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RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares are rallying on Monday following multiple analysts raising their price targets. Analysts from Barclays, Canaccord Genuity, RBC Capital, and Goldman Sachs have all increased their price targets for Rivian, citing positive updates from the company's recent investor day. Rivian reaffirmed its production guidance and positive adjusted gross profit expectations, and announced a joint venture with Volkswagen, which will invest up to $5 billion in the company.

Portfolio Pulse from Adam Eckert

July 01, 2024 | 3:26 pm

COSM

Cosmos Health Inc. (NASDAQ:COSM) has signed a distribution agreement with ZENDON s.r.o. to distribute its Sky Premium Life nutraceutical products in Slovakia, Hungary, Poland, and Czechia. This agreement grants Cosmos Health access to over 6,000 stores of pharmacy and retail chains in these countries.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 3:23 pm

SAVA

Cassava Sciences (NASDAQ:SAVA) is cooperating with the DOJ and SEC amid investigations into its Alzheimer's drug, simufilam. The DOJ indicted Dr. Hoau-Yan Wang for fraudulent grant applications and manipulating research results. Cassava's internal investigation revealed potential unblinding of Phase 2b study participants. Despite the controversy, Cassava is proceeding with two Phase 3 clinical trials.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 3:19 pm

INTC

MANU

QCOM

Qualcomm Inc (QCOM) has signed a sponsorship deal with Manchester United Ltd (MANU) to become the front-of-shirt sponsor, aiming to increase awareness of its Snapdragon brand as it expands into personal computing. The deal is reportedly worth over $76 million annually.

Portfolio Pulse from Anusuya Lahiri

July 01, 2024 | 3:19 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares hit new all-time lows following a 1-for-30 reverse stock split aimed at regaining Nasdaq compliance. Despite delivering a hydrogen fuel cell-powered electric semi-truck to Walmart Canada, the stock continues to decline, trading well below its 50-day moving average. Analysts have a 12-month price target of $1, suggesting further downside.

Portfolio Pulse from Erica Kollmann

July 01, 2024 | 3:17 pm

SNTI

Senti Biosciences Inc (NASDAQ:SNTI) shares surged by 102.6% to $0.56 after receiving an $8 million grant from the California Institute for Regenerative Medicines to support the development of SENTI-202, an investigational cell therapy for treating relapsed/refractory hematologic malignancies, including acute myeloid leukemia (AML). The ongoing Phase 1 trial aims to provide initial efficacy data by the end of 2024 and durability data in 2025.

Portfolio Pulse from Henry Khederian

July 01, 2024 | 3:17 pm

RELI

Reliance Global Group, Inc. (NASDAQ:RELI) shares are trading higher after a 1-for-17 reverse split. The company announced a new Real Estate division, set to launch after acquiring Spetner Associates in the second half of 2024. Shares are up 10% at $4.23, despite a year-to-date loss of 95.09%.

Portfolio Pulse from Erica Kollmann

July 01, 2024 | 3:17 pm

BTCUSD

Bitcoin's price rebound has led to mixed reactions from traders and analysts. Prominent trader DonAlt sees the weekly close as a bearish retest, while another trader compares the current scenario to Q3 2023, suggesting more consolidation before a potential rise. Bitcoin's price pushed above $63,000 on Monday, with spot ETFs seeing significant inflows. Data shows a drop in large transaction volume and exchange netflows, but 88% of holders are in profit.

Portfolio Pulse from Khyathi Dalal

July 01, 2024 | 3:17 pm

PYPL

Deep-pocketed investors have shown a bullish trend towards PayPal Holdings (NASDAQ:PYPL) through significant options activities. Benzinga's options scanner highlighted 10 extraordinary options trades, with 60% of the sentiment being bullish. The price window eyed by these investors ranges from $50.0 to $90.0. The current price of PYPL is $58.29, up 0.45%, with RSI indicators suggesting it may be approaching oversold. Analysts have mixed ratings, with a consensus target price of $76.4.

Portfolio Pulse from Benzinga Insights

July 01, 2024 | 3:16 pm

ELF

RBLX

Roblox (NYSE:RBLX) and E.L.F Beauty (NYSE:ELF) have expanded their collaboration, with E.L.F Beauty launching a digital storefront in Roblox's e.l.f. UP! experience to sell real-world merchandise. This move aims to enhance brand engagement and provide a seamless shopping experience for users.

Portfolio Pulse from Dylan Berman

July 01, 2024 | 3:14 pm