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BABA

BIDU

FXI

PDD

SPY

China has announced its largest bank reserve ratio cut since December 2021, a move aimed at bolstering economic recovery. The reduction in the reserve requirement ratio (RRR) for banks will free up liquidity and is expected to support businesses and the broader economy.

Portfolio Pulse from Charles Gross

January 24, 2024 | 10:57 am

AMD

NVDA

Shares of Advanced Micro Devices, Inc. (AMD) experienced a strong premarket rally on Wednesday, approaching the all-time high set on the previous Friday. The surge is attributed to a positive analyst action by New Street Research analyst Pierre Ferragu, who upgraded AMD from Neutral to Buy with a $215 price target. Ferragu also commented on the potential growth in AI chip spending, which could benefit Nvidia, Inc. (NVDA) and other silicon suppliers. AMD is expected to report Q4 results soon, with analysts predicting non-GAAP EPS of 77 cents and revenue of $6.12 billion. AMD's stock rose 2.11% to $171.98 in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 24, 2024 | 10:54 am

SQSP

JMP Securities analyst Andrew Boone has upgraded Squarespace (NYSE:SQSP) from Market Perform to Market Outperform and set a price target of $40.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:53 am

LMT

Lockheed Martin Corp. (NYSE:LMT) announced a potential delay in the delivery of the TR-3 version of its F-35 fighter jets due to software issues, causing its stock to drop by 3.9%, the largest decline in over four months. Despite surpassing fourth-quarter earnings estimates with $18.87 billion in sales, Lockheed predicts a 6.5% decrease in earnings for 2024. The Pentagon is withholding $7 million in payment for each F-35 in storage until the software and hardware upgrades are completed.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 10:52 am

FIGS

Barclays analyst Adrienne Yih has upgraded FIGS (NYSE:FIGS) from Underweight to Equal-Weight and set a price target of $7. This upgrade reflects a change in Barclays' view of FIGS' stock, suggesting a neutral stance.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:51 am

NFLX

Deutsche Bank analyst Bryan Kraft has downgraded Netflix (NASDAQ:NFLX) from Buy to Hold while increasing the price target from $460 to $525. This reflects a more cautious stance on the stock despite a higher valuation expectation.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:30 am

AMD

New Street Research analyst Pierre Ferragu upgraded Advanced Micro Devices (AMD) from Neutral to Buy and set a price target of $215.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:16 am

IBTX

Raymond James analyst Michael Rose has maintained an Outperform rating on Independent Bank Gr (NASDAQ:IBTX) and increased the price target from $56 to $59.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:13 am

DEC

DWAC

DXC

PLUG

SGMT

TXN

Texas Instruments Incorporated (NASDAQ:TXN) reported Q4 earnings of $1.49 per share, slightly above expectations but a 30.05% decrease from the previous year. Sales were $4.08 billion, missing the $4.12 billion estimate. The company forecasts Q1 revenue well below the $4.06 billion estimate, causing shares to drop 3.7% in pre-market trading. Other stocks such as BlackBerry Limited (NYSE:BB), Diversified Energy Company PLC (NYSE:DEC), Digital World Acquisition Corp. (NASDAQ:DWAC), Sagimet Biosciences Inc. (NASDAQ:SGMT), Plug Power Inc. (NASDAQ:PLUG), and DXC Technology Company (NYSE:DXC) also experienced pre-market losses.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 10:12 am

KARO

Raymond James analyst Brian Peterson has maintained an Outperform rating on Karooooo (NASDAQ:KARO) and increased the price target from $26 to $29.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:02 am