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SNOW

Snowflake, Inc. (NYSE:SNOW) stock is trading higher, with a nearly 5% increase over the past five days. Analysts from Truist Securities, Needham, and Barclays have recently updated their coverage on Snowflake. Truist Securities raised the price target from $210 to $230, Needham reiterated a $225 price target, and Barclays downgraded the stock but set a $198 price target. RBC Capital also initiated coverage with an Outperform rating and a $230 price target, highlighting Snowflake's potential in cloud optimization, Snowpark adoption, and generative AI offerings. Snowflake's shares are trading above the 50-day moving average and near the 52-week high.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 6:30 pm

DHI

MDC

MTH

TMHC

TOL

Seaport analyst Kenneth Zener downgraded several homebuilding stocks due to a weak outlook for FY24, citing potential headwinds and a possible sector rotation. He expects builder margins to bottom out, with higher-turn builders faring best. Zener downgraded D.R. Horton, Meritage Homes, Taylor Morrison Home, and Toll Brothers to Neutral and dropped coverage of M.D.C. Holdings due to its pending acquisition.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 6:29 pm

PDD

PDD Holdings Inc – ADR (NASDAQ:PDD) stock is trading lower by 1.3% to $141.80, influenced by a broader decline in U.S.-listed Chinese stocks due to China's economic data missing GDP and retail sales estimates. The Hang Seng Index fell to a 15-month low, and China maintained its benchmark lending rates. PDD's 52-week range is between $59.67 and $152.99.

Portfolio Pulse from Henry Khederian

January 22, 2024 | 6:26 pm

Keefe, Bruyette & Woods analyst David Konrad has maintained a 'Market Perform' rating on Regions Financial Corporation (NYSE:RF) and increased the price target from $20 to $21.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:21 pm

Keefe, Bruyette & Woods analyst David Konrad has maintained a 'Market Perform' rating on Regions Financial Corporation (NYSE:RF) and increased the price target from $20 to $21.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:21 pm

EKSO

HC Wainwright & Co. analyst Swayampakula Ramakanth has reaffirmed a Buy rating on Ekso Bionics Holdings (NASDAQ:EKSO) and increased the price target from $9 to $10.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:17 pm

BETZ

CHAT

MAGS

METV

YBTC

Roundhill Investments has launched the Roundhill Bitcoin Covered Call Strategy ETF (YBTC), the first U.S.-listed covered call Bitcoin ETF. YBTC aims to generate monthly income by selling call options on Bitcoin ETFs, targeting investors seeking a mix of Bitcoin exposure and income without direct investment in the cryptocurrency. Roundhill is known for being first to market with thematic ETFs, and the success of YBTC will depend on its ability to provide regular income and unique exposure to Bitcoin. Roundhill's other ETFs include METV, BETZ, CHAT, and MAGS, with QDTE and XDTE in development.

Portfolio Pulse from Chris Katje

January 22, 2024 | 6:15 pm

DIS

NFLX

PARA

Paramount Global (NASDAQ:PARA) is planning to reduce its workforce in February, with layoffs affecting hundreds of employees. While initial estimates suggested 800 job cuts, the actual number is expected to be lower. This follows several rounds of layoffs in the past 14 months. National Amusements, Inc, the majority shareholder, is considering acquisition offers from Apollo Global Management, Skydance Media, and RedBird Capital. Paramount's stock value has decreased significantly since its post-merger peak. The company faces challenges like pay-TV cord-cutting, a weak advertising market, and a loss-making streaming operation. PARA shares are up 2.65% at $13.76.

Portfolio Pulse from Anusuya Lahiri

January 22, 2024 | 6:13 pm

WNS

Barrington Research analyst Vincent Colicchio has maintained an Outperform rating on WNS (Hldgs) (NYSE:WNS) and increased the price target from $65 to $80.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:10 pm

CSX

NSC

UNP

Bernstein analyst David Vernon upgraded Union Pacific Corp (UNP) to Outperform with a $280 price target and Norfolk Southern Corp (NSC) to Outperform with a $272 price target, citing a strong intermodal recovery and a positive outlook for the rail industry in FY24. He expects a seasonal uptick in freight demand and a recovery in the Merchandise/Industrial business. Vernon also reiterated a Market-Perform rating on CSX Corp (CSX) with a raised price target of $36, due to a sluggish outlook for FY24 and volatile earnings from met coal.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 6:09 pm