Streetbeat News

Stock Prices

BIIB

Over the past 20 years, Biogen (NASDAQ:BIIB) has produced an average annual return of 9.48%, outperforming the market. A $1000 investment in BIIB 20 years ago would be worth $6,114.80 today. Biogen's market capitalization currently stands at $36.66 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 8:31 pm

Shares of AT&T and Verizon are trading lower after a Wall Street Journal report indicated that the Environmental Protection Agency (EPA) has reached out to telecom companies to discuss concerns about lead-sheathed cables. The EPA's request for meetings with these companies could imply potential regulatory scrutiny or required changes in infrastructure, which may have financial implications for the involved firms.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:30 pm

MSTR

Michael Saylor, co-founder of MicroStrategy Incorporated (NASDAQ:MSTR), is known for his bullish stance on Bitcoin (CRYPTO: BTC), even suggesting to mortgage houses to buy it. MicroStrategy has accumulated 189,150 BTC with an average purchase price of $31,168. Saylor emphasizes a long-term investment strategy for Bitcoin. A $1,000 investment in Bitcoin when Saylor advised in March 2021 would be worth $810.73 today, a decline of 18.9%. Optimism remains with the approval of spot Bitcoin ETFs potentially increasing Bitcoin's value.

Portfolio Pulse from Chris Katje

January 11, 2024 | 8:29 pm

ASML

MSFT

NVDA

ASML Holding N.V. (ASML) has halted shipments of high-end lithography machines to China, following U.S. directives. China's Commerce Minister expressed grave concerns over U.S. pressure on ASML and potential tariffs on Chinese chips. The U.S. is assessing reliance on Chinese chips and considering tariffs to protect against military use. Huawei's launch of a handset with an advanced chip despite sanctions raised U.S. security concerns. Microsoft Corp (MSFT) linked a cyberattack on U.S. Commerce Secretary Raimondo's email to China. Nvidia Corp (NVDA) faces challenges in China due to U.S. export controls, with Chinese companies potentially reducing orders for high-end AI chips from Nvidia by 50%-60% in five years. ASML's stock saw a slight decrease.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:25 pm

DCGO

DocGo's stock is trading higher after the company dismissed a short report by Fuzzy Panda Research and provided preliminary revenue guidance for fiscal years 2023 and 2024.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:24 pm

AMZN

BABA

GOOG

GOOGL

MSFT

SPY

Google has eliminated fees for customers migrating from Google Cloud to competitors like Amazon or Microsoft, a move that could prompt similar actions from these companies. This change comes amid regulatory scrutiny over switching penalties. Google's VP, Amit Zavery, noted that while these fees are a small part of total costs, they are a regulatory and customer concern. Google also aims to shift regulatory focus to Microsoft's practices that limit customers' ability to use Google Cloud. Google recently announced layoffs in its hardware and digital assistant teams and is reallocating resources to focus on priority investments. Additionally, Google is testing limits on cookie usage in Chrome, impacting the online advertising industry. Last year, Google's stock outperformed the SPDR S&P 500 ETF, Amazon, and Microsoft.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:21 pm

AMZN

GOOG

MSFT

NVDA

Nvidia Corp has secured a $1 billion deal with Indian data center operator Yotta to supply nearly 16,000 AI chips, including the H100 and GH200 models. This deal is crucial for Nvidia as it faces U.S. export restrictions affecting chip sales to China. Nvidia's expansion in India is supported by partnerships with major Indian conglomerates and the growing demand for AI infrastructure in the region. The deal is expected to boost Nvidia's presence in India, where the AI market is projected to reach $14 billion by 2030. Other tech giants like Microsoft, Alphabet's Google, and Amazon are also expanding their cloud and data center investments in India.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:18 pm

CYTK

Cytokinetics' stock price has dropped after reports that Novartis is no longer pursuing a potential acquisition deal with the company.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:17 pm

KBH

Evercore ISI Group analyst Stephen Kim has maintained an Outperform rating on KB Home (NYSE:KBH) and increased the price target from $67 to $76.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:06 pm

BETS

Bit Brother Ltd (NASDAQ:BETS) stock dropped 22% to $5.14 after implementing a 1 for 1,000 reverse stock split, reducing its Class A ordinary shares from 3.8 billion to approximately 3.8 million. The reverse split was previously approved by the board in November and the split-adjusted shares began trading on Wednesday at a price roughly one thousand times the pre-split price. BETS has a 52-week range between $6.50 and $0.0038.

Portfolio Pulse from Henry Khederian

January 11, 2024 | 7:58 pm