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AXTI

AXT, Inc. (NASDAQ:AXTI) shares surged premarket after reporting Q4 financial results that exceeded expectations. Revenue reached $20.4 million, surpassing the consensus of $17.6 million and showing improvement from previous quarters. Adjusted operating expenses decreased, and the company noted a widening operating loss. Despite a year-over-year decline in adjusted EPS, AXTI highlighted a recovery in its markets, particularly in demand for indium phosphide for AI and fiber optic applications, expecting AI to drive future demand.

Portfolio Pulse from Lekha Gupta

February 23, 2024 | 12:51 pm

GRI

OSA

PBLA

SINT

The article highlights the top 4 oversold health care stocks with an RSI near or below 30, indicating potential undervaluation. These include ProSomnus, Inc. (OSA), Panbela Therapeutics, Inc. (PBLA), Sintx Technologies, Inc. (SINT), and GRI Bio, Inc. (GRI). Each company has experienced significant stock price declines recently but shows signs of potential short-term recovery.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 12:50 pm

PSN

Parsons Corporation has updated its stock repurchase program, now authorizing up to $100 million in buybacks and eliminating the previous quarterly cap of $25 million. This move indicates the company's confidence in its financial health and a commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:49 pm

MAGS

NVDA

Nvidia Corporation's (NASDAQ:NVDA) latest earnings report has significantly increased chip demand for AI projects, boosting its stock and the Roundhill Magnificent Seven ETF (NASDAQ:MAGS), which includes Nvidia among its holdings. The MAGS ETF saw a 4% rise and record trading volume following Nvidia's earnings, with analysts optimistic about further growth in tech stocks, especially those related to AI. Despite concerns about market concentration and Nvidia's dependency on other Magnificent 7 companies, the outlook for Nvidia and the MAGS ETF remains positive.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 12:49 pm

AAOI

Applied Optoelectronics, Inc. (NASDAQ:AAOI) reported Q4 results with adjusted earnings of 4 cents per share and sales of $60.45 million, missing market estimates. The company forecasts a Q1 adjusted loss of 33 to 28 cents per share, with revenue expectations significantly below market estimates. Despite this, shares rose 6% to close at $20.35. Analysts from B. Riley Securities and Rosenblatt adjusted their price targets and ratings post-results.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 12:48 pm

NLSP

NLS Pharmaceutics announced it has submitted a plan to regain compliance with Nasdaq listing requirements. The company's efforts to meet Nasdaq's standards highlight its commitment to maintaining its listing and providing value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:45 pm

ATNM

Actinium Pharmaceuticals, Inc. announced positive results from the SIERRA trial for Iomab-B in TP53 positive relapsed refractory acute myeloid leukemia patients, presented at the 2024 Transplantation & Cellular Therapy Meetings of ASTCT And CIBMTR. The results highlight improved survival rates, marking a significant advancement in treatment options for this patient group.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:43 pm

SSP

E W Scripps (NASDAQ:SSP) reported Q4 earnings of $0.09 per share, missing the consensus estimate of $0.15 by 40%. Year-over-year, earnings decreased by 89.29% from $0.84. However, Q4 sales of $615.77M exceeded estimates by 2.29% but represented a 9.57% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:43 pm

ADI

NVDA

SONY

TSM

Taiwan Semiconductor Manufacturing Co (TSM) is driving a semiconductor investment boom in Japan, particularly in Kumamoto, attracting Taiwanese and Southeast Asian investors. This move, partly a response to U.S. sanctions on China, has also spurred the expansion of CTBC Bank and other Taiwanese banks into Japan to support the growing semiconductor market. TSMC's new facilities, including a second factory for 6-nm chips, are set to bolster Japan's semiconductor industry, with mass production aimed to supply major companies like Sony and Denso. Analog Devices, Inc (ADI) has also partnered with TSMC's subsidiary JASM for long-term wafer capacity. TSMC's stock has seen a significant increase, reflecting the positive market response to its expansion and the ongoing AI investment frenzy.

Portfolio Pulse from Anusuya Lahiri

February 23, 2024 | 12:36 pm

NVDA

QQQ

RSP

SMH

SPY

XLI

XLV

U.S. stocks are set for a mixed open after Thursday's rally, driven by Nvidia's strong quarterly results and Federal Reserve Governor Lisa Cook's comments on interest rates. The Nasdaq Composite and S&P 500 reached new highs, with IT stocks leading gains. Analysts suggest earnings will be a major market catalyst this year, with mixed views on the economy's direction and the Federal Reserve's actions. Premarket trading saw movements in several stocks due to earnings reports, with notable rises and falls.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 12:34 pm