. soon and a European application is expected in the first half of 2024. Analysts project U.S. sales of $3 million in 2023, $79 million in 2024, and peak sales of $544 million in 2032. SpringWorks' shares rose 9.24% in premarket trading.

Portfolio Pulse from Vandana Singh

November 28, 2023 | 11:43 am

ROI

Milton Ault, a 10%+ owner of RiskOn International, reported the purchase of 2,133 shares at an average price of $0.39 per share in a Form 4 filing on Monday.

Portfolio Pulse from Charles Gross

November 28, 2023 | 11:41 am