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ETH-USD

Ethereum co-founder Vitalik Buterin introduces 'Degen Communism,' a novel political ideology aimed at embracing chaos for the common good, applicable to crypto projects and other sectors. The concept comes as the crypto market, including Ethereum and meme coins like Dogecoin, experiences volatility. Buterin's idea suggests modifying rules and incentives to ensure equitable benefits and minimized risks, especially in volatile markets.

Portfolio Pulse from Ivan Crnogatić

April 01, 2024 | 5:38 pm

AMD

AVGO

INTC

MRVL

MU

NVDA

BofA Securities analyst Vivek Arya highlighted Nvidia Corp (NVDA) and Broadcom Inc (AVGO) as top picks in the AI market, with a significant growth forecast. Arya also identified AMD, Micron (MU), and Marvell Technology (MRVL) as emerging contenders benefiting from the market expansion. Arya's analysis suggests a doubling of the AI accelerator market to $200 billion by 2027, with NVDA expected to maintain a dominant share. Price targets for NVDA, AVGO, AMD, MU, and MRVL were provided, reflecting optimism in their growth potential within the AI sector.

Portfolio Pulse from Anusuya Lahiri

April 01, 2024 | 5:33 pm

SRZN

Surrozen Inc (NASDAQ:SRZN) announced a private placement for common stock and warrants, aiming to raise approximately $192.5 million if all warrants are exercised. The initial proceeds of about $17.5 million will support the SZN-043 clinical development for severe alcohol-associated hepatitis and other purposes. The funds, along with existing cash, are expected to cover expenses through the first half of 2025. Surrozen also updated on the Phase 1a trial of SZN-043, showing safety and potential efficacy. SRZN shares dropped 27.1% to $11.00.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 5:14 pm

MSFT

OpenAI announced that starting Monday, users will be able to use ChatGPT instantly without the need for signing up. This move is expected to significantly increase the accessibility and usage of ChatGPT.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:13 pm

BYDDY

TSLA

BYD Co. Ltd. reported a year-over-year increase in Q1 BEV sales but saw a decline from the previous quarter. Despite this, Tesla, Inc. is expected to report a year-over-year drop in deliveries for the first time since COVID-19, potentially allowing BYD to maintain its lead as the world's biggest battery EV manufacturer. Tesla's Q1 delivery estimates are lower than consensus, amid slowing EV adoption and intense competition.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 5:10 pm

MP

MP Materials' stock is trading higher following the announcement that the company has been awarded $58.5 million to enhance U.S. rare earth magnet manufacturing capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:08 pm

GD

General Dynamics' stock price increased following the FAA certification of its Gulfstream G700 model.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:54 pm

CXAI

GOOG

GOOGL

CXApp Inc (NASDAQ:CXAI) shares surged after announcing a strategic partnership with Alphabet Inc's Google Cloud, focusing on the launch of its CXAI Platform. The collaboration includes end-to-end security, analytics, monitoring, and SaaS performance enhancements for CXApp clients. The partnership also involves the development of CXApp's Work SuperApp, generative AI applications, experiential analytics, and enterprise customer applications, all powered by Google Cloud. The CXAI Platform will be added to Google Marketplace, with Google teams assisting in targeting key clients.

Portfolio Pulse from Adam Eckert

April 01, 2024 | 4:51 pm

CADL

Candel Therapeutics Inc (NASDAQ:CADL) reported updated data from a phase 1b trial of CAN-3110, showing promising results in treating recurrent high-grade glioma (rHGG). The trial observed a significant increase in median overall survival rates among patients, nearly doubling the expected survival compared to historical data. Over 50 patients have been treated, with positive HSV-1 serology indicating improved survival outcomes. Additionally, Candel shared interim data from a phase 2 trial of CAN-2409 for pancreatic ductal adenocarcinoma. The company's financials show $35.4 million in cash, expected to fund operations into Q4 2024. CADL shares rose 8.86% to $1.72.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 4:49 pm

BAX

Baxter International Inc. received FDA 510(k) clearance for its Novum IQ large volume infusion pump (LVP) with Dose IQ Safety Software, aiming to streamline clinical operations and enhance safety with features like a common user interface, web-based drug library, and over-the-air software updates. The approval could bolster Baxter's market position in medical devices.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 4:38 pm