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BABA

MCHI

SPY

Alibaba Group Holding (NYSE:BABA) shares surged over 7% after co-founders Jack Ma and Joe Tsai bought shares worth hundreds of millions. Blue Pool Capital acquired around two million Alibaba ADRs worth $152 million, while Ma bought $50 million in Hong Kong. The purchases occurred before China announced market support measures. The iShares MSCI China ETF (NYSE:MCHI) rallied over 3% after the news, despite a previous downtrend. The SPDR S&P 500 ETF (NYSE:SPY) was up 19% in 2023, contrasting with MCHI's decline. Alibaba's future hinges on China's market confidence and regulatory dynamics with the U.S.

Portfolio Pulse from Neil Dennis

January 23, 2024 | 8:32 pm

ENSC

Ensysce Biosciences' stock is trading higher following the announcement that the FDA has granted Breakthrough Therapy Designation to its drug PF614-MPAR.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:30 pm

NVEI

Nuvei Corporation's stock is trading higher following the announcement of its partnership with Adobe, which will allow Adobe customers to access Nuvei's payment technology.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:30 pm

SPGI

S&P Global (NYSE:SPGI) has announced a 1.1% increase in its regular quarterly cash dividend, raising it from $0.90 to $0.91 per share. This marks the company's continued tradition of paying dividends annually since 1937 and increasing them for at least 51 consecutive years. The new dividend will be payable on March 12, 2024, to shareholders of record as of February 27, 2024, resulting in an annualized dividend rate of $3.64 per share.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:28 pm

ALK

BA

SPR

FAA Administrator Mike Whitaker has indicated that the investigation into the Alaska Airlines blowout is centered on Boeing's quality control processes. While the design of the 737 Max 9's door plug is considered adequate when properly implemented, the focus is now on Boeing's quality assurance and control measures.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:09 pm

MS

Morgan Stanley (NYSE:MS) has delivered an average annual return of 15.18% over the past 5 years, outperforming the market by 2.26% on an annualized basis. A $100 investment in MS stock 5 years ago would be worth $201.14 today. The company's current market capitalization stands at $140.46 billion.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 8:07 pm

MSFT

Truist Securities analyst Joel Fishbein has reiterated a Buy rating on Microsoft (NASDAQ:MSFT) and maintained a price target of $600.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:00 pm

TROW

T. Rowe Price Gr Inc. (NASDAQ:TROW) shares are trading at $111.22, with a recent 0.52% increase. Over the past month, the stock slightly rose by 0.10%, but it has fallen by 6.72% over the past year. The P/E ratio of TROW is lower than the Capital Markets industry average, which could suggest that the stock is undervalued or that shareholders have lower growth expectations.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 8:00 pm

WTI

Stifel analyst Derrick Whitfield has maintained a Buy rating on W&T Offshore (NYSE:WTI) and increased the price target from $7.6 to $7.9.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:58 pm

IFNNF

WOLF

Wolfspeed, Inc. (NYSE:WOLF) stock rose over 7% after announcing the expansion and extension of their long-term silicon carbide wafer supply agreement with Infineon Technologies AG (OTC:IFNNF). The agreement, which was initially signed in February 2018, now includes a multi-year capacity reservation. Infineon's CEO emphasized the importance of securing a high-quality, long-term supply base for silicon carbide devices to strengthen supply chain resilience.

Portfolio Pulse from Ryan Gustafson

January 23, 2024 | 7:57 pm