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CSCO

Cisco Systems Inc (NASDAQ:CSCO) is poised for growth acceleration from 2025 onwards, driven by its $28 billion acquisition of Splunk, security sector growth, and AI advancements. BofA Securities upgraded Cisco's rating from Neutral to Buy, raising the price target from $55 to $60. The acquisition of Splunk is highlighted for offering 'great growth synergies,' and despite recent underperformance due to Networking weakness, the company's outlook is optimistic with expected market share gains in Ethernet-based AI buildouts.

Portfolio Pulse from Priya Nigam

April 15, 2024 | 3:19 pm

BP

EIPX

HJEN

BP p.l.c. (NYSE:BP) is reducing its workforce in the electric vehicle charging business, BP Pulse, by over 10%, focusing on the U.S., Britain, Germany, and China for EV market growth. The company aims to have 100,000 charging points by 2030, despite cutting jobs and reducing operations from 12 countries to four. This move is part of CEO Murray Auchincloss' strategy to concentrate on profitable segments. BP shares slightly fell by 0.03% to $39.43. Investors can also engage with BP through Direxion Hydrogen ETF (NYSE:HJEN) and First Trust Energy Income Partners Strategy ETF (NYSE:EIPX).

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 3:03 pm

DIS

Disney is introducing a new streaming concept that mimics old-style TV channels to retain viewers. This innovative approach aims to blend traditional TV's simplicity and familiarity with modern streaming's flexibility and content variety.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:02 pm

ONVO

Organovo Holdings, Inc. (NASDAQ:ONVO) shares surged after announcing positive Phase 2 results for FXR314, a treatment for metabolic function-associated steatohepatitis (MASH). The study showed a significant reduction in liver fat content and high tolerability of FXR314. The news led to heavy trading volume, with over 45 million shares traded, far exceeding the 100-day average.

Portfolio Pulse from Erica Kollmann

April 15, 2024 | 2:56 pm

BTCUSD

ETHUSD

Hong Kong's approval of Bitcoin and Ether ETFs, managed by firms like China Asset Management and HashKey, marks a significant move in the digital asset space. These ETFs offer lower costs and reduced risks, aiming to position Hong Kong as a digital asset hub. The success may depend on mainland Chinese investors' participation, potentially accessed through the Southbound Connect program. This development could influence global Bitcoin demand and the stance on virtual currencies, with implications for the cryptocurrency market.

Portfolio Pulse from Ivan Crnogatić

April 15, 2024 | 2:46 pm

RARE

Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) reported promising results from a Phase 1/2 study of GTX-102 for Angelman syndrome, showing significant improvements across multiple domains. Despite these positive outcomes, the stock fell 9.55% due to reports of serious adverse events in three patients.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 2:40 pm

BAC

Smart money investors have shown a bearish stance on Bank of America (BAC) through significant options trading activity, with a split sentiment of 22% bullish and 77% bearish. The options trades suggest a price target range of $28.0 to $42.0. BAC's current market status shows a 1.48% increase in stock price to $36.32, with an upcoming earnings report. Analyst ratings vary, with an average target price of $39.8, ranging from $37 to $44.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 2:31 pm

ARM

ARM Holdings (NASDAQ:ARM) has seen significant options trading activity, with a bearish sentiment prevailing among financial giants. Analysis of 13 unusual trades revealed a bearish bias, despite 38% of traders being bullish. The options trades suggest a price target range of $100.0 to $162.5 for ARM. The company, a major player in smartphone CPU cores and other battery-powered devices, has its stock currently down -1.49% at $124.45. Analyst ratings in the last month have varied, with an average target price of $109.33.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 2:31 pm

MRNS

Marinus Pharmaceuticals Inc (NASDAQ:MRNS) stock hit a 52-week low after announcing the continuation of the Phase 3 RAISE trial for IV ganaxolone in treating refractory status epilepticus, with results expected in summer 2024. The company remains committed to its development plans, including the Phase 3 TrustTSC trial for Ztalmy, with topline results due in Q4 2024. Preliminary Q1 2024 revenue is between $7.4 and $7.6 million, with cash reserves of $113.3 million. Cost reduction strategies are being evaluated to extend the cash runway.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 2:13 pm

APD

Air Products (APD) has received funding from the Ministry of Economic Affairs, Industry, Climate Protection and Energy of North Rhine-Westphalia to build two hydrogen refueling stations in Duisburg and Meckenheim, Germany. These stations, part of a European network, aim to support zero-emission fleets by providing low-carbon energy for heavy-duty vehicles. This initiative aligns with North Rhine-Westphalia's goals to decarbonize heavy-duty transportation and expand its hydrogen infrastructure.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:09 pm