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VZIO

VIZIO shares have seen an increase in trading volume and price following the announcement that Walmart will acquire the company. This move is significant as it represents a major retail partnership and could potentially expand VIZIO's market presence.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:41 pm

BFRI

FLR

MEDS

MNPR

RAPT

SMMT

U.S. stocks traded lower with the Nasdaq Composite down over 200 points. Consumer staples shares rose by 1.2%, while information technology shares fell by 1.8%. The Conference Board's Leading Economic Index fell 0.4% for January. Monopar Therapeutics, Biofrontera, and TRxADE HEALTH saw significant stock increases due to positive company news. Conversely, RAPT Therapeutics, Summit Therapeutics, and Fluor Corporation experienced notable declines following negative developments.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 7:33 pm

SQ

J.P.Morgan analyst Tien-tsin Huang maintains an Overweight rating on Block, Inc. (NYSE:SQ) with a $90 target. Block's Q4 earnings are anticipated on February 22, 2024. The focus is on CEO Jack Dorsey's efforts to boost Square's GPV growth and management's commitment to cost management. Huang expects Block to set Rule of 40 targets by 2026, earlier than consensus. U.S. network volumes are expected to decelerate ~1ppt sequentially in Q4, aligning with the forecast. Severe weather in January may affect Q1 outlook, with Square GPV growth projected in the low-double digits for 2024. SQ shares dropped 0.91% to $65.04.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 7:29 pm

MSFT

Microsoft's Xbox Game Pass has reached 34 million subscribers, a 36% increase from the last reported figure two years ago. The service will add seven new titles by the end of February and beginning of March 2024, including notable games like Diablo IV and Madden NFL 24. This growth reflects the expanding appeal of the Game Pass, although Microsoft emphasizes that their goal is not to make everyone a subscriber.

Portfolio Pulse from Franca Quarneti

February 20, 2024 | 7:28 pm

GMBL

Esports Entertainment Group, Inc. (GMBL) announced an update to its voluntary delisting from the Nasdaq, effective at the opening of trading on February 21, 2024. The company's securities, including Common Stock, Series A Preferred Stock, and Common Stock Warrants, will be suspended on Nasdaq and initially quoted on the OTC Pink Market, with plans to move to the OTCQB Venture Market subsequently.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 7:21 pm

NVDA

Nvidia experienced a significant downturn from November 2021 to October 2022 with a 68% decline but rebounded with a 529% increase due to demand in AI and gaming. Its market cap reached $1.8 trillion, establishing it as a major global player. The anticipated Q4 earnings are $4.53 per share, up from last year's $0.88, reflecting investor confidence in Nvidia's future. The stock surged 47% this year, adding to a 234% increase in 2023, and closed at $726.13 after the latest trading session.

Portfolio Pulse from Zaheer Anwari

February 20, 2024 | 7:20 pm

WEX

WEX Inc. (NYSE:WEX) has seen a 23.23% increase in short interest since its last report, with 515 thousand shares sold short, representing 1.22% of its float. This indicates a bearish market sentiment, although it's below the peer group average of 5.22%. The coverage time for these short positions is approximately 1.79 days based on trading volume.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 7:15 pm

ISRG

Intuitive Surgical's (NYSE:ISRG) short interest has increased by 8.97% since the last report, with 2.97 million shares sold short, representing 0.85% of its float. It would take 1.41 days on average to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards ISRG, although it has less short interest compared to its peers' average of 3.93%. This situation doesn't necessarily predict a price drop but suggests increased short selling activity.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 7:15 pm

APP

AppLovin (NYSE:APP) has seen an 8.54% increase in its short percent of float since the last report, with 15.83 million shares sold short, representing 11.69% of available shares. This indicates a bearish market sentiment towards APP, although it doesn't necessarily predict a price drop. AppLovin's short interest is significantly higher than its peer group average of 2.62%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 7:15 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower ahead of its Q4 earnings report. The company announced expansion into Europe and the unveiling of a new SUV, the R2. Barclays analyst Dan Levy downgraded Rivian's stock from Overweight to Equal-Weight with a price target reduction from $25 to $16, citing a slowdown in the EV market. Rivian is expected to report a loss of $1.32 per share and revenue of $1.262 billion. Analysts have mixed ratings on RIVN, with an average 12-month price target of $20.14.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 7:12 pm