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MNMD

A top federal drug official has expressed significant excitement around the potential of psychedelic medicine, while cautioning that it is not a magical solution. This statement highlights the growing interest and research in the field of psychedelics for medical use.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:47 pm

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) leads the global chip market by revenue in Q1, while China's SMIC climbs to third place. TSMC holds 62% market share, followed by Samsung Foundry at 13%, and SMIC at 6%. SMIC's revenue increased by 19.7% YoY, driven by demand recovery in China. TSMC projects 10% annual growth in the semiconductor industry, excluding memory chips, and expects up to 30% Q2 sales growth.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 3:43 pm

HES

IYE

XLE

XOM

Exxon Mobil Corporation (XOM) and its consortium partners, including Hess Corp (HES) and CNOOC Ltd., face an October deadline to decide on the development of a large natural gas find off the coast of Guyana. The Guyanese government is pressing for development or relinquishment of 20% of the Stabroek block if it remains undeveloped. Exxon is currently appraising the gas findings and considering commercialization options. The consortium's exploration agreement runs through 2027. Additionally, Norway's sovereign wealth fund plans to vote against the reappointment of Exxon's lead independent director due to a lawsuit against climate activist investors.

Portfolio Pulse from Lekha Gupta

May 24, 2024 | 3:42 pm

DELL

Dell shares are trading higher, likely due to strength in AI-related stocks following NVIDIA's earnings and the introduction of a portfolio of AI PCs.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:37 pm

COIN

MARA

RIOT

Shares of crypto stocks are trading higher in possible reaction to spot Ethereum ETF approval.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:32 pm

MARA

Marathon Digital Holdings has entered into an agreement with the Ministry of Energy and Petroleum of Kenya to support energy utilization and optimize renewable energy projects across the country.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:28 pm

ETHUSD

Technical chart analyst Ali Martinez discusses the potential impact of the Ethereum ETF approval on ETH prices, highlighting significant transfers of ETH to exchanges and potential sell-off risks. He identifies key resistance and support levels for ETH, suggesting possible short-term downside risk but also potential for upward movement if certain conditions are met.

Portfolio Pulse from Khyathi Dalal

May 24, 2024 | 3:25 pm

MULN

Mullen Automotive (NASDAQ:MULN) has announced GAMA as a new distribution partner for southeastern Europe, covering the Balkans Region. GAMA's initial order includes 53 commercial EVs. Additionally, Mullen received approval for Foreign Trade Zone status in Mississippi, which offers financial benefits. MULN shares rose by 5.74% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 3:22 pm

GNLX

Genelux Corporation (NASDAQ:GNLX) shares dropped by 40.7% to $2.73 after announcing an underwritten offering of 6.875 million shares and accompanying warrants at $4.00 each. The offering aims to raise approximately $27.5 million before expenses to support corporate activities and the clinical development of Olvi-Vec. The offering is expected to close around May 29, 2024.

Portfolio Pulse from Henry Khederian

May 24, 2024 | 3:19 pm

IOVA

Iovance Biotherapeutics (NASDAQ: IOVA) shares are trading higher following the announcement of promising clinical data for lifileucel in combination with pembrolizumab for treating frontline advanced melanoma. The data, to be presented at the 2024 ASCO Annual Meeting, showed a 65.2% overall response rate in patients. HC Wainwright & Co. analyst Joseph Pantginis reiterated a Buy rating with a $32 price target.

Portfolio Pulse from Dylan Berman

May 24, 2024 | 3:18 pm