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JPMorgan's Commodities Research team predicts near-term consolidation in aluminum prices due to a surplus in China's market, but expects a long-term rebound driven by global supply constraints and increased demand. Alcoa (NYSE:AA) is strategically positioned to benefit from these dynamics, particularly due to its exposure to alumina and potential sale of its loss-making San Ciprian complex.

Portfolio Pulse from Surbhi Jain

June 03, 2024 | 7:30 pm

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Bitcoin investor Fred Krueger argues that Bitcoin is the only cryptocurrency worth buying, dismissing the top 20 cryptocurrencies as 'jokes' despite their combined market cap of over $500 billion. He criticizes Ethereum for underperformance and legal issues, Tether for lack of upside, and Binance Coin for centralization and leadership issues. Other cryptocurrencies like Solana, USDC, Ripple, and meme coins like Dogecoin and Shiba Inu are also dismissed for various reasons.

Portfolio Pulse from Khyathi Dalal

June 03, 2024 | 7:25 pm

NVDA

Nvidia shares are trading higher after the company unveiled its new AI chips on Sunday.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:22 pm

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LLY

Structure Therapeutics Inc. (NASDAQ: GPCR) revealed positive 12-week topline obesity data from its Phase 2a study of GSBR-1290, showing a significant weight decrease. Cantor Fitzgerald maintains an Overweight rating with a $65 price target, noting GSBR-1290's competitiveness with Eli Lilly's (NYSE: LLY) orforglipron. The study's rapid titration schedule led to high GI events, but these are expected to reduce with a slower schedule without affecting efficacy.

Portfolio Pulse from Vandana Singh

June 03, 2024 | 7:14 pm

SPY

USO

President Biden has announced the purchase of an additional 3 million barrels of oil for the Strategic Petroleum Reserve. This move is likely to impact the energy sector and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:11 pm

GSK

GSK's Blenrep combination therapy significantly reduces the risk of disease progression or death in pretreated multiple myeloma patients, according to interim results from the DREAMM-8 phase 3 trial. The therapy showed a statistically significant improvement in progression-free survival compared to the standard of care. However, GSK shares were down 8.74% following the news.

Portfolio Pulse from Vandana Singh

June 03, 2024 | 7:08 pm

NVDA

Analysts from Goldman Sachs and BofA Securities have reiterated their Buy ratings on Nvidia (NASDAQ: NVDA) shares, citing strong growth prospects in data centers, AI, and gaming. Nvidia's CEO Jensen Huang's keynote at Computex 2024 highlighted the company's ongoing innovation in GPUs, CPUs, and networking hardware, as well as its leadership in AI and robotics platforms. Analysts expect Nvidia to maintain its competitive edge and foresee positive EPS revisions driving continued stock outperformance.

Portfolio Pulse from Shivani Kumaresan

June 03, 2024 | 6:56 pm

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Koss Corp (NASDAQ:KOSS) has experienced a significant stock price surge due to Keith Gill, aka 'Roaring Kitty,' re-emerging on social media. Despite the excitement, Koss's fundamentals are weak, with declining net sales and increased net losses. Technical analysis shows a bullish trend, but caution is advised as meme stock rallies often lead to pullbacks.

Portfolio Pulse from Surbhi Jain

June 03, 2024 | 6:46 pm

BIIB

DAL

Biogen Inc. (NASDAQ:BIIB) shares surged after announcing a partnership with Delta Flight Products, a subsidiary of Delta Air Lines (NYSE:DAL), to enhance air travel accessibility for passengers with reduced mobility. The collaboration aims to develop innovative solutions, including a new airplane seat prototype that allows passengers to remain in their wheelchairs during flights.

Portfolio Pulse from Vaishali Prayag

June 03, 2024 | 6:43 pm

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U.S. stocks traded mostly lower with the Dow Jones falling over 300 points. GameStop shares spiked 35% after a Reddit post by Roaring Kitty. Bio-Path Holdings and Microbot Medical saw significant gains due to positive news, while CalAmp Corp shares plummeted 60% following a Chapter 11 bankruptcy filing. Lattice Semiconductor and CNS Pharmaceuticals also experienced notable declines.

Portfolio Pulse from Avi Kapoor

June 03, 2024 | 6:35 pm