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LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares are experiencing a significant increase on heavy trading volume, despite a 25% decline over the past month. The movement comes ahead of Lucid's Q4 financial results expected on Feb. 21, with an anticipated loss of 29 cents per share and revenue of $179.881 million. The stock's activity may also be influenced by a high short interest of 21.97% and a recent partnership between Lucid's majority owner, Saudi Arabia's Public Investment Fund, and Formula E. Meanwhile, Tesla, Inc. (NASDAQ:TSLA) reported Q4 earnings below analyst estimates, affecting other EV stocks.

Portfolio Pulse from Erica Kollmann

January 29, 2024 | 5:34 pm

APEI

CNXA

FRSX

GCT

MNSO

SLDP

SLNA

TAL

TKLF

ZCMD

In Monday's intraday session, several consumer discretionary stocks experienced significant movements. Connexa Sports Techs (CNXA) led the gainers with a 54.2% increase, while TAL Education (TAL) was among the losers with a 9.37% decline following its Q3 earnings release 2 days prior. Other notable movers included Selina Hospitality (SLNA), J-Long Group (JL), Foresight Autonomous (FRSX), and Solid Power (SLDP) with substantial gains, and American Public Education (APEI), GigaCloud Tech (GCT), Yoshitsu Co (TKLF), MINISO Group Holding (MNSO), and ZHONGCHAO (ZCMD) with notable losses.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:31 pm

BREA

CDLX

CPOP

CSSEP

GMGI

GPAK

LQR

LUMN

LYT

NXTP

PODC

STBX

In Monday's intraday session, several communication services stocks experienced significant movements. Cardlytics (CDLX) saw a notable increase of 28.7%, while Brera Holdings (BREA) led the losers with a 23.7% drop. Other gainers included Gamer Pakistan (GPAK), Pop Culture Gr (CPOP), LQR House (LQR), Starbox Group Hldgs (STBX), and PodcastOne (PODC). On the losing side were NextPlay Technologies (NXTP), Lytus Technologies Hldgs (LYT), Chicken Soup for the Soul (CSSEP), Lumen Technologies (LUMN), and Golden Matrix Group (GMGI).

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:31 pm

BCEL

BFRG

CRBP

FGEN

IVP

NEXI

ONMD

PALI

PBLA

PCSA

TCBP

VVOS

In Monday's intraday session, several healthcare stocks experienced significant movements. OneMedNet (ONMD) saw a 175.1% increase, while Palisade Bio (PALI) and NexImmune (NEXI) rose by 106.48% and 84.48%, respectively. FibroGen (FGEN), Atreca (BCEL), and Vivos Therapeutics (VVOS) also posted gains. Conversely, Panbela Therapeutics (PBLA), Processa Pharma (PCSA), Bullfrog AI Hldgs (BFRG), Inspire Veterinary (IVP), Corbus Pharmaceuticals (CRBP), and TC BioPharm (TCBP) experienced declines.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:31 pm

BTOG

CODA

MFH

In Monday's intraday session, several information technology stocks experienced significant movements. Mercurity Fintech Holding (MFH) led the gainers with a 28.1% increase, while Bit Origin (BTOG) saw the largest decline among the losers, dropping 18.1%. Other notable gainers include Baijiayun Group (RTC), Bitdeer Technologies (BTDR), and ZeroFox Holdings (ZFOX). On the losing side, CCSC Technology (CCTG), Cyngn (CYN), and Ostin Technology Group (OST) also saw substantial decreases in their stock prices. Coda Octopus Group (CODA) reported Q4 earnings, which may have influenced its 11.83% decline.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 5:31 pm

PCVX

Vaxcyte, Inc. has completed enrollment for its Phase 1/2 clinical trial of VAX-24, a pneumococcal conjugate vaccine candidate. This milestone may positively influence investor sentiment as it marks progress in the company's pipeline development.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:29 pm

COIN

MARA

RIOT

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:26 pm

AMZN

GOOG

META

MSFT

NVDA

SOXL

Nvidia Corp (NVDA) faces increasing competition in the AI chip market from tech giants like Amazon (AMZN), Alphabet (GOOG/GOOGL), Meta Platforms (META), and Microsoft (MSFT), who are developing their own AI chips to reduce dependency on Nvidia's GPUs. Despite this, Nvidia maintains over 70% of AI chip sales and is seen as a key beneficiary in the AI space. The company's sales surged by 206%, adding about a trillion dollars to its market value. Nvidia's significant exposure to China is a concern due to U.S. semiconductor industry sanctions. The Direxion Daily Semiconductor Bull 3x Shares (SOXL), which includes Nvidia, saw a slight increase in its share price.

Portfolio Pulse from Anusuya Lahiri

January 29, 2024 | 5:22 pm

CVX

HES

PXD

XOM

Activist investor Bluebell Capital Partners has urged BP plc (NYSE:BP) to reduce its green energy commitments, claiming these have depressed BP's share price. Bluebell's call contrasts with previous activist campaigns, such as Engine No. 1's successful push for ExxonMobil Corp. (NYSE:XOM) to adopt more environmentally friendly policies. Exxon and Chevron (NYSE:CVX) have recently made large acquisitions in the shale oil and gas sector, with Exxon purchasing Pioneer Natural Resources Co (NYSE:PXD) and Chevron acquiring Hess Corp (NYSE:HES). Bluebell suggests BP cut investments in bioenergy, hydrogen, and renewables by $28 billion by 2030. The debate over oil majors' green energy targets and potential M&A activity is expected to intensify in the coming months.

Portfolio Pulse from Neil Dennis

January 29, 2024 | 5:20 pm

FHI

RBC Capital analyst Kenneth Lee has maintained a 'Sector Perform' rating on Federated Hermes (NYSE:FHI) and increased the price target from $36 to $37.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:20 pm