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ATVI

MSFT

Microsoft is laying off approximately 1,900 employees from its gaming division, which includes Activision Blizzard and Xbox staff. This reduction accounts for about 8% of the division's workforce. The layoffs are part of a broader trend of job cuts in the tech industry. Microsoft's acquisition of Activision Blizzard, completed in October, aimed to strengthen its position in the gaming market against competitors like Sony.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:18 pm

AMD

AVGO

NVDA

QCOM

SOXX

Broadcom Inc (NASDAQ:AVGO) stock reached a new all-time high of $1,284.55, driven by the semiconductor and AI boom. The stock has surged over 114% in the past year, outperforming the iShares Semiconductor ETF (NASDAQ:SOXX) and the S&P 500. Broadcom's strong financial performance and strategic positioning in the digital transformation market contribute to its success. Compared to peers like AMD (NASDAQ:AMD), NVIDIA (NASDAQ:NVDA), and Qualcomm (NASDAQ:QCOM), Broadcom offers better value with a forward P/E of 22.47. Analysts from Goldman Sachs and Cantor Fitzgerald have set price targets of $1,325 and $1,300, respectively, suggesting modest upside potential.

Portfolio Pulse from Surbhi Jain

January 25, 2024 | 3:17 pm

QBTS

Roth MKM analyst Suji Desilva has maintained a Buy rating on D-Wave Quantum (NYSE:QBTS) and increased the price target from $0.76 to $2. This adjustment reflects a positive outlook on the company's future performance and potential growth.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:16 pm

CNXC

Barrington Research analyst Vincent Colicchio has maintained an Outperform rating on Concentrix (NASDAQ:CNXC) and increased the price target from $98 to $121.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:16 pm

BTCUSD

ETHUSD

PLTR

SOLUSD

Joe Lonsdale, co-founder of Palantir Technologies, discussed on CNBC the potential of AI as a catalyst for cryptocurrencies. He suggested that AI adoption could lead to increased productivity and that AI agents might use cryptocurrencies like Bitcoin, Ethereum, and Solana for transactions. Lonsdale also sees crypto as a safe asset in inflationary times. Crypto prices have recently cooled after a surge at the end of 2023.

Portfolio Pulse from Erica Kollmann

January 25, 2024 | 3:16 pm

VTNR

Vertex Energy Inc (NASDAQ:VTNR) shares have risen today despite a ~57% decline over the past month. The company provided an operational update for Q4 2023, with conventional throughput volumes slightly below previous guidance and renewable diesel production just under forecasted range. However, finished product yields are in line with guidance, and the company has improved liquidity by leveraging cash invested in the Renewable Diesel project. The CEO noted an improvement in crack spreads and increased margin efficiency, leading to ramped-up production rates for the next quarter.

Portfolio Pulse from Lekha Gupta

January 25, 2024 | 3:16 pm

NVDA

TSM

Nvidia Corp (NVDA) stock is experiencing an uptick due to the ongoing artificial intelligence (AI) boom, with its market value significantly increasing over the past year. Nvidia has been adapting to U.S. restrictions by creating compliant semiconductors for the Chinese market. Nvidia CEO Jensen Huang met with Taiwan Semiconductor Manufacturing Co (TSM) executives to discuss AI chip supply, which is crucial given TSMC's role as a key producer of Nvidia's chips. Analysts remain bullish on Nvidia, citing its leadership in GPU and chip supply and its potential in various sectors including AI, gaming, automotive, and data centers. Nvidia's stock rose 218% last year and was up 1.69% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 3:15 pm

URI

United Rentals reported Q4 financial results that exceeded expectations and provided positive revenue guidance for FY24, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:14 pm

ASML

ASML shares have seen an increase in their trading price following the company's report of its Q4 earnings on Wednesday.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:12 pm

LVTX

MRK

LAVA Therapeutics NV (LVTX) has partnered with Merck & Co Inc (MRK) to evaluate the combination of LAVA-1207 with Merck's Keytruda in a study for metastatic castration-resistant prostate cancer. Merck will supply Keytruda for the study, which is expected to begin in the first half of 2024. LAVA-1207 has shown a favorable safety profile and preliminary anti-tumor activity. LVTX stock has surged 50% on this news.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 3:11 pm