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Stocks showed mixed performance with the Russell 2000 ETF outperforming major indices. Nvidia soared, while Apple, Alphabet, and Tesla faced declines. Gold and Bitcoin approached record highs. Macy's received a higher acquisition offer, and JetBlue ended its bid for Spirit Airlines due to regulatory issues. New York Community Bancorp saw a significant drop, and Hewlett Packard Enterprise surged post-earnings.

Portfolio Pulse from Piero Cingari

March 04, 2024 | 6:36 pm

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Bitdeer Technologies Group's shares surged 10.2% after reporting positive Q4 financial results and successful testing of its Bitcoin mining chip, amidst a general rise in Bitcoin prices. Other stocks also saw significant movements, with BitFuFu Inc. leading with a 107% jump following its Nasdaq listing. The session also highlighted FDA approvals, strategic approaches, and financial results as key drivers for stock movements. Conversely, companies like BioVie Inc. and JOANN Inc. faced declines due to public offering pricing and bankruptcy reports, respectively.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 6:29 pm

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France has made history by becoming the first country to explicitly include abortion rights in its constitution, according to a report by the Washington Post. This landmark decision could have implications for companies involved in women's health and reproductive products.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:53 pm

AAPL

SPOT

Apple Inc was fined over $1.95 billion by the European Commission for restricting music streaming services like Spotify from informing users about alternative payment methods outside Apple's App Store. This decision, which Apple plans to challenge, was based on antitrust violations. Concurrently, Apple announced new MacBook Air models with the M3 chip, expected to significantly outperform previous versions.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 4:51 pm

GEO

SPY

Texas Governor Greg Abbott has announced that law enforcement officers in Texas are now authorized to arrest and jail illegal immigrants crossing the border. This new measure allows any Texas law enforcement officer to arrest individuals on misdemeanor charges of illegal entry.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:48 pm

FUBO

FuboTV Inc (NYSE:FUBO) shares rose after reporting Q4 results, showing effective cost-cutting and reiterating its 2025 guidance for positive free cash flows. Seaport Research Partners upgraded FuboTV to a Buy and raised the price target to $2.50, citing higher-than-expected subscription revenue and potential benefits from an antitrust lawsuit. Shares were up 0.5% to $1.91.

Portfolio Pulse from Priya Nigam

March 04, 2024 | 4:38 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) shares surged amid volatility in Trump-related stocks following Trump's wins in the Missouri and Idaho Republican caucuses and a Supreme Court ruling ensuring Trump remains on the Republican primary ballot in all states. The court stated that Congress, not states, has the authority to enforce the 14th Amendment provision against federal office-seekers. Phunware does not pay dividends but may engage in capital allocation programs like stock buybacks. Phunware's stock price increased by 105% to $14.51.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 4:22 pm

NVDA

PANW

UNH

Nancy Pelosi and other Congress members have been actively trading Palo Alto Networks Inc (PANW) stock and options, with trades placed around the time of PANW's Q2 financial results. Pelosi's trades were disclosed after PANW's earnings report, which showed revenue and EPS beating estimates but with weaker guidance. The CEO of PANW hinted at a potential major government contract. Other Congress members also reported profitable trades in different stocks, highlighting their trading acumen. Additionally, UnitedHealth Group (UNH) reported a cybersecurity attack, working with Palo Alto Networks for resolution. Analysts have lowered price targets on PANW following its earnings.

Portfolio Pulse from Chris Katje

March 04, 2024 | 4:19 pm

JBLU

SAVE

The Justice Department has declared the termination of the JetBlue and Spirit Airlines merger as a victory for its efforts to protect American consumers. It emphasizes its commitment to vigorously enforcing the nation's antitrust laws.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:02 pm

FQVLF

RBC Capital Markets upgraded First Quantum Minerals (OTC:FQVLF)(TSE: FM) from Sector Perform to Outperform, raising the price target from C$17 to C$18, citing the S3 expansion at Kansanshi and potential value recovery in Panama. The company's recent financing and covenant increase provide room for growth, with copper production expected to rise from 377kt in 2023 to 427kt by 2025. The outcome of the May 5 election and ongoing international arbitration seeking U$20B could further impact the company's value.

Portfolio Pulse from Priya Nigam

March 04, 2024 | 3:55 pm