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In 2024, the U.S. tech industry has seen significant layoffs, with Tesla leading the charge by reducing its workforce by 14%. Other companies like Dell, Cisco, Xerox, PayPal, Microsoft, Unity, Wayfair, Expedia, and Google have also announced substantial layoffs. These workforce reductions reflect broader industry challenges and strategic realignments.

Portfolio Pulse from Surbhi Jain

June 24, 2024 | 2:20 pm

FXI

China's President Xi Jinping announced plans to guide financial capital towards investments in technology, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 2:13 pm

FXI

China's President Xi Jinping acknowledged that China's capacity for original innovation remains relatively weak and that some key core technologies are restricted by other countries.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 2:11 pm

BTCUSD

Mt. Gox will start repaying Bitcoin and Bitcoin Cash to clients starting in July 2024, potentially creating significant selling pressure on Bitcoin. Bitcoin prices have already dropped following the announcement.

Portfolio Pulse from Murtuza Merchant

June 24, 2024 | 2:09 pm

IYG

JPM

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JPMorgan Chase & Co. (NYSE:JPM) shares are trading higher following the announcement of expansion plans for its offices in Miami and West Palm Beach. The expansion is expected to stimulate significant economic activity in South Florida. Investors can also gain exposure to JPMorgan through ETFs like iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Portfolio Pulse from Lekha Gupta

June 24, 2024 | 2:08 pm

VHAI

Vocodia Holdings Corp (CBOE: VHAI) has received a Staff Delisting Determination from the CBOE BZX Exchange due to non-compliance with the Minimum Bid Price requirement and other listing standards. The company has filed an appeal.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 2:05 pm

CMG

Investors with significant capital have shown a bullish stance on Chipotle Mexican Grill (NYSE:CMG), as evidenced by recent options trades. Benzinga's options scanner detected 12 trades, with a majority being calls. Analysts have mixed ratings, but the consensus target price is $3587.6.

Portfolio Pulse from Benzinga Insights

June 24, 2024 | 2:04 pm

JPM

Recent options trading activity for JPMorgan Chase (NYSE:JPM) shows a split sentiment among big-money traders, with 55% bearish and 44% bullish positions. Notably, a significant put option trade worth $955,500 was observed. The price range being targeted is between $170 and $200. The current stock price is $197.69, up 0.71%.

Portfolio Pulse from Benzinga Insights

June 24, 2024 | 2:03 pm

TSM

Recent options trading activity for Taiwan Semiconductor (NYSE:TSM) shows a predominantly bearish sentiment among big-money investors, with 77% of trades being bearish. The trading activity suggests a price range of $160.0 to $190.0 over the next three months. Analysts have mixed ratings, with target prices ranging from $170 to $200.

Portfolio Pulse from Benzinga Insights

June 24, 2024 | 2:03 pm

VSTO

Vista Outdoor Inc. (NYSE: VSTO) shares are trading higher after the company announced an amendment to its merger agreement with Czechoslovak Group a.s. (CSG), increasing the base purchase price for The Kinetic Group business by $40 million to $2 billion. The amendment also raises the cash consideration for Vista Outdoor stockholders by $2.00 per share, from $16.00 to $18.00. The transaction is expected to close in 2024, pending necessary approvals.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 2:01 pm