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MRK

Merck & Co Inc (NYSE:MRK) announced the exercise of an option to convert its co-development and co-commercialization agreement with Orion for opevesostat into an exclusive global license. Merck will now have global exclusive rights to develop and commercialize the drug and will assume all associated expenses. Orion will receive milestone payments and royalties. MRK shares are up 3.44% following the announcement.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 5:26 pm

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NIO

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SNOW

TLT

TSLA

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XPEV

Stocks had a mixed start on Monday with major indices slightly up. Key economic events this week include Fed Chair Jerome Powell's speech and labor market data. Technology sector outperformed, while materials and real estate struggled. Treasury yields rose, impacting the iShares 20+ Year Treasury ETF (TLT). Crude oil prices surged above $83 a barrel. Tesla and other EV stocks rallied, while cruise-line stocks and Victoria's Secret saw significant declines.

Portfolio Pulse from Piero Cingari

July 01, 2024 | 5:22 pm

META

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XLC

Needham analyst Laura Martin reiterated an Underperform rating on Meta Platforms Inc (NASDAQ:META), suggesting it as a prime funding source due to concerns over slowing user growth and geopolitical tensions affecting ad revenue. The analyst also noted Meta's significant GPU investments from NVIDIA Corporation (NASDAQ:NVDA) for AI integration. Investors can gain exposure to Meta via Vanguard Communication Services ETF (NYSE:VOX) and Communication Services Select Sector SPDR Fund (NYSE:XLC).

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 5:11 pm

DOGEUSD

Dogecoin (DOGE) is on the verge of a potential breakout, with traders predicting significant bullish price action. Key indicators such as a weekly buy signal and a possible golden cross suggest a major rally. If DOGE breaks above $0.1296, it could surge by 40-70%, with a long-term target of $0.6533.

Portfolio Pulse from Khyathi Dalal

July 01, 2024 | 5:10 pm

TEVA

The FTC has launched an investigation into Teva Pharmaceutical Industries Ltd (NYSE:TEVA) over alleged patent abuse related to its asthma and COPD inhalers. The FTC claims Teva's practices have blocked generic competition, leading to higher prices in the U.S. Teva is also in discussions to settle a lawsuit with the DOJ over alleged kickbacks.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 5:05 pm

HOOD

Robinhood Markets, Inc. (NASDAQ: HOOD) experienced a temporary service interruption but quickly resolved the issue. The company also announced the acquisition of Pluto Capital Inc., an AI-powered investment research platform, to enhance its data-driven investment strategies. This acquisition aims to provide highly customized investment strategies and real-time insights to Robinhood's customers.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 4:52 pm

AZN

AstraZeneca's marketing authorization application for sipavibart, a COVID-19 prevention drug for immunocompromised patients, has been accepted by the European Medicines Agency under an accelerated assessment procedure. The application is based on positive results from the SUPERNOVA Phase 3 trial.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 4:43 pm

MRK

Merck shares are trading higher after the company and Orion announced the mutual exercise of an option to convert their co-development and co-commercialization agreement for opevesostat into an exclusive global license for Merck.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 4:34 pm

AAPL

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MSFT

NVDA

Nvidia, Apple, and Microsoft are racing towards a $4 trillion market cap, driven by the AI revolution. Wedbush analyst Daniel Ives predicts a 15% surge in tech stocks in the second half of 2024, with Nvidia and Microsoft leading in enterprise AI and Apple in consumer AI.

Portfolio Pulse from Surbhi Jain

July 01, 2024 | 4:33 pm

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) has acquired Pluto Capital Inc., an AI-powered investment research platform, to enhance its AI-driven investment tools and personalized strategies. This acquisition aims to integrate advanced AI technologies into Robinhood's platform, with Pluto's founder joining Robinhood's team to accelerate product development.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 4:31 pm