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CSB

POR

SCAP

KeyBanc Capital Markets upgraded Portland General Electric Company (NYSE:POR) to Overweight with a $52 price target due to strong power demand growth from high-tech and semiconductor industries, and improved earnings from updates to the power cost recovery mechanism. The company is also managing a larger RFP for capacity, which could boost growth. Investors can gain exposure via Series Portfolios Trust InfraCap Small Cap Income ETF (NYSE:SCAP) and VictoryShares US Small Cap High Div Volatility Wtd ETF (NASDAQ:CSB).

Portfolio Pulse from Lekha Gupta

July 22, 2024 | 5:49 pm

LLY

NVO

PFE

RHHBY

The development of oral weight loss medications is gaining momentum with companies like Eli Lilly, Novo Nordisk, Pfizer, and Roche leading the charge. While oral drugs offer advantages over injectables, such as reduced costs and no need for refrigeration, they face challenges like production issues and potential side effects. Novo Nordisk's Rybelsus is currently the only authorized oral GLP-1 drug, but other companies are making significant progress in clinical trials.

Portfolio Pulse from Vandana Singh

July 22, 2024 | 5:42 pm

CSCO

GOOG

GOOGL

NVDA

Nvidia-backed AI startup Cohere Inc. has reached a valuation of $5.5 billion after a $500 million Series D funding round led by PSP Investments. New investors include Cisco Systems, AMD Ventures, and Canada's EDC. Cohere focuses on large language models for businesses and has seen its valuation more than double from the previous year.

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 5:40 pm

CRWD

MAT

NVDA

SMH

SOXX

TLT

USO

US stocks rebounded on Monday, driven by a surge in tech stocks and semiconductor ETFs. The Nasdaq 100 rose 1%, while the S&P 500 and Dow Jones also saw gains. CrowdStrike continued its selloff, falling 13% after multiple downgrades. Nvidia surged 3.8% on news of a new AI chip for the Chinese market. Oil prices hit a one-month low, and natural gas spiked 7%. Key ETFs like SMH, SOXX, SPY, DIA, QQQ, XLK, and XLE showed varied performances.

Portfolio Pulse from Piero Cingari

July 22, 2024 | 5:36 pm

CRWD

MIRA

SERV

TELL

CrowdStrike shares fell sharply by around 13% after downgrades from Guggenheim and BTIG analysts. The company also experienced a major outage impacting businesses globally. Selective Insurance Group shares also dipped significantly. Several other stocks saw notable movements, including MIRA Pharmaceuticals, CareMax, Tellurian, and Serve Robotics among gainers, and Linkage Global, Selina Hospitality, and TRxADE HEALTH among losers.

Portfolio Pulse from Avi Kapoor

July 22, 2024 | 5:28 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) announced that its German facility, Aphria RX GmbH, has obtained a new cannabis cultivation license under Germany's new Cannabis Act. This license will allow Tilray to quintuple its medical marijuana production in Germany, expanding from three to 31 approved strains. The new law also partially legalizes recreational cannabis in Germany.

Portfolio Pulse from Jelena Martinovic

July 22, 2024 | 5:05 pm

BIIB

IONS

RARE

Ionis Pharmaceuticals (NASDAQ: IONS) released positive results from its Phase 1/2 study of ION582 for Angelman syndrome, showing significant clinical improvements and favorable safety. William Blair reiterated an Outperform rating, noting the drug's potential benefits and differentiation from Ultragenyx's (NASDAQ: RARE) program. Ionis plans to meet with regulators for Phase 3 study design and expects pivotal study initiation in early 2025. The next 12-18 months could be transformative for Ionis with multiple product launches and potential approvals.

Portfolio Pulse from Vandana Singh

July 22, 2024 | 5:04 pm

CYTH

Cyclo Therapeutics has been granted European Patent Number EP3873604 for methods of treating Alzheimer's disease with HP-[beta]-cyclodextrin. This patent could enhance the company's intellectual property portfolio and potentially boost its market position in Alzheimer's treatment.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 5:02 pm

BIDU

BYDDY

BYD Company (OTC:BYDDY) has recruited former Baidu Inc (NASDAQ:BIDU) executive Zhou Peng to lead its driver assistance technology development. Zhou Peng's expertise is expected to enhance BYD's smart driving capabilities, particularly through the Xuanji Architecture. BYD aims to extend high-level smart driving features to more models and plans to invest RMB 100 billion in intelligence. BYDDY shares are trading higher by 1.42% at $62.05.

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 4:59 pm

AMZN

GOOG

GOOGL