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Crystal Zhu has moved from JPMorgan Chase & Co (JPM) to Morgan Stanley (MS) as co-head of the Asia Pacific technology team, focusing on tech sector M&As and IPOs. This follows high-level exits at Morgan Stanley and comes amid efforts to boost its APAC presence and expand into Bitcoin ETFs. Morgan Stanley recently outperformed analyst revenue and EPS estimates for Q1 2024.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 5:01 pm

MSTR

Michael Saylor, MicroStrategy's executive chairman, criticized the current global financial system for being outdated and championed Bitcoin as a superior digital asset, calling it 'digital gold' and the 'apex property of the human race.' He emphasized Bitcoin's attributes like decentralization, scarcity, and security, advocating for a financial system overhaul to accommodate the digital era. His views were shared at a conference attended by Fortune 1000 company representatives, highlighting the need for a system that reflects the digital age's proficiency.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 4:37 pm

AMGN

Amgen's CEO, Robert Bradway, discussed innovation in healthcare at the Milken Conference, highlighting the company's efforts to gain approval for a small cell lung cancer treatment and to transform the understanding of obesity and its related diseases.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:31 pm

WULF

TeraWulf Inc (NASDAQ:WULF) shares increased by 11.2% to $2.43 without specific company news. The company reported mining 348 Bitcoins in April, with a power cost of $16,058 per bitcoin. It replaced older miners with 3,000 S19k Pro models, bringing the total to 4,100. Bitcoin production decreased by 5% from March, with 68% mined before the April 19th halving. Transaction fees increased post-halving, offsetting reduced block subsidies. Construction of Building 4 at Lake Mariner is on schedule, expected to enhance operational capacity. TeraWulf is also planning a high-performance computing (HPC) / AI project at Lake Mariner.

Portfolio Pulse from Henry Khederian

May 06, 2024 | 4:22 pm

ETHUSD

SOLUSD

Joe McCann, founder of Asymmetric, expressed a bullish outlook on Solana (SOL), citing its high throughput, low transaction costs, and the upcoming 'Fire Dancer' update aimed at increasing transaction capacity. He compared Solana's potential impact on the crypto market to the role of meme coins and discussed the concept of 'financial nihilism' among younger generations. The discussion anticipates further exploration at the Benzinga Future of Digital Assets event.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 4:20 pm

EWJ

INTC

Intel is forming a team in Japan to focus on automating chip manufacturing processes, according to Nikkei. This move is part of Intel's broader strategy to enhance efficiency and reduce costs in its semiconductor production operations. The initiative in Japan is expected to leverage the country's technological expertise in robotics and automation, areas in which Japan has historically been a global leader.

Portfolio Pulse from Charles Gross

May 06, 2024 | 4:18 pm

BA

DFEN

ITA

Boeing Co (NYSE:BA) is set to launch its Starliner spacecraft, developed with NASA, on its first mission with astronauts to the ISS. The mission is crucial for Boeing's future in space exploration and for obtaining NASA's certification for routine crew rotations. Despite past challenges with Starliner, including software and mechanical issues, this launch is a significant step for Boeing, which has seen its stock decline by 8% over the last year. Investors can also engage with Boeing's performance through ETFs like the iShares U.S. Aerospace & Defense ETF (BATS:ITA) and the Direxion Daily Aerospace & Defense Bull 3X Shares (NYSE:DFEN).

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 4:17 pm

W

Wayfair (NYSE:W) has seen a significant uptick in options trading, with a bullish sentiment from big-money traders. Benzinga's options scanner revealed 22 trades, predominantly bullish, focusing on a price band between $25.0 and $85.0. The company, specializing in e-commerce for home goods, has seen its stock price increase by 4.48% to $66.44. Analysts have varying opinions, with target prices ranging from $58 to $79. The next earnings report is expected in 87 days.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 4:16 pm

VRTX

Smart money investors have shown significant interest in Vertex Pharmaceuticals (NASDAQ:VRTX) options, with an unusual volume of trades indicating a mixed sentiment. The trades, split evenly between bullish and bearish, focus on a price range of $380 to $450 for VRTX. Analysts have varying opinions on VRTX, with target prices ranging from $371 to $466. The company's key products include treatments for cystic fibrosis and it's exploring therapies for other serious diseases. VRTX's stock is currently neutral with a slight increase in price.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 4:15 pm

BYND

Beyond Meat has expanded its product portfolio at Whole Foods Market by introducing the Beyond Stack Burger™, a new addition available nationwide. This launch, timed with national burger month, adds to Beyond Meat's extensive range of plant-based meat products at Whole Foods Market. The Beyond Stack Burger is designed for easy cooking and customization, aligning with Beyond Meat's commitment to offering nutritious, sustainable plant-based options.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:02 pm