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ABBV

AMRS

CRBP

CRDL

HRMY

JAZZ

NTEC

PFE

Roy Bingham, CEO of BDSA, projects the U.S. cannabis market to reach nearly $46 billion by 2028, driven by adult-use and medical market expansion. The DEA's reclassification of cannabis to Schedule III is expected to spur medical research and investment, with significant growth anticipated in pharmaceutical applications and medical cannabis products. This rescheduling may reduce financial pressures on cannabis businesses and attract investment from healthcare and pharmaceutical companies. Despite federal restrictions, the shift is seen as an opportunity for healthcare and pharmaceutical industries to invest in cannabinoid research, potentially impacting medication use and fostering innovation in the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

May 14, 2024 | 5:32 pm

SAGE

Sage Therapeutics' CEO announced the company is open to partnerships for its Huntington's disease drug, citing significant inbound interest. This openness to collaboration could potentially accelerate the drug's development and market entry, signaling a strategic move to enhance its pipeline and market presence.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 5:31 pm

NXPI

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSM) is set to begin construction of its first European semiconductor facility in Dresden, Germany, in Q4 2024, with production starting in 2027. The $11 billion project, named European Semiconductor Manufacturing Co (ESMC), sees Infineon, NXP Semiconductors (NXPI), and Robert Bosch each holding a 10% share. TSMC expects to receive subsidies under the European Chips Act, with strong EU and German government support. The Dresden facility will initially produce 22-nanometre node chips for automotive microcontrollers, with plans for future expansion. TSMC's expansion efforts also include a new facility in Japan. The company's April sales surged 60% to $7.3 billion, attributed to the AI boom and a recovery in consumer electronics, projecting a significant sales increase this quarter. TSMC stock has gained over 75% in the last 12 months, and investors can gain exposure through the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX).

Portfolio Pulse from Anusuya Lahiri

May 14, 2024 | 5:30 pm

SIDU

Sidus Space, Inc. (NASDAQ:SIDU) announced the successful completion of the commissioning phase for LizzieSat-1 (LS-1), which was launched via SpaceX Falcon 9. The satellite has now entered the payload activation phase, with Sidus Space focusing on executing mission-critical tasks to meet payload mission success criteria. SIDU shares rose 4.16% to $3.25 following the news.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 5:18 pm

NVO

Novo Nordisk (NYSE:NVO) has seen a notable increase in options activity, with a bearish sentiment prevailing among financial giants. Analysis of 10 unusual trades revealed a 70% bearish inclination, with significant trades focusing on a price band between $100.0 and $145.0. The trading volume and open interest suggest a keen market focus on Novo Nordisk, which holds a dominant position in the global diabetes treatment market. The stock's current trading volume is 1,844,849, with a slight price increase of 0.06%, and an RSI indicating a potential overbought state. An analyst from Cantor Fitzgerald has downgraded the stock to Overweight with a price target of $160.

Portfolio Pulse from Benzinga Insights

May 14, 2024 | 5:15 pm

LCID

PSNY

RIVN

TSLA

VFS

Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for Tesla, Rivian, VinFast, and Polestar, with respective price targets of $230, $15, $8, and $5. Lucid received a Sell rating with a $4 price target. Sheppard highlighted Tesla's price cut on autonomous driving technology and its deal with Baidu as positive, Rivian's Amazon deal and market expansion, VinFast's price advantage and dealer network, and Polestar's production shift to the US as encouraging. Lucid's slower production ramp-up and additional capital needs were seen as negatives.

Portfolio Pulse from Hayden Buckfire

May 14, 2024 | 5:13 pm

DELL

INTC

Dell Technologies Inc. (NYSE:DELL) shares are rising after announcing an expansion and upgrades to its server portfolio, specifically the Dell PowerEdge servers. These upgrades aim to enhance performance and efficiency, catering to a wide range of organizations. The new servers, including the Dell PowerEdge R670 and R770 CSP Edition, feature Smart Cooling technology for energy efficiency and are designed for easier deployment. Intel Corporation (NASDAQ:INTC) is collaborating with Dell by providing the Intel Xeon 6 Efficient core processor, promising up to 2.3x more performance per rack compared to previous generations.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 5:12 pm

EADSY

ITA

PPA

Boeing Inc. reported a decrease in April commercial airplane deliveries to 24, down from 26 a year ago, amid efforts to enhance 737 MAX production quality. The company faced 33 cancellations, mainly due to Lynx Air's cessation. Despite this, Boeing recorded seven new orders in April, contributing to a total of 138 gross orders for the year. In contrast, Airbus SE saw a 13% increase in deliveries with 61 aircraft in April. Boeing's Q1 revenue declined by 8% year-over-year, but its adjusted loss per share improved, beating consensus estimates. Boeing stock has lost over 10% in the last 12 months but is trading higher by 1.7% at the last check.

Portfolio Pulse from Shivani Kumaresan

May 14, 2024 | 5:04 pm

AAPL

GOOG

GOOGL

Apple Inc. is leveraging AI advancements to enhance iOS user experiences, with BofA Securities' analyst Wamsi Mohan maintaining a Buy rating and a price target of $230, indicating a 23.5% upside. The recent OpenAI demo highlighted the potential for innovative app development on Apple devices, emphasizing Apple's leadership in AI integration and its potential to benefit from AI at the edge, which could drive higher institutional ownership of Apple's stock.

Portfolio Pulse from Surbhi Jain

May 14, 2024 | 4:59 pm