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COIN

The article discusses a strategy for taking advantage of the pullback in cryptocurrency by focusing on 'picks and shovels' plays, particularly highlighting a bullish stance on Coinbase Global, Inc. (NASDAQ:COIN) despite its recent earnings beat not spiking the stock price, likely due to a pullback in Bitcoin. The author plans to place a bullish bet on COIN, aiming for a 20% upside by the next earnings release, and also mentions holding a bullish options trade on another unnamed company releasing earnings this week.

Portfolio Pulse from David Pinsen

May 07, 2024 | 6:33 pm

F

Ford is planning to limit the sales of petrol cars in the UK to meet its electric vehicle (EV) targets, according to the Financial Times.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:32 pm

JNJ

Johnson & Johnson (NYSE:JNJ) shared data on its TARIS platform for bladder cancer, with Goldman Sachs noting a peak revenue potential of over $5 billion. The therapy, requiring no general anesthesia, targets high-risk bladder cancer patients, with a submission planned for early 2025. JNJ's stock rose 0.22% to $148.90.

Portfolio Pulse from Vandana Singh

May 07, 2024 | 6:31 pm

BIDU

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped 3.31% to $178.64 amid news of CEO Elon Musk's visit to China, where he proposed testing Tesla's full self-driving (FSD) capabilities as taxis. The Chinese government showed partial support for the proposal. Additionally, Tesla is in the news for a potential collaboration with Baidu, Inc. (NASDAQ:BIDU) on autonomous driving technologies, though no new deal has been confirmed. Tesla also plans to shut down production in Grünheide for four days due to protests.

Portfolio Pulse from Nabaparna Bhattacharya

May 07, 2024 | 6:11 pm

DIS

PENN

PGA of America has entered into a sports betting partnership with Penn Entertainment, making ESPN Bet the 'Official Sports Betting Sponsor' of the PGA Championship through 2026. This partnership marks a significant collaboration between a major sports organization and a betting company, aiming to enhance the golfing experience with integrated betting opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:05 pm

BTCUSD

Cryptocurrency trader 0xsmac remains highly optimistic about the crypto market's future, suggesting we're only 1/3 through the current bull run. He highlights the early stage of institutional and retail investment, the impact of a Bitcoin ETF approval, and the unique market dynamics, including the role of memecoins and the recent Bitcoin halving, as indicators of a robust appetite for digital assets. The upcoming Future of Digital Assets event on Nov. 19 is set to further discuss these trends.

Portfolio Pulse from Murtuza Merchant

May 07, 2024 | 5:50 pm

IYW

MSFT

XLK

Microsoft Corp. has launched an isolated generative AI model, designed exclusively for U.S. intelligence agencies to analyze classified data. This AI, based on GPT4 technology, operates in an air-gapped environment, ensuring high security. It's the first major AI model to function entirely offline. The development took 18 months, aiming to enhance intelligence data analysis while securing data against leaks. Microsoft's stock, part of the Technology Select Sector SPDR Fund (XLK) and iShares U.S. Technology ETF (IYW), has seen over 33% growth in the past year.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 5:36 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) is closing several Bethesda studios, including Arkane Austin, Tango Gameworks, and Alpha Dog Studios, as part of a restructuring effort. This move will likely lead to the cancellation of updates for various games and result in job losses. The closures are part of a strategy to focus on high-impact projects within Bethesda's portfolio. The gaming industry is currently experiencing a wave of layoffs, with over 10,000 workers affected last year. Despite these cuts, Microsoft remains committed to its gaming endeavors, with several upcoming releases.

Portfolio Pulse from Franca Quarneti

May 07, 2024 | 5:31 pm

CLSK

Financial analysis of Cleanspark (NASDAQ:CLSK) reveals a mixed sentiment among traders, with an equal split between bullish and bearish positions. The analysis of options trading indicates a target price range of $12.0 to $35.0. Cleanspark, a bitcoin mining company, has seen its stock price decrease by -1.32% to $17.2. Analysts have set a consensus target price of $21.0, with varying opinions from HC Wainwright & Co. and JP Morgan. The company's next earnings report is expected in 2 days.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 5:31 pm

RCL

Royal Caribbean Group is engaging in discussions with new and existing markets globally to recruit thousands of workers for its ships and private destinations, responding to record cruise demand, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:28 pm