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U.S. stocks saw a slight decline with the S&P 500, Dow, and NASDAQ all falling. AT&T reported a slight revenue decrease but beat EPS estimates. BranchOut Food, Amesite, and B. Riley Financial shares surged following positive company news, while Evotec, Avenue Therapeutics, and iSun shares plummeted. Oil and gold prices fell, while copper and silver also saw declines.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 6:33 pm

AMGN

CGEM

Cullinan Therapeutics Inc's stock is trading higher due to positive implications from an academic case study on Amgen Inc's Blincyto for treating severe systemic sclerosis, which supports Cullinan's expansion into autoimmune diseases with its similar therapy, CLN-978. The company plans to target systemic lupus erythematosus (SLE) first, with a Phase 1 submission expected in Q3. William Blair rates Cullinan shares as Outperform, highlighting the potential of its diverse portfolio, including CLN-619 for cancer and CLN-978 for autoimmune diseases, with a fair share value of $33. Key catalysts include updated data for CLN-619 and CLN-978 expected in 2024.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 6:29 pm

NFLX

TKO

Netflix Inc (NASDAQ: NFLX) is set to air a live comedy roast of Tom Brady, titled 'The Greatest Roast of All Time: Tom Brady,' on May 5, marking its first live roast event. This event is part of Netflix's broader strategy to expand into sports and live content, following the success of sports-adjacent docuseries and live specials. The company has also ventured into live sports specials, a live comedy special, and recently signed a deal with World Wrestling Entertainment, a unit of TKO Group Holdings (NYSE: TKO), to enhance its sports content library.

Portfolio Pulse from Chris Katje

April 24, 2024 | 6:24 pm

BIIB

ESALY

Leqembi, an Alzheimer's drug developed by Eisai Limited (OTC:ESALY) and Biogen Inc (NASDAQ:BIIB), is experiencing slow adoption nine months post-U.S. launch due to skepticism among doctors about its efficacy, costs, and risks. Despite FDA approval and showing a 27% slowdown in cognition decline, less than half of U.S. neurologists recommend it, citing limited patient benefit and significant risks, including potential brain swelling and bleeding. The drug's high cost and the need for regular MRIs and bi-monthly infusions add to the concerns. Eisai and Biogen aim to increase their sales force by 30% to reach 100,000 patients by 2026, despite only a couple thousand patients starting treatment as of January.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 6:23 pm

CHWY

Investors have shown a bearish stance on Chewy (NYSE:CHWY), with options trading indicating a split sentiment of 20% bullish and 50% bearish. Benzinga's options scanner revealed 10 unusual trades, with a focus on a price window from $15.0 to $70.0 for Chewy. The largest trades were calls, with the most significant being a bullish call sweep for a $15.00 strike price expiring on 01/16/26, totaling $112.6K. Chewy, a leading e-commerce pet care retailer, reported $11.2 billion in 2023 sales. Currently, CHWY's stock is down by -1.63%, trading at $15.35, with an analyst from Piper Sandler maintaining a Neutral rating and a target price of $16.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 6:01 pm

ETH-USD

MATIC-USD

Donald Trump's cryptocurrency portfolio has seen a significant increase, with a $1 million profit over the past week, raising its value to $6.45 million. His portfolio includes MAGA Memecoin (TRUMP), Ethereum (ETH), WETH, BABYTRUMP, and Polygon (MATIC). This growth is attributed to his sale of Trump-themed NFTs and marks a shift from his previously skeptical view of cryptocurrencies. The interest in celebrity crypto holdings highlights the growing institutional acceptance of digital assets.

Portfolio Pulse from Murtuza Merchant

April 24, 2024 | 5:59 pm

TDOC

Teladoc Health (TDOC) shares experienced increased trading volume following rumors that UnitedHealth's Optum is shutting down its virtual care business. This development could potentially impact Teladoc's market position and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:50 pm

SPY

TSLA

Tesla, Inc. (TSLA) experienced a significant post-earnings price increase, despite missing earnings estimates, illustrating the market's short-term speculative nature. A trader capitalized on this by placing a bullish options trade on TSLA, resulting in a 173% overnight profit. Additionally, the Portfolio Armor Substack's strategy of buying top names and using trailing stops has outperformed the SPDR S&P 500 Trust ETF (SPY) by 21.82% over various six-month periods.

Portfolio Pulse from David Pinsen

April 24, 2024 | 5:43 pm

TSM

TSMC executive announced that the 'A16' chip manufacturing technology is scheduled to start production in the second half of 2026. This announcement was made during a conference, indicating a significant development in TSMC's production capabilities and timelines for future technology.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:36 pm

TSLA

Despite missing Q1 analyst estimates, Tesla Inc (NASDAQ:TSLA) shares surged, attributed to sentiment change and Elon Musk's comments on AI and robotaxis. Jim Cramer believes TSLA could reach $175 today, despite a year-to-date decline of 36%.

Portfolio Pulse from Adam Eckert

April 24, 2024 | 5:36 pm