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Stock Prices

GDRX

LBPH

MRNA

MSTR

RIVN

VYGR

Longboard Pharmaceuticals, Inc. (LBPH) shares soared by approximately 200% after announcing positive topline data from their PACIFIC Phase 1b/2a study of bexicaserin (LP352) for seizures associated with Developmental and Epileptic Encephalopathies (DEEs). Other stocks experienced significant movement in Tuesday's mid-day session, with various companies seeing substantial gains or losses.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 6:35 pm

AAPL

DIA

IBB

MRNA

NVDA

QQQ

RIVN

SMH

SOXX

SPY

TSLA

XLK

XLV

Wall Street began 2024 with declines in major indices, particularly the S&P 500 and Nasdaq 100, dragged down by the tech sector. Tesla (TSLA) remained flat, while Apple (AAPL) and NVIDIA (NVDA), along with semiconductor ETFs like SOXX, saw significant drops. The decline in tech stocks was partly due to a White House request to limit chip exports to China. The dollar and Treasury yields surged, while commodities had a mixed day. Bitcoin (BTC) rose, anticipating a Bitcoin ETF approval. Sector ETFs like SPY, DIA, and QQQ moved in line with their respective indices, while XLV outperformed and XLK lagged. Biotech stocks and ETFs like IBB performed well, whereas semiconductor ETFs like SMH declined. Moderna (MRNA) surged after an Oppenheimer upgrade, while Rivian (RIVN) and cruise lines like NCLH and RCL saw stock price declines.

Portfolio Pulse from Piero Cingari

January 02, 2024 | 6:29 pm

VYGR

Wells Fargo analyst Yanan Zhu has upgraded Voyager Therapeutics (VYGR) from Equal-Weight to Overweight and increased the price target from $9 to $14.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 6:27 pm

INTC

Intel Corporation (NASDAQ:INTC) shares fell by 4.4% to $48.03 amid a broader decline in semiconductor and chip stocks due to rising Treasury yields. The sector's downturn is also in sympathy with ASML Holding after the Netherlands blocked exports of some lithography systems to China, which are essential for advanced microprocessors. This move aligns with U.S. export restrictions and follows a September rule requiring Dutch firms to seek approval for exporting certain chip-making equipment.

Portfolio Pulse from Henry Khederian

January 02, 2024 | 6:25 pm

DIS

NFLX

PARA

Streaming companies such as Walt Disney Co (DIS), Paramount Global (PARA), Hulu, and Netflix, Inc (NFLX) are experiencing higher customer churn rates due to increased subscription costs and economic pressures. The customer defection rate for premium streaming services rose to 6.3% in November from 5.1% a year earlier. In response, these companies are adopting strategies like introducing ad-supported tiers, bundling deals, and offering discounts to retain customers. Despite cancellations, many customers tend to resubscribe within a few months, with ad-supported plans seeing a notable increase in uptake.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 6:23 pm

AMGN

CSCO

CVX

DIA

DOW

IBM

JNJ

MMM

SPY

WBA

The article discusses the 'Dogs of the Dow' investment strategy, focusing on the highest-yielding Dow Jones Industrial Average stocks for 2024. It highlights the performance of the Dow Jones in 2023, which gained 14%, and lists the top 10 dividend-yielding stocks, with Walgreens Boots Alliance and Verizon Communications at the top. It also notes that 28 out of 30 Dow components pay dividends, with Salesforce and Boeing being the exceptions. The average dividend yield of these top 10 stocks is 4.28%, compared to the entire Dow's 2.54% and the SPDR S&P 500 ETF Trust's 1.6% yield.

Portfolio Pulse from Chris Katje

January 02, 2024 | 6:22 pm

HAS

DA Davidson analyst Linda Bolton Weiser downgraded Hasbro Inc (NASDAQ:HAS) from Buy to Neutral and lowered the price target from $60 to $53, citing a post-COVID correction in the toy industry and persisting headwinds into 2024. The analyst reduced FY24 sales and EPS estimates and suggested that the consensus operating profit estimate for FY24 is too optimistic. Concerns were also raised about Hasbro's ability to cover dividends with free cash flow and meet its debt-to-EBITDA target, hinting at a possible dividend cut in early-FY24.

Portfolio Pulse from Shivani Kumaresan

January 02, 2024 | 6:16 pm

Eversource Energy's stock (ES) is trading higher following Barclays' decision to maintain an Equal-Weight rating while increasing the price target from $61 to $65.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 6:05 pm

Li Auto Inc. (NASDAQ:LI) shares are down after the company announced a delay in the launch and delivery of its Li MEGA vehicle. Originally slated for a December 2023 launch with deliveries in late February 2024, the new timeline sets the launch for March 1, 2024, with deliveries in early March. Despite this, Li Auto reported a 137.1% year-over-year increase in vehicle deliveries for December 2023, achieving its target of 50,000 vehicles for the month. The fourth-quarter deliveries were up 184.6% year over year, and total 2023 deliveries increased by 182.2% to 376,030 vehicles. Li Auto now has over 600,000 cumulative deliveries, the highest among Chinese emerging new energy automakers. The company also expanded its retail and service network. However, shares dropped by 7.72% to $34.54.

Portfolio Pulse from Nabaparna Bhattacharya

January 02, 2024 | 6:03 pm

PYPL

TDG

XLF

On CNBC's Halftime Report, the final trades segment featured recommendations for PayPal Holdings, SPDR Select Sector Fund - Financial, The Goldman Sachs Group, and Transdigm Group. These assets were highlighted as potential investment opportunities.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 6:01 pm