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Stock Prices

TSLA

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla Inc (NASDAQ:TSLA) with a price target of $310. Jonas emphasized the importance of Tesla's AI investments and the upcoming June 13 shareholder vote, which could drive material volatility in the stock. He noted that Tesla's success in AI could lower the cost of capital for Elon Musk's other ventures, while failure could increase it.

Portfolio Pulse from Anusuya Lahiri

May 22, 2024 | 5:54 pm

MS

NVDA

Groq, a competitor to Nvidia, has enlisted Morgan Stanley to help raise $300 million. This move could impact Nvidia's market position and Morgan Stanley's financial activities.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:52 pm

HOLX

Hologic, Inc. has issued a recall for its Biozorb Marker due to reported complications and adverse events with the implanted devices, as announced by the FDA.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:47 pm

RBLX

Wealthy investors have shown a significant interest in Roblox (NYSE:RBLX) through options trading, with a split sentiment of 50% bullish and 50% bearish. The trades indicate a price window of $30.0 to $37.5 for Roblox. Analysts have mixed ratings, with price targets ranging from $35 to $48.

Portfolio Pulse from Benzinga Insights

May 22, 2024 | 5:46 pm

AFRM

BNO

SPY

SQ

USO

President Biden plans to release 1 million barrels of gasoline to address rising fuel prices. The Consumer Financial Protection Bureau (CFPB) has classified Buy Now Pay Later (BNPL) apps as credit cards, impacting companies like Affirm (AFRM) and Square (SQ). The Federal Reserve's minutes are set to be released at 2:00 p.m., which could influence market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:41 pm

GRMN

SNSR

UFO

Garmin Ltd. (NYSE:GRMN) shares are trading lower after BofA Securities analyst Ronald J. Epstein downgraded the stock to Underperform from Neutral and cut the price target from $165 to $150. Despite strong first-quarter performance, the analyst is concerned about decelerating momentum and unsustainable valuation. The AutoOEM segment is expected to reach breakeven in 4Q24, but growing Auto revenues may impact margins. Garmin stock has gained 55% in the last 12 months. Investors can gain exposure via Global X Internet Of Things ETF (NASDAQ:SNSR) and Procure Space ETF (NASDAQ:UFO).

Portfolio Pulse from Lekha Gupta

May 22, 2024 | 5:40 pm

AUID

AuthID (NASDAQ:AUID) reported its 1Q revenue, which was almost as high as its full-year 2023 revenue. The company provided guidance indicating that they expect quarterly revenue to double this year. The PPI and CPI data show mixed signals for inflation, with the PPI coming in higher than expected and the CPI slightly below expectations. Lyn Alden made a significant point about fiscal dominance, explaining how higher interest rates may not reduce inflation due to high government debt. DKI discussed the dollar's status as the world's reserve currency, noting that while institutional ownership of Treasuries is down, private foreign ownership is up.

Portfolio Pulse from Gary Brode

May 22, 2024 | 5:35 pm

TMUS

T-Mobile is raising prices on several of its older plans by up to $5 per line per month, affecting a small fraction of customers. The price hike is a response to rising costs and will appear on bills as early as June 5th.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:34 pm

TRNS

Transcat, Inc. (NASDAQ:TRNS) reported better-than-expected Q4 financial results, with adjusted earnings of 66 cents per share and sales of $70.913 million. Analysts from HC Wainwright & Co. and Oppenheimer raised their price targets for Transcat following the strong results.

Portfolio Pulse from Avi Kapoor

May 22, 2024 | 5:34 pm

GS

SPY

Goldman Sachs CEO David Solomon stated that he does not expect any rate cuts by the Federal Reserve this year. He described the U.S. economy as being in a 'slightly more fragile place' than a soft landing. Solomon noted that government spending and AI investments have mitigated the impact of higher rates on the U.S. economy. He also characterized the global economic environment as 'slow and sluggish.'

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:33 pm