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IAG

SMMYY

Iamgold Corporation (NYSE:IAG) has achieved a significant milestone by pouring the first doré bar at its Côté project in northern Ontario, signaling a step closer to full-scale gold production. The Côté mine, a joint venture with Sumitomo Metals Mining (OTCPK: SMMYY), is expected to become one of Canada's largest gold producers. The project, which is designed for a fully automated haulage fleet, has an estimated mine life of 18 years with significant gold reserves and resources.

Portfolio Pulse from Stjepan Kalinic

April 02, 2024 | 7:39 pm

BTCUSD

Bitcoin has seen significant growth, rallying over 55% since the year's start and nearly 135% over the past year, driven by the approval of spot Bitcoin ETFs and anticipation of the upcoming halving event. Anthony Pompliano of Pomp Investments highlighted Bitcoin's recent milestones and predicted a potential 300% rally post-halving, attributing the surge to a combination of demand shock and upcoming supply shock. He also discussed Bitcoin as an inflation hedge and a forward-looking asset, especially in the context of rising inflation and the asset's performance against the US dollar.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 7:39 pm

BEAM

Beam Therapeutics' stock is trading lower following an announcement by Verve Therapeutics that it has paused enrollment in its Heart-1 clinical trial. This development is significant due to a prior license agreement between Verve and Beam, granting Verve access to Beam's base editing, gene editing, and delivery technologies.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 7:30 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) reported a decline in Q1 deliveries to 386,810 vehicles from 422,875 a year earlier, with production also dropping. The company cited production challenges, the Red Sea conflict, and an arson attack at Gigafactory Berlin as reasons. Tesla's stock has fallen 14.52% over the past year and 33% year-to-date, with technical indicators showing bearish signals. The stock is trading below key moving averages, and indicators like MACD and Bollinger Bands suggest a bearish outlook, despite the RSI indicating oversold conditions.

Portfolio Pulse from Surbhi Jain

April 02, 2024 | 7:23 pm

PLUG

Plug Power shares are trading lower due to weakness in clean energy vehicle-related stocks, influenced by a rise in yields and Tesla's delivery figures.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 7:23 pm

SONY

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Sony Music CEO Rob Stringer discussed the potential of pulling Sony Music's content from TikTok, similar to Universal Music Group's action, emphasizing the need for fair profit sharing and artist compensation in the era of AI and digital platforms. He highlighted past decisions to protect artists' interests and advocated for innovation and originality in AI music creation.

Portfolio Pulse from Franca Quarneti

April 02, 2024 | 7:15 pm

EXAS

Exact Sciences' stock is trading higher, potentially in response to favorable cancer detection test results released by its competitor, Freenome.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 7:06 pm

AZN

FUSN

LLY

NVO

PFE

AstraZeneca CEO Pascal Soriot announced the company reached its decade-long sales goal of $45 billion by 2023, a target set amid competition from Pfizer. Despite this achievement, AstraZeneca faces investor skepticism, particularly due to its lag in the weight loss drug market compared to Eli Lilly and Novo Nordisk. The company's shares have remained stagnant over the past year. AstraZeneca's strategy under Soriot included divesting non-core assets, focusing on R&D, and making acquisitions like the $2.4 billion deal for Fusion Pharmaceuticals to develop targeted cancer treatments. As patents on key drugs expire, AstraZeneca aims to bolster investor confidence with a new long-term revenue target.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 6:54 pm

GM

General Motors Co (NYSE:GM) reported a 1.5% decline in Q1 U.S. vehicle sales, with a total of 594,233 vehicles delivered. Despite the overall decline, retail sales increased by 6% year-over-year. The company highlighted strong performance across its brands, with notable increases in Chevrolet, Cadillac, Buick, and GMC sales, but a 23% decrease in GM Envolve sales. Electric vehicle sales dropped to 16,425 units, making up 2.8% of total sales. GM shares fell 1.28% to $44.82.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 6:51 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) is transitioning from its 'Just Walk Out' checkout technology to a new 'smart-cart' system named Dash Cart in its grocery stores. The change is due to issues like delayed transactions and high costs associated with the initial system. Dash Carts allow for scanning and checkout while shopping, with new Amazon Fresh locations adopting this technology. The switch will occur over the next 18 months, retaining 'Just Walk Out' in select UK stores and Amazon Go convenience stores.

Portfolio Pulse from Erica Kollmann

April 02, 2024 | 6:44 pm