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BB

RBC Capital Markets analyst Paul Treiber maintains a Sector Perform rating on BlackBerry Limited (NYSE:BB) with a price target of $3, citing concerns over its Cybersecurity unit and potential shortfalls in FY25 revenue guidance. Despite expected cost reductions leading to a possible breakeven FY25 adjusted EPS, challenges in the Cybersecurity segment and delayed EV transitions could impact revenue. The fourth-quarter forecast includes a 12% sequential decline in revenue but a record $64 million in IoT revenue. Cybersecurity revenue is expected to drop 25% sequentially to $85 million. The report is scheduled for April 3 after market close.

Portfolio Pulse from Nabaparna Bhattacharya

March 28, 2024 | 7:26 pm

SMPL

Stifel analyst Matthew E. Smith has reiterated a Buy rating on Simply Good Foods Co (NASDAQ:SMPL) but lowered the price target from $48 to $38 due to weaker-than-anticipated consumption trends. The company's Q2 revenue growth estimate has been reduced to 5% with an EBITDA of $54.6 million. Despite the adjustments, the analyst believes the current guidance is achievable, albeit at the lower end, and expects EBITDA growth to outpace revenue growth. The consumption trends indicate potential for the Quest brand and a decline for the Atkins brand. The possibility of acquisitions to diversify the portfolio was also mentioned.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 7:07 pm

AVTX

BDRX

DTST

MSM

PMEC

UGRO

XLO

Crude oil prices surged over 2%, while MSC Industrial Direct Co., Inc. (NYSE:MSM) shares fell after reporting mixed Q2 results. Energy sector shares rose by 1.1%, but communication services fell by 0.2%. Avalo Therapeutics, Xilio Therapeutics, and Biodexa Pharmaceuticals saw significant stock increases due to positive developments. Conversely, Primech Holdings, urban-gro, and Data Storage Corporation experienced notable declines.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 6:56 pm

EVLV

The New York Police Department (NYPD) has reached out to Evolv Technologies to explore the use of its security solutions. This development indicates potential new business opportunities for Evolv Technologies.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:43 pm

NVO

SRRK

Raymond James initiated coverage on Scholar Rock Holding (NASDAQ:SRRK) with a Strong Buy rating and a $30 price target, highlighting its potential in the obesity and Spinal Muscular Atrophy (SMA) markets. The company's lead program, apitegromab, is in a Phase 3 trial for SMA, with results expected in Q4 2024. Scholar Rock is also exploring the obesity market with SRK-439, showing positive preclinical data. The company ended 2023 with $280 million in cash, expected to fund operations into 2H 2025. SRRK shares rose 15.50% to $17.19.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 6:42 pm

OAIB

Patricia Mohr, an economist and commodities expert, predicts a resurgence in demand for copper and uranium due to the global shift toward greener energy. The Teucrium AiLA Long-Short Base Metals Strategy ETF (OAIB) is highlighted as an investment option in the base metals sector, with a focus on commodities like copper. Technical analysis suggests copper prices may rise in the medium-to-long term, despite currently trading in a descending channel pattern.

Portfolio Pulse from Melanie Schaffer

March 28, 2024 | 6:42 pm

NRXP

Traders are closely monitoring NRX Pharmaceuticals following the circulation of an MDPI article link, which reports that NRX-101, a combination of D-Cycloserine and Lurasidone, is effective against drug-resistant urinary pathogens in vitro.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:38 pm

AMGN

Raymond James has resumed coverage of Amgen Inc (NASDAQ:AMGN), highlighting its diversified portfolio across various therapeutic areas, which is expected to drive long-term growth. Recent deals, like the Horizon deal, and successful product launches have strengthened its position, particularly in rare diseases. However, concerns about the durability of flagship products and market challenges persist. The company's innovative pipeline in oncology, rare diseases, and obesity shows promise despite uncertainties. The FDA's review of Lumakras and the requirement for an additional study by 2028 are noted. Despite challenges, Amgen's confidence in sustaining margins remains, with the stock's risk-reward balance appearing stable.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 6:28 pm

EWW

SPY

The U.S. State Department has announced a new partnership with Mexico aimed at exploring opportunities within the semiconductor supply chain. This move is part of broader efforts to strengthen supply chains and reduce dependency on Asian semiconductor production.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:25 pm

AAPL

Apple Inc. is set to launch new versions of the iPad Pro and iPad Air in early May, with the iPad Pro featuring new OLED displays and the iPad Air getting a 12.9-inch screen option for the first time. This marks the first update to Apple's tablet line in approximately 18 months.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:01 pm