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SONY

Sony Group Corp. (NYSE:SONY) is preparing for the launch of the PS5 Pro, a more powerful version of its PlayStation 5 console, by the end of 2024. The PS5 Pro, codenamed Trinity, features significant upgrades including enhanced ray tracing, a faster CPU at 3.85GHz, and improved system memory with a 28% increase in bandwidth. It will also introduce PlayStation Spectral Super Resolution (PSSR) technology for better frame rates and image quality. Developers are encouraged to optimize games for the PS5 Pro, which may carry a 'Trinity Enhanced' label.

Portfolio Pulse from Franca Quarneti

April 15, 2024 | 6:28 pm

AVDX

BILL

AvidXchange Holdings, Inc (NASDAQ:AVDX) shares dropped after Goldman Sachs analyst Will Nance downgraded the stock from Neutral to Sell, reducing the price target from $13 to $11.50. The downgrade was due to a significant price increase of about 31% since the Q3 earnings report, leading to a negative risk-reward balance. Despite AVDX's leadership in B2B payment digitization, concerns were raised about its valuation compared to BILL Holdings, Inc (NYSE:BILL), and aggressive growth expectations. Nance highlighted AVDX's reliance on interest rate increases and political advertising for revenue growth, suggesting limited upside and potential for multiple compression.

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 6:21 pm

F

RIVN

TSLA

Rivian shares are trading lower, potentially due to Tesla's reported plans for layoffs and Ford's recent price reduction of the F-150 Lightning, impacting the competitive landscape for electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:19 pm

DOGE-USD

Dogecoin (CRYPTO: DOGE) experienced a 25% drop over the past week, leading traders to suggest buying opportunities in the high $0.10s. Influential traders highlighted a key resistance level at $0.17, suggesting a potential reversal if this level is breached with strong market acceptance. Despite the drop, 82% of Dogecoin holders remain in profit, though the coin's ranking slipped from eighth to ninth. Market data shows a decrease in daily active addresses and large transaction volume, indicating a cooling period that could precede a consolidation phase.

Portfolio Pulse from Khyathi Dalal

April 15, 2024 | 6:17 pm

MPC

Deep-pocketed investors show a divided sentiment on Marathon Petroleum (NYSE:MPC), with unusual options activity indicating both bullish and bearish positions. The activity involves 15 extraordinary options with a price window from $130.0 to $230.0. Notable trades include both calls and puts with varying sentiments and strike prices. Marathon Petroleum, an independent refiner, has seen its stock price slightly decrease by -0.56%, with a current price of $207.59. Analyst ratings are mixed, with a consensus target price of $205.4. The next earnings report is expected in 15 days.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:16 pm

ROKU

Recent options trading activity indicates a bullish sentiment towards Roku (NASDAQ:ROKU), with 60% of investors showing bullish expectations. The trading range for Roku's options is between $54.0 and $70.0. Significant trades include both calls and puts, with the largest being a bullish call at a strike price of $55.00, totaling $141.1K. Roku's current market status shows a trading volume of 1,844,078, with a price decrease of -1.44%, currently at $59.03. Analysts from Wells Fargo and Morgan Stanley maintain Underweight ratings on Roku, with target prices of $45 and $60, respectively.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:16 pm

MELI

Recent unusual options activity in MercadoLibre (NASDAQ:MELI) indicates a bearish sentiment among deep-pocketed investors, with a significant portion of activity suggesting expectations of price movements between $900 and $2100. The company, a major e-commerce player in Latin America, has seen a mix of put and call options, with a current stock price of $1411.21, down by -2.28%. Analysts from Citigroup and Barclays maintain positive outlooks with target prices of $1940 and $1800, respectively.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 6:16 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) experienced a 4% stock decline amid rumors of potential layoffs affecting up to 20% of its workforce and pre-earnings jitters. The market's reaction reflects concerns over Tesla's first-quarter delivery miss and the recent price cut for its full self-driving software subscription. Technical indicators suggest a strong bearish trend, with the stock trading below its key moving averages and other bearish signals such as a negative MACD and an RSI indicating oversold conditions. With Tesla's Q1 2024 earnings report approaching, investors are advised to exercise caution.

Portfolio Pulse from Surbhi Jain

April 15, 2024 | 6:14 pm

BLKB

Blackbaud's stock price increased following a proposal from Clearlake Capital Group to acquire the company for $80 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:06 pm

PVH

PVH Corp's stock is trading higher following an upgrade from Wedbush, moving from Neutral to Outperform.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:04 pm