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Amid concerns of a slowdown in AI projects, JP Morgan analyst Samik Chatterjee highlights a market rotation favoring Coherent Corp, Lumentum Holdings, and Cisco Systems as potential growth stocks, despite dips in Dell Technologies, Arista Networks, and Fabrinet. The shift is attributed to market share dynamics in the optics industry and strategic partnerships, like Cisco's with NVIDIA, rather than a decline in AI infrastructure deployments. Fabrinet's unique position in NVLink/InfiniBand connectivity and optimism in the Telecom sector are also noted.

Portfolio Pulse from Surbhi Jain

February 07, 2024 | 10:47 pm

NTGR

NETGEAR has announced its expected Q1 net revenue to be in the range of $155M-$170M, which is below the estimated $176.77M by analysts.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:46 pm

RPD

Rapid7 announced its Q1 adjusted EPS to be between $0.52-$0.55, surpassing the estimated $0.40, with revenue projections of $203M-$205M, closely aligning with the $204.94M estimate. For FY24, the company forecasts an adjusted EPS of $2.10-$2.21, exceeding the $1.79 estimate, but anticipates revenues of $848M-$856M, slightly below the $870.23M expectation.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:40 pm

FCX

IE

The global copper market is expected to see a balance in 2024 with demand recovery and supply tightening, according to JPMorgan. Key indicators include a 1.2% increase in global output and a significant drop in spot treatment charges, indicating a tight market. JPMorgan's bullish outlook is supported by a 3.5% growth in China's demand and recovery in the Rest of the World. Freeport-McMoRan Inc (FCX) and Ivanhoe Electric Inc (IE) are highlighted as U.S. traded stocks with significant upside potential.

Portfolio Pulse from Surbhi Jain

February 07, 2024 | 10:37 pm

MKSI

MKS Instruments forecasts Q1 revenue to be around $840M, with a possible variation of $40M, falling short of the estimated $852.31M. The company also anticipates an adjusted EPS of $0.72, with a possible variation of $0.25, below the estimated $0.81.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:37 pm

APPS

Digital Turbine Inc (NASDAQ:APPS) reported a decline in fiscal Q3 earnings with revenue of $142.6 million, a 12% decrease year-over-year, missing analyst estimates. Adjusted earnings per share fell to 15 cents from 29 cents. The company cited weaker U.S. device upgrade rates and temporary platform consolidation as near-term challenges but remains optimistic about future growth opportunities, especially in alternative app distribution. Digital Turbine anticipates full-year 2024 revenue between $547 million and $553 million, with adjusted earnings per share of 50 to 54 cents. Shares fell 16.67% after hours to $4.20.

Portfolio Pulse from Adam Eckert

February 07, 2024 | 10:36 pm

TTGT

TechTarget announced its Q1 GAAP revenue projection to be between $50M-$52M, which is below the estimated $52.21M.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:36 pm

MKSI

MKS Instruments projects its Q1 revenue to be around $840M, with a possible variation of $40M, falling short of the estimated $852.31M. The company also forecasts an adjusted EPS of $0.72, with a possible variation of $0.25, which is below the estimated $0.81.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:35 pm

FR

First Industrial Realty Trust has provided its 2024 NAREIT FFO guidance, projecting $2.54-$2.64 per share/unit, and $2.56-$2.66 per share/unit excluding accelerated expense, against an estimate of $2.59.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:28 pm

DOGEUSD

MSTR

Dogecoin (DOGE) saw a 2.3% increase to $0.08 despite no specific news. Michael Saylor of MicroStrategy Inc. (MSTR) discussed Bitcoin's potential as an institutional asset, likening its emergence to that of gold ETFs and the S&P index ETF. U.S. Treasury Secretary Janet Yellen emphasized the need for cryptocurrency-specific legislation during a House Financial Services Committee hearing, focusing on stablecoins and non-security crypto assets.

Portfolio Pulse from Henry Khederian

February 07, 2024 | 10:28 pm