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UBSFF

Microsoft Corp. (NASDAQ:MSFT) has completed its $69 billion acquisition of Activision Blizzard Inc (NASDAQ:ATVI), a move that is expected to reshape the gaming industry. The deal includes popular franchises like Call of Duty, World of Warcraft, and Overwatch. Activision's CEO, Bobby Kotick, confirmed his exit after the deal. The UK's Competition and Markets Authority approved the deal after it was restructured to sell Activision's streaming rights to Ubisoft Entertainment SA (OTC:UBSFF). However, the Federal Trade Commission (FTC) case against the merger is still pending.

Portfolio Pulse from Franca Quarneti

October 13, 2023 | 6:16 pm

AMAT

Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower due to concerns about inflation, rate hikes, and potential restrictions on Chinese companies accessing American AI chips. These factors could lead to a broader sell-off in the stock market and disrupt the global semiconductor supply chain, negatively impacting Applied Materials' revenue and stock price.

Portfolio Pulse from Henry Khederian

October 13, 2023 | 6:16 pm

AMAT

LRCX

Needham analyst Charles Shi has projected a growth in the Wafer Fab Equipments (WFE) sector, expecting it to reach $100 billion by 2025. Shi has upgraded Applied Materials, Inc. (AMAT) and Lam Research Corporation (LRCX) to 'Buy' from 'Hold', with price targets of $180 and $800 respectively. He believes AMAT's balanced exposure between memory and non-memory WFE will lead to growth in 2025, and LRCX will restore its market share to 15%+ by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

October 13, 2023 | 6:16 pm

INMD

Canaccord Genuity analyst Caitlin Cronin has downgraded InMode Ltd (NASDAQ:INMD) to Hold from Buy and lowered the price target to $22 from $55. This follows InMode's Q3 preliminary results and a lowered FY23 outlook. The company expects Q3 revenue of $122.8 million-$123.0 million and adjusted EPS of $0.59-$0.60. For FY23, INMD lowered revenue guidance to $500 million-$510 million from $530 million-$540 million. Cronin cites challenging economics and financing pressures as reasons for the downgrade.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 6:11 pm

RVMD

Revolution Medicines Inc (NASDAQ:RVMD) released preliminary data for its RMC-6236 and RMC-6291 cancer drugs from Phase 1/1b studies. The data, presented at the 2023 AACR-NCI-EORTC International Conference, showed promising results with acceptable safety profiles and evidence of clinical activity. Following the news, RVMD shares rose by 20.30%.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 6:09 pm

META

Mizuho analyst James Lee maintains a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $400. Lee's agency checks indicate ad revenue growth is tracking ahead of consensus and expects further operating leverage from increased efficiency. He projects 3Q revenue of $33.36 billion vs. consensus $33.52 billion. Despite investor concerns about FY24 opex guidance reaching 20% YoY growth, Lee believes the probability is low. META remains Lee's top pick in his coverage universe.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 6:02 pm

IBM

A significant amount of unusual options activity has been detected for IBM, with a bearish stance being taken by a majority of investors. Of the 10 strange trades detected, 70% were bearish and 30% bullish. The total amount for puts was $193,030 and for calls was $302,014. Whales have been targeting a price range from $130.0 to $150.0 for IBM over the last 3 months. The current price of IBM is down -1.59% at $139.0. RBC Capital has downgraded its action to Outperform with a price target of $188.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:01 pm

ATXS

Astria Therapeutics (NASDAQ:ATXS) has received four analyst ratings in the last quarter, all of which are bullish or somewhat bullish. The average price target is $20.25, indicating a significant upside from the current price of $6.4. However, this average has decreased by 14.45% from the previous target of $23.67.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:00 pm

DUOL

Duolingo (NASDAQ:DUOL) has received four analyst ratings in the last quarter, all of which are bullish or somewhat bullish. The average price target is $179.0, implying an upside from the current price of $174.82. This average has increased by 6.23% from the previous average price target of $168.50.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:00 pm

GOLD

Over the past 3 months, 5 analysts have published their opinion on Barrick Gold (NYSE:GOLD) stock. The average price target for the stock is $24.6, a decrease of 4.65% from the previous average price target of $25.80. The analysts' ratings are mostly bullish.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:00 pm