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CMMB

Chemomab Therapeutics' stock price increased following the announcement of a new study that supports the clinical relevance of its CCL24 target in systemic sclerosis, linking it to disease severity and mortality.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:59 pm

KeyBanc Capital Markets analyst Eric Heath upgraded Zscaler Inc (NASDAQ:ZS) to Overweight with a price target of $220, citing positive Q1 feedback and leadership in the SASE market. The upgrade reflects a modest premium to the over 20% growth group, with reasons including easing competitive concerns, catalysts for SASE adoption, positive channel and survey feedback, and the stock trading in-line with its growth group.

Portfolio Pulse from Priya Nigam

April 18, 2024 | 4:57 pm

AMD

INTC

NVDA

At Data Center World 2024, AMD and Intel showcased their AI and GPU advancements for data centers, emphasizing energy efficiency and AI-driven automation. Intel's Huffstetler highlighted the need for energy-efficient hardware and GenAI models, while AMD's Smith discussed the structural upgrades needed for AI integration in data centers. Analysts noted AMD's competitive positioning against Nvidia, especially in the server CPU and merchant accelerators market, with potential revenue synergies from the Xilinx acquisition.

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 4:57 pm

GOOG

GOOGL

Google's CEO Sundar Pichai announced plans to share more about the company's progress in artificial intelligence (AI) during its upcoming earnings call. This move highlights the increasing importance of AI in Google's strategy and operations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:53 pm

AHOY

BMI

PSCT

Badger Meter, Inc (NYSE:BMI) reported a 23% year-on-year sales growth for Q1 2024, reaching $196.3 million and surpassing the consensus of $182.3 million. EPS was $0.99, beating the consensus of $0.82. Utility water sales rose by 29%, driven by customer adoption of its smart water solutions. However, flow instrumentation product sales dropped by 3%. Despite a slight decrease in gross margin to 39.3%, operating margin improved significantly to 18.6%. The company's cash position was strong at $199.3 million, with $21.5 million generated in operating cash flow. BMI stock has seen over a 46% increase in the last 12 months and is up 15.8% to $177.24. Investors can also gain exposure to BMI through Tidal ETF Trust Newday Ocean Health ETF (NYSE:AHOY) and Invesco S&P SmallCap Information Technology ETF (NASDAQ:PSCT).

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 4:52 pm

LLY

NVO

The GLP-1 class of weight loss drugs, including Novo Nordisk's Wegvoy and Eli Lilly's Zepbound, are facing shortages expected to last until 2025 due to high demand. Eli Lilly's production delays are attributed to the overwhelming popularity of these drugs, with efforts underway to increase production at a new facility in North Carolina. Despite these efforts, limited availability of certain doses of Eli Lilly's drugs, including Mounjaro and Zepbound, is anticipated in the near term. Sales of these drugs surged to almost $11 billion in 2023, highlighting their significant impact on the market.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 4:50 pm

RIVN

Needham analyst Chris Pierce maintains a Buy rating on Rivian Automotive (NASDAQ:RIVN) but lowers the price target from $18 to $13, citing concerns over electric vehicle demand but noting better than feared demand for the R1S. Pierce updates delivery estimates for Rivian, with figures for 2024 and 2025 below consensus but 2026 and 2027 above. The R2 vehicle launch is seen as a long-term positive, though not a near-term catalyst. Rivian's strategy includes reducing planned capex by delaying the build-out of its Georgia plant. The analyst's bull case for Rivian is a $24 price target, with a bear case at $7.50. Rivian shares are up 2% to $8.93, with a 52-week range of $8.26 to $28.06, and a year-to-date decrease of 63% in 2024.

Portfolio Pulse from Chris Katje

April 18, 2024 | 4:49 pm

META

NVDA

Nvidia Corp has announced optimizations across all its platforms to accelerate Meta Llama 3, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:47 pm

AAPL

NVDA

SMH

TSM

VWO

Taiwan Semiconductor Manufacturing Co (TSMC) exceeded Q1 financial expectations with a 16.5% revenue increase to $18.87 billion, driven by robust demand from AI firms. Despite this, TSMC's stock declined after the announcement. Apple and Nvidia are significant clients, with Apple reserving most of TSMC's 2nm production capacity. TSMC forecasts strong demand for its 3nm and 5nm technologies in Q2, expecting revenue between $19.6 billion and $20.4 billion. The company anticipates AI servers to double their revenue contribution in 2024, with a capital expenditure forecast of $28 billion to $32 billion focused on advanced technologies.

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 4:47 pm

BTCUSD

The upcoming fourth Bitcoin halving, scheduled for around April 20, will reduce miner rewards from 6.25 BTC to 3.125 BTC, impacting mining profitability and potentially influencing Bitcoin's price and ecosystem. Efficiency in mining operations will become crucial, and transaction fees will gain importance for miner revenue. The event could attract institutional investors due to the launch of spot Bitcoin ETFs, contributing to demand. Historical trends suggest possible price appreciation post-halving, but investors should be wary of volatility and macroeconomic factors.

Portfolio Pulse from Murtuza Merchant

April 18, 2024 | 4:30 pm