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SoundHound AI Inc (NASDAQ: SOUN) is trending slightly up in extended hours on Thursday after coming in ahead of Street estimates for its fiscal Q1. Why else is SoundHoud stock gaining in after-hours?The stock is being rewarded also because the voice AI company issued encouraging guidance for the future as well. SoundHound forecasts its revenue to fall between $65 million and $77 million in 2024. Analysts had called for $69.50 million instead. Keyvan Mohajer – the chief executive of $SOUN said in a press release today: We combine our 20+ years of technology innovation and billions of customer i...
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Robinhood Markets Inc (NASDAQ: HOOD) has gained a whopping 70% over the past three months but a Mizuho analyst is convinced it could extend the rally further in the coming months. Here’s why Robinhood stock is worth buyingDan Dolev reiterated his “buy” rating on $HOOD this morning after the financial services company reported quarterly earnings that were “as good as gold”. Robinhood, the analyst told CNBC in an interview on Thursday, is evidently “firing on all cylinders” considering it ended Q1 with 23.9 million funded customers in total – up some 810,000 versus last year. With a 65% increase...
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CytomX Therapeutics Inc reported favourable results for its ongoing trial of CX-904 on Thursday. Shares of the biotech firm are still down about 30% at writing. CX-901 shows favourable safety profileThe PROBODY T-cell engager showed anti-cancer properties in a Phase 1a clinical study of patients with advanced pancreatic cancer. CX-904 has an adequate safety profile as well to be administered in an outpatient setting, as per the press release on Thursday. The data “opens broad new possibilities for T-cell engagers across many targets and cancer types”, Sean McCarthy – the chief executive of Cyt...
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Norfolk Southern Corp (NYSE: NSC) is in focus this morning following a report that Ancora Holdings is close to winning board representation at the freight railroad operator. How many seats has Ancora won on $NSC board?Counting of votes is still ongoing but the activist hedge fund has already secured adequate support to win seats on the board of $NSC, as per sources that talked to Reuters on condition of anonymity. Norfolk Southern is scheduled for an annual meeting of shareholders later today. The total number of seats that Ancora has secured remains unclear, the sources added. The news arrive...
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Famed investor Jim Cramer is all praise for Jayshree Ullal – the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. Cramer has been bullish on Arista NetworksArista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host: $ANET is now up there with Club name Broadcom as an adjacency to the Titans as CEO Jayshree Ullal calls them. Is she the best in adjacents to hyperscalers? I am beginning to believe so. Investing in the computer networkin...
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Reddit Inc (NYSE: RDDT) is already up close to 40% versus its year-to-date low but analysts at Citi are convinced that it’s not out of juice just yet. Reddit stock could climb another 20%The investment firm reiterated its “buy” rating on the social news aggregator this morning and raised its price target to $65 which suggests another 20% upside from here. Citi remains bullish on Reddit stock after the quarterly earnings report the social media company posted last night. Analysts at the financial services behemoth told clients today: As Reddit builds out its ad stack, we look for Search (1B+ mo...
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Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter. Affirm stock rallies on impressive outlookThe stock is being rewarded also because $AFRM issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter. Analysts, in comparison, were at $576 million. Max Levchin – the chief executive of Affirm Holdings said in a letter to shareholders today: Our consumers love Affirm. We cannot wait to delive...
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Rivian Automotive Inc (NASDAQ: RIVN) is slipping in extended hours on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Rivian stock down in after-hours?The stock is in the red partly because the EV firm did not raise its production guidance for 2024. $RIVN continues to see production to be capped at about 57,000 vehicles this year. It produced roughly the same number of vehicles last year. Still, RJ Scaringe – the chief executive of Rivian Automotive said in a press release today: Q1 set a strong foundation for remainder of the year as we foc...
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Jim Cramer says Tim Cook – the chief executive of Apple Inc (NASDAQ: AAPL) and his team is “very bankable” after the tech behemoth rolled out new iPads with its latest M4 chip on Tuesday. Cramer reiterates bullish view on $AAPLIt’s the first time the multinational has launched new versions of iPad since October 2022. According to CEO Tim Cook: This is the biggest day for iPad since its introduction. Cramer reiterated his bullish stance on $AAPL also because the Nasdaq-listed firm is developing its own AI chip for data centres, as per a WSJ report on Tuesday. He remains optimistic even though A...
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Weakness in Target Corp (NYSE: TGT) since late March is an opportunity to buy a quality name at a discount, as per analysts at Citi. Target stock has upside to $180The investment firm raised its rating on the retail behemoth this morning to “buy”. Its shares, the analysts are convinced, could climb to $180 or 13% from here. Citi turned bullish on Target stock today as its experts now see it on a stable path after a year or two of turbulence. We believe $TGT has emerged as one of the winners within the retail landscape with an opportunity to improve EBIT margin in years to come (particularly in...
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