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COIN

GDS

GRPH

KC

In Monday's pre-market session, several stocks showed significant movement. GDS Holdings Limited (GDS) saw a sharp increase after reports of investment talks by Hillhouse Capital, Boyu Capital, and CDH Investments. Other stocks like Graphite Bio, Inc. (GRPH), Kingsoft Cloud Holdings Limited (KC), Revance Therapeutics, Inc. (RVNC), NuScale Power Corporation (SMR), Hesai Group (HSAI), MicroStrategy Incorporated (MSTR), Marathon Digital Holdings, Inc. (MARA), and Coinbase Global, Inc. (COIN) also recorded gains, with some driven by upcoming financial results and others by the strength in Bitcoin.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 9:50 am

SPY

Despite improvements in Americans' assessment of the economy and their personal financial situations, President Joe Biden's approval rating on economic management remains unchanged at 36%. A new poll indicates that 40% of respondents trust former President Trump over Biden (34%) for better economic handling. The U.S. economy has shown growth with a 3.2% GDP increase in 2023 and a robust job market, yet inflation remains a concern. The SPDR S&P 500 ETF Trust (SPY) reached a record high, reflecting economic optimism.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 9:46 am

AAPL

GOOG

An email exchange from the U.S. v. Google (2024) case reveals Google CEO Sundar Pichai's concerns over losing talent to Apple, particularly in the search domain. Pichai requested monthly reports on talent losses to competitors, emphasizing Apple. The document also mentions Google's payment to Apple to remain the default search engine on iPhones, which was $10 billion in 2020 and expected to rise to $15 billion. Additionally, Microsoft's failed attempt to sell Bing to Apple and the ongoing challenges Google faces, including the Gemini scandal and low employee morale, are highlighted.

Portfolio Pulse from Rounak Jain

March 11, 2024 | 9:13 am

XEL

Wolfe Research analyst Steve Fleishman upgraded Xcel Energy (NASDAQ:XEL) from Peer Perform to Outperform and set a price target of $58.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:59 am

STAA

Stifel analyst Thomas Stephan upgrades Staar Surgical (STAA) from Hold to Buy and increases the price target from $30 to $50.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:57 am

ADM

Archer-Daniels-Midland Company (ADM) is set to release its Q4 financial results on March 12, 2024, with analysts forecasting a decrease in earnings per share to $1.43 from $1.93 year-over-year and a revenue drop to $23.64 billion from $26.23 billion. Following a Q3 sales miss, ADM's stock gained 1%. Analysts from Goldman Sachs, Stifel, Barclays, BMO Capital, and Baird have revised their ratings and price targets for ADM, reflecting a cautious outlook.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 8:56 am

BILI

JP Morgan analyst Daniel Chen upgraded Bilibili (NASDAQ:BILI) from Underweight to Neutral and increased the price target from $10 to $11.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:54 am

AXR

CASY

CVGW

FTRE

ORCL

U.S. stock futures are trading lower, with focus on Fortrea Holdings, Oracle, AMREP, Calavo Growers, and Casey's General Stores due to earnings reports. Fortrea and AMREP have already reported, while Oracle, Calavo Growers, and Casey's are expected to report after the market closes. Fortrea and AMREP shares saw gains in after-hours and previous close, respectively, while Oracle and Casey's experienced slight movements, and Calavo Growers shares increased.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 8:38 am

IBM

Short-seller Jim Chanos criticized IBM for its rumored job cuts and questioned the company's growth prospects, highlighting AI as both a risk and opportunity for IBM's business model. The Register reported IBM is seeking voluntary redundancies, targeting mainly the Enterprise Operations & Support and Q2C missions, Finance & Operations. IBM's Q4 results showed a 4% revenue growth, and CFO Jim Kavanaugh discussed productivity initiatives and AI-driven efficiencies aiming for $3 billion in cost savings by 2024. IBM's stock closed down 0.30% at $195.95.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 8:12 am

NVDA

Goldman Sachs' analysis of a century's worth of data suggests the S&P 500 tends to rise after periods of high market concentration, despite current concerns over tech stock dominance. The analysis, highlighting historical resilience post-concentration peaks, counters fears of a tech bubble. Notably, the semiconductor sector, with companies like NVIDIA Corp (NASDAQ:NVDA), has shown strong performance, adding to the debate on market sustainability.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 7:33 am